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Delica Foods Holdings: Confirmation Letter
Delica Foods Holdings: Financial Report - Term 21 (2023/04/01 - 2024/03/31)
Rating [security companies rating]
Downgraded - bearish code | Stock name | Securities company | Previously | After changing | ------ | ------------- | ------------- | ----------------- | --------- | <7205> | Hino Motors | UBS | "Neutral" | "Sell" | <4540> | Tsumura | Daiwa | "2" | "3" | <3392>
Delica HD Research Memo (9): The target consolidated dividend payout ratio will be raised from around 20% to around 30% from the fiscal year ending March 2025.
Delica Foods Holdings (3392) has introduced dividends and shareholder benefits as a shareholder return policy. Regarding dividends, the basic policy is to strive for strengthening profitability as a source of dividends while maintaining continuous and stable dividends, and while the conventional dividend payout ratio was about 20%, the company aims for a dividend payout ratio of about 30% after FY2025, maintaining a progressive dividend policy. Earnings per share for the 2024 fiscal year
Delica Food HD Research Memo (7): Starting a new growth strategy towards achieving a long-term sales target of 100 billion yen (1).
Delica Foods Holdings Ltd. <3392>'s outlook for the future. 2. Review of the 5th medium-term management plan (1) Review of the previous medium-term management plan. In the 4th medium-term management plan "Transformation 2024" (2022-2024) that started from the term ending in March 2022, key initiatives include "Reform of business portfolio", "Establishment of fresh produce logistics infrastructure", and "Sustainability" to respond to new lifestyles that have emerged due to the radically changed market environment in the wake of the COVID-19 pandemic.
Delica FH Research Memo (5): Although the self-capital ratio deteriorates slightly due to borrowing for new construction, it remains in the 30% range.
- Performance Trends 2. Financial Situation and Management Indicators. Delica Foods Holdings <3392> total assets at the end of March 2024 increased by ¥398.1 million from the end of the previous term to ¥2,884.8 million. Looking at the main factors of volatility, current assets decreased by JPY 1,252 million due to the payment of construction costs for the new factory (Osaka FS Center), while accounts receivable increased by JPY 1,076 million and other current assets increased. Note that the March end was affected by holidays, resulting in accounts receivable of 700 million yen.
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