Stock 9435 HIKARI TSUSHIN, INC.
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Financials Hikari Tsushin, Inc.

Equities

9435

JP3783420007

Communications & Networking

Market Closed - Japan Exchange
Other stock markets
 02:00:00 2024-04-26 am EDT 		5-day change 1st Jan Change
24,915 JPY +1.51% Intraday chart for Hikari Tsushin, Inc. +2.55% +6.57%
Apr. 25 Elecom Co., Ltd. entered into non-binding Memorandum of Understanding to acquire Nippon Antenna Co.,Ltd. from Resona Bank, Limited, Hikari Tsushin, Inc., Custody Bank of Japan, Ltd. (Trust Account), UH Partners 3 Co., Ltd. and UH Partners 2 Co.,Ltd. CI
Feb. 01 Tranche Update on Hikari Tsushin, Inc.'s Equity Buyback Plan announced on November 13, 2023. CI

Valuation

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 965,282 831,883 1,021,821 630,776 832,168 1,099,692 - -
Enterprise Value (EV) 1 1,099,063 959,354 1,211,422 905,147 1,164,574 1,408,867 1,357,954 1,312,330
P/E ratio 19.5 x 16.1 x 18.7 x 7.26 x 9.11 x 12.3 x 13.3 x 12.7 x
Yield 1.67% 2.22% 2.05% 3.51% 2.93% 2.34% 2.43% 2.53%
Capitalization / Revenue 1.99 x 1.59 x 1.83 x 1.09 x 1.29 x 1.75 x 1.69 x 1.64 x
EV / Revenue 2.27 x 1.83 x 2.17 x 1.57 x 1.81 x 2.25 x 2.09 x 1.96 x
EV / EBITDA 14.8 x 10.8 x 14.1 x 9.07 x 11.3 x 12.6 x 11.5 x 10.6 x
EV / FCF -42.7 x 38.1 x -31.4 x -20.1 x -47.4 x 59.6 x 31.5 x 31.6 x
FCF Yield -2.34% 2.62% -3.18% -4.97% -2.11% 1.68% 3.17% 3.16%
Price to Book 3.74 x 2.91 x 2.6 x 1.35 x 1.45 x 1.7 x 1.57 x 1.45 x
Nbr of stocks (in thousands) 46,032 45,884 45,883 45,152 44,812 44,138 - -
Reference price 2 20,970 18,130 22,270 13,970 18,570 24,915 24,915 24,915
Announcement Date 5/17/19 5/20/20 5/14/21 5/16/22 5/16/23 - - -
1JPY in Million2JPY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 484,386 524,570 559,429 578,269 643,984 626,720 650,682 670,437
EBITDA 1 74,350 89,088 85,720 99,763 102,868 111,795 117,825 123,902
EBIT 1 64,277 73,004 69,257 83,036 86,615 95,462 101,491 107,569
Operating Margin 13.27% 13.92% 12.38% 14.36% 13.45% 15.23% 15.6% 16.04%
Earnings before Tax (EBT) 1 71,579 80,056 82,170 107,978 118,479 134,422 123,485 129,429
Net income 1 49,547 51,670 54,614 87,360 91,345 90,533 83,177 87,025
Net margin 10.23% 9.85% 9.76% 15.11% 14.18% 14.45% 12.78% 12.98%
EPS 2 1,076 1,126 1,190 1,923 2,038 2,034 1,876 1,962
Free Cash Flow 1 -25,739 25,164 -38,524 -44,962 -24,545 23,627 43,072 41,490
FCF margin -5.31% 4.8% -6.89% -7.78% -3.81% 3.77% 6.62% 6.19%
FCF Conversion (EBITDA) - 28.25% - - - 21.13% 36.56% 33.49%
FCF Conversion (Net income) - 48.7% - - - 26.1% 51.78% 47.68%
Dividend per Share 2 351.0 402.0 456.0 491.0 545.0 582.0 605.1 630.8
Announcement Date 5/17/19 5/20/20 5/14/21 5/16/22 5/16/23 - - -
1JPY in Million2JPY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March 2020 S1 2021 S1 2022 Q2 2022 S1 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 S1 2023 Q3 2023 Q4 2023 S2 2024 Q1 2024 Q2 2024 S1 2024 Q3 2024 Q4 2025 Q1 2025 Q2 2025 Q3 2025 Q4
Net sales 1 259,768 265,935 138,970 273,911 143,478 160,880 143,469 166,533 310,002 160,512 173,470 - 140,140 156,339 296,479 150,209 173,525 141,400 160,400 156,400 171,300
EBITDA - - - - - - - - - - - - - - - - - - - - -
EBIT 1 44,874 47,588 24,704 48,881 19,185 14,970 18,264 27,881 46,145 20,092 20,378 - 23,966 24,525 48,491 26,015 23,523 24,300 25,200 25,300 25,900
Operating Margin 17.27% 17.89% 17.78% 17.85% 13.37% 9.31% 12.73% 16.74% 14.89% 12.52% 11.75% - 17.1% 15.69% 16.36% 17.32% 13.56% 17.19% 15.71% 16.18% 15.12%
Earnings before Tax (EBT) 1 46,878 50,102 30,616 60,674 24,647 22,657 40,585 41,693 82,278 12,152 24,049 - 47,583 39,636 87,219 20,721 39,253 32,300 30,200 30,300 34,300
Net income 1 31,037 29,928 19,614 40,147 18,448 28,765 27,603 32,208 59,811 6,743 24,791 - 32,739 29,022 61,761 12,077 28,152 21,800 20,300 20,400 23,100
Net margin 11.95% 11.25% 14.11% 14.66% 12.86% 17.88% 19.24% 19.34% 19.29% 4.2% 14.29% - 23.36% 18.56% 20.83% 8.04% 16.22% 15.42% 12.66% 13.04% 13.49%
EPS 2 676.4 652.3 431.8 880.8 406.7 635.7 615.0 718.6 1,334 150.8 553.3 - 733.1 653.4 1,386 274.2 965.0 - - - -
Dividend per Share 2 195.0 222.0 121.0 240.0 124.0 127.0 131.0 135.0 266.0 138.0 141.0 279.0 143.0 145.0 288.0 - 141.0 141.0 142.0 143.0 197.2
Announcement Date 11/13/19 11/12/20 11/12/21 11/12/21 2/14/22 5/16/22 8/12/22 11/14/22 11/14/22 2/14/23 5/16/23 5/16/23 8/14/23 11/13/23 11/13/23 2/13/24 - - - - -
1JPY in Million2JPY
Estimates

Balance Sheet Analysis

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 133,781 127,471 189,601 274,371 332,406 309,175 258,262 212,639
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 1.799 x 1.431 x 2.212 x 2.75 x 3.231 x 2.766 x 2.192 x 1.716 x
Free Cash Flow 1 -25,739 25,164 -38,524 -44,962 -24,545 23,627 43,073 41,490
ROE (net income / shareholders' equity) 20.5% 19% 16.1% 20.3% 17.6% 14.5% 12.3% 11.9%
ROA (Net income/ Total Assets) 6.65% 9.01% 7.37% 7.98% 7.54% 5.4% 4.6% 4.5%
Assets 1 744,944 573,227 740,722 1,095,175 1,211,366 1,676,531 1,808,192 1,933,890
Book Value Per Share 2 5,607 6,228 8,575 10,352 12,773 14,630 15,881 17,170
Cash Flow per Share 1,294 1,477 1,549 2,291 2,400 - - -
Capex 1 16,634 18,513 15,319 17,990 18,325 16,500 16,500 16,500
Capex / Sales 3.43% 3.53% 2.74% 3.11% 2.85% 2.63% 2.54% 2.46%
Announcement Date 5/17/19 5/20/20 5/14/21 5/16/22 5/16/23 - - -
1JPY in Million2JPY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Hikari Tsushin, Inc.

Trading Rating
Investor Rating
ESG Refinitiv
C-
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
3
Last Close Price
24,915 JPY
Average target price
27,113 JPY
Spread / Average Target
+8.82%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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