Loading...

You're on the old version of Simply Wall St. We will no longer be supporting this site, so we recommend you switch to our brand new platform.

Nisshin OilliO GroupLtd

TSE:2602
Snowflake Description

Flawless balance sheet average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
2602
TSE
¥111B
Market Cap
  1. Home
  2. JP
  3. Food, Beverage & Tobacco
Company description

The Nisshin OilliO Group,Ltd. engages in oil and meal, processed oil and fat, fine chemical, and health science businesses in Japan, China, Taiwan, Malaysia, Singapore, Indonesia, and Europe. The last earnings update was 54 days ago. More info.


Add to Portfolio Compare Print
2602 Share Price and Events
7 Day Returns
-9.7%
TSE:2602
-7.1%
JP Food
-8.9%
JP Market
1 Year Returns
1.4%
TSE:2602
-10.2%
JP Food
-17.9%
JP Market
2602 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Nisshin OilliO GroupLtd (2602) -9.7% 1.5% -13.2% 1.4% -1.2% 50.9%
JP Food -7.1% 2.4% -5.8% -10.2% -8.5% -4.1%
JP Market -8.9% -10.5% -21.9% -17.9% -10.5% -14%
1 Year Return vs Industry and Market
  • 2602 outperformed the Food industry which returned -10.2% over the past year.
  • 2602 outperformed the Market in Japan which returned -17.9% over the past year.
Price Volatility
2602
Industry
5yr Volatility vs Market

2602 Value

 Is Nisshin OilliO GroupLtd 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 Nisshin OilliO GroupLtd 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 Nisshin OilliO GroupLtd.

TSE:2602 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 5.2%
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:2602
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 0.57
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.569 (1 + (1- 30.86%) (47.92%))
0.837
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.84
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.09% + (0.837 * 6.33%)
5.21%

Discounted Cash Flow Calculation for TSE:2602 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Nisshin OilliO GroupLtd 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:2602 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (JPY, Millions) Source Present Value
Discounted (@ 5.21%)
2020 2,500.00 Analyst x1 2,376.23
2021 4,400.00 Analyst x1 3,975.10
2022 7,800.00 Analyst x1 6,697.89
2023 8,100.00 Analyst x1 6,611.14
2024 8,700.00 Analyst x1 6,749.29
2025 9,097.00 Est @ 4.56% 6,707.87
2026 9,385.12 Est @ 3.17% 6,577.71
2027 9,590.66 Est @ 2.19% 6,388.97
2028 9,735.09 Est @ 1.51% 6,164.11
2029 9,835.10 Est @ 1.03% 5,919.12
Present value of next 10 years cash flows ¥58,167.00
TSE:2602 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= ¥9,835.10 × (1 + -0.09%) ÷ (5.21% – -0.09%)
¥185,441.91
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ¥185,441.91 ÷ (1 + 5.21%)10
¥111,605.64
TSE:2602 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ¥58,167.00 + ¥111,605.64
¥169,772.64
Equity Value per Share
(JPY)
= Total value / Shares Outstanding
= ¥169,772.64 / 33.35
¥5089.96
TSE:2602 Discount to Share Price
Calculation Result
Value per share (JPY) From above. ¥5,089.96
Current discount Discount to share price of ¥3,335.00
= -1 x (¥3,335.00 - ¥5,089.96) / ¥5,089.96
34.5%

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

Current Discount
Amount off the current price Nisshin OilliO GroupLtd is available for.
Intrinsic value
34%
Share price is ¥3335 vs Future cash flow value of ¥5089.96
Current Discount Checks
For Nisshin OilliO GroupLtd to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Nisshin OilliO GroupLtd's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Nisshin OilliO GroupLtd'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 Nisshin OilliO GroupLtd's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Nisshin OilliO GroupLtd's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSE:2602 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in JPY ¥277.66
TSE:2602 Share Price ** TSE (2020-04-06) in JPY ¥3335
Japan Food Industry PE Ratio Median Figure of 102 Publicly-Listed Food Companies 15.86x
Japan Market PE Ratio Median Figure of 3,071 Publicly-Listed Companies 11.51x

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

** Primary Listing of Nisshin OilliO GroupLtd.

TSE:2602 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSE:2602 Share Price ÷ EPS (both in JPY)

= 3335 ÷ 277.66

12.01x

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

  • Nisshin OilliO GroupLtd is good value based on earnings compared to the JP Food industry average.
  • Nisshin OilliO GroupLtd is overvalued based on earnings compared to the Japan market.
Price based on expected Growth
Does Nisshin OilliO GroupLtd's expected growth come at a high price?
Raw Data
TSE:2602 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 12.01x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
3.2%per year
Japan Food Industry PEG Ratio Median Figure of 47 Publicly-Listed Food Companies 2.88x
Japan Market PEG Ratio Median Figure of 1,281 Publicly-Listed Companies 1.25x

*Line of best fit is calculated by linear regression .

TSE:2602 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 12.01x ÷ 3.2%

3.72x

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

  • Nisshin OilliO GroupLtd is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Nisshin OilliO GroupLtd's assets?
Raw Data
TSE:2602 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in JPY ¥4,228.51
TSE:2602 Share Price * TSE (2020-04-06) in JPY ¥3335
Japan Food Industry PB Ratio Median Figure of 115 Publicly-Listed Food Companies 0.97x
Japan Market PB Ratio Median Figure of 3,576 Publicly-Listed Companies 0.8x
TSE:2602 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSE:2602 Share Price ÷ Book Value per Share (both in JPY)

= 3335 ÷ 4,228.51

0.79x

* Primary Listing of Nisshin OilliO GroupLtd.

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

  • Nisshin OilliO GroupLtd is good value based on assets compared to the JP Food industry average.
X
Value checks
We assess Nisshin OilliO GroupLtd'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. Nisshin OilliO GroupLtd 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.

2602 Future Performance

 How is Nisshin OilliO GroupLtd expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
3.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Nisshin OilliO GroupLtd expected to grow at an attractive rate?
  • Nisshin OilliO GroupLtd's earnings growth is expected to exceed the low risk savings rate of -0.1%.
Growth vs Market Checks
  • Nisshin OilliO GroupLtd's earnings growth is positive but not above the Japan market average.
  • Nisshin OilliO GroupLtd's revenue growth is positive but not above the Japan market average.
Annual Growth Rates Comparison
Raw Data
TSE:2602 Future Growth Rates Data Sources
Data Point Source Value (per year)
TSE:2602 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 3.2%
TSE:2602 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 1.2%
Japan Food Industry Earnings Growth Rate Market Cap Weighted Average 7.3%
Japan Food Industry Revenue Growth Rate Market Cap Weighted Average 2%
Japan Market Earnings Growth Rate Market Cap Weighted Average 9.1%
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:2602 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in JPY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSE:2602 Future Estimates Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-03-31 352,800 18,700 10,300 1
2023-03-31 352,800 17,063 10,050 2
2022-03-31 348,150 16,116 9,700 2
2021-03-31 344,100 16,624 9,350 2
2020-04-06
2020-03-31 340,050 17,785 8,850 2
TSE:2602 Past Financials Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income *
2019-12-31 335,973 19,530 9,460
2019-09-30 338,421 24,452 8,792
2019-06-30 342,303 16,633 9,359
2019-03-31 343,059 20,718 9,044
2018-12-31 346,396 16,666 9,795
2018-09-30 343,499 7,365 8,297
2018-06-30 340,507 7,170 6,967
2018-03-31 337,998 5,667 6,930
2017-12-31 337,552 4,001 6,146
2017-09-30 336,638 15,329 7,076
2017-06-30 331,089 19,759 8,199
2017-03-31 324,909 13,697 7,569

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Nisshin OilliO GroupLtd's earnings are expected to grow by 3.2% yearly, however this is not considered high growth (20% yearly).
  • Nisshin OilliO GroupLtd's revenue is expected to grow by 1.2% 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:2602 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 2 Analyst Estimates (S&P Global) See Below

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

TSE:2602 Future Estimates Data
Date (Data in JPY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-03-31 301.70 301.70 301.70 1.00
2023-03-31 296.70 303.40 290.00 2.00
2022-03-31 286.35 291.50 281.20 2.00
2021-03-31 276.05 282.60 269.50 2.00
2020-04-06
2020-03-31 261.25 264.70 257.80 2.00
TSE:2602 Past Financials Data
Date (Data in JPY Millions) EPS *
2019-12-31 277.66
2019-09-30 257.56
2019-06-30 274.17
2019-03-31 264.94
2018-12-31 286.98
2018-09-30 243.18
2018-06-30 204.33
2018-03-31 203.94
2017-12-31 182.06
2017-09-30 210.96
2017-06-30 245.95
2017-03-31 227.81

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

2602 Past Performance

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

TSE:2602 Past Revenue, Cash Flow and Net Income Data
Date (Data in JPY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 335,973.00 9,460.00 46,135.00
2019-09-30 338,421.00 8,792.00 45,465.00
2019-06-30 342,303.00 9,359.00 44,765.00
2019-03-31 343,059.00 9,044.00 44,103.00
2018-12-31 346,396.00 9,795.00 43,371.00
2018-09-30 343,499.00 8,297.00 42,890.00
2018-06-30 340,507.00 6,967.00 42,323.00
2018-03-31 337,998.00 6,930.00 42,029.00
2017-12-31 337,552.00 6,146.00 41,926.00
2017-09-30 336,638.00 7,076.00 41,731.00
2017-06-30 331,089.00 8,199.00 42,042.00
2017-03-31 324,909.00 7,569.00 41,873.00
2016-12-31 321,066.00 7,564.00 41,603.00
2016-09-30 321,745.00 6,395.00 41,399.00
2016-06-30 326,447.00 5,648.00 40,877.00
2016-03-31 327,836.00 5,296.00 40,520.00
2015-12-31 329,806.00 5,070.00 39,635.00
2015-09-30 332,174.00 4,416.00 40,007.00
2015-06-30 329,187.00 3,307.00 40,397.00
2015-03-31 329,267.00 3,447.00 40,849.00
2014-12-31 333,212.00 2,954.00 41,561.00
2014-09-30 332,943.00 3,342.00 42,304.00
2014-06-30 334,771.00 3,290.00 42,426.00
2014-03-31 337,148.00 2,276.00 42,797.00
2013-12-31 324,628.00 1,054.00 42,757.00
2013-09-30 320,261.00 1,288.00 42,571.00
2013-06-30 317,788.00 931.00 42,896.00

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

2602 Health

 How is Nisshin OilliO GroupLtd'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 Nisshin OilliO GroupLtd's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Nisshin OilliO GroupLtd is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Nisshin OilliO GroupLtd's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Nisshin OilliO GroupLtd'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 2.8x 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 Nisshin OilliO GroupLtd Company Filings, last reported 3 months ago.

TSE:2602 Past Debt and Equity Data
Date (Data in JPY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 152,142.00 53,302.00 14,249.00
2019-09-30 150,801.00 45,122.00 9,702.00
2019-06-30 149,224.00 47,956.00 10,085.00
2019-03-31 149,098.00 45,686.00 14,890.00
2018-12-31 148,769.00 51,276.00 10,453.00
2018-09-30 149,166.00 56,246.00 12,299.00
2018-06-30 143,384.00 60,327.00 20,449.00
2018-03-31 141,359.00 61,620.00 23,114.00
2017-12-31 140,275.00 61,279.00 18,952.00
2017-09-30 137,007.00 48,270.00 11,924.00
2017-06-30 133,748.00 47,975.00 14,144.00
2017-03-31 132,034.00 48,244.00 15,522.00
2016-12-31 129,515.00 47,064.00 10,413.00
2016-09-30 125,387.00 52,116.00 8,423.00
2016-06-30 123,924.00 54,929.00 7,869.00
2016-03-31 124,075.00 47,505.00 8,162.00
2015-12-31 124,789.00 58,482.00 9,756.00
2015-09-30 125,831.00 55,593.00 6,381.00
2015-06-30 125,720.00 53,153.00 6,726.00
2015-03-31 128,287.00 46,472.00 9,096.00
2014-12-31 126,002.00 54,686.00 9,342.00
2014-09-30 123,119.00 58,296.00 5,819.00
2014-06-30 120,526.00 48,831.00 6,996.00
2014-03-31 119,331.00 50,382.00 6,357.00
2013-12-31 121,300.00 64,313.00 8,530.00
2013-09-30 119,294.00 69,559.00 8,738.00
2013-06-30 118,542.00 65,826.00 8,176.00
  • Nisshin OilliO GroupLtd's level of debt (34.3%) 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 (42.8% vs 34.3% today).
  • Debt is well covered by operating cash flow (37.5%, greater than 20% of total debt).
  • Nisshin OilliO GroupLtd earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Nisshin OilliO GroupLtd'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. Nisshin OilliO GroupLtd 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.

2602 Dividends

 What is Nisshin OilliO GroupLtd'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
2.4%
Current annual income from Nisshin OilliO GroupLtd dividends. Estimated to be 2.4% next year.
If you bought ¥2,000 of Nisshin OilliO GroupLtd shares you are expected to receive ¥48 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?
  • Nisshin OilliO GroupLtd's pays a higher dividend yield than the bottom 25% of dividend payers in Japan (1.81%).
  • Nisshin OilliO GroupLtd's dividend is below the markets top 25% of dividend payers in Japan (4.2%).
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:2602 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 2 Analyst Estimates (S&P Global) See Below
Japan Food Industry Average Dividend Yield Market Cap Weighted Average of 107 Stocks 1.6%
Japan Market Average Dividend Yield Market Cap Weighted Average of 2988 Stocks 3%
Japan Minimum Threshold Dividend Yield 10th Percentile 1%
Japan Bottom 25% Dividend Yield 25th Percentile 1.8%
Japan Top 25% Dividend Yield 75th Percentile 4.2%

Industry and Market average data is calculated daily.

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

TSE:2602 Future Dividends Estimate Data
Date (Data in ¥) Dividend per Share (annual) Avg. No. Analysts
2024-03-31 80.00 1.00
2023-03-31 80.00 2.00
2022-03-31 80.00 2.00
2021-03-31 80.00 2.00
2020-04-06
2020-03-31 80.00 2.00
TSE:2602 Past Annualized Dividends Data
Date (Data in ¥) Dividend per share (annual) Avg. Yield (%)
2019-06-27 80.000 2.296
2019-05-10 80.000 2.531
2019-02-12 70.000 2.112
2019-02-08 70.000 2.127
2018-11-08 70.000 2.125
2018-11-07 70.000 2.075
2018-06-28 70.000 2.197
2018-05-09 70.000 2.151
2018-02-09 60.000 2.002
2018-02-08 60.000 1.991
2017-11-07 60.000 1.776
2017-11-02 60.000 1.729
2017-08-04 60.000 1.581
2017-06-23 60.000 1.824
2017-05-10 60.000 1.817
2017-02-09 50.000 1.598
2017-02-07 50.000 1.852
2016-11-08 50.000 1.949
2016-11-04 50.000 2.126
2016-06-24 50.000 2.138
2016-05-11 50.000 2.055
2016-02-08 50.000 2.163
2016-02-04 50.000 2.033
2015-11-09 50.000 2.090
2015-11-05 50.000 2.103
2015-06-25 50.000 2.153
2015-05-11 50.000 2.058
2015-02-10 50.000 2.248
2015-02-06 50.000 2.394
2014-11-10 50.000 2.439
2014-11-06 50.000 2.488
2014-06-25 50.000 2.712
2014-05-09 50.000 2.821
2014-02-12 50.000 2.985
2014-02-07 50.000 3.058
2013-11-11 50.000 3.025
2013-11-07 50.000 3.125
2013-06-26 50.000 2.874
2013-05-09 50.000 2.760
2013-02-13 50.000 2.946
2013-02-07 50.000 3.092
2012-11-06 50.000 3.207
2012-11-02 50.000 3.429
2012-08-07 50.000 3.305
2012-06-27 50.000 3.137
2012-05-09 50.000 3.166
2012-02-09 50.000 2.964
2012-02-07 50.000 3.061
2011-11-08 50.000 3.089
2011-11-04 50.000 2.939
2011-08-04 50.000 2.773
2011-05-10 50.000 2.627
2011-02-08 50.000 2.461
2011-02-04 50.000 2.412
2010-11-08 50.000 2.522
2010-11-04 50.000 2.855
2010-06-25 50.000 2.518
2010-05-07 50.000 2.172
2010-02-09 50.000 2.178
2010-02-05 50.000 2.142
2009-11-06 50.000 2.124
2009-11-04 50.000 2.108
2009-08-04 50.000 2.064
2009-05-08 50.000 2.024

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 Nisshin OilliO GroupLtd's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.3x 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 Nisshin OilliO GroupLtd'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 Nisshin OilliO GroupLtd afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Nisshin OilliO GroupLtd 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.

2602 Management

 What is the CEO of Nisshin OilliO GroupLtd'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
Takahisa Kuno
AGE 58
CEO Bio

Takahisa Kuno has been President of The Nisshin OilliO Group, Ltd. since June 23, 2017 and serves as its Head of Internal Audit Office. Takahisa Kuno served as Managing Executive Officer, Manager of Processing Use Business Department at The Nisshin OilliO Group, Ltd. until June 23, 2017 and served as its Managing Officer and Executive Officer. Takahisa Kuno In-charge, Processing Use Marketing Dept., Processed Oil and Fat Marketing Dept. and Soybean Protein Marketing Dept. Takahisa Kuno served as a Manager of Processing Business Department and Manager of Processed Oil Sales Department at The Nisshin OilliO Group, Ltd. Takahisa Kuno has been Director of The Nisshin OilliO Group, Ltd. since June 2014.

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

Takahisa Kuno

TITLE
President
AGE
58

Arata Kobayashi

TITLE
Managing Exec. Officer
AGE
58

Hidetoshi Ogami

TITLE
Managing Exec. Officer and Head of Materials Dept.
AGE
58

Nobuaki Yoshida

TITLE
Senior Managing Executive Officer
AGE
63

Masahiko Oka

TITLE
Managing Exec. Officer

Toshiaki Takayanagi

TITLE
Managing Executive Officer & Head of Fine Chemical Business
AGE
62

Yasushi Kawarasaki

TITLE
Managing Exec. Officer
AGE
61

Katsuaki Yamauchi

TITLE
Exec. Officer and Head of Central Research Institute

Hiroshi Nashiki

TITLE
Exec. Officer and Head of User Support Center

Yoshiharu Okano

TITLE
Managing Officer & Director
TENURE
1.3 yrs
Board of Directors Tenure

Average tenure and age of the Nisshin OilliO GroupLtd board of directors in years:

1.8
Average Tenure
58
Average Age
  • The average tenure for the Nisshin OilliO GroupLtd board of directors is less than 3 years, this suggests a new board.
Board of Directors

Takahisa Kuno

TITLE
President
AGE
58
TENURE
5.8 yrs

Arata Kobayashi

TITLE
Managing Exec. Officer
AGE
58

Hidetoshi Ogami

TITLE
Managing Exec. Officer and Head of Materials Dept.
AGE
58
TENURE
14.8 yrs

Nobuaki Yoshida

TITLE
Senior Managing Executive Officer
AGE
63
TENURE
5.8 yrs

Yasushi Kawarasaki

TITLE
Managing Exec. Officer
AGE
61
TENURE
1.8 yrs

Yoshiharu Okano

TITLE
Managing Officer & Director
TENURE
1.3 yrs

Sayuri Shirai

TITLE
Outside Director
AGE
56

Isao Yamamoto

TITLE
Outside Director
TENURE
1.3 yrs

Katsuhito Oba

TITLE
Audit & Supervisory Board Member
AGE
57

Takashi Fujii

TITLE
Standing Audit & Supervisory Board Member
AGE
65
TENURE
1.8 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 Nisshin OilliO GroupLtd'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. Nisshin OilliO GroupLtd 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.

2602 News

Simply Wall St News

2602 Company Info

Description

The Nisshin OilliO Group,Ltd. engages in oil and meal, processed oil and fat, fine chemical, and health science businesses in Japan, China, Taiwan, Malaysia, Singapore, Indonesia, and Europe. The company produces edible oil for use in household, commercial, and food processing; and oil meal, soy food, soy protein, and dressings, as well as foods for the elderly and nursing care patients, etc. It also provides margarines, shortenings, processed oil and fats, specialty fats, etc.; and raw materials for cosmetics, medium-chain triglycerides, food ingredients, chemical products, etc. In addition, the company develops and sells functional raw materials for use in the fields of pharmaceuticals and industrial products; meals for food and livestock feed; and food for diet and lifestyle-related diseases. Further, it is involved in the logistics, information-related services, sales promotion, and insurance agency businesses. Additionally, the company imports and sells fine chemical products, including oil for industrial and cosmetic uses, MCTs, etc.; manufactures and sells palm oil and specialty fats, chocolate products for commercial use, and vegetable oil; and manufactures confectionery supplies. The Nisshin OilliO Group,Ltd. was founded in 1907 and is headquartered in Tokyo, Japan.

Details
Name: The Nisshin OilliO Group,Ltd.
2602
Exchange: TSE
Founded: 1907
¥111,236,990,700
33,354,420
Website: http://www.nisshin-oillio.com
Address: The Nisshin OilliO Group,Ltd.
1-23-1, Shinkawa,
Chuo-ku,
Tokyo,
104-8285,
Japan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSE 2602 Common Shares The Tokyo Stock Exchange JP JPY 06. Jan 1992
Number of employees
Current staff
Staff numbers
2,786
Nisshin OilliO GroupLtd employees.
Industry
Packaged Foods and Meats
Food, Beverage & Tobacco
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/06 16:18
End of day share price update: 2020/04/06 00:00
Last estimates confirmation: 2020/03/31
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.