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Chori

TSE:8014
Snowflake Description

Excellent balance sheet with solid track record and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
8014
TSE
¥49B
Market Cap
  1. Home
  2. JP
  3. Capital Goods
Company description

Chori Co., Ltd. engages in the textiles, chemicals, and machinery businesses in China and internationally. The last earnings update was 25 days ago. More info.


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8014 Share Price and Events
7 Day Returns
1.7%
TSE:8014
0.7%
JP Trade Distributors
0.2%
JP Market
1 Year Returns
7.9%
TSE:8014
3.1%
JP Trade Distributors
5.5%
JP Market
8014 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Chori (8014) 1.7% 2.8% 16.7% 7.9% 11.6% 12.8%
JP Trade Distributors 0.7% 2.6% 10% 3.1% 22.7% 42.7%
JP Market 0.2% 0.5% 10.6% 5.5% 13.7% 25.3%
1 Year Return vs Industry and Market
  • 8014 outperformed the Trade Distributors industry which returned 3.1% over the past year.
  • 8014 outperformed the Market in Japan which returned 5.5% over the past year.
Price Volatility
8014
Industry
5yr Volatility vs Market
Related Companies

8014 Value

 Is Chori 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 Chori 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 Chori.

TSE:8014 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 6.1%
Perpetual Growth Rate 10-Year JP Government Bond Rate -0.1%

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 TSE:8014
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year JP Govt Bond Rate -0.1%
Equity Risk Premium S&P Global 6.3%
Trade Distributors Unlevered Beta Simply Wall St/ S&P Global 0.94
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.936 (1 + (1- 30.86%) (4.25%))
0.976
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.98
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.09% + (0.976 * 6.33%)
6.09%

Discounted Cash Flow Calculation for TSE:8014 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Chori 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.

TSE:8014 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (JPY, Millions) Source Present Value
Discounted (@ 6.09%)
2020 5,922.82 Est @ 14.94% 5,583.02
2021 6,540.68 Est @ 10.43% 5,811.70
2022 7,016.52 Est @ 7.28% 5,876.82
2023 7,371.95 Est @ 5.07% 5,820.27
2024 7,631.37 Est @ 3.52% 5,679.41
2025 7,817.29 Est @ 2.44% 5,484.00
2026 7,948.50 Est @ 1.68% 5,256.13
2027 8,039.73 Est @ 1.15% 5,011.45
2028 8,102.16 Est @ 0.78% 4,760.61
2029 8,144.02 Est @ 0.52% 4,510.67
Present value of next 10 years cash flows ¥53,794.00
TSE:8014 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= ¥8,144.02 × (1 + -0.09%) ÷ (6.09% – -0.09%)
¥131,737.89
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ¥131,737.89 ÷ (1 + 6.09%)10
¥72,964.70
TSE:8014 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ¥53,794.00 + ¥72,964.70
¥126,758.70
Equity Value per Share
(JPY)
= Total value / Shares Outstanding
= ¥126,758.70 / 24.56
¥5161.98
TSE:8014 Discount to Share Price
Calculation Result
Value per share (JPY) From above. ¥5,161.98
Current discount Discount to share price of ¥1,978.00
= -1 x (¥1,978.00 - ¥5,161.98) / ¥5,161.98
61.7%

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

Current Discount
Amount off the current price Chori is available for.
Intrinsic value
>50%
Share price is ¥1978 vs Future cash flow value of ¥5161.98
Current Discount Checks
For Chori to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Chori's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Chori's share price is below the future cash flow value, and 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 Chori's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Chori's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSE:8014 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in JPY ¥240.48
TSE:8014 Share Price ** TSE (2019-12-04) in JPY ¥1978
Japan Trade Distributors Industry PE Ratio Median Figure of 107 Publicly-Listed Trade Distributors Companies 9.69x
Japan Market PE Ratio Median Figure of 3,068 Publicly-Listed Companies 15.46x

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

** Primary Listing of Chori.

TSE:8014 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSE:8014 Share Price ÷ EPS (both in JPY)

= 1978 ÷ 240.48

8.23x

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

  • Chori is good value based on earnings compared to the JP Trade Distributors industry average.
  • Chori is good value based on earnings compared to the Japan market.
Price based on expected Growth
Does Chori's expected growth come at a high price?
Raw Data
TSE:8014 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 8.23x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Japan Trade Distributors Industry PEG Ratio Median Figure of 22 Publicly-Listed Trade Distributors Companies 1.96x
Japan Market PEG Ratio Median Figure of 1,368 Publicly-Listed Companies 1.88x

*Line of best fit is calculated by linear regression .

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

  • Unable to calculate PEG ratio for Chori, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Chori's assets?
Raw Data
TSE:8014 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in JPY ¥2,275.51
TSE:8014 Share Price * TSE (2019-12-04) in JPY ¥1978
Japan Trade Distributors Industry PB Ratio Median Figure of 108 Publicly-Listed Trade Distributors Companies 0.71x
Japan Market PB Ratio Median Figure of 3,527 Publicly-Listed Companies 1.12x
TSE:8014 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSE:8014 Share Price ÷ Book Value per Share (both in JPY)

= 1978 ÷ 2,275.51

0.87x

* Primary Listing of Chori.

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

  • Chori is overvalued based on assets compared to the JP Trade Distributors industry average.
X
Value checks
We assess Chori'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 Trade Distributors 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 Trade Distributors industry average (and greater than 0)? (1 check)
  5. Chori has a total score of 4/6, 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.

8014 Future Performance

 How is Chori expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Chori has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

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
3.2%
Expected Trade Distributors industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Chori expected to grow at an attractive rate?
  • Unable to compare Chori's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Chori's earnings growth to the Japan market average as no estimate data is available.
  • Unable to compare Chori's revenue growth to the Japan market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
TSE:8014 Future Growth Rates Data Sources
Data Point Source Value (per year)
Japan Trade Distributors Industry Earnings Growth Rate Market Cap Weighted Average 3.2%
Japan Trade Distributors Industry Revenue Growth Rate Market Cap Weighted Average 2.1%
Japan Market Earnings Growth Rate Market Cap Weighted Average 9.4%
Japan Market Revenue Growth Rate Market Cap Weighted Average 3.6%

*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
TSE:8014 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in JPY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSE:8014 Future Estimates Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
TSE:8014 Past Financials Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income *
2019-09-30 347,736 5,525 5,905
2019-06-30 357,267 5,790
2019-03-31 356,537 3,196 5,630
2018-12-31 348,157 5,204
2018-09-30 339,787 3,238 5,356
2018-06-30 326,627 5,090
2018-03-31 311,705 6,653 4,730
2017-12-31 301,574 4,721
2017-09-30 287,462 3,817 4,559
2017-06-30 277,390 4,867
2017-03-31 270,908 625 4,780
2016-12-31 279,974 5,587

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Chori is high growth as no earnings estimate data is available.
  • Unable to determine if Chori is high growth as no revenue estimate data is available.
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
TSE:8014 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Chori Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSE:8014 Future Estimates Data
Date (Data in JPY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
TSE:8014 Past Financials Data
Date (Data in JPY Millions) EPS *
2019-09-30 240.48
2019-06-30 235.80
2019-03-31 229.28
2018-12-31 211.93
2018-09-30 218.12
2018-06-30 207.30
2018-03-31 192.72
2017-12-31 192.43
2017-09-30 185.90
2017-06-30 198.53
2017-03-31 194.98
2016-12-31 227.91

*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.
  • Unable to establish if Chori will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine whether Chori is trading at Chori'san attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
  2. Chori's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Capital Goods companies here
  3. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess Chori'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 Japan market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Japan 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.
Chori has a total score of 0/6, 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.

8014 Past Performance

  How has Chori 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 Chori's growth in the last year to its industry (Trade Distributors).
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.
  • Chori's year on year earnings growth rate has been positive over the past 5 years.
  • Chori's 1-year earnings growth exceeds its 5-year average (10.3% vs 7.5%)
  • Chori's earnings growth has exceeded the JP Trade Distributors industry average in the past year (10.3% vs -1.7%).
Earnings and Revenue History
Chori'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 Chori Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSE:8014 Past Revenue, Cash Flow and Net Income Data
Date (Data in JPY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 347,736.00 5,905.00 20,362.00
2019-06-30 357,267.00 5,790.00 20,494.00
2019-03-31 356,537.00 5,630.00 20,538.00
2018-12-31 348,157.00 5,204.00 20,176.00
2018-09-30 339,787.00 5,356.00 19,743.00
2018-06-30 326,627.00 5,090.00 19,493.00
2018-03-31 311,705.00 4,730.00 19,174.00
2017-12-31 301,574.00 4,721.00 19,400.00
2017-09-30 287,462.00 4,559.00 19,136.00
2017-06-30 277,390.00 4,867.00 18,739.00
2017-03-31 270,908.00 4,780.00 18,701.00
2016-12-31 279,974.00 5,587.00 19,130.00
2016-09-30 285,571.00 5,024.00 19,482.00
2016-06-30 293,559.00 4,491.00 19,765.00
2016-03-31 291,578.00 4,297.00 19,440.00
2015-12-31 271,919.00 3,206.00 18,479.00
2015-09-30 265,188.00 3,450.00 17,757.00
2015-06-30 252,577.00 3,610.00 16,971.00
2015-03-31 248,396.00 4,153.00 16,648.00
2014-12-31 245,386.00 4,581.00 16,181.00
2014-09-30 239,497.00 4,589.00 16,010.00
2014-06-30 240,481.00 4,327.00 16,048.00
2014-03-31 244,286.00 3,715.00 16,037.00
2013-12-31 241,923.00 3,276.00 15,819.00
2013-09-30 234,738.00 2,715.00 15,385.00
2013-06-30 225,824.00 2,917.00 14,996.00
2013-03-31 221,847.00 2,944.00 14,665.00
2012-12-31 217,174.00 3,147.00 14,290.00

*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.
  • Chori has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Chori used its assets more efficiently than the JP Trade Distributors industry average last year based on Return on Assets.
  • Chori has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Chori'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 Trade Distributors 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.
Chori has a total score of 5/6, 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.

8014 Health

 How is Chori'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 Chori's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Chori is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Chori's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Chori'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.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 43.9x 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 Chori Company Filings, last reported 2 months ago.

TSE:8014 Past Debt and Equity Data
Date (Data in JPY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 55,959.00 2,064.00 12,014.00
2019-06-30 54,847.00 1,989.00 11,070.00
2019-03-31 53,896.00 2,008.00 12,896.00
2018-12-31 52,930.00 6,842.00 11,693.00
2018-09-30 52,979.00 3,930.00 11,721.00
2018-06-30 51,395.00 4,624.00 12,673.00
2018-03-31 51,152.00 4,610.00 15,744.00
2017-12-31 50,623.00 3,909.00 10,507.00
2017-09-30 49,155.00 3,972.00 12,156.00
2017-06-30 47,149.00 3,250.00 10,546.00
2017-03-31 46,341.00 3,487.00 10,311.00
2016-12-31 44,315.00 3,346.00 10,569.00
2016-09-30 42,664.00 3,233.00 9,169.00
2016-06-30 41,904.00 2,992.00 9,164.00
2016-03-31 42,882.00 3,518.00 11,547.00
2015-12-31 42,933.00 4,183.00 9,390.00
2015-09-30 42,682.00 3,829.00 12,640.00
2015-06-30 41,702.00 2,139.00 9,512.00
2015-03-31 41,473.00 1,028.00 11,732.00
2014-12-31 39,546.00 1,075.00 8,855.00
2014-09-30 37,868.00 876.00 9,830.00
2014-06-30 36,736.00 1,010.00 7,937.00
2014-03-31 36,416.00 1,001.00 9,821.00
2013-12-31 35,116.00 1,170.00 6,799.00
2013-09-30 33,770.00 912.00 7,278.00
2013-06-30 32,469.00 1,276.00 7,197.00
2013-03-31 31,385.00 858.00 8,350.00
2012-12-31 30,498.00 483.00 7,087.00
  • Chori's level of debt (3.7%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (2.3% vs 3.7% today).
  • Debt is well covered by operating cash flow (267.7%, greater than 20% of total debt).
  • Chori earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Chori'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. Chori 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.

8014 Dividends

 What is Chori'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
3.13%
Current annual income from Chori dividends.
If you bought ¥2,000 of Chori shares you are expected to receive ¥63 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?
  • Chori's pays a higher dividend yield than the bottom 25% of dividend payers in Japan (1.34%).
  • Chori's dividend is above the markets top 25% of dividend payers in Japan (2.98%).
Upcoming dividend payment

Purchase Chori 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
TSE:8014 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 0 Analyst Estimates (S&P Global) See Below
Japan Trade Distributors Industry Average Dividend Yield Market Cap Weighted Average of 106 Stocks 3.8%
Japan Market Average Dividend Yield Market Cap Weighted Average of 2972 Stocks 2.3%
Japan Minimum Threshold Dividend Yield 10th Percentile 0.8%
Japan Bottom 25% Dividend Yield 25th Percentile 1.3%
Japan Top 25% Dividend Yield 75th Percentile 3%

Industry and Market average data is calculated daily.

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

TSE:8014 Future Dividends Estimate Data
Date (Data in ¥) Dividend per Share (annual) Avg. No. Analysts
TSE:8014 Past Annualized Dividends Data
Date (Data in ¥) Dividend per share (annual) Avg. Yield (%)
2019-10-25 62.000 3.233
2019-06-19 62.000 3.693
2019-04-23 62.000 3.903
2019-02-14 56.000 3.513
2019-01-29 56.000 3.586
2018-11-13 56.000 3.214
2018-10-24 56.000 2.974
2018-07-25 52.000 2.597
2018-06-18 52.000 2.681
2018-04-25 52.000 2.528
2018-02-14 46.000 2.331
2018-01-26 46.000 2.374
2017-11-14 46.000 2.216
2017-10-24 46.000 2.220
2017-06-16 46.000 2.232
2017-04-25 46.000 2.276
2017-02-14 36.000 1.844
2017-01-26 40.000 2.043
2016-11-14 36.000 2.070
2016-10-25 36.000 2.217
2015-06-16 36.000 2.276
2015-04-23 36.000 1.837
2014-06-13 34.000 2.199
2014-04-23 34.000 2.982
2014-01-27 33.000 2.951
2013-10-23 33.000 2.812
2013-07-23 33.000 3.056
2013-06-14 24.000 2.339
2013-04-23 24.000 2.243
2013-01-25 32.000 3.068
2012-10-23 32.000 3.549
2012-07-24 32.000 3.461
2012-06-14 29.000 2.826
2012-01-24 20.000 1.985
2011-10-24 20.000 2.282
2011-07-25 20.000 2.249
2011-04-25 20.000 2.016
2011-01-26 20.000 1.950
2010-06-18 20.000 2.064
2010-04-26 20.000 1.891
2010-01-26 20.000 1.883
2009-04-30 20.000 1.951
2009-01-30 20.000 2.037

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 Chori's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.7x 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 Chori's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - 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 Chori afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Chori has a total score of 4/6, see the detailed checks below.


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

8014 Management

 What is the CEO of Chori'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
Kazuo Sakihama
AGE 63
CEO Bio

Mr. Kazuo Sakihama serves as Chief Executive Officer and Chief Operating Officer of Chori Co.,Ltd. and has been its President since January 2015 and served as its Executive Officer. Mr. Sakihama served as General Manager of Chemical Products, Machinery & Electronic Equipment Materials Division at Chori Co.,Ltd. since April 2012 and served as its Assistant General Manager of Chemical Products, Machinery & Electronic Equipment Materials since June 2010. He has been Representative Director of Chori Co.,Ltd. since June 2013.

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

Average tenure and age of the Chori management team in years:

5.5
Average Tenure
58.5
Average Age
  • The average tenure for the Chori management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Kazuo Sakihama

TITLE
President
AGE
63

Satoko Nakayama

TITLE
Executive Officer

Shigemasa Yabu

TITLE
Managing Executive Officer & Director
AGE
58
TENURE
6.5 yrs

Hiroshi Yoshida

TITLE
Executive Officer
AGE
51

Hiroyuki Watanabe

TITLE
Managing Executive Officer
AGE
57
TENURE
5.5 yrs

Toshihiko Ando

TITLE
MD, Executive Officer
AGE
67
TENURE
4.5 yrs

Kazuhiro Touge

TITLE
Executive Officer & Director
AGE
59

Akira Marui

TITLE
Executive Officer

Noriyasu Goda

TITLE
Executive Officer

Yoshihiro Teratani

TITLE
Executive Officer
Board of Directors Tenure

Average tenure and age of the Chori board of directors in years:

4.5
Average Tenure
60
Average Age
  • The tenure for the Chori board of directors is about average.
Board of Directors

Kazuo Sakihama

TITLE
President
AGE
63
TENURE
6.5 yrs

Satoko Nakayama

TITLE
Executive Officer
TENURE
0.3 yrs

Shigemasa Yabu

TITLE
Managing Executive Officer & Director
AGE
58
TENURE
4.5 yrs

Hiroshi Yoshida

TITLE
Executive Officer
AGE
51
TENURE
2.5 yrs

Hiroyuki Watanabe

TITLE
Managing Executive Officer
AGE
57
TENURE
4.5 yrs

Toshihiko Ando

TITLE
MD, Executive Officer
AGE
67

Kazuhiro Touge

TITLE
Executive Officer & Director
AGE
59

Jun Furuya

TITLE
Director
AGE
60
TENURE
5.5 yrs

Kazuhiko Shimokobe

TITLE
Independent Outside Director
AGE
72
TENURE
4.5 yrs

Masashi Aoyama

TITLE
Director
AGE
62
TENURE
3.5 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 Chori'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. Chori 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.

8014 News

Simply Wall St News

8014 Company Info

Description

Chori Co., Ltd. engages in the textiles, chemicals, and machinery businesses in China and internationally. The company offers polyester yarn for use in other materials; fabrics for use in car seats; nylon yarn and fabrics for sportswear; nonwoven sheets; raw thread/raw cotton for natural and synthetic fabrics; construction and civil engineering products, such as cloth, waterproof nonwoven cloth materials, etc.; and various linen products. It also provides lightweight and thin fabrics, silky and black materials, and garment worn; basic materials and finished products to inner apparel manufacturers for men’s and ladies’ innerwear; men’s fashionable and functional merchandise; and golf apparel and athletic wear, as well as manufactures and sells ladies’ apparels. In addition, the company develops inorganic chemical raw materials for use in a range of products, including glass panels for flat-screen TVs, lithium-ion and other types of batteries, and electronic components comprising capacitors; imports and sells pharmaceutical, agrochemical, and functional organic intermediates, as well as offers drug discovery support services for Japanese pharmaceutical and agrochemical manufacturers; and provides ingredients that are used in food for health purposes and health foods. Further, it provides raw materials and additives for coatings, inks, adhesives, resins, and synthetic fabrics; films; chemicals for healthcare; inorganic agents and catalysts; and polyurethane materials. Chori Co., Ltd. also offers planning and manufacturing services of uniforms to various workplaces; sells transportation equipment; and provides chemical analysis, and research and development services, as well as office outsourcing services. The company was founded in 1861 and is headquartered in Osaka, Japan. Chori Co., Ltd. is a subsidiary of Toray Industries, Inc.

Details
Name: Chori Co., Ltd.
8014
Exchange: TSE
Founded: 1861
¥48,572,175,468
24,556,206
Website: http://www.chori.co.jp
Address: Chori Co., Ltd.
1-7-3, Awajimachi,
Chuo-ku,
Osaka,
540-8603,
Japan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSE 8014 Common Stock The Tokyo Stock Exchange JP JPY 06. Jan 1992
Number of employees
Current staff
Staff numbers
1,023
Chori employees.
Industry
Trading Companies and Distributors
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/12/08 14:32
End of day share price update: 2019/12/04 00:00
Last estimates confirmation: 2019/04/23
Last earnings filing: 2019/11/13
Last earnings reported: 2019/09/30
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.