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Prima Meat Packers

TSE:2281
Snowflake Description

Flawless balance sheet average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
2281
TSE
¥120B
Market Cap
  1. Home
  2. JP
  3. Food, Beverage & Tobacco
Company description

Prima Meat Packers, Ltd. manufactures and sells meat and processed foods in Japan. The last earnings update was 57 days ago. More info.


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2281 Share Price and Events
7 Day Returns
3%
TSE:2281
2.3%
JP Food
5.1%
JP Market
1 Year Returns
15.6%
TSE:2281
-5.8%
JP Food
-10.9%
JP Market
2281 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Prima Meat Packers (2281) 3% 13% -5.3% 15.6% -4.4% 39.6%
JP Food 2.3% 11.2% -4.3% -5.8% -3.8% 5.1%
JP Market 5.1% 1.7% -17.6% -10.9% -3% -7.5%
1 Year Return vs Industry and Market
  • 2281 outperformed the Food industry which returned -5.8% over the past year.
  • 2281 outperformed the Market in Japan which returned -10.9% over the past year.
Price Volatility
2281
Industry
5yr Volatility vs Market

2281 Value

 Is Prima Meat Packers 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 Prima Meat Packers 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 Prima Meat Packers.

TSE:2281 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 5%
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:2281
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year JP Govt Bond Rate -0.1%
Equity Risk Premium S&P Global 6.3%
Food Unlevered Beta Simply Wall St/ S&P Global 0.5
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.502 (1 + (1- 30.86%) (20.25%))
0.713
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.09% + (0.8 * 6.33%)
4.97%

Discounted Cash Flow Calculation for TSE:2281 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Prima Meat Packers 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:2281 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (JPY, Millions) Source Present Value
Discounted (@ 4.97%)
2020 100.00 Analyst x1 95.26
2021 9,000.00 Analyst x1 8,167.31
2022 10,700.00 Analyst x1 9,249.93
2023 11,000.00 Analyst x1 9,058.70
2024 11,193.02 Est @ 1.75% 8,780.89
2025 11,327.48 Est @ 1.2% 8,465.31
2026 11,419.67 Est @ 0.81% 8,129.83
2027 11,481.65 Est @ 0.54% 7,786.65
2028 11,522.17 Est @ 0.35% 7,443.87
2029 11,547.53 Est @ 0.22% 7,106.76
Present value of next 10 years cash flows ¥74,284.00
TSE:2281 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= ¥11,547.53 × (1 + -0.09%) ÷ (4.97% – -0.09%)
¥227,826.48
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ¥227,826.48 ÷ (1 + 4.97%)10
¥140,212.50
TSE:2281 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ¥74,284.00 + ¥140,212.50
¥214,496.50
Equity Value per Share
(JPY)
= Total value / Shares Outstanding
= ¥214,496.50 / 50.25
¥4268.64
TSE:2281 Discount to Share Price
Calculation Result
Value per share (JPY) From above. ¥4,268.64
Current discount Discount to share price of ¥2,380.00
= -1 x (¥2,380.00 - ¥4,268.64) / ¥4,268.64
44.2%

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

Current Discount
Amount off the current price Prima Meat Packers is available for.
Intrinsic value
44%
Share price is ¥2380 vs Future cash flow value of ¥4268.64
Current Discount Checks
For Prima Meat Packers to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Prima Meat Packers's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Prima Meat Packers'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 Prima Meat Packers's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Prima Meat Packers's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSE:2281 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in JPY ¥175.00
TSE:2281 Share Price ** TSE (2020-04-09) in JPY ¥2380
Japan Food Industry PE Ratio Median Figure of 102 Publicly-Listed Food Companies 16.56x
Japan Market PE Ratio Median Figure of 3,072 Publicly-Listed Companies 12.4x

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

** Primary Listing of Prima Meat Packers.

TSE:2281 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSE:2281 Share Price ÷ EPS (both in JPY)

= 2380 ÷ 175.00

13.6x

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

  • Prima Meat Packers is good value based on earnings compared to the JP Food industry average.
  • Prima Meat Packers is overvalued based on earnings compared to the Japan market.
Price based on expected Growth
Does Prima Meat Packers's expected growth come at a high price?
Raw Data
TSE:2281 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 13.6x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
0.4%per year
Japan Food Industry PEG Ratio Median Figure of 47 Publicly-Listed Food Companies 2.93x
Japan Market PEG Ratio Median Figure of 1,281 Publicly-Listed Companies 1.37x

*Line of best fit is calculated by linear regression .

TSE:2281 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 13.6x ÷ 0.4%

33.8x

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

  • Prima Meat Packers is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Prima Meat Packers's assets?
Raw Data
TSE:2281 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in JPY ¥1,816.38
TSE:2281 Share Price * TSE (2020-04-09) in JPY ¥2380
Japan Food Industry PB Ratio Median Figure of 115 Publicly-Listed Food Companies 0.99x
Japan Market PB Ratio Median Figure of 3,578 Publicly-Listed Companies 0.86x
TSE:2281 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSE:2281 Share Price ÷ Book Value per Share (both in JPY)

= 2380 ÷ 1,816.38

1.31x

* Primary Listing of Prima Meat Packers.

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

  • Prima Meat Packers is overvalued based on assets compared to the JP Food industry average.
X
Value checks
We assess Prima Meat Packers'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 Food 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 Food industry average (and greater than 0)? (1 check)
  5. Prima Meat Packers 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.

2281 Future Performance

 How is Prima Meat Packers 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
0.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Prima Meat Packers expected to grow at an attractive rate?
  • Prima Meat Packers's earnings growth is expected to exceed the low risk savings rate of -0.1%.
Growth vs Market Checks
  • Prima Meat Packers's earnings growth is positive but not above the Japan market average.
  • Prima Meat Packers's revenue growth is positive but not above the Japan market average.
Annual Growth Rates Comparison
Raw Data
TSE:2281 Future Growth Rates Data Sources
Data Point Source Value (per year)
TSE:2281 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts 0.4%
TSE:2281 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 1.3%
Japan Food Industry Earnings Growth Rate Market Cap Weighted Average 7.6%
Japan Food Industry Revenue Growth Rate Market Cap Weighted Average 2.1%
Japan Market Earnings Growth Rate Market Cap Weighted Average 9.3%
Japan Market Revenue Growth Rate Market Cap Weighted Average 3.3%

*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:2281 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:2281 Future Estimates Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-03-31 432,600 19,200 9,500 1
2022-03-31 426,000 18,900 9,100 1
2021-03-31 419,400 19,300 8,900 1
2020-04-09
2020-03-31 414,200 21,900 9,900 1
TSE:2281 Past Financials Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income *
2019-12-31 414,899 8,795
2019-09-30 414,556 14,464 9,277
2019-06-30 413,391 8,810
2019-03-31 413,023 23,786 8,287
2018-12-31 408,901 9,644
2018-09-30 403,995 15,073 10,239
2018-06-30 400,642 10,518
2018-03-31 394,534 10,866 10,413
2017-12-31 388,571 9,840
2017-09-30 379,304 25,943 10,165
2017-06-30 370,263 10,599
2017-03-31 363,336 26,003 10,009

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Prima Meat Packers's earnings are expected to grow by 0.4% yearly, however this is not considered high growth (20% yearly).
  • Prima Meat Packers's revenue is expected to grow by 1.3% 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:2281 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 Prima Meat Packers Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSE:2281 Future Estimates Data
Date (Data in JPY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-03-31 189.50 189.50 189.50 1.00
2022-03-31 181.50 181.50 181.50 1.00
2021-03-31 177.60 177.60 177.60 1.00
2020-04-09
2020-03-31 197.00 197.00 197.00 1.00
TSE:2281 Past Financials Data
Date (Data in JPY Millions) EPS *
2019-12-31 175.00
2019-09-30 184.58
2019-06-30 175.24
2019-03-31 164.77
2018-12-31 191.68
2018-09-30 203.43
2018-06-30 208.92
2018-03-31 206.83
2017-12-31 195.45
2017-09-30 201.90
2017-06-30 210.51
2017-03-31 198.79

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

2281 Past Performance

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

TSE:2281 Past Revenue, Cash Flow and Net Income Data
Date (Data in JPY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 414,899.00 8,795.00 50,583.00
2019-09-30 414,556.00 9,277.00 49,913.00
2019-06-30 413,391.00 8,810.00 49,743.00
2019-03-31 413,023.00 8,287.00 49,588.00
2018-12-31 408,901.00 9,644.00 49,539.00
2018-09-30 403,995.00 10,239.00 49,275.00
2018-06-30 400,642.00 10,518.00 48,764.00
2018-03-31 394,534.00 10,413.00 47,978.00
2017-12-31 388,571.00 9,840.00 47,100.00
2017-09-30 379,304.00 10,165.00 45,893.00
2017-06-30 370,263.00 10,599.00 45,011.00
2017-03-31 363,336.00 10,009.00 44,287.00
2016-12-31 361,168.00 10,503.00 43,548.00
2016-09-30 358,898.00 8,357.00 42,894.00
2016-06-30 361,226.00 7,244.00 42,492.00
2016-03-31 361,223.00 6,429.00 42,022.00
2015-12-31 360,018.00 6,654.00 41,643.00
2015-09-30 359,397.00 7,051.00 41,331.00
2015-06-30 350,603.00 6,428.00 40,875.00
2015-03-31 341,183.00 6,392.00 40,524.00
2014-12-31 330,253.00 4,798.00 40,490.00
2014-09-30 319,613.00 4,892.00 39,867.00
2014-06-30 310,482.00 4,356.00 39,252.00
2014-03-31 303,600.00 4,192.00 38,811.00
2013-12-31 296,946.00 3,731.00 38,431.00
2013-09-30 288,657.00 3,529.00 38,553.00
2013-06-30 281,337.00 4,235.00 38,473.00

*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.
  • Prima Meat Packers has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Prima Meat Packers used its assets more efficiently than the JP Food industry average last year based on Return on Assets.
  • Prima Meat Packers's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Prima Meat Packers'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 Food 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.
Prima Meat Packers 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.

2281 Health

 How is Prima Meat Packers'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 Prima Meat Packers's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Prima Meat Packers is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Prima Meat Packers's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Prima Meat Packers'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 4.5x 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 Prima Meat Packers Company Filings, last reported 3 months ago.

TSE:2281 Past Debt and Equity Data
Date (Data in JPY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 101,282.00 24,212.00 19,591.00
2019-09-30 99,265.00 25,177.00 17,789.00
2019-06-30 96,364.00 26,069.00 22,161.00
2019-03-31 94,635.00 27,165.00 15,203.00
2018-12-31 94,174.00 29,326.00 14,290.00
2018-09-30 92,766.00 30,410.00 18,687.00
2018-06-30 90,727.00 30,789.00 16,840.00
2018-03-31 89,274.00 29,391.00 13,383.00
2017-12-31 86,033.00 29,168.00 20,891.00
2017-09-30 83,382.00 20,956.00 22,007.00
2017-06-30 80,965.00 21,468.00 19,002.00
2017-03-31 79,197.00 22,185.00 20,015.00
2016-12-31 78,643.00 22,760.00 19,576.00
2016-09-30 74,353.00 18,464.00 11,636.00
2016-06-30 71,281.00 19,039.00 4,688.00
2016-03-31 70,028.00 19,017.00 6,952.00
2015-12-31 69,384.00 17,451.00 12,133.00
2015-09-30 67,858.00 15,019.00 10,953.00
2015-06-30 66,697.00 20,042.00 14,539.00
2015-03-31 56,525.00 16,997.00 5,493.00
2014-12-31 52,802.00 14,895.00 4,965.00
2014-09-30 50,046.00 16,283.00 5,118.00
2014-06-30 48,543.00 15,907.00 4,694.00
2014-03-31 47,306.00 16,018.00 8,672.00
2013-12-31 46,935.00 15,468.00 6,234.00
2013-09-30 44,016.00 14,403.00 5,964.00
2013-06-30 43,116.00 14,847.00 8,429.00
  • Prima Meat Packers's level of debt (21.6%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (26.2% vs 21.6% today).
  • Debt is well covered by operating cash flow (66.2%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 1428.8x coverage).
X
Financial health checks
We assess Prima Meat Packers'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. Prima Meat Packers has a total score of 6/6, 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.

2281 Dividends

 What is Prima Meat Packers'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
2.52%
Current annual income from Prima Meat Packers dividends. Estimated to be 2.52% next year.
If you bought ¥2,000 of Prima Meat Packers shares you are expected to receive ¥50 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?
  • Prima Meat Packers's pays a higher dividend yield than the bottom 25% of dividend payers in Japan (1.7%).
  • Prima Meat Packers's dividend is below the markets top 25% of dividend payers in Japan (3.92%).
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:2281 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 Food Industry Average Dividend Yield Market Cap Weighted Average of 107 Stocks 1.5%
Japan Market Average Dividend Yield Market Cap Weighted Average of 2987 Stocks 2.8%
Japan Minimum Threshold Dividend Yield 10th Percentile 1%
Japan Bottom 25% Dividend Yield 25th Percentile 1.7%
Japan Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

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

TSE:2281 Future Dividends Estimate Data
Date (Data in ¥) Dividend per Share (annual) Avg. No. Analysts
2023-03-31 60.00 1.00
2022-03-31 60.00 1.00
2021-03-31 60.00 1.00
2020-04-09
2020-03-31 60.00 1.00
TSE:2281 Past Annualized Dividends Data
Date (Data in ¥) Dividend per share (annual) Avg. Yield (%)
2019-06-27 60.000 2.591
2019-05-13 60.000 2.848
2018-06-28 50.000 2.189
2018-05-14 50.000 1.545
2018-02-14 40.000 1.285
2018-02-05 40.000 1.242
2017-11-06 40.000 1.010
2017-11-01 40.000 1.061
2017-06-29 30.000 0.848
2017-05-15 30.000 0.976
2017-02-13 20.000 0.825
2017-02-06 20.000 0.916
2016-11-07 20.000 0.982
2016-11-02 20.000 0.996
2016-06-29 20.000 1.159
2016-05-13 20.000 1.313
2016-02-08 20.000 1.407
2016-02-01 20.000 1.307
2015-11-09 20.000 1.230
2015-11-02 20.000 1.163
2015-06-29 10.000 0.568
2015-05-11 10.000 0.548
2014-06-27 10.000 0.703
2014-05-12 10.000 0.863
2013-06-27 10.000 0.992
2013-05-13 10.000 0.965
2012-06-28 10.000 1.252
2012-05-14 10.000 1.542
2012-02-03 10.000 1.381
2011-11-04 10.000 1.633
2011-08-05 10.000 2.031
2011-06-29 10.000 1.978
2011-05-13 10.000 2.054
2011-02-04 10.000 1.957
2010-11-05 10.000 2.128
2010-06-29 10.000 2.161
2010-05-14 10.000 2.001
2010-02-05 10.000 1.999
2009-08-07 10.000 1.990
2009-05-15 10.000 1.757

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 Prima Meat Packers's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.9x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Prima Meat Packers's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1%) - 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 Prima Meat Packers afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Prima Meat Packers 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.

2281 Management

 What is the CEO of Prima Meat Packers'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
Naoto Chiba
AGE 61
TENURE AS CEO 0.8 years
CEO Bio

Mr. Naoto Chiba serves as the President at Prima Meat Packers, Ltd. since June 2018 and serves as its Chief Executive Officer since June 2019 and served as its Managing Director, Head of Meat Business Division and General Manager of Processed Foods. Mr. Chiba served as an External Director of Itochu-Shokuhin Co., Ltd. since June 2014. He served as an Executive Vice President of Dole Asia Holdings Pte. Ltd. since April 2015. Mr. Chiba served as the Chief Operating Officer of Food Products Marketing & Distribution Division at ITOCHU Corporation. He served as an Executive Officer of ITOCHU Corporation since April 2014. He serves as Representative Director of Prima Meat Packers, Ltd. since June 2018. He served as a Director of Nippon Access, Inc. He served as a Director of Dole Asia Holdings Pte. Ltd. since April 2015. He served as a Director of Yoshinoya Holdings Co., Ltd. since May 28, 2009.

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

Average tenure and age of the Prima Meat Packers management team in years:

1.3
Average Tenure
61.5
Average Age
  • The average tenure for the Prima Meat Packers management team is less than 2 years, this suggests a new team.
Management Team

Naoto Chiba

TITLE
President
AGE
61
TENURE
0.8 yrs

Hirofumi Suzuki

TITLE
Head of Legal Division
AGE
62
TENURE
0.8 yrs

Masahiko Yano

TITLE
Senior Managing Executive Officer & GM of Meat Business Division
AGE
60
TENURE
1.3 yrs

Takahiro Uchiyama

TITLE
Senior Managing Executive Officer
AGE
60
TENURE
1.3 yrs

Hisashi Sasaki

TITLE
Senior Managing Executive Officer & GM of Production Division
AGE
64
TENURE
1.3 yrs

Yuichi Niimura

TITLE
Senior Managing Executive Officer
AGE
62
TENURE
7 yrs

Souji Takahashi

TITLE
General Manager of General Affairs & Public Relations Dept.
Board of Directors Tenure

Average tenure and age of the Prima Meat Packers board of directors in years:

3.8
Average Tenure
61.5
Average Age
  • The tenure for the Prima Meat Packers board of directors is about average.
Board of Directors

Naoto Chiba

TITLE
President
AGE
61
TENURE
1.8 yrs

Hirofumi Suzuki

TITLE
Head of Legal Division
AGE
62
TENURE
2.8 yrs

Takeshi Yamashita

TITLE
External Director
AGE
73
TENURE
7.8 yrs

Yasushi Nojiri

TITLE
External Director
AGE
65
TENURE
3.8 yrs

Koichi Sato

TITLE
External Standing Corporate Auditor
AGE
59
TENURE
4.8 yrs

Makoto Kyoda

TITLE
AGE
55
TENURE
3.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (¥) Value (¥)
X
Management checks
We assess Prima Meat Packers'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. Prima Meat Packers 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.

2281 News

Simply Wall St News

2281 Company Info

Description

Prima Meat Packers, Ltd. manufactures and sells meat and processed foods in Japan. It offers meat, hams, and sausages, as well as processed food products. Prima Meat Packers, Ltd. offers its products to convenience stores. The company was founded in 1931 and is headquartered in Tokyo, Japan.

Details
Name: Prima Meat Packers, Ltd.
2281
Exchange: TSE
Founded: 1931
¥119,593,510,120
50,249,374
Website: http://www.primaham.co.jp
Address: Prima Meat Packers, Ltd.
Shinagawa Seaside West Tower,
Higashi Shinagawa 4 - chome 12 - 2,
Tokyo,
140-8529,
Japan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSE 2281 Common Stock The Tokyo Stock Exchange JP JPY 06. Jan 1992
Number of employees
Current staff
Staff numbers
3,337
Prima Meat Packers employees.
Industry
Packaged Foods and Meats
Food, Beverage & Tobacco
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/09 14:55
End of day share price update: 2020/04/09 00:00
Last estimates confirmation: 2020/02/18
Last earnings filing: 2020/02/12
Last earnings reported: 2019/12/31
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.