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Nippon Steel Trading

TSE:9810
Snowflake Description

Average dividend payer and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
9810
TSE
¥161B
Market Cap
  1. Home
  2. JP
  3. Capital Goods
Company description

Nippon Steel Trading Corporation markets and imports/exports steel, industrial supply and infrastructure, textile, foodstuff, and other products in Japan and internationally. The last earnings update was 75 days ago. More info.


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9810 Share Price and Events
7 Day Returns
-3.2%
TSE:9810
-1%
JP Trade Distributors
-1.8%
JP Market
1 Year Returns
9.1%
TSE:9810
6.6%
JP Trade Distributors
10.5%
JP Market
9810 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Nippon Steel Trading (9810) -3.2% -6.1% 10.1% 9.1% 7.3% 16.7%
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
  • 9810 outperformed the Trade Distributors industry which returned 6.6% over the past year.
  • 9810 underperformed the Market in Japan which returned 10.5% over the past year.
Price Volatility
9810
Industry
5yr Volatility vs Market
Related Companies

Value

 Is Nippon Steel Trading 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 Nippon Steel Trading 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 Nippon Steel Trading.

TSE:9810 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 11.3%
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:9810
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%) (193.57%))
1.797
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.09% + (1.797 * 6.33%)
11.28%

Discounted Cash Flow Calculation for TSE:9810 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Nippon Steel Trading 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:9810 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (JPY, Millions) Source Present Value
Discounted (@ 11.28%)
2020 16,000.00 Analyst x1 14,377.53
2021 31,900.00 Analyst x1 25,758.41
2022 25,900.00 Analyst x1 18,792.84
2023 22,200.00 Analyst x1 14,474.71
2024 22,600.00 Analyst x1 13,241.27
2025 20,645.80 Est @ -8.65% 10,869.69
2026 19,390.57 Est @ -6.08% 9,173.61
2027 18,560.10 Est @ -4.28% 7,890.31
2028 17,998.66 Est @ -3.03% 6,875.72
2029 17,612.67 Est @ -2.14% 6,045.99
Present value of next 10 years cash flows ¥127,500.00
TSE:9810 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= ¥17,612.67 × (1 + -0.09%) ÷ (11.28% – -0.09%)
¥154,700.29
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ¥154,700.29 ÷ (1 + 11.28%)10
¥53,104.75
TSE:9810 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ¥127,500.00 + ¥53,104.75
¥180,604.75
Equity Value per Share
(JPY)
= Total value / Shares Outstanding
= ¥180,604.75 / 32.26
¥5598.68
TSE:9810 Discount to Share Price
Calculation Result
Value per share (JPY) From above. ¥5,598.68
Current discount Discount to share price of ¥4,995.00
= -1 x (¥4,995.00 - ¥5,598.68) / ¥5,598.68
10.8%

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

Current Discount
Amount off the current price Nippon Steel Trading is available for.
Intrinsic value
11%
Share price is ¥4995 vs Future cash flow value of ¥5598.68
Current Discount Checks
For Nippon Steel Trading to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Nippon Steel Trading's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Nippon Steel Trading'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 Nippon Steel Trading's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Nippon Steel Trading's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSE:9810 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in JPY ¥670.74
TSE:9810 Share Price ** TSE (2020-01-28) in JPY ¥4995
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 Nippon Steel Trading.

TSE:9810 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSE:9810 Share Price ÷ EPS (both in JPY)

= 4995 ÷ 670.74

7.45x

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

  • Nippon Steel Trading is good value based on earnings compared to the JP Trade Distributors industry average.
  • Nippon Steel Trading is good value based on earnings compared to the Japan market.
Price based on expected Growth
Does Nippon Steel Trading's expected growth come at a high price?
Raw Data
TSE:9810 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 7.45x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
2.3%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:9810 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 7.45x ÷ 2.3%

3.2x

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

  • Nippon Steel Trading is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Nippon Steel Trading's assets?
Raw Data
TSE:9810 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in JPY ¥7,278.10
TSE:9810 Share Price * TSE (2020-01-28) in JPY ¥4995
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:9810 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSE:9810 Share Price ÷ Book Value per Share (both in JPY)

= 4995 ÷ 7,278.10

0.69x

* Primary Listing of Nippon Steel Trading.

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

  • Nippon Steel Trading is good value based on assets compared to the JP Trade Distributors industry average.
X
Value checks
We assess Nippon Steel Trading'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. Nippon Steel Trading 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 Nippon Steel Trading 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
2.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Nippon Steel Trading expected to grow at an attractive rate?
  • Nippon Steel Trading's earnings growth is expected to exceed the low risk savings rate of -0.1%.
Growth vs Market Checks
  • Nippon Steel Trading's earnings growth is positive but not above the Japan market average.
  • Nippon Steel Trading's revenues are expected to decrease over the next 1-3 years, this is below the Japan market average.
Annual Growth Rates Comparison
Raw Data
TSE:9810 Future Growth Rates Data Sources
Data Point Source Value (per year)
TSE:9810 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts 2.3%
TSE:9810 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts -0.3%
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:9810 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:9810 Future Estimates Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-03-31 2,557,000 29,100 24,800 1
2023-03-31 2,545,700 28,700 24,600 1
2022-03-31 2,534,400 32,400 24,300 1
2021-03-31 2,545,400 38,400 23,800 1
2020-03-31 2,593,400 22,500 23,700 1
2020-01-28
TSE:9810 Past Financials Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income *
2019-09-30 2,575,431 16,098 21,637
2019-06-30 2,567,076 20,512
2019-03-31 2,550,612 9,386 23,249
2018-12-31 2,437,973 23,183
2018-09-30 2,310,744 13,275 23,363
2018-06-30 2,191,597 23,305
2018-03-31 2,062,316 -29,528 21,726
2017-12-31 2,051,053 21,763
2017-09-30 1,969,877 -17,810 20,764
2017-06-30 1,905,873 22,133
2017-03-31 1,841,353 22,282 18,238
2016-12-31 1,785,380 18,350

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Nippon Steel Trading's earnings are expected to grow by 2.3% yearly, however this is not considered high growth (20% yearly).
  • Nippon Steel Trading's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
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:9810 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 Nippon Steel Trading Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSE:9810 Future Estimates Data
Date (Data in JPY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-03-31 768.80 768.80 768.80 1.00
2023-03-31 762.60 762.60 762.60 1.00
2022-03-31 753.30 753.30 753.30 1.00
2021-03-31 737.80 737.80 737.80 1.00
2020-03-31 734.70 734.70 734.70 1.00
2020-01-28
TSE:9810 Past Financials Data
Date (Data in JPY Millions) EPS *
2019-09-30 670.74
2019-06-30 635.86
2019-03-31 720.70
2018-12-31 726.24
2018-09-30 739.69
2018-06-30 745.81
2018-03-31 702.86
2017-12-31 704.06
2017-09-30 671.72
2017-06-30 715.99
2017-03-31 589.98
2016-12-31 593.58

*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.
  • Nippon Steel Trading is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Nippon Steel Trading'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.
Nippon Steel Trading 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 Nippon Steel Trading 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 Nippon Steel Trading'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.
  • Nippon Steel Trading's year on year earnings growth rate has been positive over the past 5 years.
  • Nippon Steel Trading's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Nippon Steel Trading's 1-year earnings growth is negative, it can't be compared to the JP Trade Distributors industry average.
Earnings and Revenue History
Nippon Steel Trading'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 Nippon Steel Trading Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSE:9810 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 2,575,431.00 21,637.00 109,493.00
2019-06-30 2,567,076.00 20,512.00 109,378.00
2019-03-31 2,550,612.00 23,249.00 109,973.00
2018-12-31 2,437,973.00 23,183.00 107,587.00
2018-09-30 2,310,744.00 23,363.00 103,777.00
2018-06-30 2,191,597.00 23,305.00 101,270.00
2018-03-31 2,062,316.00 21,726.00 97,679.00
2017-12-31 2,051,053.00 21,763.00 98,458.00
2017-09-30 1,969,877.00 20,764.00 97,417.00
2017-06-30 1,905,873.00 22,133.00 96,154.00
2017-03-31 1,841,353.00 18,238.00 95,829.00
2016-12-31 1,785,380.00 18,350.00 94,895.00
2016-09-30 1,801,772.00 16,266.00 97,087.00
2016-06-30 1,863,289.00 13,885.00 100,258.00
2016-03-31 1,930,845.00 17,329.00 102,307.00
2015-12-31 1,997,974.00 17,249.00 103,120.00
2015-09-30 2,068,700.00 18,934.00 102,961.00
2015-06-30 2,094,009.00 18,722.00 99,619.00
2015-03-31 2,104,606.00 17,434.00 97,014.00
2014-12-31 2,100,642.00 16,128.00 95,952.00
2014-09-30 1,923,732.00 28,215.00 98,396.00
2014-06-30 1,675,443.00 26,109.00 85,111.00
2014-03-31 1,443,843.00 22,768.00 71,955.00
2013-12-31 1,177,938.00 21,619.00 56,906.00
2013-09-30 1,055,967.00 6,339.00 37,419.00
2013-06-30 1,030,543.00 6,411.00 35,853.00
2013-03-31 1,026,354.00 6,138.00 34,744.00

*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.
  • Nippon Steel Trading has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Nippon Steel Trading used its assets less efficiently than the JP Trade Distributors industry average last year based on Return on Assets.
  • Nippon Steel Trading's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Nippon Steel Trading'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.
Nippon Steel Trading has a total score of 1/6, see the detailed checks below.

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

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

Health

 How is Nippon Steel Trading'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 Nippon Steel Trading's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Nippon Steel Trading is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Nippon Steel Trading's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Nippon Steel Trading'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 2.4x 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 Nippon Steel Trading Company Filings, last reported 3 months ago.

TSE:9810 Past Debt and Equity Data
Date (Data in JPY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 252,505.00 311,894.00 23,675.00
2019-06-30 247,135.00 354,852.00 22,290.00
2019-03-31 249,354.00 329,003.00 25,141.00
2018-12-31 245,436.00 359,586.00 28,477.00
2018-09-30 242,252.00 300,544.00 24,258.00
2018-06-30 236,406.00 339,075.00 27,208.00
2018-03-31 227,968.00 247,622.00 28,554.00
2017-12-31 223,819.00 277,574.00 21,888.00
2017-09-30 216,879.00 232,198.00 20,433.00
2017-06-30 210,594.00 222,640.00 20,375.00
2017-03-31 206,185.00 196,099.00 22,690.00
2016-12-31 194,812.00 212,181.00 19,793.00
2016-09-30 187,017.00 198,772.00 19,361.00
2016-06-30 186,693.00 205,671.00 20,723.00
2016-03-31 190,263.00 205,611.00 19,767.00
2015-12-31 188,504.00 207,002.00 18,670.00
2015-09-30 190,227.00 200,035.00 32,745.00
2015-06-30 188,636.00 210,038.00 26,388.00
2015-03-31 183,691.00 206,281.00 29,022.00
2014-12-31 172,314.00 207,919.00 23,006.00
2014-09-30 164,796.00 197,612.00 21,124.00
2014-06-30 159,676.00 196,979.00 24,180.00
2014-03-31 157,553.00 189,501.00 26,879.00
2013-12-31 152,804.00 203,660.00 29,604.00
2013-09-30 71,168.00 74,004.00 19,541.00
2013-06-30 65,785.00 73,782.00 18,873.00
2013-03-31 62,848.00 70,726.00 19,536.00
  • Nippon Steel Trading's level of debt (123%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (119.3% vs 123% today).
  • Debt is not well covered by operating cash flow (5.2%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 12.6x coverage).
X
Financial health checks
We assess Nippon Steel Trading'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. Nippon Steel Trading has a total score of 3/6, 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 Nippon Steel Trading'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
4.6%
Current annual income from Nippon Steel Trading dividends. Estimated to be 4.64% next year.
If you bought ¥2,000 of Nippon Steel Trading shares you are expected to receive ¥92 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?
  • Nippon Steel Trading's pays a higher dividend yield than the bottom 25% of dividend payers in Japan (1.34%).
  • Nippon Steel Trading's dividend is above the markets top 25% of dividend payers in Japan (2.99%).
Upcoming dividend payment

Purchase Nippon Steel Trading 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:9810 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:9810 Future Dividends Estimate Data
Date (Data in ¥) Dividend per Share (annual) Avg. No. Analysts
2024-03-31 240.00 1.00
2023-03-31 230.00 1.00
2022-03-31 230.00 1.00
2021-03-31 230.00 1.00
2020-03-31 230.00 1.00
2020-01-28
TSE:9810 Past Annualized Dividends Data
Date (Data in ¥) Dividend per share (annual) Avg. Yield (%)
2019-11-14 230.000 4.479
2019-11-07 230.000 4.638
2019-06-27 230.000 5.335
2019-05-10 230.000 5.373
2018-06-28 220.000 4.401
2018-05-10 220.000 3.768
2017-11-02 180.000 2.966
2017-06-27 180.000 3.101
2017-05-11 180.000 3.506
2017-02-10 150.000 3.211
2017-02-02 150.000 3.152
2016-11-14 150.000 3.329
2016-11-02 150.000 3.933
2016-06-28 150.000 4.239
2016-06-10 150.000 4.366
2016-02-12 150.000 4.048
2016-02-05 150.000 4.482
2015-11-13 150.000 3.773
2015-11-05 150.000 3.602
2015-06-23 150.000 3.635
2015-05-08 150.000 3.419
2015-02-13 120.000 2.902
2015-02-06 120.000 2.885
2014-11-13 120.000 2.895
2014-11-07 120.000 2.909
2014-08-06 120.000 2.980
2014-06-27 120.000 3.037
2014-05-14 120.000 3.183
2014-02-14 120.000 3.320
2013-11-13 100.000 2.626
2013-07-31 100.000 3.189
2013-06-21 80.000 2.938
2013-04-26 80.000 2.842
2012-07-31 80.000 3.614
2012-06-27 80.000 3.662
2012-04-26 80.000 3.840
2012-01-30 60.000 2.542
2011-10-28 60.000 3.003
2011-07-29 60.000 2.919
2011-06-28 100.000 4.321
2011-04-27 100.000 4.669
2011-02-10 80.000 3.257
2011-01-28 80.000 2.882
2010-11-11 80.000 3.197
2010-10-28 80.000 3.461
2010-08-12 60.000 2.585
2010-07-30 60.000 2.477
2010-06-25 60.000 2.270
2010-04-27 60.000 2.205
2010-01-29 40.000 2.291
2009-10-30 40.000 2.791
2009-06-24 40.000 2.506
2009-04-28 40.000 2.581
2009-01-30 60.000 4.580

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

Management

 What is the CEO of Nippon Steel Trading'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
Yasumitsu Saeki
AGE 64
TENURE AS CEO 1.6 years
CEO Bio

Mr. Yasumitsu Saeki serves as President and Representative Director at Nippon Steel Trading Corporation since June 28, 2018. Mr. Saeki was an Advisor to the President of Nippon Steel & Sumitomo Metal Corporation since 2018 until June 2018 and served as its Director since June 26, 2018. • April 1979: Joined Nippon Steel Corporation (“NSC”) • July 2010: Director (under the Executive Management System), Deputy Director, Flat Products Division, Director, Bar & Wire Rod Division and Deputy General Manager, India Continuous Annealing and Processing Line Project Group of NSC • June 2012: Managing Director (Member of the Board), Director, Flat Products Division, Director, Bar & Wire Rod Division, Director, Pipe & Tube Division and General Manager, India Continuous Annealing and Processing Line Project Group of NSC • October 2012: Managing Director, Member of the Board, Head of Unit, Flat Products Unit, Head of Unit, Bar & Wire Rod Unit and Project Leader, India Continuous Annealing and Processing Line Project of Nippon Steel & Sumitomo Metal Corporation (“NSSMC”) • April 2013: Managing Director, Member of the Board, Head of Unit, Flat Products Unit, Project Leader, Shanghai-Baoshan Cold-rolled & Coated Sheet Products Project and Project Leader, India Continuous Annealing and Processing Line Project of NSSMC • July 2015: Managing Director, Member of the Board, Head of Unit, Flat Products Unit, Project Leader, Shanghai-Baoshan Cold-rolled & Coated Sheet Products Project, Global Business Development Sector and Project Leader, India Continuous Annealing and Processing Line Project, Global Business Development Sector of NSSMC. His responsibilities includes: Marketing Administration & Planning; Transportation & Logistics; Project Development; Machinery & Materials Procurement; Steel Products Units; Domestic Office and Branches, Cooperating with Executive Vice President E. Hashimoto on Overseas Offices (including Corporate Entities). His Material concurrent position include: Vice Chairman, Baosteel-NSC Automotive Steel Sheets Co., Ltd.

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

Average tenure of the Nippon Steel Trading management team in years:

2.8
Average Tenure
  • The tenure for the Nippon Steel Trading management team is about average.
Management Team

Yasumitsu Saeki

TITLE
President & Representative Director
AGE
64
TENURE
1.6 yrs

Yuichiro Sekine

TITLE
Managing Executive Officer
TENURE
3.8 yrs

Masanori Tochika

TITLE
Managing Executive Officer & Director
TENURE
1 yrs

Yutaka Takeuchi

TITLE
VP & Director
AGE
63
TENURE
1 yrs

Yoshiharu Tsurumi

TITLE
Managing Executive Officer
TENURE
2.8 yrs

Eiichi Nakamura

TITLE
Managing Executive Officer & Director
TENURE
9.8 yrs

Shunji Shimada

TITLE
Managing Executive Officer & Director

Yasuhiro Sugiguchi

TITLE
Managing Executive Officer & Director

Masao Mizumoto

TITLE
Managing Executive Officer
TENURE
2.8 yrs

Yasuyuki Tomioka

TITLE
Managing Executive Officer & Director
TENURE
3.8 yrs
Board of Directors Tenure

Average tenure and age of the Nippon Steel Trading board of directors in years:

3.6
Average Tenure
64
Average Age
  • The tenure for the Nippon Steel Trading board of directors is about average.
Board of Directors

Yasumitsu Saeki

TITLE
President & Representative Director
AGE
64
TENURE
1.6 yrs

Masanori Tochika

TITLE
Managing Executive Officer & Director
TENURE
1 yrs

Yutaka Takeuchi

TITLE
VP & Director
AGE
63
TENURE
1 yrs

Eiichi Nakamura

TITLE
Managing Executive Officer & Director
TENURE
4.6 yrs

Shunji Shimada

TITLE
Managing Executive Officer & Director
TENURE
2.6 yrs

Yasuhiro Sugiguchi

TITLE
Managing Executive Officer & Director
TENURE
3.6 yrs

Yasuyuki Tomioka

TITLE
Managing Executive Officer & Director
TENURE
3.6 yrs

Yuichi Nomura

TITLE
Senior Managing Executive Officer & Director
AGE
64
TENURE
5.6 yrs

Tsuneo Miyamoto

TITLE
Executive VP & Director
TENURE
3.6 yrs

Yoshihiro Ogura

TITLE
Independent Outside Director
AGE
74
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 Nippon Steel Trading'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. Nippon Steel Trading 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

Nippon Steel Trading Corporation markets and imports/exports steel, industrial supply and infrastructure, textile, foodstuff, and other products in Japan and internationally. Its steel products comprise steel sheets, steel pipes and tubes, structural steels, rods and bars, construction materials, raw materials, and machinery, as well as other steel, stainless steel, and titanium products. The company also offers industrial supply and infrastructure products, such as machinery and facilities, general industrial machinery, cast and forged steel products, railroad car components, automotive parts, nonferrous raw materials, nonferrous milled products, and carbon fiber products. In addition, it develops, operates, and sells industrial parks; generates and supplies electric power; and provides water supply and drainage systems. Further, the company plans, develops, manufactures, and distributes textile products, including raw cotton, yarn, woven and knitted textiles, infant's wear, school uniforms, sportswear, workwear, sleepwear, interior goods, and accessories and other products, as well as outerwear and innerwear for men, women, and children. Additionally, it provides foodstuffs that include processed meat products comprising beef, pork, chicken, etc.; processed fishery products, such as shrimp, crab, etc.; agricultural products and processed foods; and other foodstuffs and processed foods. The company was formerly known as Nippon Steel & Sumikin Bussan Corporation and changed its name to Nippon Steel Trading Corporation in April 2019. Nippon Steel Trading Corporation was founded in 1977 and is headquartered in Tokyo, Japan.

Details
Name: Nippon Steel Trading Corporation
9810
Exchange: TSE
Founded: 1977
¥161,130,862,845
32,258,431
Website: http://www.nst.nipponsteel.com
Address: Nippon Steel Trading Corporation
Nittetsu Sumikin Bussan Building,
5-27, Akasaka 8-chome,
Tokyo,
107-8527,
Japan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSE 9810 Common Stock The Tokyo Stock Exchange JP JPY 06. Jan 1992
Number of employees
Current staff
Staff numbers
7,914
Nippon Steel Trading employees.
Industry
Trading Companies and Distributors
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/01/28 15:25
End of day share price update: 2020/01/28 00:00
Last estimates confirmation: 2019/12/05
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.