Delayed
Japan Exchange
09:16:19 2024-06-02 pm EDT
|
5-day change
|
1st Jan Change
|
4,517
JPY
|
+1.46%
|
|
+1.46%
|
+23.92%
|
Fiscal Period: December |
2019
|
2020
|
2021
|
2022
|
2023
|
2024
|
2025
|
2026
|
---|
Capitalization
1 |
4,314,758
|
3,729,458
|
4,121,325
|
4,722,880
|
6,470,988
|
7,903,821
|
-
|
-
|
Enterprise Value (EV)
1 |
4,932,101
|
4,208,419
|
4,318,216
|
4,814,306
|
6,573,041
|
7,786,412
|
7,720,282
|
7,459,191
|
P/E ratio
|
12.4
x
|
12
x
|
12.2
x
|
10.7
x
|
13.4
x
|
16
x
|
15
x
|
13.9
x
|
Yield
|
6.33%
|
7.33%
|
6.03%
|
7.07%
|
5.32%
|
4.53%
|
4.84%
|
5.17%
|
Capitalization / Revenue
|
1.98
x
|
1.78
x
|
1.77
x
|
1.78
x
|
2.28
x
|
2.64
x
|
2.55
x
|
2.46
x
|
EV / Revenue
|
2.27
x
|
2.01
x
|
1.86
x
|
1.81
x
|
2.31
x
|
2.6
x
|
2.49
x
|
2.33
x
|
EV / EBITDA
|
7.19
x
|
6.49
x
|
6.29
x
|
5.64
x
|
7.71
x
|
8.92
x
|
8.54
x
|
7.88
x
|
EV / FCF
|
12.1
x
|
10.2
x
|
8.61
x
|
12.6
x
|
14.9
x
|
14.8
x
|
16.2
x
|
14
x
|
FCF Yield
|
8.29%
|
9.77%
|
11.6%
|
7.93%
|
6.72%
|
6.77%
|
6.17%
|
7.12%
|
Price to Book
|
1.62
x
|
1.48
x
|
1.47
x
|
1.33
x
|
1.69
x
|
1.97
x
|
1.93
x
|
1.86
x
|
Nbr of stocks (in thousands)
|
1,773,796
|
1,774,243
|
1,774,521
|
1,774,851
|
1,775,305
|
1,775,342
|
-
|
-
|
Reference price
2 |
2,432
|
2,102
|
2,322
|
2,661
|
3,645
|
4,452
|
4,452
|
4,452
|
Announcement Date
|
2/6/20
|
2/9/21
|
2/14/22
|
2/14/23
|
2/13/24
|
-
|
-
|
-
|
Fiscal Period: December |
2019
|
2020
|
2021
|
2022
|
2023
|
2024
|
2025
|
2026
|
---|
Net sales
1 |
2,175,626
|
2,092,561
|
2,324,838
|
2,657,832
|
2,841,077
|
2,999,056
|
3,097,767
|
3,206,690
|
EBITDA
1 |
686,207
|
648,708
|
686,078
|
853,226
|
852,062
|
872,913
|
904,164
|
946,310
|
EBIT
1 |
502,355
|
469,054
|
499,021
|
653,575
|
672,410
|
696,405
|
729,357
|
775,217
|
Operating Margin
|
23.09%
|
22.42%
|
21.46%
|
24.59%
|
23.67%
|
23.22%
|
23.54%
|
24.17%
|
Earnings before Tax (EBT)
1 |
465,232
|
420,063
|
472,390
|
593,450
|
621,601
|
663,493
|
706,716
|
765,334
|
Net income
1 |
348,190
|
310,253
|
338,490
|
442,716
|
482,288
|
494,028
|
525,851
|
565,459
|
Net margin
|
16%
|
14.83%
|
14.56%
|
16.66%
|
16.98%
|
16.47%
|
16.98%
|
17.63%
|
EPS
2 |
196.0
|
174.9
|
190.8
|
249.4
|
271.7
|
278.5
|
297.4
|
320.6
|
Free Cash Flow
1 |
408,976
|
411,213
|
501,410
|
381,977
|
441,653
|
526,838
|
476,420
|
531,138
|
FCF margin
|
18.8%
|
19.65%
|
21.57%
|
14.37%
|
15.55%
|
17.57%
|
15.38%
|
16.56%
|
FCF Conversion (EBITDA)
|
59.6%
|
63.39%
|
73.08%
|
44.77%
|
51.83%
|
60.35%
|
52.69%
|
56.13%
|
FCF Conversion (Net income)
|
117.46%
|
132.54%
|
148.13%
|
86.28%
|
91.57%
|
106.64%
|
90.6%
|
93.93%
|
Dividend per Share
2 |
154.0
|
154.0
|
140.0
|
188.0
|
194.0
|
201.7
|
215.6
|
230.0
|
Announcement Date
|
2/6/20
|
2/9/21
|
2/14/22
|
2/14/23
|
2/13/24
|
-
|
-
|
-
|
Fiscal Period: December |
2019 S2
|
2020 S1
|
2021 S1
|
2021 Q4
|
2021 S2
|
2022 Q1
|
2022 Q2
|
2022 S1
|
2022 Q3
|
2022 Q4
|
2022 S2
|
2023 Q1
|
2023 Q2
|
2023 S1
|
2023 Q3
|
2023 Q4
|
2023 S2
|
2024 Q1
|
2024 Q2
|
2024 S1
|
2024 Q3
|
2024 Q4
|
2024 S2
|
2025 Q1
|
2025 Q2
|
2025 S1
|
2025 S2
|
2026 S1
|
---|
Net sales
1 |
1,117,077
|
1,030,218
|
1,144,500
|
558,763
|
1,180,338
|
581,505
|
685,323
|
1,266,828
|
741,670
|
649,284
|
1,391,004
|
665,278
|
727,534
|
1,392,812
|
764,206
|
684,059
|
1,448,265
|
740,333
|
787,441
|
1,505,000
|
822,686
|
725,965
|
1,565,800
|
804,172
|
804,172
|
-
|
-
|
-
|
EBITDA
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
EBIT
1 |
191,029
|
251,989
|
322,100
|
18,325
|
-
|
178,368
|
204,604
|
382,972
|
196,330
|
91,372
|
270,603
|
206,404
|
207,151
|
413,555
|
218,292
|
40,563
|
258,855
|
215,818
|
206,294
|
400,900
|
218,458
|
65,217
|
264,000
|
200,617
|
200,617
|
-
|
-
|
-
|
Operating Margin
|
17.1%
|
24.46%
|
28.14%
|
3.28%
|
-
|
30.67%
|
29.86%
|
30.23%
|
26.47%
|
14.07%
|
19.45%
|
31.03%
|
28.47%
|
29.69%
|
28.56%
|
5.93%
|
17.87%
|
29.15%
|
26.2%
|
26.64%
|
26.55%
|
8.98%
|
16.86%
|
24.95%
|
24.95%
|
-
|
-
|
-
|
Earnings before Tax (EBT)
1 |
174,614
|
225,961
|
314,095
|
8,569
|
-
|
174,699
|
186,286
|
360,985
|
174,611
|
57,854
|
-
|
183,146
|
190,284
|
373,430
|
212,779
|
35,392
|
248,171
|
201,266
|
212,981
|
-
|
230,073
|
70,359
|
-
|
-
|
-
|
-
|
-
|
-
|
Net income
1 |
121,739
|
172,495
|
225,200
|
-323
|
-
|
124,110
|
139,953
|
264,063
|
139,740
|
38,916
|
-
|
144,684
|
142,325
|
287,009
|
155,001
|
40,278
|
195,279
|
157,266
|
151,446
|
-
|
164,606
|
41,627
|
-
|
-
|
-
|
-
|
-
|
-
|
Net margin
|
10.9%
|
16.74%
|
19.68%
|
-0.06%
|
-
|
21.34%
|
20.42%
|
20.84%
|
18.84%
|
5.99%
|
-
|
21.75%
|
19.56%
|
20.61%
|
20.28%
|
5.89%
|
13.48%
|
21.24%
|
19.23%
|
-
|
20.01%
|
5.73%
|
-
|
-
|
-
|
-
|
-
|
-
|
EPS
2 |
68.74
|
97.23
|
126.9
|
-0.1900
|
-
|
69.94
|
78.86
|
148.8
|
78.73
|
21.92
|
100.6
|
81.52
|
80.18
|
161.7
|
87.31
|
22.68
|
110.0
|
88.58
|
84.29
|
-
|
89.19
|
25.29
|
-
|
-
|
-
|
-
|
-
|
-
|
Dividend per Share
2 |
77.00
|
-
|
65.00
|
75.00
|
75.00
|
-
|
75.00
|
75.00
|
-
|
113.0
|
113.0
|
-
|
94.00
|
94.00
|
-
|
100.0
|
100.0
|
-
|
50.85
|
96.50
|
50.85
|
50.85
|
99.50
|
55.93
|
55.93
|
103.0
|
108.5
|
105.5
|
Announcement Date
|
2/6/20
|
7/31/20
|
7/30/21
|
2/14/22
|
2/14/22
|
4/28/22
|
7/29/22
|
7/29/22
|
10/31/22
|
2/14/23
|
2/14/23
|
5/2/23
|
7/31/23
|
7/31/23
|
10/31/23
|
2/13/24
|
2/13/24
|
5/9/24
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
Fiscal Period: December |
2019
|
2020
|
2021
|
2022
|
2023
|
2024
|
2025
|
2026
|
---|
Net Debt
1 |
617,343
|
478,961
|
196,891
|
91,426
|
102,053
|
-
|
-
|
-
|
Net Cash position
1 |
-
|
-
|
-
|
-
|
-
|
117,409
|
183,539
|
444,630
|
Leverage (Debt/EBITDA)
|
0.8996
x
|
0.7383
x
|
0.287
x
|
0.1072
x
|
0.1198
x
|
-
|
-
|
-
|
Free Cash Flow
1 |
408,976
|
411,213
|
501,410
|
381,977
|
441,653
|
526,838
|
476,421
|
531,138
|
ROE (net income / shareholders' equity)
|
13.2%
|
12%
|
12.7%
|
13.9%
|
13.1%
|
12.2%
|
12.5%
|
12.7%
|
ROA (Net income/ Total Assets)
|
8.45%
|
7.68%
|
8.47%
|
9.63%
|
8.99%
|
6.77%
|
6.88%
|
7.14%
|
Assets
1 |
4,121,738
|
4,038,023
|
3,996,755
|
4,596,237
|
5,365,283
|
7,300,901
|
7,643,187
|
7,919,592
|
Book Value Per Share
2 |
1,501
|
1,422
|
1,583
|
1,995
|
2,157
|
2,262
|
2,313
|
2,394
|
Cash Flow per Share
2 |
299.0
|
276.0
|
296.0
|
362.0
|
373.0
|
393.0
|
375.0
|
391.0
|
Capex
1 |
131,434
|
108,620
|
86,350
|
101,044
|
125,361
|
138,558
|
129,574
|
127,260
|
Capex / Sales
|
6.04%
|
5.19%
|
3.71%
|
3.8%
|
4.41%
|
4.62%
|
4.18%
|
3.97%
|
Announcement Date
|
2/6/20
|
2/9/21
|
2/14/22
|
2/14/23
|
2/13/24
|
-
|
-
|
-
|
Last Close Price
4,452
JPY Average target price
4,166
JPY Spread / Average Target -6.43% Consensus |
1st Jan change
|
Capi.
|
---|
| +22.14% | 50.27B | | +14.65% | 79.44B | | -7.71% | 63.79B | | -3.91% | 6.81B | | -17.88% | 5.26B | | -5.50% | 2.4B | | -8.00% | 2.21B | | -36.40% | 1.51B | | -8.45% | 1.3B | | -17.22% | 1.17B |
Cigars & Cigarette Manufacturing
|