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Japan Infrastructure Fund Investment (TSE:9287) Piotroski F-Score : 6 (As of Apr. 06, 2025)


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What is Japan Infrastructure Fund Investment 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

Japan Infrastructure Fund Investment has an F-score of 6 indicating the company's financial situation is typical for a stable company.

The historical rank and industry rank for Japan Infrastructure Fund Investment's Piotroski F-Score or its related term are showing as below:

TSE:9287' s Piotroski F-Score Range Over the Past 10 Years
Min: 6   Med: 6   Max: 6
Current: 6

During the past 3 years, the highest Piotroski F-Score of Japan Infrastructure Fund Investment was 6. The lowest was 6. And the median was 6.


Japan Infrastructure Fund Investment Piotroski F-Score Historical Data

The historical data trend for Japan Infrastructure Fund Investment'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.

Japan Infrastructure Fund Investment Piotroski F-Score Chart

Japan Infrastructure Fund Investment Annual Data
Trend Nov21 Nov22 Nov23
Piotroski F-Score
N/A N/A 6.00

Japan Infrastructure Fund Investment Semi-Annual Data
Nov20 May21 Nov21 May22 Nov22 May23 Nov23 May24 Nov24
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only N/A - 6.00 - -

Competitive Comparison of Japan Infrastructure Fund Investment's Piotroski F-Score

For the Utilities - Renewable subindustry, Japan Infrastructure Fund Investment'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.


Japan Infrastructure Fund Investment's Piotroski F-Score Distribution in the Utilities - Independent Power Producers Industry

For the Utilities - Independent Power Producers industry and Utilities sector, Japan Infrastructure Fund Investment's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Japan Infrastructure Fund Investment's Piotroski F-Score falls into.


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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 (Nov23) TTM:Last Year (Nov22) TTM:
Net Income was 円1,112 Mil.
Cash Flow from Operations was 円3,629 Mil.
Revenue was 円5,399 Mil.
Gross Profit was 円1,965 Mil.
Average Total Assets from the begining of this year (Nov22)
to the end of this year (Nov23) was (40847.777 + 60507) / 2 = 円50677.3885 Mil.
Total Assets at the begining of this year (Nov22) was 円40,848 Mil.
Long-Term Debt & Capital Lease Obligation was 円26,242 Mil.
Total Current Assets was 円6,177 Mil.
Total Current Liabilities was 円2,726 Mil.
Net Income was 円792 Mil.

Revenue was 円3,526 Mil.
Gross Profit was 円1,266 Mil.
Average Total Assets from the begining of last year (Nov21)
to the end of last year (Nov22) was (21855.419 + 40847.777) / 2 = 円31351.598 Mil.
Total Assets at the begining of last year (Nov21) was 円21,855 Mil.
Long-Term Debt & Capital Lease Obligation was 円17,049 Mil.
Total Current Assets was 円4,556 Mil.
Total Current Liabilities was 円2,018 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.

Japan Infrastructure Fund Investment's current Net Income (TTM) was 1,112. ==> 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.

Japan Infrastructure Fund Investment's current Cash Flow from Operations (TTM) was 3,629. ==> 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 (Nov22)
=1112.29/40847.777
=0.02723012

ROA (Last Year)=Net Income/Total Assets (Nov21)
=791.789/21855.419
=0.0362285

Japan Infrastructure Fund Investment's return on assets of this year was 0.02723012. Japan Infrastructure Fund Investment's return on assets of last year was 0.0362285. ==> 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.

Japan Infrastructure Fund Investment's current Net Income (TTM) was 1,112. Japan Infrastructure Fund Investment's current Cash Flow from Operations (TTM) was 3,629. ==> 3,629 > 1,112 ==> 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: Nov23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Nov22 to Nov23
=26242.262/50677.3885
=0.5178298

Gearing (Last Year: Nov22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Nov21 to Nov22
=17048.72/31351.598
=0.5437911

Japan Infrastructure Fund Investment's gearing of this year was 0.5178298. Japan Infrastructure Fund Investment's gearing of last year was 0.5437911. ==> 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: Nov23)=Total Current Assets/Total Current Liabilities
=6177.076/2725.917
=2.26605432

Current Ratio (Last Year: Nov22)=Total Current Assets/Total Current Liabilities
=4555.898/2018.193
=2.25741443

Japan Infrastructure Fund Investment's current ratio of this year was 2.26605432. Japan Infrastructure Fund Investment's current ratio of last year was 2.25741443. ==> This year's current ratio is higher. ==> Score 1.

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.

Japan Infrastructure Fund Investment's number of shares in issue this year was 0.375. Japan Infrastructure Fund Investment's number of shares in issue last year was 0.251. ==> 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
=1965.334/5398.891
=0.3640255

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1266.443/3526.432
=0.35912872

Japan Infrastructure Fund Investment's gross margin of this year was 0.3640255. Japan Infrastructure Fund Investment's gross margin of last year was 0.35912872. ==> 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 (Nov22)
=5398.891/40847.777
=0.13217099

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Nov21)
=3526.432/21855.419
=0.16135275

Japan Infrastructure Fund Investment's asset turnover of this year was 0.13217099. Japan Infrastructure Fund Investment's asset turnover of last year was 0.16135275. ==> 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+1+0+1+0
=6

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

Japan Infrastructure Fund Investment has an F-score of 6 indicating the company's financial situation is typical for a stable company.

Japan Infrastructure Fund Investment  (TSE:9287) 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.


Japan Infrastructure Fund Investment Piotroski F-Score Related Terms

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Japan Infrastructure Fund Investment Business Description

Traded in Other Exchanges
N/A
Address
2-10-5 Nihonbashi Kayabacho, Chuo-ku, Tokyo Sumitomo Life Kayabacho Building, Tokyo, JPN
Japan Infrastructure Fund Investment Corp engages in the provision of investment management services. It focuses its investments on solar power generation facilities.

Japan Infrastructure Fund Investment Headlines

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