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Hakuhodo DY Holdings

TSE:2433
Snowflake Description

Excellent balance sheet and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
2433
TSE
¥620B
Market Cap
  1. Home
  2. JP
  3. Media
Company description

Hakuhodo DY Holdings Inc., through its subsidiaries, operates as a marketing services company in Japan and internationally. The last earnings update was 71 days ago. More info.


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2433 Share Price and Events
7 Day Returns
-1.9%
TSE:2433
1.2%
JP Media
0.4%
JP Market
1 Year Returns
0.7%
TSE:2433
-6.5%
JP Media
12.2%
JP Market
2433 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Hakuhodo DY Holdings (2433) -1.9% -6.5% 2.3% 0.7% 17.3% 40.8%
JP Media 1.2% 0.8% 6.2% -6.5% -5.3% 6.3%
JP Market 0.4% 0.6% 5.3% 12.2% 13.9% 26.2%
1 Year Return vs Industry and Market
  • 2433 outperformed the Media industry which returned -6.5% over the past year.
  • 2433 underperformed the Market in Japan which returned 12.2% over the past year.
Price Volatility
2433
Industry
5yr Volatility vs Market

Value

 Is Hakuhodo DY Holdings 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 Hakuhodo DY Holdings 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 Hakuhodo DY Holdings.

TSE:2433 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 10 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 5.7%
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:2433
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year JP Govt Bond Rate -0.1%
Equity Risk Premium S&P Global 6.3%
Media Unlevered Beta Simply Wall St/ S&P Global 0.78
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.776 (1 + (1- 30.86%) (17.96%))
0.914
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.91
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.09% + (0.914 * 6.33%)
5.7%

Discounted Cash Flow Calculation for TSE:2433 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Hakuhodo DY Holdings 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:2433 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (JPY, Millions) Source Present Value
Discounted (@ 5.7%)
2020 35,084.83 Analyst x6 33,193.53
2021 35,364.00 Analyst x7 31,654.06
2022 38,031.83 Analyst x6 32,206.94
2023 37,303.33 Analyst x3 29,887.11
2024 49,800.00 Analyst x2 37,748.49
2025 53,486.79 Est @ 7.4% 38,357.55
2026 56,244.17 Est @ 5.16% 38,160.66
2027 58,258.65 Est @ 3.58% 37,396.66
2028 59,703.56 Est @ 2.48% 36,258.24
2029 60,723.96 Est @ 1.71% 34,889.97
Present value of next 10 years cash flows ¥349,753.00
TSE:2433 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= ¥60,723.96 × (1 + -0.09%) ÷ (5.7% – -0.09%)
¥1,048,227.55
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ¥1,048,227.55 ÷ (1 + 5.7%)10
¥602,276.77
TSE:2433 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ¥349,753.00 + ¥602,276.77
¥952,029.77
Equity Value per Share
(JPY)
= Total value / Shares Outstanding
= ¥952,029.77 / 373.24
¥2550.71
TSE:2433 Discount to Share Price
Calculation Result
Value per share (JPY) From above. ¥2,550.71
Current discount Discount to share price of ¥1,662.00
= -1 x (¥1,662.00 - ¥2,550.71) / ¥2,550.71
34.8%

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

Current Discount
Amount off the current price Hakuhodo DY Holdings is available for.
Intrinsic value
35%
Share price is ¥1662 vs Future cash flow value of ¥2550.71
Current Discount Checks
For Hakuhodo DY Holdings to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Hakuhodo DY Holdings's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Hakuhodo DY Holdings'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 Hakuhodo DY Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Hakuhodo DY Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSE:2433 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in JPY ¥107.07
TSE:2433 Share Price ** TSE (2020-01-24) in JPY ¥1662
Japan Media Industry PE Ratio Median Figure of 74 Publicly-Listed Media Companies 19.06x
Japan Market PE Ratio Median Figure of 3,078 Publicly-Listed Companies 16.02x

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

** Primary Listing of Hakuhodo DY Holdings.

TSE:2433 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSE:2433 Share Price ÷ EPS (both in JPY)

= 1662 ÷ 107.07

15.52x

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

  • Hakuhodo DY Holdings is good value based on earnings compared to the JP Media industry average.
  • Hakuhodo DY Holdings is good value based on earnings compared to the Japan market.
Price based on expected Growth
Does Hakuhodo DY Holdings's expected growth come at a high price?
Raw Data
TSE:2433 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 15.52x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts
3.9%per year
Japan Media Industry PEG Ratio Median Figure of 29 Publicly-Listed Media Companies 1.83x
Japan Market PEG Ratio Median Figure of 1,281 Publicly-Listed Companies 1.89x

*Line of best fit is calculated by linear regression .

TSE:2433 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 15.52x ÷ 3.9%

4x

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

  • Hakuhodo DY Holdings is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Hakuhodo DY Holdings's assets?
Raw Data
TSE:2433 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in JPY ¥752.42
TSE:2433 Share Price * TSE (2020-01-24) in JPY ¥1662
Japan Media Industry PB Ratio Median Figure of 92 Publicly-Listed Media Companies 1.82x
Japan Market PB Ratio Median Figure of 3,547 Publicly-Listed Companies 1.16x
TSE:2433 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSE:2433 Share Price ÷ Book Value per Share (both in JPY)

= 1662 ÷ 752.42

2.21x

* Primary Listing of Hakuhodo DY Holdings.

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

  • Hakuhodo DY Holdings is overvalued based on assets compared to the JP Media industry average.
X
Value checks
We assess Hakuhodo DY Holdings'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 Media 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 Media industry average (and greater than 0)? (1 check)
  5. Hakuhodo DY Holdings 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 Hakuhodo DY Holdings expected to perform in the next 1 to 3 years based on estimates from 10 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
3.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Hakuhodo DY Holdings expected to grow at an attractive rate?
  • Hakuhodo DY Holdings's earnings growth is expected to exceed the low risk savings rate of -0.1%.
Growth vs Market Checks
  • Hakuhodo DY Holdings's earnings growth is positive but not above the Japan market average.
  • Hakuhodo DY Holdings's revenue growth is expected to exceed the Japan market average.
Annual Growth Rates Comparison
Raw Data
TSE:2433 Future Growth Rates Data Sources
Data Point Source Value (per year)
TSE:2433 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts 3.9%
TSE:2433 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 10 Analysts 4.7%
Japan Media Industry Earnings Growth Rate Market Cap Weighted Average 14.7%
Japan Media Industry Revenue Growth Rate Market Cap Weighted Average 3.9%
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:2433 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below
All numbers in JPY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSE:2433 Future Estimates Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-03-31 1,835,650 64,300 52,000 2
2023-03-31 1,705,667 51,888 45,567 3
2022-03-31 1,625,045 53,235 42,345 8
2021-03-31 1,554,167 48,053 39,481 10
2020-03-31 1,497,816 51,743 42,575 10
2020-01-24
TSE:2433 Past Financials Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income *
2019-09-30 1,465,066 37,154 39,945
2019-06-30 1,454,717 36,970 40,147
2019-03-31 1,445,614 53,522 47,408
2018-12-31 1,430,967 48,861 45,327
2018-09-30 1,387,460 40,563 45,112
2018-06-30 1,357,736 39,498 35,253
2018-03-31 1,335,030 32,372 29,834
2017-12-31 1,316,255 30,197 29,499
2017-09-30 1,292,871 17,609 27,084
2017-06-30 1,277,531 21,670 27,268
2017-03-31 1,255,474 16,288 25,880
2016-12-31 1,241,439 22,153 28,145

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Hakuhodo DY Holdings's earnings are expected to grow by 3.9% yearly, however this is not considered high growth (20% yearly).
  • Hakuhodo DY Holdings's revenue is expected to grow by 4.7% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
TSE:2433 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 10 Analyst Estimates (S&P Global) See Below

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

TSE:2433 Future Estimates Data
Date (Data in JPY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-03-31 139.40 140.70 138.10 2.00
2023-03-31 122.10 130.70 108.30 3.00
2022-03-31 114.67 128.95 101.13 9.00
2021-03-31 105.75 115.80 98.90 11.00
2020-03-31 117.57 127.00 112.53 7.00
2020-01-24
TSE:2433 Past Financials Data
Date (Data in JPY Millions) EPS *
2019-09-30 107.07
2019-06-30 107.62
2019-03-31 127.11
2018-12-31 121.54
2018-09-30 120.98
2018-06-30 94.56
2018-03-31 80.03
2017-12-31 79.14
2017-09-30 72.67
2017-06-30 73.17
2017-03-31 69.45
2016-12-31 75.53

*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.
  • Hakuhodo DY Holdings is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Hakuhodo DY Holdings'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.
Hakuhodo DY Holdings has a total score of 2/6, 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 Hakuhodo DY Holdings 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 Hakuhodo DY Holdings's growth in the last year to its industry (Media).
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.
  • Hakuhodo DY Holdings's year on year earnings growth rate has been positive over the past 5 years.
  • Hakuhodo DY Holdings's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Hakuhodo DY Holdings's 1-year earnings growth is negative, it can't be compared to the JP Media industry average.
Earnings and Revenue History
Hakuhodo DY Holdings'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 Hakuhodo DY Holdings Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSE:2433 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 1,465,066.00 39,945.00 264,731.00
2019-06-30 1,454,717.00 40,147.00 260,502.00
2019-03-31 1,445,614.00 47,408.00 254,585.00
2018-12-31 1,430,967.00 45,327.00 242,917.00
2018-09-30 1,387,460.00 45,112.00 234,872.00
2018-06-30 1,357,736.00 35,253.00 225,434.00
2018-03-31 1,335,030.00 29,834.00 217,162.00
2017-12-31 1,316,255.00 29,499.00 211,836.00
2017-09-30 1,292,871.00 27,084.00 206,575.00
2017-06-30 1,277,531.00 27,268.00 201,610.00
2017-03-31 1,255,474.00 25,880.00 198,852.00
2016-12-31 1,241,439.00 28,145.00 194,253.00
2016-09-30 1,241,609.00 29,011.00 192,585.00
2016-06-30 1,228,028.00 28,585.00 190,720.00
2016-03-31 1,215,250.00 28,531.00 185,675.00
2015-12-31 1,179,478.00 23,012.00 179,558.00
2015-09-30 1,143,737.00 20,720.00 175,312.00
2015-06-30 1,137,688.00 20,082.00 171,227.00
2015-03-31 1,131,064.00 19,879.00 167,499.00
2014-12-31 1,134,038.00 22,119.00 164,837.00
2014-09-30 1,125,075.00 20,816.00 160,517.00
2014-06-30 1,109,177.00 20,195.00 156,915.00
2014-03-31 1,095,909.00 18,721.00 155,250.00
2013-12-31 1,065,297.00 14,690.00 152,018.00
2013-09-30 1,056,446.00 14,025.00 151,860.00
2013-06-30 1,044,389.00 12,034.00 150,452.00
2013-03-31 1,045,431.00 12,894.00 148,886.00

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

Health

 How is Hakuhodo DY Holdings'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 Hakuhodo DY Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Hakuhodo DY Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Hakuhodo DY Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Hakuhodo DY Holdings'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.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 4.6x 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 Hakuhodo DY Holdings Company Filings, last reported 3 months ago.

TSE:2433 Past Debt and Equity Data
Date (Data in JPY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 310,192.00 111,381.00 157,728.00
2019-06-30 311,646.00 114,476.00 161,242.00
2019-03-31 316,693.00 116,051.00 196,491.00
2018-12-31 285,876.00 112,570.00 146,311.00
2018-09-30 325,960.00 102,388.00 159,690.00
2018-06-30 414,842.00 10,017.00 187,337.00
2018-03-31 367,365.00 9,955.00 150,780.00
2017-12-31 358,729.00 9,383.00 133,632.00
2017-09-30 341,899.00 9,496.00 130,418.00
2017-06-30 326,827.00 10,855.00 140,935.00
2017-03-31 325,817.00 11,828.00 152,244.00
2016-12-31 304,744.00 10,257.00 126,785.00
2016-09-30 295,658.00 9,430.00 132,845.00
2016-06-30 289,180.00 9,354.00 139,567.00
2016-03-31 294,031.00 8,085.00 156,721.00
2015-12-31 292,934.00 8,041.00 131,926.00
2015-09-30 285,876.00 8,292.00 130,958.00
2015-06-30 280,864.00 5,727.00 139,891.00
2015-03-31 282,729.00 4,596.00 162,494.00
2014-12-31 260,715.00 4,752.00 133,594.00
2014-09-30 243,999.00 4,631.00 126,237.00
2014-06-30 235,296.00 4,550.00 119,322.00
2014-03-31 254,508.00 5,066.00 139,983.00
2013-12-31 250,244.00 3,474.00 114,264.00
2013-09-30 244,801.00 3,495.00 109,357.00
2013-06-30 236,468.00 4,674.00 105,344.00
2013-03-31 234,350.00 3,049.00 113,948.00
  • Hakuhodo DY Holdings's level of debt (35.9%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (1.9% vs 35.9% today).
  • Debt is well covered by operating cash flow (33.4%, greater than 20% of total debt).
  • Hakuhodo DY Holdings earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Hakuhodo DY Holdings'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. Hakuhodo DY Holdings has a total score of 5/6, 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 Hakuhodo DY Holdings'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
1.81%
Current annual income from Hakuhodo DY Holdings dividends. Estimated to be 1.86% next year.
If you bought ¥2,000 of Hakuhodo DY Holdings shares you are expected to receive ¥36 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?
  • Hakuhodo DY Holdings's pays a higher dividend yield than the bottom 25% of dividend payers in Japan (1.31%).
  • Hakuhodo DY Holdings's dividend is below the markets top 25% of dividend payers in Japan (2.92%).
Upcoming dividend payment

Purchase Hakuhodo DY Holdings 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:2433 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 10 Analyst Estimates (S&P Global) See Below
Japan Media Industry Average Dividend Yield Market Cap Weighted Average of 64 Stocks 2%
Japan Market Average Dividend Yield Market Cap Weighted Average of 2975 Stocks 2.3%
Japan Minimum Threshold Dividend Yield 10th Percentile 0.7%
Japan Bottom 25% Dividend Yield 25th Percentile 1.3%
Japan Top 25% Dividend Yield 75th Percentile 2.9%

Industry and Market average data is calculated daily.

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

TSE:2433 Future Dividends Estimate Data
Date (Data in ¥) Dividend per Share (annual) Avg. No. Analysts
2024-03-31 37.50 2.00
2023-03-31 32.67 3.00
2022-03-31 31.44 9.00
2021-03-31 30.18 11.00
2020-03-31 29.27 11.00
2020-01-24
TSE:2433 Past Annualized Dividends Data
Date (Data in ¥) Dividend per share (annual) Avg. Yield (%)
2019-11-14 30.000 1.707
2019-11-11 30.000 1.676
2019-06-28 30.000 1.831
2019-05-14 30.000 1.699
2019-02-14 28.000 1.584
2018-11-14 28.000 1.699
2018-11-09 28.000 1.560
2018-06-29 28.000 1.540
2018-05-11 28.000 1.642
2018-02-13 26.000 1.724
2017-11-14 26.000 1.687
2017-11-08 26.000 1.707
2017-06-30 26.000 1.711
2017-05-12 26.000 1.757
2017-02-14 24.000 1.771
2017-02-06 24.000 1.808
2016-11-14 24.000 1.743
2016-11-08 24.000 1.882
2016-08-01 24.000 2.045
2016-05-12 24.000 1.883
2016-02-12 18.000 1.426
2016-02-05 18.000 1.438
2015-11-13 18.000 1.395
2015-11-06 18.000 1.383
2015-06-29 18.000 1.435
2015-05-12 18.000 1.382
2015-02-13 15.000 1.145
2015-02-05 15.000 1.283
2014-11-14 15.000 1.302
2014-11-07 15.000 1.288
2014-06-30 15.000 1.424
2014-05-09 15.000 1.612
2014-02-13 9.000 1.197
2014-02-06 9.000 1.148
2013-11-12 1.200 0.148
2013-11-07 1.200 0.156
2013-08-05 9.000 1.255
2013-06-28 8.000 1.123
2013-05-09 9.000 1.287
2013-02-13 8.000 1.090
2013-02-08 8.000 1.206
2012-11-12 8.000 1.441
2012-11-09 8.000 1.732
2012-08-08 8.000 1.596
2012-06-29 7.000 1.341
2012-02-13 7.000 1.411
2012-02-07 7.000 1.493
2011-11-14 7.000 1.599
2011-08-05 7.000 1.644
2011-06-30 7.000 1.615
2011-05-12 7.000 1.720
2011-02-10 7.000 1.543
2011-02-04 7.000 1.408
2010-11-12 7.000 1.532
2010-11-10 7.000 1.659
2010-08-05 7.000 1.722
2010-06-30 7.000 1.586
2010-05-13 7.000 1.487
2010-02-05 7.000 1.463
2009-11-10 7.000 1.575
2009-05-14 7.000 1.428
2009-02-13 9.000 2.078
2009-02-09 9.000 2.196

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 Hakuhodo DY Holdings's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.7x 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 Hakuhodo DY Holdings's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.7%) - 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 Hakuhodo DY Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Hakuhodo DY Holdings has a total score of 3/6, 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 Hakuhodo DY Holdings'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
Hirokazu Toda
COMPENSATION ¥111,000,000
TENURE AS CEO 9.6 years
CEO Bio

Mr. Hirokazu Toda has been the Chief Executive Officer and President at Hakuhodo Incorporated since April 1, 2010. Mr. Toda has been Chief Executive Officer of Hakuhodo Dy Holdings Inc. since April 2010 and served its President since April 2010 until June 2019 & has been its Chairman since June 2019 and oversees the Human Resources Management Division and Corporate Strategy Division. Mr. Toda served as the Managing Director of Hakuhodo Dy Holdings Inc. He serves as Representative Director of Hakuhodo Dy Holdings Inc. and Hakuhodo Incorporated. He is Chairman of Hakuhodo Inc.

CEO Compensation
  • Hirokazu's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Hirokazu's remuneration is about average for companies of similar size in Japan.
Management Team Tenure

Average tenure and age of the Hakuhodo DY Holdings management team in years:

2.6
Average Tenure
62
Average Age
  • The tenure for the Hakuhodo DY Holdings management team is about average.
Management Team

Hirokazu Toda

TITLE
Chairman
COMPENSATION
¥111M
TENURE
9.6 yrs

Masanori Nishioka

TITLE
CFO, Senior Corporate Officer & Director
AGE
62
TENURE
0.5 yrs

Yoshitaka Nakatani

TITLE
Senior Corporate Officer

Junji Narita

TITLE
Senior Advisor & Director
AGE
93
TENURE
0.6 yrs

Mitsumasa Matsuzaki

TITLE
Chief of Group Corporate Strategy
AGE
65

Tomoyuki Imaizumi

TITLE
Chief Officer of Human Resources & General Affairs Unit
AGE
62
TENURE
4.6 yrs

Masaya Shimada

TITLE
Chief Officer of Digital Business Unit & Corporate Officer
AGE
53
Board of Directors Tenure

Average tenure and age of the Hakuhodo DY Holdings board of directors in years:

4
Average Tenure
65
Average Age
  • The tenure for the Hakuhodo DY Holdings board of directors is about average.
Board of Directors

Hirokazu Toda

TITLE
Chairman
COMPENSATION
¥111M
TENURE
0.6 yrs

Masanori Nishioka

TITLE
CFO, Senior Corporate Officer & Director
AGE
62
TENURE
0.5 yrs

Yoshitaka Nakatani

TITLE
Senior Corporate Officer

Junji Narita

TITLE
Senior Advisor & Director
AGE
93

Mitsumasa Matsuzaki

TITLE
Chief of Group Corporate Strategy
AGE
65

Tomoyuki Imaizumi

TITLE
Chief Officer of Human Resources & General Affairs Unit
AGE
62
TENURE
4.6 yrs

Hiroshi Ochiai

TITLE
Representative Director

Noboru Matsuda

TITLE
Outside Director
AGE
86
TENURE
4.6 yrs

Nobumichi Hattori

TITLE
Outside Director
TENURE
4.6 yrs

Daisuke Fujinuma

TITLE
Representative Director
TENURE
3.5 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 Hakuhodo DY Holdings'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. Hakuhodo DY Holdings 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

Hakuhodo DY Holdings Inc., through its subsidiaries, operates as a marketing services company in Japan and internationally. It offers planning, production, marketing, public relations, and other services related to the presentation of advertising in various media, such as newspapers, magazines, radio, television, and digital media. The company also provides brand building services; and specializes in business development in the entertainment field, including animated programs and live events. In addition, it is involved in the planning, production, buying, and media traffic in media and contents businesses, as well as provision of marketing solutions for advertisers, media companies, and content holders. Hakuhodo DY Holdings Inc. was founded in 2003 and is headquartered in Tokyo, Japan.

Details
Name: Hakuhodo DY Holdings Inc
2433
Exchange: TSE
Founded: 2003
¥620,327,063,868
373,241,314
Website: http://www.hakuhodody-holdings.co.jp
Address: Hakuhodo DY Holdings Inc
Akasaka Biz Tower,
5-3-1 Akasaka,
Tokyo,
107-6320,
Japan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSE 2433 Common Stock The Tokyo Stock Exchange JP JPY 16. Feb 2005
OTCPK HKUO.F Common Stock Pink Sheets LLC US USD 16. Feb 2005
DB HDU Common Stock Deutsche Boerse AG DE EUR 16. Feb 2005
OTCPK HKUO.Y UNSPONSORED ADR Pink Sheets LLC US USD 31. Oct 2011
Number of employees
Current staff
Staff numbers
21,469
Hakuhodo DY Holdings employees.
Industry
Advertising
Media
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/01/24 15:18
End of day share price update: 2020/01/24 00:00
Last estimates confirmation: 2020/01/17
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.