Market Closed -
Japan Exchange
02:00:00 2024-04-26 am EDT
|
5-day change
|
1st Jan Change
|
638.3
JPY
|
+0.52%
|
|
+0.82%
|
+17.55%
|
Fiscal Period: March |
2019
|
2020
|
2021
|
2022
|
2023
|
2024
|
2025
|
2026
|
---|
Capitalization
1 |
679,029
|
573,210
|
709,103
|
601,270
|
519,377
|
627,175
|
-
|
-
|
Enterprise Value (EV)
1 |
1,211,379
|
1,070,560
|
1,220,530
|
1,195,954
|
1,250,642
|
1,417,494
|
1,410,043
|
1,372,677
|
P/E ratio
|
13.1
x
|
9.85
x
|
14.3
x
|
6.87
x
|
9.19
x
|
11.1
x
|
8.79
x
|
7.92
x
|
Yield
|
1.75%
|
2.42%
|
1.96%
|
2.31%
|
3.05%
|
2.56%
|
3.11%
|
3.26%
|
Capitalization / Revenue
|
0.44
x
|
0.38
x
|
0.52
x
|
0.41
x
|
0.3
x
|
0.37
x
|
0.35
x
|
0.34
x
|
EV / Revenue
|
0.78
x
|
0.71
x
|
0.9
x
|
0.81
x
|
0.73
x
|
0.83
x
|
0.78
x
|
0.75
x
|
EV / EBITDA
|
6.74
x
|
6.32
x
|
8.21
x
|
6.4
x
|
7.87
x
|
9.08
x
|
7.47
x
|
6.79
x
|
EV / FCF
|
16.4
x
|
17.9
x
|
34.3
x
|
23.4
x
|
-11.9
x
|
51.6
x
|
44
x
|
24.1
x
|
FCF Yield
|
6.1%
|
5.58%
|
2.91%
|
4.27%
|
-8.4%
|
1.94%
|
2.27%
|
4.16%
|
Price to Book
|
1
x
|
0.83
x
|
0.94
x
|
0.71
x
|
0.55
x
|
0.64
x
|
0.61
x
|
0.57
x
|
Nbr of stocks (in thousands)
|
988,397
|
990,001
|
990,367
|
990,559
|
991,177
|
982,571
|
-
|
-
|
Reference price
2 |
687.0
|
579.0
|
716.0
|
607.0
|
524.0
|
638.3
|
638.3
|
638.3
|
Announcement Date
|
5/13/19
|
5/25/20
|
5/13/21
|
5/13/22
|
5/12/23
|
-
|
-
|
-
|
Fiscal Period: March |
2019
|
2020
|
2021
|
2022
|
2023
|
2024
|
2025
|
2026
|
---|
Net sales
1 |
1,550,991
|
1,507,607
|
1,358,985
|
1,470,161
|
1,706,641
|
1,717,339
|
1,803,700
|
1,827,660
|
EBITDA
1 |
179,739
|
169,504
|
148,650
|
186,808
|
158,910
|
156,093
|
188,820
|
202,062
|
EBIT
1 |
110,212
|
106,125
|
84,793
|
120,119
|
84,818
|
80,277
|
111,533
|
122,760
|
Operating Margin
|
7.11%
|
7.04%
|
6.24%
|
8.17%
|
4.97%
|
4.67%
|
6.18%
|
6.72%
|
Earnings before Tax (EBT)
1 |
90,797
|
98,138
|
80,883
|
129,262
|
84,617
|
85,860
|
107,200
|
119,060
|
Net income
1 |
51,977
|
58,181
|
49,635
|
87,509
|
56,483
|
55,715
|
71,508
|
79,320
|
Net margin
|
3.35%
|
3.86%
|
3.65%
|
5.95%
|
3.31%
|
3.24%
|
3.96%
|
4.34%
|
EPS
2 |
52.52
|
58.78
|
50.13
|
88.35
|
57.00
|
57.42
|
72.58
|
80.59
|
Free Cash Flow
1 |
73,935
|
59,690
|
35,548
|
51,020
|
-105,012
|
27,473
|
32,044
|
57,045
|
FCF margin
|
4.77%
|
3.96%
|
2.62%
|
3.47%
|
-6.15%
|
1.6%
|
1.78%
|
3.12%
|
FCF Conversion (EBITDA)
|
41.13%
|
35.21%
|
23.91%
|
27.31%
|
-
|
17.6%
|
16.97%
|
28.23%
|
FCF Conversion (Net income)
|
142.25%
|
102.59%
|
71.62%
|
58.3%
|
-
|
49.31%
|
44.81%
|
71.92%
|
Dividend per Share
2 |
12.00
|
14.00
|
14.00
|
14.00
|
16.00
|
16.33
|
19.83
|
20.80
|
Announcement Date
|
5/13/19
|
5/25/20
|
5/13/21
|
5/13/22
|
5/12/23
|
-
|
-
|
-
|
Fiscal Period: March |
2020 S1
|
2020 S2
|
2021 S1
|
2021 S2
|
2022 Q2
|
2022 S1
|
2022 Q3
|
2022 Q4
|
2022 S2
|
2023 Q1
|
2023 Q2
|
2023 S1
|
2023 Q3
|
2023 Q4
|
2024 Q1
|
2024 Q2
|
2024 S1
|
2024 Q3
|
2024 Q4
|
2025 Q1
|
2025 Q2
|
2025 Q3
|
2025 Q4
|
---|
Net sales
1 |
760,206
|
747,401
|
652,423
|
706,562
|
365,808
|
708,529
|
377,085
|
384,547
|
761,632
|
399,177
|
438,325
|
837,502
|
459,221
|
409,918
|
420,317
|
426,776
|
847,093
|
445,304
|
430,868
|
465,000
|
476,500
|
487,700
|
478,000
|
EBITDA
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
EBIT
1 |
55,580
|
50,545
|
29,306
|
55,487
|
35,627
|
63,681
|
31,602
|
24,836
|
56,438
|
15,578
|
24,817
|
40,395
|
19,112
|
25,311
|
21,775
|
17,046
|
38,821
|
17,542
|
25,109
|
23,800
|
26,700
|
32,700
|
32,200
|
Operating Margin
|
7.31%
|
6.76%
|
4.49%
|
7.85%
|
9.74%
|
8.99%
|
8.38%
|
6.46%
|
7.41%
|
3.9%
|
5.66%
|
4.82%
|
4.16%
|
6.17%
|
5.18%
|
3.99%
|
4.58%
|
3.94%
|
5.83%
|
5.12%
|
5.6%
|
6.7%
|
6.74%
|
Earnings before Tax (EBT)
|
47,634
|
-
|
22,228
|
-
|
-
|
67,824
|
33,741
|
-
|
-
|
33,018
|
-
|
57,482
|
6,718
|
-
|
27,877
|
-
|
49,994
|
16,794
|
-
|
-
|
-
|
-
|
-
|
Net income
1 |
28,839
|
29,342
|
10,289
|
39,346
|
24,972
|
45,582
|
21,063
|
20,864
|
41,927
|
23,285
|
-
|
37,927
|
1,177
|
-
|
17,599
|
14,042
|
31,641
|
10,689
|
16,070
|
-
|
-
|
-
|
-
|
Net margin
|
3.79%
|
3.93%
|
1.58%
|
5.57%
|
6.83%
|
6.43%
|
5.59%
|
5.43%
|
5.5%
|
5.83%
|
-
|
4.53%
|
0.26%
|
-
|
4.19%
|
3.29%
|
3.74%
|
2.4%
|
3.73%
|
-
|
-
|
-
|
-
|
EPS
|
29.14
|
29.64
|
10.39
|
39.74
|
25.21
|
46.02
|
21.27
|
21.06
|
42.33
|
23.51
|
-
|
38.28
|
1.180
|
-
|
17.76
|
-
|
31.92
|
10.78
|
-
|
-
|
-
|
-
|
-
|
Dividend per Share
|
7.000
|
-
|
7.000
|
-
|
-
|
7.000
|
-
|
-
|
-
|
-
|
-
|
8.000
|
-
|
-
|
-
|
-
|
8.000
|
-
|
-
|
-
|
-
|
-
|
-
|
Announcement Date
|
11/5/19
|
5/25/20
|
11/5/20
|
5/13/21
|
11/2/21
|
11/2/21
|
2/4/22
|
5/13/22
|
5/13/22
|
8/2/22
|
11/8/22
|
11/8/22
|
2/3/23
|
5/12/23
|
8/7/23
|
11/7/23
|
11/7/23
|
2/5/24
|
-
|
-
|
-
|
-
|
-
|
Fiscal Period: March |
2019
|
2020
|
2021
|
2022
|
2023
|
2024
|
2025
|
2026
|
---|
Net Debt
1 |
532,350
|
497,350
|
511,427
|
594,684
|
731,265
|
790,320
|
782,868
|
745,502
|
Net Cash position
1 |
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
Leverage (Debt/EBITDA)
|
2.962
x
|
2.934
x
|
3.44
x
|
3.183
x
|
4.602
x
|
5.063
x
|
4.146
x
|
3.689
x
|
Free Cash Flow
1 |
73,935
|
59,690
|
35,548
|
51,020
|
-105,012
|
27,473
|
32,044
|
57,045
|
ROE (net income / shareholders' equity)
|
7.7%
|
8.5%
|
6.88%
|
10.9%
|
6.3%
|
5.77%
|
6.96%
|
7.42%
|
ROA (Net income/ Total Assets)
|
6.04%
|
5.28%
|
4.3%
|
6.7%
|
4.37%
|
2.32%
|
2.83%
|
3.23%
|
Assets
1 |
860,508
|
1,101,896
|
1,155,323
|
1,306,867
|
1,292,988
|
2,401,168
|
2,530,971
|
2,456,488
|
Book Value Per Share
2 |
685.0
|
699.0
|
758.0
|
859.0
|
945.0
|
999.0
|
1,052
|
1,112
|
Cash Flow per Share
|
123.0
|
123.0
|
114.0
|
155.0
|
131.0
|
-
|
-
|
-
|
Capex
1 |
59,197
|
92,454
|
98,422
|
98,659
|
100,092
|
99,640
|
99,660
|
97,560
|
Capex / Sales
|
3.82%
|
6.13%
|
7.24%
|
6.71%
|
5.86%
|
5.8%
|
5.53%
|
5.34%
|
Announcement Date
|
5/13/19
|
5/25/20
|
5/13/21
|
5/13/22
|
5/12/23
|
-
|
-
|
-
|
Last Close Price
638.3
JPY Average target price
695.8
JPY Spread / Average Target +9.01% Consensus |
1st Jan change
|
Capi.
|
---|
| +17.55% | 3.98B | | -3.17% | 18.78B | | +7.10% | 14.99B | | +5.03% | 10.18B | | -1.67% | 6.08B | | +8.82% | 4.88B | | +16.91% | 3.15B | | +63.21% | 2.67B | | +12.02% | 1.76B | | +15.48% | 1.52B |
Other Paper Products
|