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Japan Pulp and Paper

TSE:8032
Snowflake Description

Undervalued average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
8032
TSE
¥54B
Market Cap
  1. Home
  2. JP
  3. Capital Goods
Company description

Japan Pulp and Paper Company Limited engages in the manufacture, import, export, distribution, wholesale, and sale of papers, paperboards, pulp, and paper-related products worldwide. The last earnings update was 75 days ago. More info.


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8032 Share Price and Events
7 Day Returns
-3.4%
TSE:8032
-1%
JP Trade Distributors
-1.8%
JP Market
1 Year Returns
0%
TSE:8032
6.6%
JP Trade Distributors
10.5%
JP Market
8032 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Japan Pulp and Paper (8032) -3.4% -7.2% -4.3% 0% 8.6% 20%
JP Trade Distributors -1% -0.6% 4.5% 6.6% 23.6% 48.6%
JP Market -1.8% -1.1% 3.1% 10.5% 12.4% 24.9%
1 Year Return vs Industry and Market
  • 8032 underperformed the Trade Distributors industry which returned 6.6% over the past year.
  • 8032 underperformed the Market in Japan which returned 10.5% over the past year.
Price Volatility
8032
Industry
5yr Volatility vs Market
Related Companies

8032 Value

 Is Japan Pulp and Paper 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 Japan Pulp and Paper 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 Japan Pulp and Paper.

TSE:8032 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 1 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 12.6%
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:8032
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%) (253.47%))
2.057
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)
= -0.09% + (2 * 6.33%)
12.57%

Discounted Cash Flow Calculation for TSE:8032 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Japan Pulp and Paper 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:8032 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (JPY, Millions) Source Present Value
Discounted (@ 12.57%)
2020 5,672.00 Analyst x1 5,038.64
2021 6,512.00 Analyst x1 5,138.89
2022 8,879.00 Analyst x1 6,224.38
2023 10,374.00 Est @ 16.84% 6,460.34
2024 11,593.91 Est @ 11.76% 6,413.82
2025 12,545.13 Est @ 8.2% 6,165.09
2026 13,262.23 Est @ 5.72% 5,789.72
2027 13,789.31 Est @ 3.97% 5,347.63
2028 14,169.20 Est @ 2.76% 4,881.37
2029 14,438.63 Est @ 1.9% 4,418.75
Present value of next 10 years cash flows ¥55,878.00
TSE:8032 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= ¥14,438.63 × (1 + -0.09%) ÷ (12.57% – -0.09%)
¥113,946.58
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ¥113,946.58 ÷ (1 + 12.57%)10
¥34,871.82
TSE:8032 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ¥55,878.00 + ¥34,871.82
¥90,749.82
Equity Value per Share
(JPY)
= Total value / Shares Outstanding
= ¥90,749.82 / 13.65
¥6647.98
TSE:8032 Discount to Share Price
Calculation Result
Value per share (JPY) From above. ¥6,647.98
Current discount Discount to share price of ¥3,985.00
= -1 x (¥3,985.00 - ¥6,647.98) / ¥6,647.98
40.1%

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

Current Discount
Amount off the current price Japan Pulp and Paper is available for.
Intrinsic value
40%
Share price is ¥3985 vs Future cash flow value of ¥6647.98
Current Discount Checks
For Japan Pulp and Paper to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Japan Pulp and Paper's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Japan Pulp and Paper'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 Japan Pulp and Paper's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Japan Pulp and Paper's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSE:8032 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in JPY ¥302.68
TSE:8032 Share Price ** TSE (2020-01-27) in JPY ¥3985
Japan Trade Distributors Industry PE Ratio Median Figure of 107 Publicly-Listed Trade Distributors Companies 9.75x
Japan Market PE Ratio Median Figure of 3,078 Publicly-Listed Companies 15.74x

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

** Primary Listing of Japan Pulp and Paper.

TSE:8032 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSE:8032 Share Price ÷ EPS (both in JPY)

= 3985 ÷ 302.68

13.17x

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

  • Japan Pulp and Paper is overvalued based on earnings compared to the JP Trade Distributors industry average.
  • Japan Pulp and Paper is good value based on earnings compared to the Japan market.
Price based on expected Growth
Does Japan Pulp and Paper's expected growth come at a high price?
Raw Data
TSE:8032 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 13.17x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
22.9%per year
Japan Trade Distributors Industry PEG Ratio Median Figure of 21 Publicly-Listed Trade Distributors Companies 2.09x
Japan Market PEG Ratio Median Figure of 1,285 Publicly-Listed Companies 1.83x

*Line of best fit is calculated by linear regression .

TSE:8032 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 13.17x ÷ 22.9%

0.57x

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

  • Japan Pulp and Paper is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Japan Pulp and Paper's assets?
Raw Data
TSE:8032 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in JPY ¥5,843.79
TSE:8032 Share Price * TSE (2020-01-27) in JPY ¥3985
Japan Trade Distributors Industry PB Ratio Median Figure of 108 Publicly-Listed Trade Distributors Companies 0.73x
Japan Market PB Ratio Median Figure of 3,547 Publicly-Listed Companies 1.14x
TSE:8032 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSE:8032 Share Price ÷ Book Value per Share (both in JPY)

= 3985 ÷ 5,843.79

0.68x

* Primary Listing of Japan Pulp and Paper.

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

  • Japan Pulp and Paper is good value based on assets compared to the JP Trade Distributors industry average.
X
Value checks
We assess Japan Pulp and Paper'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. Japan Pulp and Paper has a total score of 5/6, 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.

8032 Future Performance

 How is Japan Pulp and Paper expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

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
22.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Japan Pulp and Paper expected to grow at an attractive rate?
  • Japan Pulp and Paper's earnings growth is expected to exceed the low risk savings rate of -0.1%.
Growth vs Market Checks
  • Japan Pulp and Paper's earnings growth is expected to exceed the Japan market average.
  • Japan Pulp and Paper's revenue growth is positive but not above the Japan market average.
Annual Growth Rates Comparison
Raw Data
TSE:8032 Future Growth Rates Data Sources
Data Point Source Value (per year)
TSE:8032 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts 22.9%
TSE:8032 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 0.7%
Japan Trade Distributors Industry Earnings Growth Rate Market Cap Weighted Average 3.1%
Japan Trade Distributors Industry Revenue Growth Rate Market Cap Weighted Average 1.9%
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:8032 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in JPY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSE:8032 Future Estimates Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-03-31 548,500 14,879 8,200 1
2021-03-31 543,600 14,512 7,600 1
2020-03-31 538,000 15,672 6,100 1
2020-01-28
TSE:8032 Past Financials Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income *
2019-09-30 539,952 15,701 4,257
2019-06-30 541,510 4,410
2019-03-31 535,495 13,660 3,871
2018-12-31 538,846 6,867
2018-09-30 536,249 14,726 5,935
2018-06-30 527,121 5,165
2018-03-31 521,526 8,698 6,204
2017-12-31 524,998 5,253
2017-09-30 502,381 8,798 6,274
2017-06-30 493,654 6,928
2017-03-31 490,672 16,282 5,358
2016-12-31 478,309 5,793

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Japan Pulp and Paper's earnings are expected to grow significantly at over 20% yearly.
  • Japan Pulp and Paper's revenue is expected to grow by 0.7% 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
TSE:8032 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 1 Analyst Estimates (S&P Global) See Below

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

TSE:8032 Future Estimates Data
Date (Data in JPY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-03-31 581.90 581.90 581.90 1.00
2021-03-31 539.30 539.30 539.30 1.00
2020-03-31 432.80 432.80 432.80 1.00
2020-01-28
TSE:8032 Past Financials Data
Date (Data in JPY Millions) EPS *
2019-09-30 302.68
2019-06-30 312.84
2019-03-31 274.68
2018-12-31 487.27
2018-09-30 418.43
2018-06-30 360.67
2018-03-31 429.19
2017-12-31 366.45
2017-09-30 444.23
2017-06-30 499.63
2017-03-31 392.67
2016-12-31 423.00

*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.
  • Japan Pulp and Paper is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Japan Pulp and Paper'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.
Japan Pulp and Paper 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.

8032 Past Performance

  How has Japan Pulp and Paper 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 Japan Pulp and Paper'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.
  • Japan Pulp and Paper's year on year earnings growth rate has been positive over the past 5 years.
  • Japan Pulp and Paper's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Japan Pulp and Paper's 1-year earnings growth is negative, it can't be compared to the JP Trade Distributors industry average.
Earnings and Revenue History
Japan Pulp and Paper'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 Japan Pulp and Paper Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSE:8032 Past Revenue, Cash Flow and Net Income Data
Date (Data in JPY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 539,952.00 4,257.00 55,127.00
2019-06-30 541,510.00 4,410.00 54,234.00
2019-03-31 535,495.00 3,871.00 53,264.00
2018-12-31 538,846.00 6,867.00 52,608.00
2018-09-30 536,249.00 5,935.00 52,555.00
2018-06-30 527,121.00 5,165.00 50,986.00
2018-03-31 521,526.00 6,204.00 49,367.00
2017-12-31 524,998.00 5,253.00 48,219.00
2017-09-30 502,381.00 6,274.00 44,461.00
2017-06-30 493,654.00 6,928.00 42,535.00
2017-03-31 490,672.00 5,358.00 41,445.00
2016-12-31 478,309.00 5,793.00 40,004.00
2016-09-30 484,980.00 4,226.00 40,840.00
2016-06-30 499,172.00 2,629.00 42,080.00
2016-03-31 506,651.00 3,278.00 43,199.00
2015-12-31 522,749.00 2,637.00 44,880.00
2015-09-30 533,756.00 2,644.00 45,433.00
2015-06-30 529,243.00 3,284.00 45,052.00
2015-03-31 530,162.00 3,033.00 44,274.00
2014-12-31 536,167.00 443.00 43,673.00
2014-09-30 534,088.00 1,133.00 42,689.00
2014-06-30 541,586.00 1,088.00 42,877.00
2014-03-31 541,901.00 837.00 42,588.00
2013-12-31 528,487.00 4,010.00 39,832.00
2013-09-30 517,184.00 2,913.00 39,418.00
2013-06-30 508,263.00 -706.00 38,648.00
2013-03-31 505,199.00 -2,414.00 38,158.00

*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.
  • Japan Pulp and Paper has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Japan Pulp and Paper used its assets less efficiently than the JP Trade Distributors industry average last year based on Return on Assets.
  • Japan Pulp and Paper has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Japan Pulp and Paper'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.
Japan Pulp and Paper 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.

8032 Health

 How is Japan Pulp and Paper'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 Japan Pulp and Paper's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Japan Pulp and Paper's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Japan Pulp and Paper's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Japan Pulp and Paper'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 1.4x 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 Japan Pulp and Paper Company Filings, last reported 3 months ago.

TSE:8032 Past Debt and Equity Data
Date (Data in JPY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 86,055.00 137,193.00 8,235.00
2019-06-30 87,285.00 132,318.00 8,310.00
2019-03-31 94,745.00 120,941.00 7,855.00
2018-12-31 95,377.00 121,163.00 7,644.00
2018-09-30 97,952.00 121,861.00 7,463.00
2018-06-30 94,593.00 115,753.00 7,150.00
2018-03-31 94,735.00 118,180.00 6,837.00
2017-12-31 93,347.00 122,288.00 8,569.00
2017-09-30 92,304.00 120,217.00 8,575.00
2017-06-30 88,263.00 100,124.00 6,389.00
2017-03-31 80,783.00 98,542.00 6,157.00
2016-12-31 78,991.00 105,129.00 6,015.00
2016-09-30 75,527.00 103,053.00 4,140.00
2016-06-30 74,449.00 108,269.00 4,768.00
2016-03-31 76,181.00 113,170.00 5,346.00
2015-12-31 79,273.00 121,725.00 5,989.00
2015-09-30 79,034.00 114,710.00 5,179.00
2015-06-30 82,114.00 111,715.00 4,108.00
2015-03-31 82,121.00 111,366.00 5,588.00
2014-12-31 77,061.00 106,086.00 5,260.00
2014-09-30 75,400.00 98,627.00 6,710.00
2014-06-30 74,926.00 96,011.00 6,005.00
2014-03-31 74,439.00 94,064.00 4,881.00
2013-12-31 78,211.00 94,565.00 4,474.00
2013-09-30 75,005.00 87,523.00 5,011.00
2013-06-30 72,197.00 86,649.00 4,478.00
2013-03-31 68,870.00 84,777.00 4,769.00
  • Japan Pulp and Paper's level of debt (159%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (130.7% vs 159% today).
  • Debt is not well covered by operating cash flow (11.5%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 8.5x coverage).
X
Financial health checks
We assess Japan Pulp and Paper'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. Japan Pulp and Paper has a total score of 2/6, 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.

8032 Dividends

 What is Japan Pulp and Paper'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 Japan Pulp and Paper dividends. Estimated to be 3.01% next year.
If you bought ¥2,000 of Japan Pulp and Paper 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?
  • Japan Pulp and Paper's pays a higher dividend yield than the bottom 25% of dividend payers in Japan (1.34%).
  • Japan Pulp and Paper's dividend is below the markets top 25% of dividend payers in Japan (2.99%).
Upcoming dividend payment

Purchase Japan Pulp and Paper 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:8032 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 1 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 2975 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:8032 Future Dividends Estimate Data
Date (Data in ¥) Dividend per Share (annual) Avg. No. Analysts
2022-03-31 130.00 1.00
2021-03-31 120.00 1.00
2020-03-31 110.00 1.00
2020-01-28
TSE:8032 Past Annualized Dividends Data
Date (Data in ¥) Dividend per share (annual) Avg. Yield (%)
2019-11-14 110.000 2.673
2019-06-26 110.000 2.917
2019-05-13 110.000 2.923
2019-02-05 110.000 2.617
2018-11-14 110.000 2.622
2018-11-06 110.000 2.536
2018-06-28 110.000 2.437
2018-05-21 110.000 2.188
2018-02-14 100.000 2.286
2018-02-07 100.000 2.348
2017-11-10 100.000 2.333
2017-11-08 100.000 2.207
2017-06-28 100.000 2.249
2017-05-11 100.000 2.442
2017-02-14 100.000 2.633
2017-02-09 100.000 2.696
2016-11-14 100.000 2.745
2016-11-04 100.000 2.893
2016-06-28 100.000 2.935
2016-05-12 100.000 3.006
2016-02-12 100.000 3.101
2016-02-04 100.000 3.160
2015-11-13 100.000 3.018
2015-11-05 100.000 2.942
2015-06-26 100.000 2.965
2015-05-15 100.000 2.924
2015-02-13 100.000 2.994
2015-02-05 100.000 2.996
2014-11-14 100.000 3.097
2014-11-06 100.000 3.050
2014-06-27 100.000 3.062
2014-05-13 100.000 2.941
2014-02-14 100.000 2.982
2014-02-07 100.000 3.165
2013-11-14 100.000 3.116
2013-11-08 100.000 3.218
2013-06-27 100.000 3.172
2013-05-14 100.000 3.400
2013-02-14 100.000 3.305
2013-02-07 100.000 3.358
2012-11-14 100.000 3.578
2012-11-08 100.000 4.246
2012-08-03 100.000 3.912
2012-06-28 100.000 3.702
2012-05-14 100.000 3.844
2012-02-13 100.000 3.474
2012-02-07 100.000 3.571
2011-11-11 100.000 3.638
2011-11-07 100.000 3.794
2011-08-05 100.000 3.646
2011-06-29 100.000 3.520
2011-05-13 100.000 3.643
2011-02-14 100.000 3.313
2011-02-04 100.000 3.043
2010-11-12 100.000 3.442
2010-11-05 100.000 3.628
2010-06-29 100.000 3.531
2010-05-14 100.000 3.252
2010-02-12 100.000 3.060
2010-02-05 100.000 3.226
2009-11-13 100.000 3.051
2009-11-06 100.000 2.966
2009-08-06 100.000 2.919
2009-05-13 100.000 3.387
2009-02-13 100.000 3.683
2009-02-05 100.000 3.688

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 Japan Pulp and Paper's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.8x 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 Japan Pulp and Paper'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 Japan Pulp and Paper afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Japan Pulp and Paper 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.

8032 Management

 What is the CEO of Japan Pulp and Paper'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
Akihiko Watanabe
CEO Bio

Akihiko Watanabe has been President of Japan Pulp and Paper Company Limited since April 6, 2017. Akihiko Watanabe served as the Chief Operating Officer of Global Business and General Manager of International Sales Division at Japan Pulp and Paper Company Limited since April 1, 2016 until April 6, 2017 and served as its Executive Vice President from April 1, 2016 to June 30, 2016. Akihiko Watanabe served as the President of Japan Pulp & Paper (U.S.A.) Corp. Akihiko Watanabe served as Managing Executive Officer of Japan Pulp and Paper Company Limited since April 1, 2015. Akihiko Watanabe served as an Executive Vice President at Japan Pulp and Paper Company Limited and served as its Executive Officer. Akihiko Watanabe has been a Director of Japan Pulp and Paper Company Limited since June 30, 2016.

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

Average tenure of the Japan Pulp and Paper management team in years:

4.8
Average Tenure
  • The tenure for the Japan Pulp and Paper management team is about average.
Management Team

Akihiko Watanabe

TITLE
President & Director

Chihiro Katsuta

TITLE
CFO, Senior EVP & Director

Kenichiro Fujii

TITLE
Executive Officer and GM of Finance & Administration Division

Tetsuo Izawa

TITLE
Executive VP of Paper Sales & Marketing and GM of Paper Merchant Sales Division
TENURE
4.8 yrs

Koji Kassai

TITLE
Executive Vice President

Tokuhichi Dazai

TITLE
Senior Executive Vice President of Global Business
AGE
63
TENURE
6.8 yrs

Tomoyuki Miyazaki

TITLE
COO of Raw Materials & Environment
TENURE
4.8 yrs

Hiroshi Ebihara

TITLE
Senior VP & GM of Purchasing Division

Kazuhiko Sakurai

TITLE
Senior Executive VP of Paperboard & Household Paper and Director
TENURE
4.8 yrs

Mitsutoshi Imamura

TITLE
Senior Vice President of Global Business
TENURE
4.8 yrs
Board of Directors Tenure

Average tenure of the Japan Pulp and Paper board of directors in years:

3.1
Average Tenure
  • The tenure for the Japan Pulp and Paper board of directors is about average.
Board of Directors

Akihiko Watanabe

TITLE
President & Director
TENURE
3.6 yrs

Chihiro Katsuta

TITLE
CFO, Senior EVP & Director

Tomoyuki Miyazaki

TITLE
COO of Raw Materials & Environment

Kazuhiko Sakurai

TITLE
Senior Executive VP of Paperboard & Household Paper and Director
TENURE
1 yrs

Itaru Masuda

TITLE
Outside Director
TENURE
2.6 yrs

Sumiko Takeuchi

TITLE
Outside Director
TENURE
1 yrs

Satoshi Sakai

TITLE
Audit & Supervisory Board Member
TENURE
3.6 yrs

Katsunori Kitamura

TITLE
Audit & Supervisory Board Member

Naofumi Higuchi

TITLE
Audit & Supervisory Board Member
TENURE
3.6 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 Japan Pulp and Paper'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. Japan Pulp and Paper 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.

8032 News

Simply Wall St News

8032 Company Info

Description

Japan Pulp and Paper Company Limited engages in the manufacture, import, export, distribution, wholesale, and sale of papers, paperboards, pulp, and paper-related products worldwide. It offers household paper products and goods, processed papers, container materials, recovered papers, industrial chemicals, building materials, capacitor papers, electronic components and materials, containerboards, corrugated carton boxes and packages, materials for recycling papers, laminated papers, industrial waste papers, and packaging materials and ink, as well as paper films used for manufacturing electronic components. The company also provides digital printers, films and other media, and harvesting equipment; and warehousing and transportation, paper converting, shipping pallet recovery and recycling, cargo handling, and business management services. In addition, it is involved in the sale of computer systems, design and development of software, and Internet retailing operations, as well as offers enterprise AI products, application development tools, public cloud services, package software, and education/consulting services on new technologies, as well as information management solutions. Further, the company engages in the recycling of waste papers, waste plastic, and waste construction materials into recycled fuels; and leasing of office spaces and housing properties. Additionally, it generates renewable energy from wood fiber biomass energy generation plants and solar power generation plants. Japan Pulp and Paper Company Limited was founded in 1845 and is headquartered in Tokyo, Japan.

Details
Name: Japan Pulp and Paper Company Limited
8032
Exchange: TSE
Founded: 1845
¥54,125,156,345
13,650,733
Website: http://www.kamipa.co.jp
Address: Japan Pulp and Paper Company Limited
Forefront Tower,
3-12-1 Kachidoki,
Tokyo,
104-8656,
Japan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSE 8032 Common Stock The Tokyo Stock Exchange JP JPY 06. Jan 1992
Number of employees
Current staff
Staff numbers
4,350
Japan Pulp and Paper employees.
Industry
Trading Companies and Distributors
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/01/28 14:41
End of day share price update: 2020/01/27 00:00
Last estimates confirmation: 2019/12/11
Last earnings filing: 2019/11/14
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.