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Z Holdings

TSE:4689
Snowflake Description

Average dividend payer and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
4689
TSE
¥1,481B
Market Cap
  1. Home
  2. JP
  3. Media
Company description

Z Holdings Corporation, together with its subsidiaries, engages in media and commerce businesses in Japan. The last earnings update was 51 days ago. More info.


Add to Portfolio Compare Print
  • Z Holdings has significant price volatility in the past 3 months.
4689 Share Price and Events
7 Day Returns
-9.9%
TSE:4689
-5.6%
JP Interactive Media and Services
-8.9%
JP Market
1 Year Returns
11.1%
TSE:4689
-1.6%
JP Interactive Media and Services
-17.9%
JP Market
4689 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Z Holdings (4689) -9.9% -21.3% -32.5% 11.1% -40% -41.4%
JP Interactive Media and Services -5.6% -16.3% -26.7% -1.6% -25.2% -40%
JP Market -8.9% -12.1% -22.9% -17.9% -10.5% -14%
1 Year Return vs Industry and Market
  • 4689 outperformed the Interactive Media and Services industry which returned -1.6% over the past year.
  • 4689 outperformed the Market in Japan which returned -17.9% over the past year.
Price Volatility
4689
Industry
5yr Volatility vs Market
Related Companies

Value

 Is Z 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 Z 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 Z Holdings.

TSE:4689 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 11 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.5%
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:4689
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year JP Govt Bond Rate -0.1%
Equity Risk Premium S&P Global 6.3%
Interactive Media and Services Unlevered Beta Simply Wall St/ S&P Global 1.03
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.029 (1 + (1- 30.86%) (71.97%))
1.362
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.36
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.09% + (1.362 * 6.33%)
8.53%

Discounted Cash Flow Calculation for TSE:4689 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Z 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:4689 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (JPY, Millions) Source Present Value
Discounted (@ 8.53%)
2020 33,079.50 Analyst x2 30,478.32
2021 74,749.20 Analyst x5 63,455.70
2022 109,468.20 Analyst x5 85,621.75
2023 134,712.00 Analyst x1 97,081.04
2024 165,355.00 Analyst x1 109,793.73
2025 187,013.20 Est @ 13.1% 114,410.13
2026 204,109.20 Est @ 9.14% 115,050.06
2027 217,115.28 Est @ 6.37% 112,757.83
2028 226,741.06 Est @ 4.43% 108,497.19
2029 233,716.61 Est @ 3.08% 103,040.97
Present value of next 10 years cash flows ¥940,186.00
TSE:4689 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= ¥233,716.61 × (1 + -0.09%) ÷ (8.53% – -0.09%)
¥2,707,464.01
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ¥2,707,464.01 ÷ (1 + 8.53%)10
¥1,193,666.69
TSE:4689 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ¥940,186.00 + ¥1,193,666.69
¥2,133,852.69
Equity Value per Share
(JPY)
= Total value / Shares Outstanding
= ¥2,133,852.69 / 4,762.45
¥448.06
TSE:4689 Discount to Share Price
Calculation Result
Value per share (JPY) From above. ¥448.06
Current discount Discount to share price of ¥311.00
= -1 x (¥311.00 - ¥448.06) / ¥448.06
30.6%

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

Current Discount
Amount off the current price Z Holdings is available for.
Intrinsic value
31%
Share price is ¥311 vs Future cash flow value of ¥448.06
Current Discount Checks
For Z Holdings to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Z Holdings's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Z 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 Z Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Z Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSE:4689 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in JPY ¥16.98
TSE:4689 Share Price ** TSE (2020-04-03) in JPY ¥311
Japan Interactive Media and Services Industry PE Ratio Median Figure of 46 Publicly-Listed Interactive Media and Services Companies 21.82x
Japan Market PE Ratio Median Figure of 3,072 Publicly-Listed Companies 11.52x

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

** Primary Listing of Z Holdings.

TSE:4689 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSE:4689 Share Price ÷ EPS (both in JPY)

= 311 ÷ 16.98

18.31x

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

  • Z Holdings is good value based on earnings compared to the JP Interactive Media and Services industry average.
  • Z Holdings is overvalued based on earnings compared to the Japan market.
Price based on expected Growth
Does Z Holdings's expected growth come at a high price?
Raw Data
TSE:4689 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 18.31x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts
16%per year
Japan Interactive Media and Services Industry PEG Ratio Median Figure of 16 Publicly-Listed Interactive Media and Services Companies 1.25x
Japan Market PEG Ratio Median Figure of 1,282 Publicly-Listed Companies 1.26x

*Line of best fit is calculated by linear regression .

TSE:4689 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 18.31x ÷ 16%

1.15x

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

  • Z Holdings is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Z Holdings's assets?
Raw Data
TSE:4689 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in JPY ¥162.32
TSE:4689 Share Price * TSE (2020-04-03) in JPY ¥311
Japan Interactive Media and Services Industry PB Ratio Median Figure of 57 Publicly-Listed Interactive Media and Services Companies 2.11x
Japan Market PB Ratio Median Figure of 3,576 Publicly-Listed Companies 0.8x
TSE:4689 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSE:4689 Share Price ÷ Book Value per Share (both in JPY)

= 311 ÷ 162.32

1.92x

* Primary Listing of Z Holdings.

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

  • Z Holdings is good value based on assets compared to the JP Interactive Media and Services industry average.
X
Value checks
We assess Z 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 Interactive Media and Services 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 Interactive Media and Services industry average (and greater than 0)? (1 check)
  5. Z 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 Z Holdings expected to perform in the next 1 to 3 years based on estimates from 11 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
16%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Z Holdings expected to grow at an attractive rate?
  • Z Holdings's earnings growth is expected to exceed the low risk savings rate of -0.1%.
Growth vs Market Checks
  • Z Holdings's earnings growth is expected to exceed the Japan market average.
  • Z Holdings's revenue growth is expected to exceed the Japan market average.
Annual Growth Rates Comparison
Raw Data
TSE:4689 Future Growth Rates Data Sources
Data Point Source Value (per year)
TSE:4689 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts 16%
TSE:4689 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 11 Analysts 6.9%
Japan Interactive Media and Services Industry Earnings Growth Rate Market Cap Weighted Average 35%
Japan Interactive Media and Services Industry Revenue Growth Rate Market Cap Weighted Average 9%
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:4689 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below
All numbers in JPY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSE:4689 Future Estimates Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-03-31 1,349,144 222,845 169,445 3
2023-03-31 1,276,570 201,049 148,707 3
2022-03-31 1,301,026 185,962 112,571 8
2021-03-31 1,154,060 185,211 91,652 11
2020-04-04
2020-03-31 1,048,529 127,572 87,909 7
TSE:4689 Past Financials Data
Date (Data in JPY Millions) Revenue Cash Flow Net Income *
2019-12-31 1,006,738 109,691 83,561
2019-09-30 973,841 128,702 74,707
2019-06-30 961,493 116,941 73,383
2019-03-31 954,714 149,957 78,677
2018-12-31 945,982 87,384 98,187
2018-09-30 934,181 80,949 118,660
2018-06-30 916,311 83,665 127,915
2018-03-31 897,185 75,457 131,153
2017-12-31 881,566 121,879 134,928
2017-09-30 872,157 131,386 135,110
2017-06-30 862,199 138,712 136,992
2017-03-31 853,730 127,023 136,589

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Z Holdings's earnings are expected to grow by 16% yearly, however this is not considered high growth (20% yearly).
  • Z Holdings's revenue is expected to grow by 6.9% 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:4689 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 11 Analyst Estimates (S&P Global) See Below

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

TSE:4689 Future Estimates Data
Date (Data in JPY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-03-31 35.55 36.70 34.40 2.00
2023-03-31 31.20 32.10 30.30 2.00
2022-03-31 23.26 28.69 16.00 10.00
2021-03-31 19.09 25.30 9.70 12.00
2020-04-04
2020-03-31 18.14 21.30 16.60 13.00
TSE:4689 Past Financials Data
Date (Data in JPY Millions) EPS *
2019-12-31 16.98
2019-09-30 14.94
2019-06-30 14.16
2019-03-31 14.74
2018-12-31 17.89
2018-09-30 21.03
2018-06-30 22.47
2018-03-31 23.04
2017-12-31 23.70
2017-09-30 23.73
2017-06-30 24.06
2017-03-31 23.99

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

TSE:4689 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 1,006,738.00 83,561.00 438,603.00
2019-09-30 973,841.00 74,707.00 420,171.00
2019-06-30 961,493.00 73,383.00 415,974.00
2019-03-31 954,714.00 78,677.00 406,581.00
2018-12-31 945,982.00 98,187.00 392,439.00
2018-09-30 934,181.00 118,660.00 373,211.00
2018-06-30 916,311.00 127,915.00 357,790.00
2018-03-31 897,185.00 131,153.00 339,573.00
2017-12-31 881,566.00 134,928.00 315,878.00
2017-09-30 872,157.00 135,110.00 305,179.00
2017-06-30 862,199.00 136,992.00 288,042.00
2017-03-31 853,730.00 136,589.00 277,430.00
2016-12-31 837,986.00 122,885.00 285,333.00
2016-09-30 813,051.00 115,989.00 278,818.00
2016-06-30 746,011.00 173,745.00 264,554.00
2016-03-31 652,327.00 171,617.00 239,653.00
2015-12-31 562,950.00 186,488.00 197,339.00
2015-09-30 474,093.00 191,180.00 166,744.00
2015-06-30 439,116.00 130,015.00 151,405.00
2015-03-31 428,488.00 133,052.00 145,774.00
2014-12-31 412,209.00 132,088.00 142,202.00
2014-09-30 401,510.00 129,128.00 141,746.00
2014-06-30 393,900.00 129,248.00 139,460.00
2014-03-31 408,515.00 128,605.00 136,216.00
2013-12-31 382,887.00 124,990.00 136,611.00
2013-09-30 374,647.00 125,421.00 130,728.00
2013-06-30 357,724.00 122,225.00 100,129.00

*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.
  • Z Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Z Holdings used its assets less efficiently than the JP Interactive Media and Services industry average last year based on Return on Assets.
  • Z Holdings's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Z 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 Interactive Media and Services 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.
Z Holdings has a total score of 0/6, 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 Z 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 Z Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Z Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Z Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Z 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 2.2x 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 Z Holdings Company Filings, last reported 3 months ago.

TSE:4689 Past Debt and Equity Data
Date (Data in JPY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 1,051,946.00 1,066,006.00 729,974.00
2019-09-30 840,270.00 610,222.00 743,350.00
2019-06-30 815,476.00 454,587.00 565,127.00
2019-03-31 910,522.00 215,212.00 546,784.00
2018-12-31 900,373.00 211,905.00 548,324.00
2018-09-30 889,286.00 240,113.00 603,570.00
2018-06-30 1,085,973.00 187,512.00 783,176.00
2018-03-31 1,121,886.00 190,574.00 868,325.00
2017-12-31 1,054,925.00 177,553.00 588,542.00
2017-09-30 1,018,153.00 107,174.00 512,135.00
2017-06-30 988,010.00 104,666.00 497,495.00
2017-03-31 998,708.00 99,120.00 543,067.00
2016-12-31 963,875.00 59,940.00 451,300.00
2016-09-30 930,475.00 61,256.00 453,966.00
2016-06-30 897,658.00 40,875.00 400,218.00
2016-03-31 912,764.00 20,151.00 479,283.00
2015-12-31 900,212.00 0.00 520,828.00
2015-09-30 868,421.00 0.00 521,829.00
2015-06-30 724,837.00 0.00 457,978.00
2015-03-31 740,554.00 700.00 519,839.00
2014-12-31 697,789.00 0.00 479,934.00
2014-09-30 667,749.00 0.00 485,335.00
2014-06-30 636,555.00 0.00 443,662.00
2014-03-31 627,719.00 0.00 494,650.00
2013-12-31 601,575.00 0.00 507,618.00
2013-09-30 590,292.00 0.00 521,690.00
2013-06-30 559,228.00 0.00 466,678.00
  • Z Holdings's level of debt (101.3%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (0% vs 101.3% today).
  • Debt is not well covered by operating cash flow (10.3%, less than 20% of total debt).
  • Unable to confirm if the interest payments on Z Holdings's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess Z 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. Z Holdings has a total score of 2/6, 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 Z 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
2.85%
Current annual income from Z Holdings dividends. Estimated to be 2.79% next year.
If you bought ¥2,000 of Z Holdings shares you are expected to receive ¥57 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?
  • Z Holdings's pays a higher dividend yield than the bottom 25% of dividend payers in Japan (1.81%).
  • Z Holdings'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:4689 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 11 Analyst Estimates (S&P Global) See Below
Japan Interactive Media and Services Industry Average Dividend Yield Market Cap Weighted Average of 16 Stocks 2.8%
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:4689 Future Dividends Estimate Data
Date (Data in ¥) Dividend per Share (annual) Avg. No. Analysts
2024-03-31 8.90 1.00
2023-03-31 8.90 1.00
2022-03-31 8.85 8.00
2021-03-31 8.50 10.00
2020-04-04
2020-03-31 8.89 11.00
TSE:4689 Past Annualized Dividends Data
Date (Data in ¥) Dividend per share (annual) Avg. Yield (%)
2019-06-17 8.860 2.544
2019-04-25 8.860 2.870
2018-06-18 8.860 2.693
2018-04-27 8.860 2.242
2017-06-19 8.860 1.754
2017-04-26 8.860 1.820
2016-09-20 8.860 1.922
2016-06-20 8.860 2.018
2016-04-28 8.860 1.778
2015-09-24 8.860 1.861
2015-06-17 8.860 1.759
2015-05-01 8.860 1.730
2014-09-19 4.430 1.007
2014-06-18 4.430 0.995
2014-04-25 4.430 0.957
2014-01-29 4.430 0.795
2013-10-25 4.210 0.789
2013-09-17 4.010 0.754
2013-08-20 4.010 0.796
2013-04-25 4.010 0.804
2012-08-23 3.470 1.083
2012-04-24 3.470 1.376
2011-04-22 3.180 1.248
2010-04-27 2.880 0.925
2009-09-29 1.300 0.426
2009-06-23 1.300 0.431
2009-04-28 1.300 0.491

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 Z Holdings's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.9x 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 Z Holdings'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 Z Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Z Holdings has a total score of 4/6, see the detailed checks below.


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

Management

 What is the CEO of Z 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
Kentaro Kawabe
COMPENSATION ¥129,000,000
TENURE AS CEO 2 years
CEO Bio

Mr. Kentaro Kawabe has been Executive Director at ZOZO, Inc. since January 2020. Mr. Kawabe has been Representative Director and President Corporate Officer of Z Holdings Corporation (formerly known as Yahoo Japan Corporation) since June 2018. Mr. Kawabe has been the President and Chief Executive Officer of Z Holdings Corporation (formerly known as Yahoo Japan Corporation) since June 2018 and April 2018 respectively. Mr. Kawabe was Chief Operating Officer of Z Holdings Corporation (formerly known as Yahoo Japan Corporation) since July 02, 2012 until June 2018 and served as its Senior Executive Vice President Corporate Officer. Mr. Kawabe served as Managing Corporate Officer at Z Holdings Corporation (formerly known as Yahoo Japan Corporation). Mr. Kawabe served as the Head of Media Services Company and Executive Vice President at Z Holdings Corporation (formerly known as Yahoo Japan Corporation) since July 2012. Mr. Kawabe serves as resident of Commerce Group at Z Holdings Corporation (formerly known as Yahoo Japan Corporation). He served as Operating Officer at Yahoo Japan Corporation and Head of Media Business Group. He served as a Director at Z Holdings Corporation (formerly known as Yahoo Japan Corporation).

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

Average tenure of the Z Holdings management team in years:

6
Average Tenure
  • The average tenure for the Z Holdings management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Kentaro Kawabe

TITLE
President
COMPENSATION
¥129M
TENURE
2 yrs

Ryosuke Sakaue

TITLE
Managing Corporate Officer

Takao Ozawa

TITLE
Senior Managing Corporate Officer
AGE
47
TENURE
1.3 yrs

Chiaki Fujimon

TITLE
Managing Corporate Officer

Tomoaki Tanida

TITLE
Executive Officer

Toshiaki Chiku

TITLE
Regional Managing Director of North America
TENURE
7.8 yrs

Gen Miyazawa

TITLE
Managing Executive Officer & Executive VP
TENURE
6 yrs

Yuji Umemura

TITLE
Chief Information Security Officer
AGE
52
TENURE
6 yrs

Hideyuki Nakahara

TITLE
Managing Corporate Officer & Executive VP
TENURE
6 yrs

Kosuke Homma

TITLE
Managing Corporate Officer & Executive VP
TENURE
6 yrs
Board of Directors Tenure

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

2.9
Average Tenure
61
Average Age
  • The average tenure for the Z Holdings board of directors is less than 3 years, this suggests a new board.
Board of Directors

Takao Ozawa

TITLE
Senior Managing Corporate Officer
AGE
47
TENURE
0.8 yrs

Taku Oketani

TITLE
Director
AGE
49
TENURE
0.8 yrs

Osamu Aranami

TITLE
President of Gyao Corp and Director of Gyao Corporation
TENURE
4 yrs

Masa Son

TITLE
Director
AGE
62
TENURE
24.3 yrs

Kentaro Kawabe

TITLE
President
COMPENSATION
¥129M
TENURE
1.8 yrs

Shingo Yoshii

TITLE
Outside Director
TENURE
4.8 yrs

Ken Miyauchi

TITLE
Director
AGE
70
TENURE
7.8 yrs

Hiromi Onitsuka-Baur

TITLE
Outside Director
AGE
67
TENURE
4.8 yrs

Kazuhiko Fujihara

TITLE
Director
AGE
60
TENURE
0.8 yrs

Yoshio Usumi

TITLE
Outside Director
AGE
61
TENURE
0.8 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 Z 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. Z 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

Z Holdings Corporation, together with its subsidiaries, engages in media and commerce businesses in Japan. The company’s Media Business segment offers Internet-based advertising-related services, such as paid search, display advertising, and other advertising related services; information listing services; and other corporate services. The Commerce Business segment provides e-commerce related, membership, and settlement and finance related services. The company also offers cloud-related services. The company was founded in 1996 and is headquartered in Tokyo, Japan. Z Holdings Corporation is a subsidiary of SoftBank Group Corp.

Details
Name: Z Holdings Corporation
4689
Exchange: TSE
Founded: 1996
¥1,481,122,654,415
4,762,452,265
Website: http://www.z-holdings.co.jp
Address: Z Holdings Corporation
Tokyo Garden Terrace Kioicho Kioi Tower,
1-3-3 Kioicho,
Tokyo,
102-8282,
Japan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSE 4689 Common Stock The Tokyo Stock Exchange JP JPY 04. Nov 1997
OTCPK YAHO.F Common Stock Pink Sheets LLC US USD 04. Nov 1997
DB YOJ Common Stock Deutsche Boerse AG DE EUR 04. Nov 1997
OTCPK YAHO.Y UNSP ADS EA REPR 2 ORD SHS Pink Sheets LLC US USD 13. Oct 2008
Number of employees
Current staff
Staff numbers
14,293
Z Holdings employees.
Industry
Interactive Media and Services
Media
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/04 15:34
End of day share price update: 2020/04/03 00:00
Last estimates confirmation: 2020/03/25
Last earnings filing: 2020/02/13
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.