Loading...

We've got a brand new version of Simply Wall St! Try it out

Oji Holdings

DB:OJI
Snowflake Description

Excellent balance sheet and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
OJI
DB
¥537B
Market Cap
  1. Home
  2. DE
  3. Materials
Company description

Oji Holdings Corporation, together with its subsidiaries, engages in the pulp and paper business Japan and internationally. The last earnings update was 65 days ago. More info.


Add to Portfolio Compare Print
OJI Share Price and Events
7 Day Returns
4.7%
DB:OJI
6.5%
Europe Forestry
2.8%
DE Market
1 Year Returns
-25.4%
DB:OJI
-11.9%
Europe Forestry
3%
DE Market
OJI Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Oji Holdings (OJI) 4.7% 4% -5.5% -25.4% 27.9% 65.2%
Europe Forestry 6.5% 1.9% 8.8% -11.9% 1% 49.9%
DE Market 2.8% 0.2% 1.3% 3% 8% 23.6%
1 Year Return vs Industry and Market
  • OJI underperformed the Forestry industry which returned -11.9% over the past year.
  • OJI underperformed the Market in Germany which returned 3% over the past year.
Price Volatility
OJI
Industry
5yr Volatility vs Market

Value

 Is Oji Holdings 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 Oji Holdings 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 Oji Holdings.

DB:OJI Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 8 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 12.1%
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:OJI
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Forestry Unlevered Beta Simply Wall St/ S&P Global 1.37
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.367 (1 + (1- 30.86%) (122.97%))
2.025
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (2 * 5.96%)
12.15%

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

The calculations below outline how an intrinsic value for Oji Holdings 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:OJI DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (JPY, Millions) Source Present Value
Discounted (@ 12.15%)
2020 33,843.50 Analyst x4 30,177.53
2021 61,062.67 Analyst x3 48,550.39
2022 74,148.00 Analyst x3 52,568.41
2023 83,446.72 Est @ 12.54% 52,752.51
2024 90,829.19 Est @ 8.85% 51,199.74
2025 96,516.23 Est @ 6.26% 48,512.22
2026 100,812.43 Est @ 4.45% 45,182.82
2027 104,022.59 Est @ 3.18% 41,571.47
2028 106,412.41 Est @ 2.3% 37,920.01
2029 108,196.50 Est @ 1.68% 34,379.37
Present value of next 10 years cash flows ¥442,814.00
DB:OJI DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= ¥108,196.50 × (1 + 0.23%) ÷ (12.15% – 0.23%)
¥909,758.29
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ¥909,758.29 ÷ (1 + 12.15%)10
¥289,075.10
DB:OJI Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ¥442,814.00 + ¥289,075.10
¥731,889.10
Equity Value per Share
(JPY)
= Total value / Shares Outstanding
= ¥731,889.10 / 989.62
¥739.57
DB:OJI Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:OJI represents 0.00821x of TSE:3861
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.00821x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (JPY) x Listing Adjustment Factor
= ¥ 739.57 x 0.00821
€6.07
Value per share (EUR) From above. €6.07
Current discount Discount to share price of €4.46
= -1 x (€4.46 - €6.07) / €6.07
26.6%

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

Current Discount
Amount off the current price Oji Holdings is available for.
Intrinsic value
27%
Share price is €4.46 vs Future cash flow value of €6.07
Current Discount Checks
For Oji Holdings to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Oji Holdings's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Oji Holdings'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 Oji Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Oji Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:OJI PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in JPY ¥47.17
TSE:3861 Share Price ** TSE (2019-10-11) in JPY ¥543
Europe Forestry Industry PE Ratio Median Figure of 31 Publicly-Listed Forestry Companies 10.37x
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 Oji Holdings.

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

= TSE:3861 Share Price ÷ EPS (both in JPY)

= 543 ÷ 47.17

11.51x

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

  • Oji Holdings is overvalued based on earnings compared to the Europe Forestry industry average.
  • Oji Holdings is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Oji Holdings's expected growth come at a high price?
Raw Data
DB:OJI PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 11.51x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts
10.8%per year
Europe Forestry Industry PEG Ratio Median Figure of 19 Publicly-Listed Forestry Companies 0.3x
Germany Market PEG Ratio Median Figure of 265 Publicly-Listed Companies 1.39x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 11.51x ÷ 10.8%

1.07x

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

  • Oji Holdings is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Oji Holdings's assets?
Raw Data
DB:OJI PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in JPY ¥689.38
TSE:3861 Share Price * TSE (2019-10-11) in JPY ¥543
Europe Forestry Industry PB Ratio Median Figure of 39 Publicly-Listed Forestry Companies 1.17x
Germany Market PB Ratio Median Figure of 598 Publicly-Listed Companies 1.74x
DB:OJI PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSE:3861 Share Price ÷ Book Value per Share (both in JPY)

= 543 ÷ 689.38

0.79x

* Primary Listing of Oji Holdings.

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

  • Oji Holdings is good value based on assets compared to the Europe Forestry industry average.
X
Value checks
We assess Oji Holdings'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 Forestry 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 Forestry industry average (and greater than 0)? (1 check)
  5. Oji Holdings has a total score of 3/6, 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.

Future Performance

 How is Oji Holdings expected to perform in the next 1 to 3 years based on estimates from 8 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
10.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Oji Holdings expected to grow at an attractive rate?
  • Oji Holdings's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Oji Holdings's earnings growth is positive but not above the Germany market average.
  • Oji Holdings's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:OJI Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:OJI Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts 10.8%
DB:OJI Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 8 Analysts 1.9%
Europe Forestry Industry Earnings Growth Rate Market Cap Weighted Average 3.2%
Europe Forestry Industry Revenue Growth Rate Market Cap Weighted Average 1.2%
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:OJI Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
All numbers in JPY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:OJI Future Estimates Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-03-31 1,626,514 151,253 72,629 7
2021-03-31 1,585,525 142,079 66,613 8
2020-03-31 1,566,137 139,635 61,126 8
2019-10-13
DB:OJI Past Financials Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income *
2019-06-30 1,547,354 46,683
2019-03-31 1,550,991 140,571 51,977
2018-12-31 1,553,104 45,323
2018-09-30 1,529,390 139,819 46,459
2018-06-30 1,514,116 47,994
2018-03-31 1,485,895 123,178 36,222
2017-12-31 1,492,463 44,802
2017-09-30 1,465,282 147,157 48,387
2017-06-30 1,440,159 38,694
2017-03-31 1,439,855 157,406 40,270
2016-12-31 1,413,239 9,711
2016-09-30 1,407,338 156,950 4,891

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Oji Holdings's earnings are expected to grow by 10.8% yearly, however this is not considered high growth (20% yearly).
  • Oji Holdings's revenue is expected to grow by 1.9% 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:OJI 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 8 Analyst Estimates (S&P Global) See Below

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

DB:OJI Future Estimates Data
Date (Data in JPY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-03-31 73.38 79.50 68.80 7.00
2021-03-31 67.32 74.60 55.88 8.00
2020-03-31 61.77 65.00 58.81 8.00
2019-10-13
DB:OJI Past Financials Data
Date (Data in JPY Millions) EPS *
2019-06-30 47.17
2019-03-31 52.52
2018-12-31 45.81
2018-09-30 46.97
2018-06-30 48.54
2018-03-31 36.64
2017-12-31 45.32
2017-09-30 48.95
2017-06-30 39.14
2017-03-31 40.74
2016-12-31 9.82
2016-09-30 4.95

*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.
  • Oji Holdings is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Oji Holdings'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 Europe 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.
Oji Holdings has a total score of 1/6, 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.

Past Performance

  How has Oji Holdings 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 Oji Holdings's growth in the last year to its industry (Forestry).
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.
  • Oji Holdings has delivered over 20% year on year earnings growth in the past 5 years.
  • Oji Holdings's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Oji Holdings's 1-year earnings growth is negative, it can't be compared to the Europe Forestry industry average.
Earnings and Revenue History
Oji Holdings'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 Oji Holdings Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:OJI 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 1,547,354.00 46,683.00 259,458.00
2019-03-31 1,550,991.00 51,977.00 260,534.00
2018-12-31 1,553,104.00 45,323.00 264,641.00
2018-09-30 1,529,390.00 46,459.00 264,172.00
2018-06-30 1,514,116.00 47,994.00 265,593.00
2018-03-31 1,485,895.00 36,222.00 265,023.00
2017-12-31 1,492,463.00 44,802.00 268,530.00
2017-09-30 1,465,282.00 48,387.00 264,117.00
2017-06-30 1,440,159.00 38,694.00 260,126.00
2017-03-31 1,439,855.00 40,270.00 259,262.00
2016-12-31 1,413,239.00 9,711.00 252,441.00
2016-09-30 1,407,338.00 4,891.00 250,838.00
2016-06-30 1,425,212.00 3,630.00 252,071.00
2016-03-31 1,433,595.00 12,706.00 253,056.00
2015-12-31 1,434,251.00 26,718.00 251,320.00
2015-09-30 1,429,194.00 25,139.00 249,041.00
2015-06-30 1,387,211.00 28,585.00 242,067.00
2015-03-31 1,347,281.00 15,526.00 233,557.00
2014-12-31 1,335,146.00 23,479.00 231,346.00
2014-09-30 1,327,145.00 22,344.00 228,886.00
2014-06-30 1,333,024.00 26,236.00 228,980.00
2014-03-31 1,332,510.00 31,618.00 228,335.00
2013-12-31 1,297,314.00 31,304.00 225,293.00
2013-09-30 1,279,458.00 33,055.00 225,062.00
2013-06-30 1,255,903.00 27,311.00 223,558.00
2013-03-31 1,241,471.00 25,600.00 220,936.00
2012-12-31 1,218,027.00 22,534.00 215,701.00

*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.
  • Oji Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Oji Holdings used its assets less efficiently than the Europe Forestry industry average last year based on Return on Assets.
  • Oji Holdings has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Oji Holdings'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 Forestry 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.
Oji Holdings has a total score of 2/6, 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.

Health

 How is Oji Holdings'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 Oji Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Oji Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Oji Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Oji Holdings'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 1x 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 Oji Holdings Company Filings, last reported 3 months ago.

DB:OJI Past Debt and Equity Data
Date (Data in JPY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 820,979.00 660,774.00 90,307.00
2019-03-31 815,404.00 620,577.00 88,227.00
2018-12-31 809,504.00 657,361.00 105,803.00
2018-09-30 805,112.00 633,529.00 76,863.00
2018-06-30 789,488.00 659,333.00 67,908.00
2018-03-31 810,009.00 647,422.00 62,763.00
2017-12-31 794,915.00 670,244.00 62,957.00
2017-09-30 772,845.00 675,895.00 69,939.00
2017-06-30 754,960.00 683,560.00 63,831.00
2017-03-31 759,196.00 677,315.00 53,620.00
2016-12-31 678,108.00 715,757.00 65,569.00
2016-09-30 666,445.00 737,533.00 52,215.00
2016-06-30 698,307.00 767,610.00 55,363.00
2016-03-31 711,228.00 777,733.00 51,454.00
2015-12-31 760,161.00 831,931.00 68,481.00
2015-09-30 777,595.00 862,868.00 61,569.00
2015-06-30 784,703.00 885,746.00 71,320.00
2015-03-31 784,417.00 862,579.00 62,284.00
2014-12-31 735,684.00 876,243.00 70,653.00
2014-09-30 658,034.00 844,523.00 88,344.00
2014-06-30 661,405.00 872,338.00 101,863.00
2014-03-31 657,626.00 798,529.00 58,132.00
2013-12-31 647,744.00 843,923.00 74,903.00
2013-09-30 641,799.00 869,082.00 78,804.00
2013-06-30 613,091.00 854,230.00 62,042.00
2013-03-31 579,127.00 831,104.00 57,765.00
2012-12-31 523,905.00 856,956.00 57,061.00
  • Oji Holdings's level of debt (80.5%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (131.9% vs 80.5% today).
  • Debt is well covered by operating cash flow (21.3%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 123.9x coverage).
X
Financial health checks
We assess Oji Holdings'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. Oji Holdings has a total score of 5/6, 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.

Dividends

 What is Oji Holdings'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
2.58%
Current annual income from Oji Holdings dividends. Estimated to be 2.65% next year.
If you bought €2,000 of Oji Holdings shares you are expected to receive €52 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?
  • Oji Holdings's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.46%).
  • Oji Holdings's dividend is below the markets top 25% of dividend payers in Germany (3.86%).
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:OJI 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 8 Analyst Estimates (S&P Global) See Below
Europe Forestry Industry Average Dividend Yield Market Cap Weighted Average of 24 Stocks 4.4%
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:OJI Future Dividends Estimate Data
Date (Data in ¥) Dividend per Share (annual) Avg. No. Analysts
2022-03-31 15.14 7.00
2021-03-31 14.38 8.00
2020-03-31 13.75 8.00
2019-10-13
DB:OJI Past Annualized Dividends Data
Date (Data in ¥) Dividend per share (annual) Avg. Yield (%)
2019-06-27 14.000 2.642
2019-05-13 14.000 2.347
2019-02-13 12.000 1.782
2019-02-08 12.000 1.859
2018-11-13 12.000 1.921
2018-11-01 12.000 1.605
2018-06-28 12.000 1.617
2018-05-11 12.000 1.647
2018-02-13 10.000 1.412
2018-02-06 10.000 1.446
2017-12-14 10.000 1.321
2017-06-29 10.000 1.642
2017-05-12 10.000 1.778
2017-02-13 10.000 1.887
2017-02-06 10.000 1.962
2016-11-11 10.000 2.060
2016-11-07 10.000 2.405
2016-06-29 10.000 2.425
2016-05-13 10.000 2.378
2016-02-12 10.000 2.235
2016-02-04 10.000 2.249
2015-11-13 10.000 2.031
2015-11-10 10.000 1.792
2015-06-26 10.000 1.782
2015-05-15 10.000 1.829
2015-02-13 10.000 1.951
2015-02-06 10.000 2.075
2014-11-13 10.000 2.370
2014-10-31 10.000 2.497
2014-06-27 10.000 2.444
2014-05-14 10.000 2.355
2014-02-13 10.000 2.201
2014-02-07 10.000 2.080
2013-11-13 10.000 2.033
2013-11-01 10.000 2.259
2013-06-27 10.000 2.316
2013-05-15 10.000 2.669
2013-02-13 10.000 2.955
2013-02-12 10.000 3.329
2012-11-13 10.000 3.714
2012-11-09 10.000 4.386
2012-07-31 10.000 4.099
2012-06-28 10.000 3.599
2012-02-13 10.000 2.892
2012-02-03 10.000 2.659
2011-11-11 10.000 2.605
2011-11-04 10.000 2.522
2011-07-29 10.000 2.483
2011-06-29 10.000 2.529
2011-05-12 10.000 2.798
2011-02-10 10.000 2.624
2011-02-03 10.000 2.533
2010-11-11 10.000 2.570
2010-11-01 10.000 2.708
2010-06-29 10.000 2.503
2010-05-13 10.000 2.260
2009-11-12 10.000 2.529
2009-11-04 10.000 2.600
2009-08-03 10.000 2.404
2009-05-14 10.000 2.422
2009-02-12 12.000 3.022
2009-02-03 12.000 2.857
2008-10-31 12.000 2.642

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Oji Holdings's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.9x 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 Oji Holdings'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 Oji Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Oji Holdings 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.

Management

 What is the CEO of Oji Holdings'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
Masatoshi Kaku
TENURE AS CEO 0.8 years
CEO Bio

Mr. Masatoshi Kaku serves as Group CEO & President at Oji Holdings Corporation 2019. He had been an Deputy General Manager, Corporate Governance Div. (Safety Dept,Environmental Management Dept) since 2018 until 2019. Mr. Kaku served as Executive Officer at Oji Holdings Corporation until 2019 and served as its Vice President of Functional Materials Company and served as its the President of Shinomura Chemical Industry Co Ltd since April 1, 2016 and served as its Deputy General Manager, Corporate Governance Division President, Oji Engineering Co., Ltd. until 2018. Mr. Kaku serves as President of Oji F-Tex Co., Ltd. and Senior Managing Director, Oji Functional Materials Progressing Center Inc. Mr. Kaku serves as Director of Oji Holdings Corporation.

CEO Compensation
  • Insufficient data for Masatoshi to compare compensation growth.
  • Insufficient data for Masatoshi to establish whether their remuneration is reasonable compared to companies of similar size in Germany.
Management Team Tenure

Average tenure of the Oji Holdings management team in years:

0.8
Average Tenure
  • The average tenure for the Oji Holdings management team is less than 2 years, this suggests a new team.
Management Team

Masatoshi Kaku

TITLE
Group CEO
TENURE
0.8 yrs

Shoji Fujiwara

TITLE
Senior Executive Officer & Director
TENURE
1.8 yrs

Yoshiki Koseki

TITLE
Senior Executive Officer & Director
TENURE
0.8 yrs

Yoshiaki Takeda

TITLE
Senior Executive Officer
TENURE
1.8 yrs

Ryuichi Kisaka

TITLE
Senior Executive Officer & Director
TENURE
0.8 yrs

Masaru Yokoyama

TITLE
Senior Executive Officer & GM of Innovation Promotion Division
TENURE
0.8 yrs

Hiroyuki Isono

TITLE
Executive Officer & Director
TENURE
0.8 yrs

Kazuhiko Kamada

TITLE
Executive Officer & Director

Koichi Ishida

TITLE
Executive Officer & Director

Yutaka Fushino

TITLE
Senior Executive Officer
TENURE
0.8 yrs
Board of Directors Tenure

Average tenure of the Oji Holdings board of directors in years:

2.3
Average Tenure
  • The average tenure for the Oji Holdings board of directors is less than 3 years, this suggests a new board.
Board of Directors

Susumu Yajima

TITLE
Group CEO
AGE
68
TENURE
0.8 yrs

Masatoshi Kaku

TITLE
Group CEO

Shoji Fujiwara

TITLE
Senior Executive Officer & Director
TENURE
2.3 yrs

Yoshiki Koseki

TITLE
Senior Executive Officer & Director

Yoshiaki Takeda

TITLE
Senior Executive Officer
TENURE
2.3 yrs

Ryuichi Kisaka

TITLE
Senior Executive Officer & Director
TENURE
4.3 yrs

Hiroyuki Isono

TITLE
Executive Officer & Director
TENURE
4.3 yrs

Kazuhiko Kamada

TITLE
Executive Officer & Director
TENURE
4.3 yrs

Koichi Ishida

TITLE
Executive Officer & Director

Fumio Shindo

TITLE
Executive Officer & Director
TENURE
0.8 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 Oji Holdings'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. Oji Holdings 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.

News

Simply Wall St News

Company Info

Description

Oji Holdings Corporation, together with its subsidiaries, engages in the pulp and paper business Japan and internationally. It operates in four segments: Household and Industrial Materials, Functional Materials, Forest Resources and Environment Marketing, and Printing and Communications Media. The Household and Industrial Materials segment offers containerboards, corrugated containers, boxboard/packing paper, folding cartons/paper bags, household paper, disposable diapers, etc. It also provides tissues, toilet tissues, wet wipes, and packaging materials. The Functional Materials segment offers specialty paper, thermal paper, adhesive materials, functional films, imaging media, etc. The Forest Resources and Environment Marketing segment engages in the pulp, energy, forest plantation/lumber processing, etc. The Printing and Communications Media segment provides newsprint, printing/publication/communication paper, etc., as well as writing paper. The company also engages in the real estate, engineering, trading, logistics, machinery businesses, etc. The company was formerly known as Oji Paper Co., Ltd. and changed its name to Oji Holdings Corporation in October 2012. Oji Holdings Corporation was founded in 1873 and is headquartered in Tokyo, Japan.

Details
Name: Oji Holdings Corporation
OJI
Exchange: DB
Founded: 1873
¥4,480,084,729
989,618,138
Website: http://www.ojiholdings.co.jp
Address: Oji Holdings Corporation
4-7-5, Ginza,
Chuo-ku,
Tokyo,
104-0061,
Japan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSE 3861 Common Stock The Tokyo Stock Exchange JP JPY 06. Jan 1992
DB OJI Common Stock Deutsche Boerse AG DE EUR 06. Jan 1992
OTCPK OJIP.Y ADR Pink Sheets LLC US USD 28. Mar 1991
Number of employees
Current staff
Staff numbers
36,309
Oji Holdings employees.
Industry
Paper Products
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/10/13 21:28
End of day share price update: 2019/10/11 00:00
Last estimates confirmation: 2019/09/27
Last earnings filing: 2019/08/09
Last earnings reported: 2019/06/30
Last annual earnings reported: 2019/03/31


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.