Thursday February 25, 2021 25 February 2021

NEWS BITES - JAPAN

Daiwa Securities Group Inc. (TO:8601), the 2nd largest Securities & commodity futures company by market cap in Japan, has increased JPY8.60 (1.6%) from its previous trading session to close at JPY538.70. Compared with the Nikkei 225 Index which rose 496.6 points (1.7%) in the day, the relative price change was -0.05%. Today the stock traded at its seven-day high of JPY542.70.

The 200-day Moving Average Price (MAP) is JPY460.66, up from JPY460.27 on Wednesday. The price to MAP ratio is 1.17. In the last 3 months the share price has exceeded MAP on 60/60 days; a bullish signal.

There were 4,900,000 shares worth JPY2.6 billion ($24.9 million) traded today. The volume was 0.9 times the average daily trading volume of 5.6 million shares.

Daiwa Securities Stock Dashboard (traded in JPY)

CurrencyUSD 1 = JPY 105.92 SectorSecurities & Commodity Futures
Feb 25 closeJPY538.70Market CapJPY915.8 billion [$8.6 billion]
EPS Growth % (Q3 2021 vs Q2 2021)54.5EPS (FY2020)JPY39
Ave Daily Volume5,569,208 sharesDPS (TTM)JPY20
52-Week Range (In JPY)341.49 - 554.50Shares Outstanding1,700,000,000

DSEEY ADR Dashboard (traded in $)

Home ExchangeJapanRatio1 ADR equals 10 ordinary shares
CodeDSEEYTypeSponsored
ISINUS2340643012Feb 24 close$4.93
CUSIP234064301EPS Growth % (Q3 2021 vs Q2 2021)54.5
*No. Held by Institutions2,672,690Ave Daily Volume43,738 ADRs
Number of shares equivalent26,726,90052-Week Range (In USD)3.33 - 5.15
% of shares outstanding0.16%

*Total ADRs Held by Institutions 2,672,690; equivalent to 26,726,900 Daiwa Securities shares on issue. This represents 0.16% of total shares on issue.

Daiwa Securities Financials Summary: EPS down 2.1% to JPY39.11 in FY2020

+ Net profit was down 5.4% from $602.5 million in FY2019 to $569.7 million in FY2020.

+ Earnings Per Share (EPS) was down 2.1% from JPY39.95 in FY2019 to JPY39.11 in FY2020.

Year ended MarFY2020FY2019FY2018
Sales ($ B)44.26.7
Pretax ($)800.9M897.7M1.5B
Net ($)569.7M602.5M1B
EPS (JPY)39.1139.9566.88

INDEX

SECTION 1 RECENT NEWS

SECTION 2 CORPORATE PROFILE AND INDEPENDENT RATINGS

SECTION 3 TODAY'S BULLISH SIGNALS

SECTION 4 ONGOING BULLISH PARAMETERS

SECTION 5 TODAY'S BEARISH SIGNALS

SECTION 6 ONGOING BEARISH PARAMETERS

SECTION 7 FINANCIALS

SECTION 8 PEER GROUP ANALYSIS & RANKING

SECTION 9 NEWS ARCHIVES (AUG 2017 - NOV 2020)

SECTION 10 CURRENCY SYNOPSIS: JAPANESE YEN (JPY)

SECTION 11 HISTORICAL PERSPECTIVE

SECTION 12 MACROECONOMIC INDICATORS

SECTION 13 CREDIT RATING SUMMARY

GLOSSARY

DATA & ARCHIVE DOWNLOAD CENTER

8601: EXCEL TABLES ARE AVAILABLE TO EXPORT DATA:

+ PRICE VOLUME - 5-YEAR HISTORY

+ FINANCIALS - 10-YEAR HISTORY [INCLUDING FY 2020]:

+ PEER COMPARISON - STOCK IN SECURITIES & COMMODITY FUTURES SECTOR AND STOCK IN INDICES

8601: LINKS IN HTML TO FURTHER INFORMATION:

+ NEWS ARCHIVES - 8601 PAST 4 YEARS IN HTML:

+ PRICE VOLUME CHARTS IN HTML

+ USD vs JPY EXCHANGE RATE CHARTS IN HTML

SECTION 1 RECENT NEWS

1.1 Financial News

Quarterly Report (Q3/2021):

Quarterly Report Analysis Q3 2021: Daiwa Securities EPS surges 55%

Daiwa Securities (TO:8601), announced EPS of JPY17.0 (US16.45c) for the quarter-ended 31 December 2020 [Q3/2021], up 54.5% sequentially from JPY11.0 (US10.43c) in the previous quarter [Q2/2021].

Compared with the Previous Corresponding Period [PCP; Q3/2020], year-over-year [y.o.y.] EPS was up 70%, Revenue was down 11.2% and Net Profit was up 59.1%.

Read more in SECTION 7 FINANCIALS on Financials

1.2 Dividends

November 28 2020: Daiwa Securities announces dividend

Daiwa Securities today announced an interim dividend of JPY11.0 per share. The ex-dividend date is Tuesday, September 29, 2020 and the record date is Wednesday, September 30, 2020 and it is payable on Tuesday, December 01.

1.3 Press Releases

February 23: Daiwa Securities: Notice Regarding the Agreement to Establish the Joint Venture in Thailand

Daiwa Capital Markets Singapore Limited, wholly owned by Daiwa Securities Group Inc. ("Daiwa Securities Group"), has agreed to establish a joint venture in Thailand, DC Advisory (Thailand) Co., Ltd. ("DC Advisory (Thailand)"); together with 9 Basil Co., Ltd. ("9 Basil"), formerly Aura Capital Thai Co., Ltd., and strategic investors in Thailand, to commence M&A financial advisory services in Thailand on 22 February. The "DC Advisory" brand has been deployed globally in Daiwa Securities Group's M&A businesses. This transaction does not fall under the timely disclosure standards set by the Financial Instruments Exchange for Daiwa Securities Group Inc., which is our parent company.

Source: Tokyo Stock Exchange

February 23: Daiwa Securities: Notice Concerning Conversion of Daiwa Office Investment Corporation into Consolidated Subsidiary

Daiwa Securities Group Inc. ("DSGI") announces that, given the determination of Daiwa Office Investment Corporation ("DOI"), an affiliated company of DSGI, to acquire own investment units as announced in its press release dated today (the "Acquisition of Own Investment Units"), it has decided to make DOI its consolidated subsidiary through the results of the Acquisition of Own Investment Units or through a purchase of investment units by way of a market procurement by DSGI at the Tokyo Stock Exchange ("Acquisition of Investment Units") as described below.

Source: Tokyo Stock Exchange

February 23: Daiwa Securities: Notice Regarding the Agreement to Establish the Joint Venture in Thailand

Daiwa Capital Markets Singapore Limited, wholly owned by Daiwa Securities Group Inc. ("Daiwa Securities Group"), has agreed to establish a joint venture in Thailand, DC Advisory (Thailand) Co., Ltd. ("DC Advisory (Thailand)"); together with 9 Basil Co., Ltd. ("9 Basil"), formerly Aura Capital Thai Co., Ltd., and strategic investors in Thailand, to commence M&A financial advisory services in Thailand on 22 February. The "DC Advisory" brand has been deployed globally in Daiwa Securities Group's M&A businesses. This transaction does not fall under the timely disclosure standards set by the Financial Instruments Exchange for Daiwa Securities Group Inc., which is our parent company.

Source: Tokyo Stock Exchange

December 19 2020: Daiwa Securities (China) Co., Ltd. Completed Business Registration

On December 18, 2020 Daiwa Securities Group Inc. ("Daiwa Securities") has completed the company registration with the Market Supervision Administration of Xicheng District, Beijing for the registration of Daiwa Securities (China) Co., Ltd. ("Daiwa Securities (China)").

Source: Tokyo Stock Exchange

SECTION 2 CORPORATE PROFILE AND INDEPENDENT RATINGS

2.1 Activities

Daiwa Securities Group Inc. is a Japan-based company mainly engaged in the securities related business and other investment and financial business. The Company has four business segments. The Retail segment is engaged in the provision of financial products and services for individuals and unlisted corporates. The Wholesale segment is engaged in the global markets business, including the sale and trading of stocks, bonds and others, as well as the global investment banking business, including securities underwriting, merger and acquisition (M & A) advisory and others. The Asset Management segment is engaged in the establishment and management of investment trusts, and the provision of investment advisory and management services for pension assets. The Investment segment is engaged in the provision of investment recovery in existing projects, and the creation of new investment funds. The Company is also engaged in the management, banking, information and real estate leasing business.

2.2 Independent Ratings

+ Forbes 2000:

Daiwa Securities Group Inc. is the 1285th largest by revenue in the Forbes Global 2000.

+ Brand Finance 500:

It was ranked 132 in the Brand Finance list of the world's 500 Valuable Banking brands by brand value in 2015; a deterioration over a year from rank 131 in 2014. Brand Finance valued the brand at US$1,309 million.

2.3 Contact Details

Websitehttp://www.daiwa-grp.jp/
Physical AddressGran Tokyo North Tower, 1-9-1, Marunouchi, Chiyoda-ku, TOKYO-TO, 100-6751
Phone81355551111

SECTION 3 TODAY'S BULLISH SIGNALS

3.1 Rank in the top 24% by Price Performance in the Japan market

DescriptionValueRank
Price/MAP501.08In Top 24%
1-month Price Change %7.9In Top 24%

3.2 Uptrend

Price/Moving Average Price of 1.17 and positive MACD:

- The Price/MAP 200 of 1.17 for Daiwa Securities is higher than the Price/MAP 200 for the Nikkei 225 Index of 1.12.

- The price to 200-day MAP ratio is 1.17, a bullish indicator. In the past 200 days this ratio has exceeded 1.17, just thrice suggesting a resistance level.The stock is trading above both its MAPs and the 50-day MAP of JPY497.90 is higher than the 200-day MAP of JPY460.66, a bullish indicator. The 200-day MAP has increased to JPY460.66. An increase is another bullish indicator.

- The Moving Average Convergence Divergence (MACD) indicator of 12-day Exponential Moving Average (EMA) of 528.61 minus the 26-day EMA of 516.9 is positive, suggesting a bullish signal. Both the 12-day EMA as well as the 26-day EMA are rising, another bullish signal.

- The price to 50-day EMAP ratio is 1.1, a bullish indicator. In the past 50 days this ratio has exceeded 1.1, ten times suggesting further upside. The 50-day EMAP has increased to JPY502.88. An increase is another bullish indicator.

Past Month:

- Rises to Falls: In the past month the number of rises outnumbered falls 15:7 or 2.1:1.

Past Quarter:

In the last three months the stock has hit a new 52-week high twice. The Best 3 weeks in the past quarter

In the past quarter the week beginning Monday February 08 saw the highest weekly rise of 7.6% for a relative price increase of 5%.

Mon-FriChange %Nikkei 225 index Change %RPC %Vol Ind [1 is avg]
Feb 08-127.62.650.9
Dec 07-112.1-0.42.50.8
Dec 14-181.50.41.10.8

3.3 Other Bullish Signals

- Return on Capital Employed of 7.6% versus sector average of 3.8% and market average of 1.9%.

- Net profit margin has averaged 15.0% in the last 3 years. This is considered superior and suggests a high margin of safety.

SECTION 4 ONGOING BULLISH PARAMETERS

4.1 Rank in the top 10% by Size in the Japan market

DescriptionValueRank
MCap$8.6 billionIn Top 5%
Ave daily TurnoverJPY2.6 billion ($24.9 million)In Top 8%
Annual RevenueJPY426.3 billion ($4 billion)In Top 10%

4.2 Rank in the top 8% by Performance in the Japan market

DescriptionValueRank
EBITDA Margin %76.4In Top 1%
Net Profit Margin %14.4In Top 8%

4.3 Present Value of JPY1000 Invested in the Past [3 Mo, 1 Yr]; The Best Periods with PVJPY1000 > 1,116

PVJPY1,0003 mo ago1 yr ago
8601.TOJPY1,117JPY1,173
Securities & Commodity Futures sectorJPY1,189JPY1,229
Nikkei 225 IndexJPY1,149JPY1,335

4.4 Moving Annual Return of 16.4% in the past year:

Moving Annual Return was 16.4% in the past year. Based on a dynamic start date of 5 years ago, the real rate of return has averaged 4.3%. The Moving Annual Return has been positive in 3 of the last 5 years.

8601Close (JPY)Dividends (JPY)Capital Gain / (Loss) %% YieldAnnual Return %
Feb 25538.72012.24.216.4
1 Yr ago479.9820(9.1)3.8(5.3)
2 Yrs ago528.0227(17.9)4.2(13.7)
3 Yrs ago642.9263.64.27.8
4 Yrs ago620.3129115.216.2

Close 5 years ago JPY558.68

4.5 Annualised Period-based Total Shareholder Returns [TSR %]: The Best Periods with TSR > 7.6%

TSR %1 yr10 yrs
8601.TO17.47.7

4.6 % Growth in EPS > RPS

EPS growth has consistently exceeded growth in RPS [Revenue Per Share].

EPS growth: Sequential EPS growth (Q3 vs Q2, 2021) was up 54.5% and PCP EPS growth (Q3 2021 vs Q3 2020) was up 70.0%. FY EPS growth (FY2020 vs FY2019) was down 2.1%.

RPS growth: Sequential growth in Revenue per share (Q3 vs Q2, 2021) was up 17.9% and PCP growth in Revenue per share (Q3 2021 vs Q3 2020) was down 11.0%. FY growth in Revenue per share (FY2020 vs FY2019) was up 0.01%.

(All figures in %)

Sequential growth in EPS (Q3 vs Q2, 2021)54.5
Sequential growth in RPS (Q3 vs Q2, 2021)17.9
PCP growth in EPS (Q3 2021 vs Q3 2020)70.0
PCP growth in RPS (Q3 2021 vs Q3 2020)-11.0
FY growth in EPS (FY2020 vs FY2019)-2.1
FY growth in RPS (FY2020 vs FY2019)0.01

4.7 Growth > 17% for Revenue and Net Profit:

- Net Profit margin is positive and has seen consecutive rises in recent quarters. [All figures in %]

Qtr-endedRevenue GrowthNet Profit GrowthNet Profit Margin
Dec 20 [Q3 vs Q2]17.963.816.8
Sep 20 [Q2 vs Q4]--12.1

4.8 Satisfies four criteria of Benjamin Graham

- "An earnings-to-price yield of at least twice the triple-A bond"; the stock's earning yield of 7.3% is 63.3 times the triple-A bond yield of 0.1%.

- "A dividend yield of at least two-thirds the triple-A bond yield"; the stock's dividend yield is 32.3 times the triple-A bond yield of 0.1%.

- "A stock price down to two-thirds of "net current asset value" or "net quick liquidation value"; the price is 0 times net current asset value of JPY12021.7 per share.

-"Total debt equal or less than twice the net quick liquidation value"; total debt of JPY4299.3 billion (US$39.7 billion) is 0.2 times the net liquidation value of JPY18547.35 billion (US$171.3 billion).

SECTION 5 TODAY'S BEARISH SIGNALS

5.1 Momentum Down 3.2% Past Week

The price ranged between a low of JPY526.0 on Feb 19 and a high of JPY534.30 on Feb 18.

FebDaiwa SecuritiesClose price [JPY]Price change %Relative change % *Comment
Thu 18Offers 28th highest dividend yield, after price drop534.3-2.8-2.6Steepest Fall
Fri 19Offers 10th lowest Price Earnings in Nikkei 225 Index, after price drop526-1.6-0.8Week-low of 526
Mon 22Offers 25th highest dividend yield in Nikkei 225 Index, despite price rise5290.60.1Top Rise
Wed 24Offers 12th lowest Price Earnings in Nikkei 225 Index, despite price rise530.10.21.8Price rise on beating relative strength

* Relative change is price change of stock with respect to Benchmark Index, Nikkei 225 index.

5.2 Other Bearish Signals

- Return on Equity of 4.9% versus sector average of 7.7%.

- Total Liabilities/EBITDA of 69.3 is more than or equal to 5, this compares unfavourably with the Joseph Piotroski benchmark of 5.

- As per the Du Pont analysis, Return on Equity is less than stellar at 4.9%. This is computed as net profit margin of 14.4% times asset turnover [sales/assets] of 0.02 times leverage factor [total assets/shareholders' equity] of 18.9.Also, this has deteriorated from 5.1% last year.

ROE (%)Profit Margin (%)Asset TurnoverEquity Multiplier
Current Year4.914.40.0218.9
Previous Year5.114.50.0216.8

5.3 Overbought/Bearish Signals:

- The Relative Strength Index (RSI) of 76.2 has penetrated the overbought line of 70, suggesting the price gain of 8.5% in the last 14 days is unusually high.

- The Money Flow Index [MFI] is 88 suggesting an overbought 14-day trend, being above 80. The Money Ratio of 7.3 suggests positive money flow was 7.3 times negative money flow.

SECTION 6 ONGOING BEARISH PARAMETERS

6.1 Rank in the bottom 2% by Gearing in the Japan market

DescriptionValueRank
Total Debt to Equity3.4In Bottom 2%

6.2 Rank in the bottom 3% by Productivity in the Japan market

DescriptionValueRank
Return on Assets [ROA] %0.3In Bottom 3%

6.3 Present Value of JPY1000 Invested in the Past 3 Years; The Worst Period with PVJPY1000 < 953

PVJPY1,0003 yrs ago
8601.TOJPY952
Securities & Commodity Futures sectorJPY928
Nikkei 225 IndexJPY1,378

6.4 Past 3 years: price fall of 16.2%

3-Year price change of -16.2% for Daiwa Securities underperformed the change of 37.8% in the Nikkei 225 index for a relative price change of -54%.

Price Change %3 Years
Daiwa Securities-16.2
Securities & Commodity Futures sector-7.2
Nikkei 225 index37.8

6.5 MCap: 5-Year Decrease of JPY235 billion [$2 billion]

In the past 5 years Market Capitalization has decreased by JPY235.1 billion (20%) from JPY1,150.8 billion to JPY915.8 billion. Based on a dynamic start date of 5 years ago, there have been declines in MCap in 2 out of 5 years.

PriceMCap (JPY B)MCap ($ M)
LastJPY538.70915.88,646
1 Year agoJPY479.98852.57,639.7
2 Years agoJPY528.02974.18,797.1
3 Years agoJPY642.901,23311,533.6
4 Years agoJPY620.311,24911,115.8
5 Years agoJPY558.681,150.810,242.5

6.6 EPS growth [FY2020 vs FY2019] of -2.1%:

FYEPS (JPY)Growth %
202039.11-2.1
201939.95-40.3

6.7 Annualised Period-based Total Shareholder Returns [TSR %]: The Worst Periods with TSR < 3.8%

TSR %3 yrs5 yrs30 yrs
8601.TO-1.63.7-0.9

6.8 Thin Interest Cover

Interest cover of 1.4 is thin and under a safe benchmark figure of 3. However, it has improved from 1.4 a year ago.

YearsInterest cover
20201.4
20191.39
20182.04
20172.41
20162.9

6.9 High Debt to Equity (%)

The debt to equity ratio of 465.6% is above a safe benchmark figure of 70%. However, it has improved from 772.2% a year ago.

YearsDebt to Equity (%)
Mar 2016465.6
Mar 2017772.2
Mar 2018720.92
Mar 2019344.99
Mar 2020341.82

6.10 Declining Volume, down 32% in 5 years

In the past five years, Average Daily Volume of Trading (ADVT) has decreased 31.8% to 5.6 million shares.

Avg. Daily Volume Traded 12 months ended Feb 25, million shares

YearADVT
20215.6
20205.6
20196.6
20188.5
20178.2

6.11 Declining VWAP, down 20% in 5 years

In the past five years Volume Weighted Average Price (VWAP) has decreased by 20.1% to JPY448.75. .

Past five years, 12 months ended Feb 25 (JPY)

YearHigh PriceVWAPLow Price
2021554.5448.75341.49
2020553.77483.0396.05
2019657.88586.37482.59
2018718.42601.95515.73
2017681.9561.49430.86

6.12 Declining share turnover, down 46% in 5 years

In the past five years, average daily share turnover has decreased 46.2% to JPY2.4 billion ($22.5 million). This suggests decreased liquidity.

Past five years, 12 months ended Feb 25 (JPY billion)

YearAverage Daily Turnover
20212.4
20202.6
20193.8
20185.0
20174.4

6.13 Satisfies 1 out of 9 criteria of Joseph Piotroski [pass mark 5]:

- Reduction in total shares on issue.

SECTION 7 FINANCIALS

EXCEL TABLES ARE AVAILABLE TO EXPORT AS FOLLOWS:

Financials Q3 2021, FY 2020, Past 10 Years

http://www.buysellsignals.net/BuySellSignals/report/Japan/Stock/PDF/quarterly/xls/8601_Financials.xls

SECTION 8 PEER GROUP ANALYSIS & RANKING

8.1 BuySellSignals Fundamentals Valuation Ranking: Daiwa Securities vs Tokyo Market

Out of 3,673 stocks and 22 units in the Japan Market, Daiwa Securities is ranked fourth by EBITDA Margin%, 105th by Net Profit $, 374th by Yield and 1769th by Premium to 52-Wk Low.

Tokyo Avg8601RankRank 1Rank 2Rank 3Lowest Rank
EBITDA Margin%6.676.4479.5 Invincible Investment78.6 Zenkoku Hosho78.1 Miyakoshi Holdings(89.5) RED Planet Japan
Net Profit $68 M569.7 M10519.6 B Toyota9.6 B Toshiba8.7 B Sony
Yield (%)2.13.73748.99 Onward Holdings7.95 Japan Tobacco7.8 Interworks Inc.0.1 Sourcenext
Premium to 52-Wk Low (%)58.0257.817690.3 Vital KSK Holdings1.2 Bunkyodo1.9 Sagami Rubber Industries1358.7 BASE
ROE (%)5.24.9225260.95 Toshiba54.5 ZOZO52.8 Hope Inc-
Discount to 52-Wk High (%)3.12.9285687.2 tella Inc81.7 Onkyo73.3 Precision System Science0.04 Hamayuu
ROA (%)0.80.3315533.5 Kitanotatsujin Corp31.7 IR Japan28.96 Kakaku.Com0.005 Sankyo Kasei
Total Debt/Equity (the lower the better)0.8x3.4x3325InterspaceFutureShionogi & Co.10.9x Cedar

Negative values are shown in brackets.

8.2 Market Share

Daiwa Securities vs Securities & Commodity Futures sector [Securities & Commodity Futures sector Total in Brackets]

Revenue of JPY426.3 billion ($4 billion)[16.0% of aggregate sector revenue of JPY2,689.4 billion; down from 17.7% in the previous year.]

Net Profit of JPY60.3 billion ($569.7 million) [16.1% of aggregate sector net profit of JPY379.6 billion; down from 79.9% in the previous year.]

EBIT of JPY294.7 billion ($2.8 billion) [41.8% of aggregate sector EBIT of JPY715 billion; down from 69.8% in the previous year.]

8.3 Share in Index

Daiwa Securities is a constituent of the following indices. Its market capitalisation accounts for 0.5% of the combined MCap of the TOPIX Large70 Index.

Index NameMCap of Index ($ B)MCap as % of Index
TOPIX Large70 Index1,770 0.5
TOPIX 100 Index3,651 0.2
Nikkei 225 Index3,903 0.2
Nikkei 300 Index4,747 0.2
TOPIX 500 Index5,081 0.2
JPX-Nikkei Index 4005,182 0.2
TOPIX 1000 Index5,534 0.2
Nikkei 500 Index5,823 0.1

8.4 Global Rank [out of 47,995 stocks] and Rank of Daiwa Securities in the Asia Region [out of 24,243 stocks]

DescriptionValueGlobal RankIn Asia Region
MCap ($)8.6B2,200739
Total Assets ($)225.8B32692
Revenue ($)4B2,8161,144
Net Profit ($)572M1,707546
Return on Equity %4.919,90311,804
Net Profit Margin %23.74,6702,065
Price to Book0.89,3216,262
Price/Earnings13.67,9914,923
Yield %3.86,6953,084
PV1000 (1Year) $*1,23619,7009,946
$* Change (1Year) %16.820,75710,581

* 1 year ago $1 = JPY 111.59

Feb 25, 2021: $ 1 equals JPY 105.92

8.5 Rank of Daiwa Securities in the Nikkei 225 Index [out of 219 stocks], in the Total Tokyo Market [out of 3721 stocks] and in the Securities & commodity futures sector [out of 38 stocks]

DescriptionValueIn Nikkei 225 IndexIn Total Tokyo MarketIn Securities & commodity futures sector
MCap (JPY)915.8B1071682
Revenue (JPY)426.3B1663452
Net Profit (JPY)60.3B821032
Return on Equity %4.91532,12817
Net Profit Margin %14.41825813
Price to Book0.8501,14716
Price/Earnings13.7701,15114
Yield %3.72737811
PV1000 (1Year) JPY1,173991,30824

SECTION 9 NEWS ARCHIVES (AUG 2017 - NOV 2020)

HTML PAGES ARE AVAILABLE TO EXPORT AS FOLLOWS:

http://www.buysellsignals.net/BuySellSignals/report/Japan/Stock/Daily/Html/8601_Corporate_Wire.html

SECTION 10 CURRENCY SYNOPSIS: JAPANESE YEN (JPY)

10.1 % Change of USD vs Currency Basket Period-Based

In the past year the US Dollars fell 4.4% against the Japanese Yen; in the past three years the US Dollars fell 0.9% against the Japanese Yen.

LastCountry1-day %1-week %1-Year %3-Yrs %
USD1=105.867JPYJapan0.6--4.4-0.9
USD1=8.275SEKSweden-0.1-0.6-15.01.3
USD1=0.707GBPUnited Kingdom-0.2-1.9-8.6-1.2
USD1=8.38NOKNorway-1.0-1.4-10.46.8
USD1=1.256AUDAustralia-0.6-2.7-17.1-1.6
USD1=6.457CNYChina-0.1--8.11.9
USD1=1.251CADCanada-0.6-1.5-5.8-0.9
USD1=1.0USDUnited States Of America0.0---
USD1=20.389MXNMexico-0.70.87.19.9
USD1=1,107.692KRWSouth Korea-0.20.1-9.12.9
USD1=0.822EUREuropean Union-0.2-1.0-10.91.1
USD1=7.755HKDHong Kong---0.5-0.9
USD1=0.907CHFSwitzerland0.20.9-7.4-3.1
USD1=1.343NZDNew Zealand-1.4-3.5-14.9-2.1
USD1=1.319SGDSingapore-0.1-0.7-5.8-0.1

10.2 % Change of JPY vs Currency Basket Period-Based

In the past three years the Japanese Yen rose 0.1% against the New Zealand Dollar. However, in the past year the Japanese Yen fell 9.5% against the New Zealand Dollar.

LastCountry1-day %1-week %1-Year %3-Yrs %
JPY1=0.013NZDNew Zealand-1.2-2.2-9.50.1
JPY1=0.007GBPUnited Kingdom-1.1-1.7-3.5-0.3
JPY1=0.013SGDSingapore-0.4-0.3-0.51.7
JPY1=0.012AUDAustralia-0.4-1.7-11.9-
JPY1=0.08NOKNorway-0.60.1-4.78.6
JPY1=0.061CNYChina-0.40.5-2.93.2
JPY1=0.009CHFSwitzerland0.71.6-2.4-1.9
JPY1=0.009USDUnited States Of America-0.40.45.71.3
JPY1=0.012CADCanada-0.5-0.60.20.2
JPY1=10.526KRWSouth Korea-0.30.8-3.74.5
JPY1=0.073HKDHong Kong-0.40.55.20.4
JPY1=0.008EUREuropean Union-0.3-0.3-6.02.5
JPY1=0.078SEKSweden-0.3--10.62.8
JPY1=0.194MXNMexico-1.71.513.311.7

SECTION 11 HISTORICAL PERSPECTIVE

Year-on-Year Comparison USD/JPY (Trailing year - ended 24 Feb)

In the past 5 years, the JPY has appreciated against the USD at an average compound annual growth rate of 1.1%.

202120202019201820172016
Close105.87110.73110.71106.86112.15111.81
% Change-4.43.6-4.70.36.7
Range99.03 - 114.47110.97 - 121.54

USD1 buys JPY 105.87 today: Appreciation of JPY from 117.13 v/s USD fifteen years ago

Last5 Yrs ago10 Yrs ago15 Yrs ago
USD/JPY105.87112.0285.87117.13

Present Value of JPY1000 Invested in USD 10 years ago is JPY1,233

PVJPY1,0005 yrs ago10 yrs ago
USD/JPYJPY945JPY1,233

SECTION 12 MACROECONOMIC INDICATORS

INDICATORUNITED STATES[USD]JAPAN[JPY]
GDP (Billion USD)21,4335,082
GDP growth yoy (%)-2.5-1.2
Interest rate (%)0.25-0.1
Inflation rate (%)1.4-1.2
Unemployment rate (%)6.32.9
Budget / (Deficit) to GDP ratio (%)(4.6)(3.8)
Current account / (Deficit) to GDP ratio (%)-2.33.6
Debt to GDP ratio (%)107.6236.6

SECTION 13 CREDIT RATING SUMMARY

Japan:

Rating AgencyLong TermForeign CurrencyDescription
Moody'sA1
FitchA
S&PA+Strong capacity to meet financial commitments, but somewhat susceptible to adverse economic conditions and changes in circumstances. The plus (+) sign shows relative standing within the major rating category.
FITCHAHigh credit quality: 'A' ratings denote expectations of low default risk. The capacity for payment of financial commitments is considered strong.
DAGONGA+High Credit Quality: "A" ratings denote expectations of relatively low default risk. The capacity for payment of financial commitments is considered sufficient. However, this capacity may be more vulnerable than those of the higher ratings to adverse business or economic conditions due to any foreseeable event. The plus (+) sign shows relative standing within the major rating category.

GLOSSARY

ADVT: Average Daily Volume of shares Traded

Annual Return: Dividends Paid In a 12-Month Period/Price at the Beginning of the Period + Capital Gain or Loss over 1 Year/Price 1 Year Ago (%)

Current Ratio: Current Assets/Current Liabiliites (times)

Debt/Equity: Net Debt/Net Assets %

Dividend Yield: Dividend Per Share/Share Price (%)

EBIT Margin : Earnings Before Interest and Tax/Revenue (%)

Income during the n years (3/2/1): Dividends received during the Period

Interest Cover: Earnings Before Interest and Tax/Interest (times)

Moving Average Price (n periods): Sum of Prices for each Period/Number of Periods

PCP: Previous Corresponding Period

PV1000: Present value of 1000 invested 1 year/'n' years ago

Price Close/Moving Avg Price: Latest Price/Moving Average Price

Price/Earnings: Share Price/Earnings Per Share (times)

Price/NTA: Closing Share Price/Net Tangible Assets Per Share (times)

Relative Price Change [RPC]: Relative price change is price change of stock with respect to Benchmark Index

Relative Strength (6 Months): Price close today/Price close 6 months ago, then ranked by percentile within the entire market.

Return on Assets: Net Profit/Total Assets (%)

Return on Equity (Shareholders' Funds): Net Profit/Net Assets (%)

TSR: Total Shareholder Returns is expressed as an annualized rate of return for shareholders after allowing for capital appreciation and dividend

TTM: Trailing 12 Months

Total Liabilities/Total Assets: Total Liabilities/Total Assets

Volume Index (VI): Number of shares traded in the period/Average number of shares traded for the period

Volume Weighted Average Price (VWAP): The Volume Weighted Average Price (VWAP) is the summation of turnover divided by total volume in the same period.

Created by www.buysellsignals.com