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Seika Corporation operates as a general trading company of machineries in Japan and internationally. The last earnings update was 28 days ago. More info.
7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
---|---|---|---|---|---|---|
Seika (8061) | -1.8% | 1.3% | 8.9% | -10.5% | -20.9% | 2.3% |
JP Trade Distributors | -0.2% | 4.1% | 11.6% | 1.8% | 24.8% | 40.7% |
JP Market | -0.4% | 2.4% | 10.8% | 4.3% | 16.2% | 24.8% |
Is Seika undervalued based on future cash flows and its price relative to the stock market?
Below are the data sources, inputs and calculation used to determine the intrinsic value for Seika.
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 | 7.4% |
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.
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%) (53.72%)) |
1.19 |
Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
1.19 |
Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.09% + (1.19 * 6.33%) |
7.44% |
Discounted Cash Flow Calculation for TSE:8061 using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for Seika 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.
Levered FCF (JPY, Millions) | Source |
Present Value Discounted (@ 7.44%) |
|
---|---|---|---|
2020 | 941.88 | Est @ 59.72% | 876.62 |
2021 | 1,335.37 | Est @ 41.78% | 1,156.73 |
2022 | 1,725.53 | Est @ 29.22% | 1,391.13 |
2023 | 2,077.97 | Est @ 20.43% | 1,559.19 |
2024 | 2,374.51 | Est @ 14.27% | 1,658.25 |
2025 | 2,611.07 | Est @ 9.96% | 1,697.10 |
2026 | 2,792.45 | Est @ 6.95% | 1,689.24 |
2027 | 2,927.49 | Est @ 4.84% | 1,648.22 |
2028 | 3,025.79 | Est @ 3.36% | 1,585.53 |
2029 | 3,096.10 | Est @ 2.32% | 1,509.96 |
Present value of next 10 years cash flows | ¥14,771.00 |
Calculation | Result | |
---|---|---|
Terminal Value |
= FCF2029
× (1 + g) ÷ (Discount Rate – g)
= ¥3,096.10 × (1 + -0.09%) ÷ (7.44% – -0.09%) |
¥41,054.19 |
Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= ¥41,054.19 ÷ (1 + 7.44%)10 |
¥20,021.99 |
Calculation | Result | |
---|---|---|
Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= ¥14,771.00 + ¥20,021.99 |
¥34,792.99 |
Equity Value per Share (JPY) |
= Total value / Shares Outstanding
= ¥34,792.99 / 12.41 |
¥2803.6 |
Calculation | Result | |
---|---|---|
Value per share (JPY) | From above. | ¥2,803.60 |
Current discount | Discount to share price of
¥1,376.00
= -1 x (¥1,376.00 - ¥2,803.60) / ¥2,803.60 |
50.9% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Data Point | Source | Value |
---|---|---|
Earnings Per Share * | Company Filings (2019-09-30) in JPY | ¥96.63 |
TSE:8061 Share Price ** | TSE (2019-12-04) in JPY | ¥1376 |
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 | 15.45x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Seika.
Calculation | Outcome | |
---|---|---|
PE Ratio | = TSE:8061 Share Price ÷ EPS (both in JPY) = 1376 ÷ 96.63 |
14.24x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
Data Point | Source | Value |
---|---|---|
PE Ratio | See PE Ratio Section | 14.24x |
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 >
Data Point | Source | Value |
---|---|---|
Book Value per Share | Company Filings (2019-09-30) in JPY | ¥2,266.09 |
TSE:8061 Share Price * | TSE (2019-12-04) in JPY | ¥1376 |
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 |
Calculation | Outcome | |
---|---|---|
PB Ratio | = TSE:8061 Share Price ÷ Book Value per Share (both in JPY) = 1376 ÷ 2,266.09 |
0.61x |
* Primary Listing of Seika.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
How is Seika 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 Seika 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.
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.
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 |
Date (Data in JPY Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
---|
Date (Data in JPY Millions) | Revenue | Cash Flow | Net Income * |
---|---|---|---|
2019-09-30 | 122,120 | 1,298 | 1,221 |
2019-06-30 | 127,637 | 1,510 | |
2019-03-31 | 157,145 | -734 | 1,587 |
2018-12-31 | 185,849 | 1,968 | |
2018-09-30 | 197,393 | 1,361 | 1,722 |
2018-06-30 | 187,978 | 1,514 | |
2018-03-31 | 165,585 | 1,339 | 1,655 |
2017-12-31 | 138,771 | 1,428 | |
2017-09-30 | 130,433 | 394 | 1,734 |
2017-06-30 | 153,800 | 2,119 | |
2017-03-31 | 150,742 | 3,566 | 2,140 |
2016-12-31 | 150,250 | 2,095 |
*GAAP earnings excluding extraordinary items.
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 Seika Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
Date (Data in JPY Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
---|
Date (Data in JPY Millions) | EPS * |
---|---|
2019-09-30 | 96.63 |
2019-06-30 | 119.33 |
2019-03-31 | 125.44 |
2018-12-31 | 155.11 |
2018-09-30 | 135.19 |
2018-06-30 | 118.23 |
2018-03-31 | 128.33 |
2017-12-31 | 109.98 |
2017-09-30 | 132.58 |
2017-06-30 | 160.87 |
2017-03-31 | 161.23 |
2016-12-31 | 156.78 |
*GAAP earnings excluding extraordinary items.
How has Seika performed over the past 5 years?
All data from Seika Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
Date (Data in JPY Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
---|---|---|---|---|
2019-09-30 | 122,120.00 | 1,221.00 | 11,490.00 | |
2019-06-30 | 127,637.00 | 1,510.00 | 11,476.00 | |
2019-03-31 | 157,145.00 | 1,587.00 | 11,453.00 | |
2018-12-31 | 185,849.00 | 1,968.00 | 11,356.00 | |
2018-09-30 | 197,393.00 | 1,722.00 | 11,707.00 | |
2018-06-30 | 187,978.00 | 1,514.00 | 11,608.00 | |
2018-03-31 | 165,585.00 | 1,655.00 | 11,513.00 | |
2017-12-31 | 138,771.00 | 1,428.00 | 11,660.00 | |
2017-09-30 | 130,433.00 | 1,734.00 | 11,171.00 | |
2017-06-30 | 153,800.00 | 2,119.00 | 11,325.00 | |
2017-03-31 | 150,742.00 | 2,140.00 | 11,199.00 | |
2016-12-31 | 150,250.00 | 2,095.00 | 10,959.00 | |
2016-09-30 | 150,284.00 | 2,130.00 | 10,806.00 | |
2016-06-30 | 131,007.00 | 2,055.00 | 10,344.00 | |
2016-03-31 | 127,101.00 | 1,750.00 | 10,157.00 | |
2015-12-31 | 132,489.00 | 2,008.00 | 10,133.00 | |
2015-09-30 | 137,388.00 | 2,317.00 | 9,936.00 | |
2015-06-30 | 127,865.00 | 1,903.00 | 9,675.00 | |
2015-03-31 | 132,033.00 | 2,188.00 | 9,568.00 | |
2014-12-31 | 125,422.00 | 2,062.00 | 9,355.00 | |
2014-09-30 | 127,664.00 | 1,727.00 | 9,302.00 | |
2014-06-30 | 126,301.00 | 1,463.00 | 9,206.00 | |
2014-03-31 | 126,487.00 | 1,399.00 | 9,059.00 | |
2013-12-31 | 123,390.00 | 1,130.00 | 8,961.00 | |
2013-09-30 | 127,174.00 | 1,374.00 | 9,005.00 | |
2013-06-30 | 131,890.00 | 1,504.00 | 9,087.00 | |
2013-03-31 | 136,670.00 | 1,743.00 | 9,244.00 | |
2012-12-31 | 140,828.00 | 1,715.00 | 9,331.00 |
*GAAP earnings excluding extraordinary items.
How is Seika's financial health and their level of debt?
All data from Seika Company Filings, last reported 2 months ago.
Date (Data in JPY Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
---|---|---|---|
2019-09-30 | 28,683.00 | 9,041.00 | 14,591.00 |
2019-06-30 | 28,581.00 | 9,071.00 | 14,923.00 |
2019-03-31 | 29,065.00 | 9,044.00 | 13,440.00 |
2018-12-31 | 28,396.00 | 9,034.00 | 13,708.00 |
2018-09-30 | 29,548.00 | 8,965.00 | 15,160.00 |
2018-06-30 | 28,556.00 | 8,952.00 | 14,950.00 |
2018-03-31 | 28,986.00 | 8,906.00 | 15,476.00 |
2017-12-31 | 29,269.00 | 8,780.00 | 13,576.00 |
2017-09-30 | 29,327.00 | 8,799.00 | 13,460.00 |
2017-06-30 | 28,527.00 | 8,706.00 | 15,322.00 |
2017-03-31 | 28,640.00 | 8,672.00 | 14,520.00 |
2016-12-31 | 27,314.00 | 8,786.00 | 14,163.00 |
2016-09-30 | 26,448.00 | 8,060.00 | 14,894.00 |
2016-06-30 | 25,582.00 | 8,835.00 | 15,081.00 |
2016-03-31 | 26,485.00 | 8,893.00 | 13,422.00 |
2015-12-31 | 27,002.00 | 8,442.00 | 16,526.00 |
2015-09-30 | 26,802.00 | 8,442.00 | 16,868.00 |
2015-06-30 | 27,456.00 | 8,522.00 | 16,139.00 |
2015-03-31 | 27,589.00 | 8,362.00 | 16,062.00 |
2014-12-31 | 25,963.00 | 8,375.00 | 16,732.00 |
2014-09-30 | 25,274.00 | 8,313.00 | 14,914.00 |
2014-06-30 | 24,581.00 | 8,269.00 | 14,250.00 |
2014-03-31 | 24,605.00 | 8,278.00 | 13,652.00 |
2013-12-31 | 23,886.00 | 8,291.00 | 14,580.00 |
2013-09-30 | 23,595.00 | 8,134.00 | 14,805.00 |
2013-06-30 | 23,341.00 | 7,597.00 | 13,455.00 |
2013-03-31 | 23,071.00 | 7,602.00 | 13,540.00 |
2012-12-31 | 21,570.00 | 7,590.00 | 13,295.00 |
What is Seika's current dividend yield, its reliability and sustainability?
Purchase Seika before the 'Ex-dividend' to receive their next dividend payment.
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.
Date (Data in ¥) | Dividend per Share (annual) | Avg. No. Analysts |
---|
Date (Data in ¥) | Dividend per share (annual) | Avg. Yield (%) |
---|---|---|
2019-06-26 | 45.000 | 3.354 |
2019-05-10 | 45.000 | 3.547 |
2018-06-27 | 55.000 | 3.259 |
2018-05-08 | 55.000 | 2.013 |
2018-02-13 | 60.000 | 2.255 |
2017-11-13 | 60.000 | 2.111 |
2017-11-10 | 60.000 | 2.156 |
2017-06-28 | 55.000 | 2.171 |
2017-05-12 | 55.000 | 2.922 |
2016-06-27 | 50.000 | 3.259 |
2016-05-13 | 50.000 | 3.753 |
2015-06-26 | 42.500 | 3.245 |
2015-05-11 | 42.500 | 2.543 |
2014-11-04 | 40.000 | 2.696 |
2014-08-01 | 40.000 | 3.030 |
2014-06-26 | 35.000 | 2.570 |
2014-05-09 | 40.000 | 3.245 |
2013-06-27 | 30.000 | 2.461 |
2013-05-10 | 30.000 | 2.274 |
2012-08-03 | 30.000 | 2.511 |
2012-06-28 | 30.000 | 2.665 |
2012-05-11 | 30.000 | 2.688 |
2012-02-10 | 30.000 | 2.542 |
2011-11-04 | 30.000 | 2.838 |
2011-08-05 | 30.000 | 2.789 |
2011-05-06 | 30.000 | 2.823 |
2011-02-04 | 30.000 | 2.714 |
2010-06-30 | 30.000 | 3.094 |
2010-04-30 | 30.000 | 3.106 |
2010-02-05 | 30.000 | 2.925 |
2009-10-30 | 30.000 | 3.024 |
2009-08-10 | 30.000 | 2.620 |
2009-08-03 | 30.000 | 2.645 |
2009-04-30 | 30.000 | 2.704 |
2009-02-13 | 35.000 | 3.239 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
Mr. Kazutaka Komoda serves as Chief Executive Officer and President Seika Corporation and served as its Vice-President, General Manager of Overall Operations Division and Executive Officer since April 2014. Mr. Komoda served as an Executive Vice President of Seika Corporation. He served as General Manager of Management Planning Division of Seika Corporation since April 2011 and has been its Senior Managing Executive Officer since April 2011. He served as Chief of Affiliates Office and General Manager of Corporate Planning of Seika Corporation since April 2011 and has been its Representative Director April 2011.
Average tenure and age of the Seika management team in years:
Average tenure and age of the Seika board of directors in years:
Seika Corporation operates as a general trading company of machineries in Japan and internationally. It offers systems and equipment for thermal and renewable power generation; peripheral equipment for nuclear power plants; electrical substation equipment; environmental preservation equipment; and other power generation related equipment. The company also provides a range of equipment and systems for air pollution control, waste water treatment, waste disposal, and safety and prevention; systems and equipment for film, plastic, and textile manufacturing; and food/beverage production, research and development, quality control, and pharmaceutical production equipment, as well as equipment for packaging materials. In addition, it offers various tools for producing the core parts of digital electronic devices comprising laser titler and peripheral exposure devices, laser processing and glass cutting systems, laser direct patterning systems, automatic optical inspection devices, UV curing devices, nitrogen gas circulation purifier systems, nitrogen gas chamber systems, array inspection devices, glass polishing repair systems, liquid crystal pouring equipment, PI pre-cure equipment, cooling systems, and cleaning systems, as well as PI HVCD and curing systems for flexible display. Further, the company provides measuring devices for food/pharmaceutical production and laboratory use, and electrochemistry/porous materials; fluid/combustion measuring systems; life science/biochemical-related measuring devices and accessories; and other devices. Additionally, it offers painting, parts, assembly, and research and development equipment for automobile and parts manufacturers; printing and bookbinding machinery, transport equipment, energy saving products, IT systems, and other machineries and systems; and materials and parts in the areas of textile, electronics, and semiconductor businesses. Seika Corporation was founded in 1947 and is headquartered in Tokyo, Japan.
Name: | Seika Corporation |
8061 | |
Exchange: | TSE |
Founded: | 1947 |
¥17,076,333,376 | |
12,410,126 | |
Website: | http://www.seika.com |
Address: |
Seika Corporation Shin-Tokyo Building, 3-1, Marunouchi 3-chome, Tokyo, 100-0005, Japan |
Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
---|---|---|---|---|---|---|---|
TSE | 8061 | Common Stock | The Tokyo Stock Exchange | JP | JPY | 06. Jan 1992 |
Trading Companies and Distributors | |
Capital Goods |
Area | Date (UTC time) |
---|---|
Company Analysis updated: | 2019/12/05 15:04 |
End of day share price update: | 2019/12/04 00:00 |
Last estimates confirmation: | 2019/05/10 |
Last earnings filing: | 2019/11/07 |
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.