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Kirin Holdings Company

DB:KIR
Snowflake Description

Flawless balance sheet with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
KIR
DB
¥2,004B
Market Cap
  1. Home
  2. DE
  3. Food, Beverage & Tobacco
Company description

Kirin Holdings Company, Limited manufactures and sells alcoholic and non-alcoholic beverages, and pharmaceuticals and bio-chemicals in Japan and internationally. The last earnings update was 66 days ago. More info.


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KIR Share Price and Events
7 Day Returns
-1%
DB:KIR
-0.5%
DE Beverage
2.8%
DE Market
1 Year Returns
-7.5%
DB:KIR
5.6%
DE Beverage
3%
DE Market
KIR Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Kirin Holdings Company (KIR) -1% 3.9% 1.1% -7.5% 29.8% 101.9%
DE Beverage -0.5% 2.4% -0.7% 5.6% 30% 68%
DE Market 2.8% 0.2% 1.3% 3% 8% 23.6%
1 Year Return vs Industry and Market
  • KIR underperformed the Beverage industry which returned 5.6% over the past year.
  • KIR underperformed the Market in Germany which returned 3% over the past year.
Price Volatility
KIR
Industry
5yr Volatility vs Market
Related Companies

KIR Value

 Is Kirin Holdings Company undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Kirin Holdings Company to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Kirin Holdings Company.

DB:KIR Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 13 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 5%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:KIR
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Beverage Unlevered Beta Simply Wall St/ S&P Global 0.51
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.508 (1 + (1- 30.86%) (21.08%))
0.72
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (0.8 * 5.96%)
5%

Discounted Cash Flow Calculation for DB:KIR using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Kirin Holdings Company is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

DB:KIR DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (JPY, Millions) Source Present Value
Discounted (@ 5%)
2020 115,539.00 Analyst x8 110,041.33
2021 125,435.43 Analyst x7 113,782.30
2022 113,007.25 Analyst x4 97,631.07
2023 125,707.33 Analyst x3 103,435.49
2024 127,120.62 Est @ 1.12% 99,621.30
2025 128,207.99 Est @ 0.86% 95,692.65
2026 129,063.35 Est @ 0.67% 91,747.38
2027 129,754.38 Est @ 0.54% 87,849.64
2028 130,329.45 Est @ 0.44% 84,040.33
2029 130,822.92 Est @ 0.38% 80,344.53
Present value of next 10 years cash flows ¥964,186.00
DB:KIR DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= ¥130,822.92 × (1 + 0.23%) ÷ (5% – 0.23%)
¥2,750,025.07
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ¥2,750,025.07 ÷ (1 + 5%)10
¥1,688,920.13
DB:KIR Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ¥964,186.00 + ¥1,688,920.13
¥2,653,106.13
Equity Value per Share
(JPY)
= Total value / Shares Outstanding
= ¥2,653,106.13 / 878.10
¥3021.42
DB:KIR Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:KIR represents 0.00833x of TSE:2503
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.00833x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (JPY) x Listing Adjustment Factor
= ¥ 3,021.42 x 0.00833
€25.16
Value per share (EUR) From above. €25.16
Current discount Discount to share price of €19.00
= -1 x (€19.00 - €25.16) / €25.16
24.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Kirin Holdings Company is available for.
Intrinsic value
24%
Share price is €19 vs Future cash flow value of €25.16
Current Discount Checks
For Kirin Holdings Company to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Kirin Holdings Company's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Kirin Holdings Company's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Kirin Holdings Company's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Kirin Holdings Company's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:KIR PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in JPY ¥80.07
TSE:2503 Share Price ** TSE (2019-10-11) in JPY ¥2282
Germany Beverage Industry PE Ratio Median Figure of 7 Publicly-Listed Beverage Companies 27.57x
Germany Market PE Ratio Median Figure of 417 Publicly-Listed Companies 19.72x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Kirin Holdings Company.

DB:KIR PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSE:2503 Share Price ÷ EPS (both in JPY)

= 2282 ÷ 80.07

28.5x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Kirin Holdings Company is overvalued based on earnings compared to the DE Beverage industry average.
  • Kirin Holdings Company is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does Kirin Holdings Company's expected growth come at a high price?
Raw Data
DB:KIR PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 28.5x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts
24.8%per year
Europe Beverage Industry PEG Ratio Median Figure of 31 Publicly-Listed Beverage Companies 2.84x
Germany Market PEG Ratio Median Figure of 265 Publicly-Listed Companies 1.39x

*Line of best fit is calculated by linear regression .

DB:KIR PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 28.5x ÷ 24.8%

1.15x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Kirin Holdings Company is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Kirin Holdings Company's assets?
Raw Data
DB:KIR PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in JPY ¥1,011.94
TSE:2503 Share Price * TSE (2019-10-11) in JPY ¥2282
Germany Beverage Industry PB Ratio Median Figure of 8 Publicly-Listed Beverage Companies 1.56x
Germany Market PB Ratio Median Figure of 598 Publicly-Listed Companies 1.74x
DB:KIR PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSE:2503 Share Price ÷ Book Value per Share (both in JPY)

= 2282 ÷ 1,011.94

2.26x

* Primary Listing of Kirin Holdings Company.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Kirin Holdings Company is overvalued based on assets compared to the DE Beverage industry average.
X
Value checks
We assess Kirin Holdings Company's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Beverage industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Beverage industry average (and greater than 0)? (1 check)
  5. Kirin Holdings Company has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

KIR Future Performance

 How is Kirin Holdings Company expected to perform in the next 1 to 3 years based on estimates from 13 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
24.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Kirin Holdings Company expected to grow at an attractive rate?
  • Kirin Holdings Company's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Kirin Holdings Company's earnings growth is expected to exceed the Germany market average.
  • Kirin Holdings Company's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:KIR Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:KIR Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts 24.8%
DB:KIR Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 13 Analysts 1.4%
Germany Beverage Industry Earnings Growth Rate Market Cap Weighted Average -0.6%
Europe Beverage Industry Revenue Growth Rate Market Cap Weighted Average 4.5%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.8%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:KIR Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 13 Analyst Estimates (S&P Global) See Below
All numbers in JPY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:KIR Future Estimates Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 2,151,449 237,271 154,100 2
2022-12-31 2,021,794 222,626 150,200 3
2021-12-31 1,992,230 212,964 148,657 13
2020-12-31 1,950,728 208,307 139,610 13
2019-12-31 1,971,067 174,501 67,964 13
2019-10-13
DB:KIR Past Financials Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income *
2019-06-30 1,942,088 177,505 70,421
2019-03-31 1,933,652 189,190 73,580
2018-12-31 1,930,522 198,051 164,202
2018-09-30 1,827,460 168,348
2018-06-30 1,820,229 204,210 160,139
2018-03-31 1,822,794 188,748
2017-12-31 1,863,730 221,710 157,011
2017-09-30 1,693,101 160,710
2017-06-30 1,732,637 249,568 167,740
2017-03-31 1,767,298 125,941
2016-12-31 1,853,937 232,263 140,728
2016-09-30 2,108,919 -27,188

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Kirin Holdings Company's earnings are expected to grow significantly at over 20% yearly.
  • Kirin Holdings Company's revenue is expected to grow by 1.4% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:KIR Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 13 Analyst Estimates (S&P Global) See Below

All data from Kirin Holdings Company Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:KIR Future Estimates Data
Date (Data in JPY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 190.60 190.60 190.60 1.00
2022-12-31 184.25 187.30 181.20 2.00
2021-12-31 177.42 200.36 151.60 13.00
2020-12-31 160.78 171.76 135.19 15.00
2019-12-31 72.30 92.90 61.50 12.00
2019-10-13
DB:KIR Past Financials Data
Date (Data in JPY Millions) EPS *
2019-06-30 80.07
2019-03-31 83.06
2018-12-31 183.57
2018-09-30 186.40
2018-06-30 175.90
2018-03-31 206.82
2017-12-31 172.05
2017-09-30 176.12
2017-06-30 183.83
2017-03-31 138.02
2016-12-31 154.22
2016-09-30 -29.79

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Kirin Holdings Company is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Kirin Holdings Company's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Kirin Holdings Company has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

KIR Past Performance

  How has Kirin Holdings Company performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Kirin Holdings Company's growth in the last year to its industry (Beverage).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Kirin Holdings Company has delivered over 20% year on year earnings growth in the past 5 years.
  • Kirin Holdings Company's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Kirin Holdings Company's 1-year earnings growth is negative, it can't be compared to the DE Beverage industry average.
Earnings and Revenue History
Kirin Holdings Company's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Kirin Holdings Company Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:KIR Past Revenue, Cash Flow and Net Income Data
Date (Data in JPY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 1,942,088.00 70,421.00 641,449.00
2019-03-31 1,933,652.00 73,580.00 639,501.00
2018-12-31 1,930,522.00 164,202.00 634,041.00
2018-09-30 1,827,460.00 168,348.00 546,117.00
2018-06-30 1,820,229.00 160,139.00 570,624.00
2018-03-31 1,822,794.00 188,748.00 588,790.00
2017-12-31 1,863,730.00 157,011.00 617,953.00
2017-09-30 1,693,101.00 160,710.00 657,580.00 62,874.00
2017-06-30 1,732,637.00 167,740.00 662,406.00 62,874.00
2017-03-31 1,767,298.00 125,941.00 676,368.00 62,874.00
2016-12-31 1,853,937.00 140,728.00 605,313.00
2016-09-30 2,108,919.00 -27,188.00 709,975.00 61,250.00
2016-06-30 2,134,824.00 -46,632.00 735,561.00 61,250.00
2016-03-31 2,165,507.00 -50,291.00 750,281.00 61,250.00
2015-12-31 1,891,227.00 -47,329.00 757,137.00 61,250.00
2015-09-30 1,917,143.00 65,327.00 768,537.00 57,039.00
2015-06-30 1,908,403.00 51,478.00 762,119.00 57,039.00
2015-03-31 1,880,997.00 34,666.00 757,547.00 57,039.00
2014-12-31 1,894,429.00 32,392.00 755,644.00 57,039.00
2014-09-30 1,874,402.00 24,023.00 750,843.00 54,049.00
2014-06-30 1,903,848.00 40,031.00 753,001.00 54,049.00
2014-03-31 1,951,853.00 42,449.00 755,283.00 54,049.00
2013-12-31 1,943,786.00 85,656.00 757,420.00 54,049.00
2013-09-30 1,942,101.00 114,486.00 736,266.00 55,007.00
2013-06-30 1,925,189.00 102,757.00 719,314.00 55,007.00
2013-03-31 1,894,004.00 113,540.00 705,464.00 55,007.00
2012-12-31 1,870,628.00 56,198.00 688,130.00 55,007.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Kirin Holdings Company has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Kirin Holdings Company used its assets less efficiently than the DE Beverage industry average last year based on Return on Assets.
  • Kirin Holdings Company's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Kirin Holdings Company's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Beverage industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Kirin Holdings Company has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

KIR Health

 How is Kirin Holdings Company's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Kirin Holdings Company's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Kirin Holdings Company is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Kirin Holdings Company's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Kirin Holdings Company's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.8x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Kirin Holdings Company Company Filings, last reported 3 months ago.

DB:KIR Past Debt and Equity Data
Date (Data in JPY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 1,121,313.00 422,425.00 124,727.00
2019-03-31 1,121,046.00 463,167.00 127,002.00
2018-12-31 1,200,920.00 414,994.00 179,815.00
2018-09-30 1,201,351.00 443,095.00 172,688.00
2018-06-30 1,219,718.00 404,393.00 152,362.00
2018-03-31 1,229,331.00 405,496.00 148,520.00
2017-12-31 1,229,139.00 486,474.00 164,275.00
2017-09-30 1,164,021.00 539,486.00 165,470.00
2017-06-30 1,130,866.00 571,777.00 167,797.00
2017-03-31 985,652.00 674,099.00 70,957.00
2016-12-31 959,188.00 668,212.00 93,346.00
2016-09-30 859,903.00 684,450.00 56,524.00
2016-06-30 891,931.00 732,879.00 60,743.00
2016-03-31 917,548.00 836,433.00 93,295.00
2015-12-31 938,083.00 757,103.00 66,465.00
2015-09-30 1,028,817.00 824,542.00 177,909.00
2015-06-30 1,081,840.00 773,393.00 27,746.00
2015-03-31 1,061,956.00 860,320.00 55,826.00
2014-12-31 1,335,711.00 803,922.00 49,450.00
2014-09-30 1,308,071.00 832,138.00 52,872.00
2014-06-30 1,309,150.00 793,145.00 42,679.00
2014-03-31 1,309,008.00 823,671.00 63,914.00
2013-12-31 1,300,726.00 791,077.00 113,759.00
2013-09-30 1,269,586.00 811,320.00 65,282.00
2013-06-30 1,327,167.00 831,846.00 49,933.00
2013-03-31 1,278,148.00 882,332.00 72,722.00
2012-12-31 1,153,901.00 963,624.00 83,916.00
  • Kirin Holdings Company's level of debt (37.7%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (60.1% vs 37.7% today).
  • Debt is well covered by operating cash flow (42%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 55.4x coverage).
X
Financial health checks
We assess Kirin Holdings Company's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Kirin Holdings Company has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

KIR Dividends

 What is Kirin Holdings Company's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.76%
Current annual income from Kirin Holdings Company dividends. Estimated to be 3.09% next year.
If you bought €2,000 of Kirin Holdings Company shares you are expected to receive €55 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Kirin Holdings Company's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.46%).
  • Kirin Holdings Company's dividend is below the markets top 25% of dividend payers in Germany (3.86%).
Upcoming dividend payment

Purchase Kirin Holdings Company before the 'Ex-dividend' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:KIR Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 13 Analyst Estimates (S&P Global) See Below
Germany Beverage Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 1.8%
Germany Market Average Dividend Yield Market Cap Weighted Average of 337 Stocks 3.1%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.7%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:KIR Future Dividends Estimate Data
Date (Data in ¥) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 77.27 3.00
2022-12-31 76.85 4.00
2021-12-31 75.50 14.00
2020-12-31 69.57 14.00
2019-12-31 63.43 14.00
2019-10-13
DB:KIR Past Annualized Dividends Data
Date (Data in ¥) Dividend per share (annual) Avg. Yield (%)
2019-08-08 63.000 2.892
2019-08-06 63.000 2.733
2019-04-01 63.000 2.649
2019-02-14 63.000 2.473
2018-03-30 48.000 1.744
2018-02-14 48.000 1.706
2017-11-09 41.000 1.500
2017-10-31 41.000 1.534
2017-08-08 41.000 1.596
2017-08-03 41.000 1.690
2017-04-28 39.000 1.653
2017-03-31 39.000 1.844
2017-02-13 39.000 1.944
2016-11-10 38.000 2.028
2016-10-31 38.000 2.054
2016-08-08 38.000 2.244
2016-08-04 38.000 2.352
2016-03-30 38.000 2.200
2016-02-15 38.000 2.493
2015-11-10 38.000 2.289
2015-10-30 38.000 2.274
2015-08-07 38.000 2.261
2015-08-05 38.000 2.059
2015-03-27 38.000 2.217
2015-02-12 38.000 2.348
2014-11-12 38.000 2.513
2014-10-30 38.000 2.654
2014-08-08 38.000 2.719
2014-08-06 38.000 2.775
2014-04-30 38.000 2.624
2014-03-27 38.000 2.716
2014-02-13 38.000 2.808
2013-11-08 36.000 2.427
2013-10-30 36.000 2.501
2013-08-09 36.000 2.531
2013-08-01 36.000 2.394
2013-04-26 36.000 2.203
2013-02-14 31.000 2.103
2012-11-13 27.000 2.564
2012-11-02 27.000 2.664
2012-08-10 27.000 2.680
2012-08-03 27.000 2.880
2012-05-02 27.000 2.953
2012-02-29 27.000 2.655
2012-02-10 27.000 2.798
2011-11-11 27.000 2.904
2011-11-04 27.000 2.897
2011-08-12 27.000 2.723
2011-08-05 27.000 2.716
2011-05-06 27.000 2.435
2011-02-10 27.000 2.435
2010-11-12 25.000 2.182
2010-11-05 25.000 2.247
2010-08-16 25.000 2.157
2010-05-07 25.000 2.107
2010-02-10 25.000 1.892
2009-11-13 23.000 1.612
2009-11-06 23.000 1.600
2009-08-14 23.000 1.662
2009-08-06 23.000 1.646
2009-05-08 23.000 1.807
2009-02-10 23.000 2.272
2008-11-04 23.000 2.090

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Kirin Holdings Company's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (1x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Kirin Holdings Company's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.7%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Kirin Holdings Company afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Kirin Holdings Company has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

KIR Management

 What is the CEO of Kirin Holdings Company's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Yoshinori Isozaki
COMPENSATION ¥148,000,000
AGE 66
TENURE AS CEO 4.6 years
CEO Bio

Mr. Yoshinori Isozaki has been the Chief Executive Officer and President of Kirin Holdings Company Limited since March 2015. Mr. Isozaki has been the Chief Executive Officer and President of Kirin Company Limited since January 2013. He served as the Chief Executive Officer and President of Kirin Brewery Company from March 31, 2012 to March 2015. He served as Managing Director of Kirin Holdings Company, Limited from March 2010 to March 2012. Mr. Isozaki served as Deputy General Manager of Media Section, Corporate Communication Department of Kirin Brewery Co. Ltd. since 2001 and General Manager, Hotel Hopinn of Kirin Hotels Development Co. Ltd. since 1998. He has been a Representative Director of Kirin Company Limited since January 2013. He has been a Representative Director of Kirin Holdings Company, Limited since March 2015 and served as its Director from March 2010 to March 2015. He served as a Director of San Miguel Brewery, Inc. since May 18, 2010; San Miguel Corp. since April 20, 2004 and Kyowa Hakko Kirin Co., Ltd. He served as a Representative Director of Kirin Brewery Company from March 31, 2012 to March 2015. He joined Kirin Holdings Company, Ltd in 1977. Mr. Isozaki holds a Bachelor's Degree in Economics from the Keio University and a Master's Degree in Hotel Administration from the Cornell University. His Positions: March 2007 General Manager of Corporate Planning Dept. of Kirin Holdings Company Limited March 2008 Executive Officer March 2009 Senior Executive Officer Reasons for nomination: Mr. Yoshinori Isozaki has worked in the areas of business development, overseas business, corporate planning, etc., since he joined the Kirin Holdings Company Limited and has considerable business experiences and deep insight in the management of the Group. He has demonstrated strong leadership toward achieving the “New Kirin Group Vision 2021,” its long-term management vision and ensured to promote management reform including enhancement of corporate governance. Based on the above, the Board has determined that he is suited to carry out the tasks needed for realizing the Company’s group strategy towards continuous improvement of corporate value and overseeing the entire Kirin Group.

CEO Compensation
  • Insufficient data for Yoshinori to compare compensation growth.
  • Yoshinori's remuneration is lower than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Kirin Holdings Company management team in years:

1.6
Average Tenure
61
Average Age
  • The average tenure for the Kirin Holdings Company management team is less than 2 years, this suggests a new team.
Management Team

Yoshinori Isozaki

TITLE
President
COMPENSATION
¥148M
AGE
66
TENURE
4.6 yrs

Noriya Yokota

TITLE
Director
AGE
58
TENURE
1.6 yrs

Tetsuya Fujiwara

TITLE
Director of Group Corporate Communications

Keisuke Nishimura

TITLE
Senior EVP & Representative Director
AGE
63
TENURE
4.6 yrs

Hiroshi Ogawa

TITLE
Senior Executive Vice President
AGE
63
TENURE
0.6 yrs

Toshiya Miyoshi

TITLE
Senior Executive Officer & Director
AGE
61
TENURE
4.8 yrs

Ryosuke Mizouchi

TITLE
Senior Executive Officer
AGE
60

Noriaki Kobayashi

TITLE
Senior Executive Officer & Director
AGE
60

Junko Tsuboi

TITLE
Senior Executive Officer
TENURE
0.6 yrs

Toru Yoshimura

TITLE
Senior Executive Officer
TENURE
0.6 yrs
Board of Directors Tenure

Average tenure and age of the Kirin Holdings Company board of directors in years:

2.6
Average Tenure
64
Average Age
  • The average tenure for the Kirin Holdings Company board of directors is less than 3 years, this suggests a new board.
Board of Directors

Yoshinori Isozaki

TITLE
President
COMPENSATION
¥148M
AGE
66
TENURE
4.6 yrs

Noriya Yokota

TITLE
Director
AGE
58
TENURE
1.6 yrs

Keisuke Nishimura

TITLE
Senior EVP & Representative Director
AGE
63
TENURE
4.6 yrs

Toshiya Miyoshi

TITLE
Senior Executive Officer & Director
AGE
61
TENURE
4.6 yrs

Noriaki Kobayashi

TITLE
Senior Executive Officer & Director
AGE
60
TENURE
0.6 yrs

Shoshi Arakawa

TITLE
Outside Director
AGE
75
TENURE
4.6 yrs

Masakatsu Mori

TITLE
Outside Director
AGE
72
TENURE
0.6 yrs

Katsunori Nagayasu

TITLE
Outside Director
AGE
72
TENURE
3.6 yrs

Hiroyuki Yanagi

TITLE
Outside Director
AGE
65
TENURE
0.6 yrs

Akihiro Ito

TITLE
Audit & Supervisory Board Member
AGE
59
TENURE
1.6 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Kirin Holdings Company's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Kirin Holdings Company has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

KIR News

Simply Wall St News

KIR Company Info

Description

Kirin Holdings Company, Limited manufactures and sells alcoholic and non-alcoholic beverages, and pharmaceuticals and bio-chemicals in Japan and internationally. It operates through four segments: Japan Integrated Beverages Business, Oceania Integrated Beverages Business, Other Overseas Integrated Beverages Business, and Pharmaceuticals and Bio-Chemicals Business. The company’s products include beer, happo-shu, wine, whiskey, spirits, soft drinks, dairy products, fruit juices, and other products. It also produces and sells pharmaceutical products, biochemical products, and other products. In addition, the company engages in the livestock feed and theme park businesses; and management and operation of a chain of Kirin City beer pubs; manufacture and sale of amino acids and nucleic acids for pharmaceutical and industrial use bulk pharmaceuticals, as well as margarine, jams, and honey. Further, it is involved in the manufacture and sale of Coca-Cola products and other soft drinks, as well as sake; and manufacture and supply of Four Roses bourbon. Kirin Holdings Company, Limited has a strategic collaboration with Mitsui & Co., Ltd. and Onegevity Health for launching a testing system in Japan, as well as to develop nutritional products. The company was formerly known as Kirin Brewery Company, Limited and changed its name to Kirin Holdings Company, Limited in July 2007. Kirin Holdings Company, Limited was founded in 1885 and is headquartered in Tokyo, Japan.

Details
Name: Kirin Holdings Company, Limited
KIR
Exchange: DB
Founded: 1885
¥16,706,231,275
878,100,244
Website: http://www.kirinholdings.co.jp
Address: Kirin Holdings Company, Limited
Nakano Central Park South,
4-10-2, Nakano,
Tokyo,
164-0001,
Japan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSE 2503 Common Stock The Tokyo Stock Exchange JP JPY 06. Jan 1975
OTCPK KNBW.F Common Stock Pink Sheets LLC US USD 06. Jan 1975
DB KIR Common Stock Deutsche Boerse AG DE EUR 06. Jan 1975
OTCPK KNBW.Y SPON ADR Pink Sheets LLC US USD 02. Jan 1980
Number of employees
Current staff
Staff numbers
0
Kirin Holdings Company employees.
Industry
Brewers
Food, Beverage & Tobacco
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/10/13 22:41
End of day share price update: 2019/10/11 00:00
Last estimates confirmation: 2019/10/04
Last earnings filing: 2019/08/08
Last earnings reported: 2019/06/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.