Financials HIRANO TECSEED Co.,Ltd.

Equities

6245

JP3795800006

Industrial Machinery & Equipment

Delayed Japan Exchange Other stock markets 07:18:34 17/05/2024 am IST			5-day change	1st Jan Change
1,882 ^JPY	-0.05%		-6.13%	+4.61%

2023	HIRANO TECSEED Co.,Ltd. Announces Second Quarter-End Dividend for the Six Months Ended September 30, 2023, Payable on December 4, 2023; Provides Year-End Dividend Guidance for the Fiscal Year Ending March 31, 2024	CI
2023	HIRANO TECSEED Co.,Ltd. Provides Consolidated Earnings Guidance for the Fiscal Year Ending March 31, 2024	CI

Valuation

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	26,025	16,269	43,727	31,316	31,077	28,399	-	-
Enterprise Value (EV) ¹	6,767	2,326	28,993	16,041	28,139	31,386	28,399	28,399
P/E ratio	7.6 x	6.92 x	24.5 x	10.1 x	13.9 x	12.9 x	10.4 x	8.99 x
Yield	2.6%	4.26%	1.27%	2.69%	2.72%	4.23%	4.67%	4.67%
Capitalization / Revenue	0.8 x	0.51 x	1.69 x	0.83 x	0.73 x	0.67 x	0.65 x	0.59 x
EV / Revenue	0.8 x	0.51 x	1.69 x	0.83 x	0.73 x	0.67 x	0.65 x	0.59 x
EV / EBITDA	-	-	14 x	6.85 x	8.28 x	7.28 x	5.92 x	5.16 x
EV / FCF	2.63 x	-2.73 x	32.1 x	26.5 x	-3.06 x	-18.4 x	6.66 x	22.5 x
FCF Yield	38.1%	-36.6%	3.12%	3.77%	-32.7%	-5.43%	15%	4.44%
Price to Book	0.94 x	0.55 x	1.41 x	0.91 x	0.86 x	0.82 x	0.74 x	0.71 x
Nbr of stocks (in thousands)	15,044	15,050	15,058	15,063	15,071	15,082	-	-
Reference price ²	1,730	1,081	2,904	2,079	2,062	1,883	1,883	1,883
Announcement Date	10/05/19	19/05/20	14/05/21	16/05/22	12/05/23	10/05/24	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	32,659	31,682	25,800	37,866	42,423	46,946	44,000	48,000
EBITDA ¹	-	-	3,124	4,570	3,752	3,900	4,800	5,500
EBIT ¹	4,839	3,684	2,560	3,986	3,093	3,236	3,850	4,450
Operating Margin	14.82%	11.63%	9.92%	10.53%	7.29%	6.89%	8.75%	9.27%
Earnings before Tax (EBT) ¹	4,896	3,765	2,586	4,205	3,219	3,521	3,950	4,550
Net income ¹	3,425	2,351	1,785	3,103	2,243	2,438	2,735	3,160
Net margin	10.49%	7.42%	6.92%	8.19%	5.29%	5.19%	6.22%	6.58%
EPS ²	227.7	156.3	118.6	206.1	148.9	161.7	181.4	209.5
Free Cash Flow ¹	9,904	-5,951	1,363	1,181	-10,159	-1,542	4,266	1,260
FCF margin	30.33%	-18.78%	5.28%	3.12%	-23.95%	-3.48%	9.7%	2.62%
FCF Conversion (EBITDA)	-	-	43.63%	25.84%	-	-	88.88%	22.91%
FCF Conversion (Net income)	289.17%	-	76.36%	38.05%	-	-	155.98%	39.87%
Dividend per Share ²	45.00	46.00	37.00	56.00	56.00	88.00	88.00	88.00
Announcement Date	10/05/19	19/05/20	14/05/21	16/05/22	12/05/23	10/05/24	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Quarterly data)

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	2023 S2	2024 Q1	2024 Q2	2024 S1	2024 Q3	2024 Q4	2024 S2	2025 Q1	2025 Q2	2025 S1	2025 Q3	2025 Q4
Net sales ¹	15,852	15,830	8,952	16,848	9,758	18,605	8,961	10,300	19,261	9,226	9,044	18,270	11,958	12,195	24,153	12,584	9,762	22,346	12,363	12,237	24,600	10,500	12,500	23,000	9,500	13,500
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	2,796	888	660	1,900	1,501	2,720	470	796	1,266	674	822	1,496	820	777	1,597	629	140	769	1,869	598	2,467	800	900	2,800	1,100	1,200
Operating Margin	17.64%	5.61%	7.37%	11.28%	15.38%	14.62%	5.24%	7.73%	6.57%	7.31%	9.09%	8.19%	6.86%	6.37%	6.61%	5%	1.43%	3.44%	15.12%	4.89%	10.03%	7.62%	7.2%	12.17%	11.58%	8.89%
Earnings before Tax (EBT) ¹	2,779	986	716	1,870	-	2,873	495	-	-	733	823	1,556	864	799	1,663	675	139	814	1,926	781	2,707	-	-	-	-	-
Net income ¹	1,918	433	471	1,314	1,096	1,988	537	578	1,115	505	573	1,078	597	568	1,165	467	97	564	1,360	514	1,874	-	-	-	-	-
Net margin	12.1%	2.74%	5.26%	7.8%	11.23%	10.69%	5.99%	5.61%	5.79%	5.47%	6.34%	5.9%	4.99%	4.66%	4.82%	3.71%	0.99%	2.52%	11%	4.2%	7.62%	-	-	-	-	-
EPS	127.5	-	31.32	-	-	132.0	35.63	-	-	33.58	-	71.59	39.58	-	-	31.05	-	37.42	90.22	-	-	-	-	-	-	-
Dividend per Share	18.00	-	15.00	-	-	28.00	-	-	-	-	-	28.00	-	-	-	-	-	28.00	-	-	-	-	-	-	-	-
Announcement Date	08/11/19	19/05/20	06/11/20	14/05/21	12/11/21	12/11/21	10/02/22	16/05/22	16/05/22	12/08/22	11/11/22	11/11/22	13/02/23	12/05/23	12/05/23	10/08/23	10/11/23	10/11/23	14/02/24	10/05/24	10/05/24	-	-	-	-	-

¹JPY in Million

Estimates

Balance Sheet Analysis

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	-	-	-	-	-	-	-	-
Net Cash position	19,258	13,943	14,734	15,275	2,938	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	9,904	-5,951	1,363	1,181	-10,159	-1,542	4,266	1,260
ROE (net income / shareholders' equity)	13%	8.3%	5.9%	9.3%	6.4%	6.5%	-	-
ROA (Net income/ Total Assets)	12%	8.78%	6.27%	8.85%	5.8%	5.5%	-	-
Assets ¹	28,439	26,776	28,478	35,065	38,666	44,339	-	-
Book Value Per Share ²	1,840	1,949	2,062	2,288	2,388	2,552	2,538	2,657
Cash Flow per Share	250.0	187.0	158.0	245.0	193.0	214.0	-	-
Capex ¹	957	2,861	608	882	1,407	818	765	765
Capex / Sales	2.93%	9.03%	2.36%	2.33%	3.32%	1.74%	1.74%	1.59%
Announcement Date	10/05/19	19/05/20	14/05/21	16/05/22	12/05/23	10/05/24	-	-

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 HIRANO TECSEED Co.,Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

1,883 JPY

Average target price

2,470 JPY

Spread / Average Target

+31.17%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Industrial Machinery

	1st Jan change	Capi.
HIRANO TECSEED CO.,LTD.	+4.61%	183M
NORDSON CORPORATION	+2.42%	15.7B
HAITIAN INTERNATIONAL HOLDINGS LIMITED	+33.80%	5.37B
VALMET OYJ	-1.00%	5.11B
SUZHOU MAXWELL TECHNOLOGIES CO., LTD.	-3.95%	4.81B
WUXI LEAD INTELLIGENT EQUIPMENT CO.,LTD.	-19.10%	4.51B
KRONES AG	+12.70%	4.38B
TOMRA SYSTEMS ASA	+16.57%	4.02B
IHI CORPORATION	+44.04%	3.98B
KADANT INC.	-0.42%	3.3B

Industrial Machinery