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Fujibo Holdings (TSE:3104) Piotroski F-Score : 4 (As of Jun. 15, 2024)


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What is Fujibo Holdings Piotroski F-Score?

The zones of discrimination were as such:

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

Fujibo Holdings has an F-score of 4 indicating the company's financial situation is typical for a stable company.

The historical rank and industry rank for Fujibo Holdings's Piotroski F-Score or its related term are showing as below:

TSE:3104' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 4   Max: 9
Current: 4

During the past 13 years, the highest Piotroski F-Score of Fujibo Holdings was 9. The lowest was 2. And the median was 4.


Fujibo Holdings Piotroski F-Score Historical Data

The historical data trend for Fujibo Holdings'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.

Fujibo Holdings Piotroski F-Score Chart

Fujibo Holdings Annual Data
Trend Mar14 Mar15 Mar16 Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5.00 5.00 6.00 6.00 4.00

Fujibo Holdings Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
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 - 4.00 - - -

Competitive Comparison of Fujibo Holdings's Piotroski F-Score

For the Textile Manufacturing subindustry, Fujibo Holdings'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.


Fujibo Holdings's Piotroski F-Score Distribution in the Manufacturing - Apparel & Accessories Industry

For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Fujibo Holdings's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Fujibo Holdings'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 (Mar23) TTM:Last Year (Mar22) TTM:
Net Income was 円3,399 Mil.
Cash Flow from Operations was 円5,175 Mil.
Revenue was 円37,669 Mil.
Gross Profit was 円12,145 Mil.
Average Total Assets from the begining of this year (Mar22)
to the end of this year (Mar23) was (58531 + 61368) / 2 = 円59949.5 Mil.
Total Assets at the begining of this year (Mar22) was 円58,531 Mil.
Long-Term Debt & Capital Lease Obligation was 円131 Mil.
Total Current Assets was 円23,003 Mil.
Total Current Liabilities was 円11,869 Mil.
Net Income was 円4,455 Mil.

Revenue was 円35,916 Mil.
Gross Profit was 円12,674 Mil.
Average Total Assets from the begining of last year (Mar21)
to the end of last year (Mar22) was (55789 + 58531) / 2 = 円57160 Mil.
Total Assets at the begining of last year (Mar21) was 円55,789 Mil.
Long-Term Debt & Capital Lease Obligation was 円190 Mil.
Total Current Assets was 円22,544 Mil.
Total Current Liabilities was 円11,476 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.

Fujibo Holdings's current Net Income (TTM) was 3,399. ==> 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.

Fujibo Holdings's current Cash Flow from Operations (TTM) was 5,175. ==> 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 (Mar22)
=3399/58531
=0.05807179

ROA (Last Year)=Net Income/Total Assets (Mar21)
=4455/55789
=0.07985445

Fujibo Holdings's return on assets of this year was 0.05807179. Fujibo Holdings's return on assets of last year was 0.07985445. ==> 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.

Fujibo Holdings's current Net Income (TTM) was 3,399. Fujibo Holdings's current Cash Flow from Operations (TTM) was 5,175. ==> 5,175 > 3,399 ==> 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: Mar23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar22 to Mar23
=131/59949.5
=0.00218517

Gearing (Last Year: Mar22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar21 to Mar22
=190/57160
=0.003324

Fujibo Holdings's gearing of this year was 0.00218517. Fujibo Holdings's gearing of last year was 0.003324. ==> 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: Mar23)=Total Current Assets/Total Current Liabilities
=23003/11869
=1.93807397

Current Ratio (Last Year: Mar22)=Total Current Assets/Total Current Liabilities
=22544/11476
=1.96444754

Fujibo Holdings's current ratio of this year was 1.93807397. Fujibo Holdings's current ratio of last year was 1.96444754. ==> 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.

Fujibo Holdings's number of shares in issue this year was 11.465. Fujibo Holdings's number of shares in issue last year was 11.457. ==> There is larger number of shares in issue this year. ==> Score 0.

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
=12145/37669
=0.32241366

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=12674/35916
=0.35287894

Fujibo Holdings's gross margin of this year was 0.32241366. Fujibo Holdings's gross margin of last year was 0.35287894. ==> Last year's gross margin is higher ==> Score 0.

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 (Mar22)
=37669/58531
=0.64357349

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar21)
=35916/55789
=0.64378282

Fujibo Holdings's asset turnover of this year was 0.64357349. Fujibo Holdings's asset turnover of last year was 0.64378282. ==> Last year's asset turnover is higher ==> Score 0.

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+0+0+0
=4

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

Fujibo Holdings has an F-score of 4 indicating the company's financial situation is typical for a stable company.

Fujibo Holdings  (TSE:3104) 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.


Fujibo Holdings Piotroski F-Score Related Terms

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Fujibo Holdings (TSE:3104) Business Description

Traded in Other Exchanges
N/A
Address
1-18-12, Ningyo-cho Nihonbashi, Chuo-ku, Tokyo, JPN, 103-0013
Fujibo Holdings Inc is a Japan-based abrasive product manufacturing company. It operates in four business divisions. Polishing pad business offers precision polishing of silicon wafers and all types of semiconductor materials, metal, and glass. Chemical industrial business is engaged in the production of raw materials for medicines, agricultural chemicals, electronic materials, and functional chemicals. The textile business manufactures special and functional synthetic fibers, including fibers with strong adhesive properties, luminous fibers, thermochromic yarn, and photochromic Yarn. Other businesses include the export of vehicles and automotive components, manufacturing, and sale of chemical products, and refining of used solvents.

Fujibo Holdings (TSE:3104) Headlines

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