DDM Analysis: 4023.T

Valuation Snapshot

Stable Growth	$2,857.13 - $5,538.96	$3,924.76
Multi-Stage	$5,536.20 - $6,085.50	$5,805.56
Blended Fair Value	$4,865.16
Current Price	$3,820.00
Upside	27.36%
Decision	Don't Buy

Dividend History & Growth Metrics (10Y)

Metric	5Y CAGR	10Y CAGR	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
DPS	5.25%	8.96%	99.73	112.74	104.42	71.01	71.01	77.22	61.87	43.51	40.45	44.11
YoY Growth	-	-	-11.54%	7.97%	47.05%	0.00%	-8.04%	24.80%	42.20%	7.57%	-8.30%	4.35%
Dividend Yield	-	-	3.17%	4.01%	3.82%	2.23%	3.31%	4.92%	2.50%	1.65%	2.19%	3.70%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)

Net Income To Common (M)	8,468.00
(-) Cash Dividends Paid (M)	4,431.00
(=) Cash Retained (M)	4,037.00

Metric	LOW	BASE	HIGH
Required Retention Ratio	20.0%	12.5%	7.5%
(=) Cash Required (M)	1,693.60	1,058.50	635.10
Cash Retained (M)	4,037.00	4,037.00	4,037.00
(-) Cash Required (M)	-1,693.60	-1,058.50	-635.10
(=) Excess Retained (M)	2,343.40	2,978.50	3,401.90
(/) Shares Outstanding (M)	46.73	46.73	46.73
(=) Excess Retained per Share	50.15	63.75	72.81
LTM Dividend per Share	94.83	94.83	94.83
(+) Excess Retained per Share	50.15	63.75	72.81
(=) Adjusted Dividend	144.98	158.58	167.64
WACC / Discount Rate	5.72%	5.72%	5.72%
Growth Rate	0.61%	1.61%	2.61%
Fair Value	$2,857.13	$3,924.76	$5,538.96
Upside / Downside	-25.21%	2.74%	45.00%

Multi-Stage Model: Projections

(USD in Millions)

Metric	TTM	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Terminal
Net Income (M)	8,468.00	8,604.75	8,743.70	8,884.90	9,028.38	9,174.17	9,449.40
Payout Ratio	52.33%	59.86%	67.40%	74.93%	82.47%	90.00%	92.50%
Projected Dividends (M)	4,431.00	5,150.90	5,892.89	6,657.51	7,445.28	8,256.76	8,740.70

Multi-Stage Valuation

Metric	LOW	BASE	HIGH
WACC / Discount Rate	5.72%	5.72%	5.72%
Growth Rate	0.61%	1.61%	2.61%
Year 1 PV (M)	4,824.24	4,872.18	4,920.13
Year 2 PV (M)	5,169.16	5,272.42	5,376.70
Year 3 PV (M)	5,469.51	5,634.22	5,802.20
Year 4 PV (M)	5,728.79	5,959.96	6,198.06
Year 5 PV (M)	5,950.28	6,251.91	6,565.66
PV of Terminal Value (M)	231,537.09	243,274.20	255,482.54
Equity Value (M)	258,679.07	271,264.89	284,345.28
Shares Outstanding (M)	46.73	46.73	46.73
Fair Value	$5,536.20	$5,805.56	$6,085.50
Upside / Downside	44.93%	51.98%	59.31%

High-Yield Dividend Screener

US Stocks Global Stocks

« Prev Page 54 of 151 Next »

Ticker ⇵	Company ⇵	Dividend Yield % ▼	Dividend Per Share ⇵	Payout Ratio % ⇵
600425.SS	Xinjiang Qingsong Building Materials and Chemicals (Group) Co, Ltd.	2.99%	$0.12	76.32%
605098.SS	Shanghai Action Education Technology CO.,LTD.	2.99%	$1.25	51.61%
6473.T	JTEKT Corporation	2.99%	$51.92	84.17%
B2H.OL	B2Holding ASA	2.99%	$0.21	21.39%
GENTERA.MX	Gentera, S.A.B. de C.V.	2.99%	$1.36	28.15%
JYSK.CO	Jyske Bank A/S	2.99%	$26.22	30.23%
MCGS.QA	Medicare Group Q.P.S.C.	2.99%	$0.20	64.83%
002003.SZ	Zhejiang Weixing Industrial Development Co., Ltd.	2.98%	$0.32	55.93%
0RHU.L	Flughafen Wien AG	2.98%	$1.65	62.41%
8914.T	Arealink Co., Ltd.	2.98%	$31.69	44.83%
DXT.TO	Dexterra Group Inc.	2.98%	$0.35	55.12%
NST.AX	Northern Star Resources Limited	2.98%	$0.73	45.12%
600704.SS	Wuchan Zhongda Group Co.,Ltd.	2.97%	$0.17	22.55%
8593.T	Mitsubishi HC Capital Inc.	2.97%	$38.97	34.55%
KBL.TO	K-Bro Linen Inc.	2.97%	$1.04	69.43%
O10.SI	Far East Orchard Limited	2.97%	$0.04	30.11%
PLANB.BK	Plan B Media Public Company Limited	2.97%	$0.12	46.85%
005850.KS	SL Corporation	2.96%	$1,235.83	18.10%
6527.TWO	Crystalvue Medical Corporation	2.96%	$2.24	40.94%
9201.T	Japan Airlines Co., Ltd.	2.96%	$85.89	30.05%
9633.HK	Nongfu Spring Co., Ltd.	2.96%	$1.43	61.73%
9931.TW	Hsin Kao Gas Co.,Ltd.	2.96%	$1.01	40.68%
FTS	Fortis Inc.	2.96%	$1.54	47.07%
035890.KQ	Seohee Construction Co., Ltd.	2.95%	$47.87	7.53%
3132.T	Macnica Fuji Electronics Holdings, Inc.	2.95%	$70.52	56.32%
600667.SS	Wuxi Taiji Industry Limited Corporation	2.95%	$0.23	83.84%
603577.SS	Qingdao Huijintong Power Equipment Co.,Ltd.	2.95%	$0.31	79.62%
603699.SS	Neway Valve (Suzhou) Co., Ltd.	2.95%	$1.53	81.92%
000020.KS	Dongwha Pharm.Co.,Ltd	2.94%	$182.44	65.71%
000895.SZ	Henan Shuanghui Investment & Development Co.,Ltd.	2.94%	$0.78	52.50%
002540.SZ	Jiangsu Asia-Pacific Light Alloy Technology Co., Ltd.	2.94%	$0.21	63.05%
013120.KQ	DongWon Development Co.,Ltd.	2.94%	$80.92	85.28%
107590.KS	Miwon Holdings Co., Ltd.	2.94%	$1,985.59	19.06%
6779.T	Nihon Dempa Kogyo Co., Ltd.	2.94%	$30.05	58.30%
8084.T	Ryoden Corporation	2.94%	$106.29	46.57%
8890.T	Raysum Co., Ltd.	2.94%	$173.16	50.05%
9303.T	The Sumitomo Warehouse Co., Ltd.	2.94%	$104.40	36.71%
APZ.AX	Aspen Group	2.94%	$0.16	31.96%
FSECURE.HE	F-Secure Oyj	2.94%	$0.06	45.60%
RELAIS.HE	Relais Group Oyj	2.94%	$0.50	54.01%
0QN2.L	Interroll Holding AG	2.93%	$63.83	41.54%
3515.TW	ASROCK Incorporation	2.93%	$7.30	57.65%
601619.SS	Ningxia Jiaze Renewables Corporation Limited	2.93%	$0.13	56.17%
8508.T	J Trust Co., Ltd.	2.93%	$13.97	39.79%
000166.SZ	Shenwan Hongyuan Group Co., Ltd.	2.92%	$0.15	41.10%
002299.SZ	Fujian Sunner Development Co., Ltd.	2.92%	$0.48	39.69%
4949.TW	Win Win Precision Technology Co., Ltd.	2.92%	$1.08	55.94%
5386.T	Tsuruya Co., Ltd.	2.92%	$11.98	57.58%
600267.SS	Zhejiang Hisun Pharmaceutical Co., Ltd.	2.92%	$0.29	61.49%
600758.SS	LIAONING ENERGY INDUSTRY Co.,LTD	2.92%	$0.11	69.99%

Financial Statements

Fundamentals

Valuations

Miscellaneous

Mode

Ticker

Industry

Sector

Kureha Corporation (4023.T)

Valuation Snapshot

Dividend History & Growth Metrics (10Y)

Stable Growth Model (Adjusted)

Multi-Stage Model: Projections

Multi-Stage Valuation

High-Yield Dividend Screener