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Mitsui Knowledge Industry Co (TSE:2665) Piotroski F-Score : 7 (As of Sep. 26, 2024)


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What is Mitsui Knowledge Industry Co Piotroski F-Score?

Good Sign:

Piotroski F-Score of 7 is 7, indicating very healthy situation.

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Mitsui Knowledge Industry Co has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

The historical rank and industry rank for Mitsui Knowledge Industry Co's Piotroski F-Score or its related term are showing as below:

TSE:2665' s Piotroski F-Score Range Over the Past 10 Years
Min: 5   Med: 6   Max: 8
Current: 7

During the past 7 years, the highest Piotroski F-Score of Mitsui Knowledge Industry Co was 8. The lowest was 5. And the median was 6.


Mitsui Knowledge Industry Co Piotroski F-Score Historical Data

The historical data trend for Mitsui Knowledge Industry Co's Piotroski F-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Mitsui Knowledge Industry Co Piotroski F-Score Chart

Mitsui Knowledge Industry Co Annual Data
Trend Mar08 Mar09 Mar10 Mar11 Mar12 Mar13 Mar14
Piotroski F-Score
Get a 7-Day Free Trial - - 7.00 6.00 5.00

Mitsui Knowledge Industry Co Quarterly Data
Dec09 Mar10 Jun10 Sep10 Dec10 Mar11 Jun11 Sep11 Dec11 Mar12 Jun12 Sep12 Dec12 Mar13 Jun13 Sep13 Dec13 Mar14 Jun14 Sep14
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 5.00 5.00 5.00 6.00 7.00

Competitive Comparison of Mitsui Knowledge Industry Co's Piotroski F-Score

For the Communication Equipment subindustry, Mitsui Knowledge Industry Co's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Mitsui Knowledge Industry Co's Piotroski F-Score Distribution in the Hardware Industry

For the Hardware industry and Technology sector, Mitsui Knowledge Industry Co's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Mitsui Knowledge Industry Co's Piotroski F-Score falls into.


How is the Piotroski F-Score calculated?

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Sep14) TTM:Last Year (Sep13) TTM:
Net Income was 174 + 644 + -602 + -98 = 円118 Mil.
Cash Flow from Operations was 0 + 0 + 0 + 719 = 円719 Mil.
Revenue was 11500 + 14837 + 8730 + 11719 = 円46,786 Mil.
Gross Profit was 3047 + 3943 + 2322 + 2815 = 円12,127 Mil.
Average Total Assets from the begining of this year (Sep13)
to the end of this year (Sep14) was
(39718 + 39576 + 39969 + 40045 + 41196) / 5 = 円40100.8 Mil.
Total Assets at the begining of this year (Sep13) was 円39,718 Mil.
Long-Term Debt & Capital Lease Obligation was 円0 Mil.
Total Current Assets was 円31,600 Mil.
Total Current Liabilities was 円9,885 Mil.
Net Income was 205 + 675 + -555 + -60 = 円265 Mil.

Revenue was 10784 + 15112 + 8604 + 11050 = 円45,550 Mil.
Gross Profit was 2959 + 3911 + 2134 + 2774 = 円11,778 Mil.
Average Total Assets from the begining of last year (Sep12)
to the end of last year (Sep13) was
(39541 + 39432 + 41695 + 40514 + 39718) / 5 = 円40180 Mil.
Total Assets at the begining of last year (Sep12) was 円39,541 Mil.
Long-Term Debt & Capital Lease Obligation was 円0 Mil.
Total Current Assets was 円30,987 Mil.
Total Current Liabilities was 円7,940 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Mitsui Knowledge Industry Co's current Net Income (TTM) was 118. ==> Positive ==> Score 1.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Mitsui Knowledge Industry Co's current Cash Flow from Operations (TTM) was 719. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Sep13)
=118/39718
=0.00297095

ROA (Last Year)=Net Income/Total Assets (Sep12)
=265/39541
=0.0067019

Mitsui Knowledge Industry Co's return on assets of this year was 0.00297095. Mitsui Knowledge Industry Co's return on assets of last year was 0.0067019. ==> Last year is higher ==> Score 0.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Mitsui Knowledge Industry Co's current Net Income (TTM) was 118. Mitsui Knowledge Industry Co's current Cash Flow from Operations (TTM) was 719. ==> 719 > 118 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Sep14)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep13 to Sep14
=0/40100.8
=0

Gearing (Last Year: Sep13)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep12 to Sep13
=0/40180
=0

Mitsui Knowledge Industry Co's gearing of this year was 0. Mitsui Knowledge Industry Co's gearing of last year was 0. ==> This year is lower or equal to last year. ==> Score 1.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Sep14)=Total Current Assets/Total Current Liabilities
=31600/9885
=3.19676277

Current Ratio (Last Year: Sep13)=Total Current Assets/Total Current Liabilities
=30987/7940
=3.90264484

Mitsui Knowledge Industry Co's current ratio of this year was 3.19676277. Mitsui Knowledge Industry Co's current ratio of last year was 3.90264484. ==> Last year's current ratio is higher ==> Score 0.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

Mitsui Knowledge Industry Co's number of shares in issue this year was 118.343. Mitsui Knowledge Industry Co's number of shares in issue last year was 118.343. ==> There is smaller number of shares in issue this year, or the same. ==> Score 1.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=12127/46786
=0.25920147

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=11778/45550
=0.258573

Mitsui Knowledge Industry Co's gross margin of this year was 0.25920147. Mitsui Knowledge Industry Co's gross margin of last year was 0.258573. ==> This year's gross margin is higher. ==> Score 1.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Sep13)
=46786/39718
=1.17795458

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep12)
=45550/39541
=1.15196884

Mitsui Knowledge Industry Co's asset turnover of this year was 1.17795458. Mitsui Knowledge Industry Co's asset turnover of last year was 1.15196884. ==> This year's asset turnover is higher. ==> Score 1.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+1+0+1+1+0+1+1+1
=7

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Mitsui Knowledge Industry Co has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

Mitsui Knowledge Industry Co  (TSE:2665) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


Mitsui Knowledge Industry Co Piotroski F-Score Related Terms

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Mitsui Knowledge Industry Co Business Description

Traded in Other Exchanges
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Mitsui Knowledge Industry Co Ltd provide comprehensive services from consultation, R&D, product sales, to operation & maintenance in the area of system & network integration as well as datacenter services and other related IT communication services.

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