Financials Okinawa Financial Group, Inc.

Equities

7350

JP3194750000

Banks

Delayed Japan Exchange Other stock markets 02:00:00 2024-05-22 am EDT			5-day change	1st Jan Change
2,641 ^JPY	+0.76%		+1.77%	+12.57%

2023	Okinawa Financial Group, Inc. Reports Earnings Results for the Half Year Ended September 30, 2023	CI
2023	Tranche Update on Okinawa Financial Group, Inc.'s Equity Buyback Plan announced on May 12, 2023.	CI

Valuation

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	82,484	75,081	72,585	48,575	47,669	55,934	-	-
Enterprise Value (EV) ¹	82,484	75,081	72,585	48,575	47,669	56,105	55,934	55,934
P/E ratio	11.5 x	13.6 x	13.9 x	9.71 x	8.29 x	9.05 x	7.97 x	6.98 x
Yield	2.03%	2.22%	2.3%	1.7%	3.84%	3.04%	3.43%	4.2%
Capitalization / Revenue	1.54 x	1.44 x	1.4 x	0.96 x	0.9 x	1.05 x	0.95 x	0.91 x
EV / Revenue	1.54 x	1.44 x	1.4 x	0.96 x	0.9 x	1.05 x	0.95 x	0.91 x
EV / EBITDA	-	-	-	-	-	-	-	-
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Price to Book	0.53 x	0.48 x	0.45 x	0.3 x	0.31 x	0.36 x	0.36 x	0.34 x
Nbr of stocks (in thousands)	23,943	23,798	23,798	23,649	22,896	21,341	-	-
Reference price ²	3,445	3,155	3,050	2,054	2,082	2,621	2,621	2,621
Announcement Date	5/14/19	5/13/20	5/14/21	5/11/22	5/12/23	5/10/24	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	53,507	52,198	51,788	50,480	52,687	53,573	59,100	61,200
EBITDA	-	-	-	-	-	-	-	-
EBIT	-	-	-	-	-	-	-	-
Operating Margin	-	-	-	-	-	-	-	-
Earnings before Tax (EBT)	10,498	8,054	7,929	7,976	8,525	8,822	-	-
Net income ¹	7,199	5,548	5,207	5,012	5,835	6,262	7,000	8,000
Net margin	13.45%	10.63%	10.05%	9.93%	11.07%	11.69%	11.84%	13.07%
EPS ²	300.4	232.8	218.8	211.5	251.0	290.5	328.7	375.7
Free Cash Flow	-	-	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	70.00	70.00	70.00	35.00	80.00	80.00	90.00	110.0
Announcement Date	5/14/19	5/13/20	5/14/21	5/11/22	5/12/23	5/10/24	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March	2020 S1	2021 S1	2022 S1	2023 Q1	2023 S1	2023 Q3	2024 Q1	2024 S1	2024 Q3	2024 S2
Net sales ¹	25,498	24,571	25,273	14,331	27,023	12,360	13,657	27,664	12,991	-
EBITDA	-	-	-	-	-	-	-	-	-	-
EBIT	-	-	-	-	-	-	-	-	-	-
Operating Margin	-	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT) ¹	3,485	3,518	2,836	3,706	6,060	1,941	2,304	4,498	2,331	-
Net income ¹	2,234	2,191	1,196	2,623	4,417	1,245	1,517	3,163	1,472	3,099
Net margin	8.76%	8.92%	4.73%	18.3%	16.35%	10.07%	11.11%	11.43%	11.33%	-
EPS ²	93.60	92.10	50.27	112.5	189.5	53.40	68.32	145.3	69.03	-
Dividend per Share	35.00	35.00	35.00	-	40.00	-	-	40.00	-	-
Announcement Date	11/8/19	11/6/20	11/12/21	8/9/22	11/11/22	2/10/23	8/10/23	11/10/23	2/9/24	5/10/24

¹JPY in Million²JPY

Estimates

Balance Sheet Analysis

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-	-	-
ROE (net income / shareholders' equity)	4.6%	3.5%	3.46%	3.1%	3.7%	4%	4.5%	5%
ROA (Net income/ Total Assets)	0.47%	0.36%	0.32%	-	0.3%	0.3%	0.2%	0.3%
Assets ¹	1,522,245	1,556,591	1,631,981	-	1,948,898	2,059,665	3,500,000	2,666,667
Book Value Per Share ²	6,522	6,562	6,748	6,829	6,705	7,350	7,340	7,598
Cash Flow per Share	-	-	-	-	-	-	-	-
Capex	-	-	-	-	-	-	-	-
Capex / Sales	-	-	-	-	-	-	-	-
Announcement Date	5/14/19	5/13/20	5/14/21	5/11/22	5/12/23	5/10/24	-	-

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 Okinawa Financial Group, Inc.

Trading Rating

Investor Rating

ESG Refinitiv

D-

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

2,621 JPY

Average target price

2,900 JPY

Spread / Average Target

+10.64%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

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