SOJITZ CORPORATION |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 4,325 JPY | +1.08% |
|
+9.91% | +35.79% |
| 01/05 | Sojitz’s Attributable Profit Down 9% in Fiscal 2024 | MT |
| 01/05 | Transcript : Sojitz Corporation, 2024 Earnings Call, May 01, 2024 |
Valuation
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 4,87,204 | 3,09,701 | 3,74,118 | 4,65,637 | 6,37,775 | 9,39,522 | - | - |
| Enterprise Value (EV) 1 | 10,71,915 | 9,30,308 | 10,68,167 | 13,11,191 | 13,47,844 | 8,79,549 | 18,19,332 | 16,29,245 |
| P/E ratio | 6.92 x | 5.19 x | 13.9 x | 5.72 x | 5.73 x | 8.84 x | 8.98 x | 8.16 x |
| Yield | 4.36% | 6.69% | 3.21% | 5.26% | 4.71% | 3.14% | 3.47% | 3.89% |
| Capitalization / Revenue | 0.26 x | 0.18 x | 0.23 x | 0.22 x | 0.26 x | 0.36 x | 0.38 x | 0.37 x |
| EV / Revenue | 0.58 x | 0.53 x | 0.67 x | 0.62 x | 0.54 x | 0.36 x | 0.73 x | 0.64 x |
| EV / EBITDA | 12.1 x | 11.6 x | 18.1 x | 10.5 x | 8.71 x | 6.95 x | 9 x | 8.93 x |
| EV / FCF | 17.7 x | 192 x | 26.6 x | -17.8 x | 6.71 x | 24.5 x | 103 x | 34.7 x |
| FCF Yield | 5.65% | 0.52% | 3.77% | -5.62% | 14.9% | 4.09% | 0.97% | 2.88% |
| Price to Book | 0.79 x | 0.53 x | 0.6 x | 0.64 x | 0.76 x | 0.94 x | 0.96 x | 0.88 x |
| Nbr of stocks (in thousands) | 2,49,848 | 2,43,859 | 2,39,819 | 2,30,856 | 2,30,827 | 2,17,231 | - | - |
| Reference price 2 | 1,950 | 1,270 | 1,560 | 2,017 | 2,763 | 4,325 | 4,325 | 4,325 |
| Announcement Date | 08/05/19 | 30/04/20 | 30/04/21 | 02/05/22 | 02/05/23 | 01/05/24 | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: Maart | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 18,56,190 | 17,54,825 | 16,02,485 | 21,00,752 | 24,79,840 | 24,14,649 | 24,83,935 | 25,41,811 |
| EBITDA 1 | 88,820 | 80,357 | 58,890 | 1,25,284 | 1,54,703 | 1,26,525 | 2,02,082 | 1,82,389 |
| EBIT 1 | 67,523 | 47,251 | 27,040 | 91,005 | 1,14,796 | 84,491 | 1,23,931 | 1,24,934 |
| Operating Margin | 3.64% | 2.69% | 1.69% | 4.33% | 4.63% | 3.5% | 4.99% | 4.92% |
| Earnings before Tax (EBT) 1 | 94,882 | 75,528 | 37,420 | 1,17,295 | 1,55,036 | 1,25,498 | 1,38,050 | 1,52,017 |
| Net income 1 | 70,419 | 60,821 | 27,001 | 82,332 | 1,11,247 | 1,00,765 | 1,04,580 | 1,13,714 |
| Net margin | 3.79% | 3.47% | 1.68% | 3.92% | 4.49% | 4.17% | 4.21% | 4.47% |
| EPS 2 | 281.7 | 244.6 | 112.6 | 352.6 | 481.9 | 451.0 | 481.8 | 530.2 |
| Free Cash Flow 1 | 60,551 | 4,841 | 40,225 | -73,735 | 2,00,796 | 35,953 | 17,650 | 46,900 |
| FCF margin | 3.26% | 0.28% | 2.51% | -3.51% | 8.1% | 1.49% | 0.71% | 1.85% |
| FCF Conversion (EBITDA) | 68.17% | 6.02% | 68.31% | - | 129.79% | 28.42% | 8.73% | 25.71% |
| FCF Conversion (Net income) | 85.99% | 7.96% | 148.98% | - | 180.5% | 35.68% | 16.88% | 41.24% |
| Dividend per Share 2 | 85.00 | 85.00 | 50.00 | 106.0 | 130.0 | 135.7 | 150.0 | 168.3 |
| Announcement Date | 08/05/19 | 30/04/20 | 30/04/21 | 02/05/22 | 02/05/23 | 01/05/24 | - | - |
1JPY in Million2JPY
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: March | 2020 S1 | 2021 S1 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales | 8,93,832 | 7,44,622 | - | 10,00,694 | 5,47,885 | - | - | 6,18,511 | - | 12,73,322 | 6,52,001 | - | 5,56,010 | - | 11,87,268 | 6,00,847 | - |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBIT | 24,117 | 5,502 | - | 33,909 | 26,687 | - | - | 45,429 | - | 76,678 | 24,771 | - | 17,206 | - | 42,173 | 24,372 | - |
| Operating Margin | 2.7% | 0.74% | - | 3.39% | 4.87% | - | - | 7.34% | - | 6.02% | 3.8% | - | 3.09% | - | 3.55% | 4.06% | - |
| Earnings before Tax (EBT) 1 | 35,259 | 11,997 | - | 52,455 | 32,520 | 32,320 | - | 60,538 | - | 1,06,547 | 38,906 | 9,583 | 29,868 | - | 64,509 | 35,185 | 25,804 |
| Net income 1 | 29,517 | 9,147 | 22,525 | 39,449 | 22,600 | 20,283 | 42,883 | 45,200 | 33,726 | 78,876 | 29,855 | 2,516 | 22,100 | 25,794 | 47,934 | 27,270 | 25,550 |
| Net margin | 3.3% | 1.23% | - | 3.94% | 4.12% | - | - | 7.31% | - | 6.19% | 4.58% | - | 3.97% | - | 4.04% | 4.54% | - |
| EPS | 118.2 | 38.10 | - | 167.1 | 97.57 | - | - | 195.6 | - | 341.7 | 129.3 | - | 96.86 | - | 212.1 | 123.1 | - |
| Dividend per Share | 42.50 | 25.00 | - | 45.00 | - | - | - | - | - | 65.00 | - | - | - | - | 65.00 | - | - |
| Announcement Date | 01/11/19 | 30/10/20 | 02/11/21 | 02/11/21 | 02/02/22 | 02/05/22 | 02/05/22 | 02/08/22 | 01/11/22 | 01/11/22 | 02/02/23 | 02/05/23 | 01/08/23 | 31/10/23 | 31/10/23 | 02/02/24 | 01/05/24 |
1JPY in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 5,84,711 | 6,20,607 | 6,94,049 | 8,45,554 | 7,10,069 | 6,43,163 | 8,79,810 | 6,89,723 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 6.583 x | 7.723 x | 11.79 x | 6.749 x | 4.59 x | 4.725 x | 4.354 x | 3.782 x |
| Free Cash Flow 1 | 60,551 | 4,841 | 40,225 | -73,735 | 2,00,796 | 35,953 | 17,650 | 46,900 |
| ROE (net income / shareholders' equity) | 11.7% | 10.2% | 4.5% | 12.2% | 14.2% | 11.4% | 11.1% | 11.2% |
| ROA (Net income/ Total Assets) | 4.08% | 3.34% | 1.65% | 4.73% | 5.83% | 4.52% | 4.34% | 4.13% |
| Assets 1 | 17,24,595 | 18,22,882 | 16,34,493 | 17,41,396 | 19,09,603 | 22,27,190 | 24,09,494 | 27,51,374 |
| Book Value Per Share 2 | 2,475 | 2,375 | 2,582 | 3,154 | 3,629 | 4,239 | 4,509 | 4,891 |
| Cash Flow per Share 2 | 367.0 | 378.0 | 245.0 | 499.0 | 655.0 | 639.0 | 641.0 | 682.0 |
| Capex 1 | 35,925 | 51,792 | 44,747 | 43,163 | 46,407 | 76,234 | 1,00,000 | 1,00,000 |
| Capex / Sales | 1.94% | 2.95% | 2.79% | 2.05% | 1.87% | 3.16% | 4.03% | 3.93% |
| Announcement Date | 08/05/19 | 30/04/20 | 30/04/21 | 02/05/22 | 02/05/23 | 01/05/24 | - | - |
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
Trading Rating
Investor Rating
ESG Refinitiv
B+
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
7
Last Close Price
4,325
JPY
Average target price
4,256
JPY
Spread / Average Target
-1.60%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +35.79% | 6.14B | |
| +57.27% | 94.5B | |
| +44.98% | 75.22B | |
| +27.12% | 68.99B | |
| +5.06% | 40.92B | |
| +39.79% | 34.36B | |
| +30.15% | 31.76B | |
| +20.67% | 23.07B | |
| +12.74% | 17.59B | |
| -2.63% | 13.09B |
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