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Sakata Seed (TSE:1377) Beneish M-Score : -2.16 (As of Apr. 03, 2025)


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What is Sakata Seed Beneish M-Score?

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Good Sign:

Beneish M-Score -2.16 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Sakata Seed's Beneish M-Score or its related term are showing as below:

TSE:1377' s Beneish M-Score Range Over the Past 10 Years
Min: -2.58   Med: -2.41   Max: -2.16
Current: -2.16

During the past 13 years, the highest Beneish M-Score of Sakata Seed was -2.16. The lowest was -2.58. And the median was -2.41.


Sakata Seed Beneish M-Score Historical Data

The historical data trend for Sakata Seed's Beneish M-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.

Sakata Seed Beneish M-Score Chart

Sakata Seed Annual Data
Trend May15 May16 May17 May18 May19 May20 May21 May22 May23 May24
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -2.38 -2.50 -2.41 -2.40 -2.16

Sakata Seed Quarterly Data
Feb20 May20 Aug20 Nov20 Feb21 May21 Aug21 Nov21 Feb22 May22 Aug22 Nov22 Feb23 May23 Aug23 Nov23 Feb24 May24 Aug24 Nov24
Beneish M-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 - - -2.16 - -

Competitive Comparison of Sakata Seed's Beneish M-Score

For the Farm Products subindustry, Sakata Seed's Beneish M-Score, along with its competitors' market caps and Beneish M-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.


Sakata Seed's Beneish M-Score Distribution in the Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Sakata Seed's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Sakata Seed's Beneish M-Score falls into.


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Sakata Seed Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of Sakata Seed for today is based on a combination of the following eight different indices:

M=-4.84+0.92 * DSRI+0.528 * GMI+0.404 * AQI+0.892 * SGI+0.115 * DEPI
=-4.84+0.92 * 1.034+0.528 * 1.0105+0.404 * 1.0336+0.892 * 1.1477+0.115 * 0.9715
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1+4.679 * 0.047718-0.327 * 1.2524
=-2.16

* 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 (May24) TTM:Last Year (May23) TTM:
Total Receivables was 円21,779 Mil.
Revenue was 円88,677 Mil.
Gross Profit was 円53,973 Mil.
Total Current Assets was 円116,846 Mil.
Total Assets was 円192,717 Mil.
Property, Plant and Equipment(Net PPE) was 円45,865 Mil.
Depreciation, Depletion and Amortization(DDA) was 円4,468 Mil.
Selling, General, & Admin. Expense(SGA) was 円0 Mil.
Total Current Liabilities was 円22,906 Mil.
Long-Term Debt & Capital Lease Obligation was 円1,077 Mil.
Net Income was 円16,162 Mil.
Gross Profit was 円0 Mil.
Cash Flow from Operations was 円6,966 Mil.
Total Receivables was 円18,352 Mil.
Revenue was 円77,263 Mil.
Gross Profit was 円47,519 Mil.
Total Current Assets was 円96,137 Mil.
Total Assets was 円160,715 Mil.
Property, Plant and Equipment(Net PPE) was 円40,369 Mil.
Depreciation, Depletion and Amortization(DDA) was 円3,810 Mil.
Selling, General, & Admin. Expense(SGA) was 円0 Mil.
Total Current Liabilities was 円15,434 Mil.
Long-Term Debt & Capital Lease Obligation was 円536 Mil.




1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI=(Receivables_t / Revenue_t) / (Receivables_t-1 / Revenue_t-1)
=(21779 / 88677) / (18352 / 77263)
=0.245599 / 0.237526
=1.034

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI=GrossMargin_t-1 / GrossMargin_t
=(GrossProfit_t-1 / Revenue_t-1) / (GrossProfit_t / Revenue_t)
=(47519 / 77263) / (53973 / 88677)
=0.615029 / 0.608647
=1.0105

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI=(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) / (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
=(1 - (116846 + 45865) / 192717) / (1 - (96137 + 40369) / 160715)
=0.1557 / 0.150633
=1.0336

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI=Sales_t / Sales_t-1
=Revenue_t / Revenue_t-1
=88677 / 77263
=1.1477

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI=(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1)) / (Depreciation_t / (Depreciaton_t + PPE_t))
=(3810 / (3810 + 40369)) / (4468 / (4468 + 45865))
=0.08624 / 0.088769
=0.9715

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI=(SGA_t / Sales_t) / (SGA_t-1 /Sales_t-1)
=(0 / 88677) / (0 / 77263)
=0 / 0
=1

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI=((LTD_t + CurrentLiabilities_t) / TotalAssets_t) / ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
=((1077 + 22906) / 192717) / ((536 + 15434) / 160715)
=0.124447 / 0.099368
=1.2524

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA=(IncomefromContinuingOperations_t - CashFlowsfromOperations_t) / TotalAssets_t
=(NetIncome_t - NonOperatingIncome_t - CashFlowsfromOperations_t) / TotalAssets_t
=(16162 - 0 - 6966) / 192717
=0.047718

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Sakata Seed has a M-score of -2.16 suggests that the company is unlikely to be a manipulator.


Sakata Seed Beneish M-Score Related Terms

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Sakata Seed Business Description

Traded in Other Exchanges
N/A
Address
2-7-1 Nakamachidai, Tsuzuki-ku, Yokohama, Kanagawa, JPN, 224-0041
Sakata Seed Corporation produces and sells multiple flower and vegetable seeds and various gardening materials. The company has locations all over the globe and sells the seeds to distributors and other producers. Gardening materials may be sold through home improvement retailers, mail-order sales, and garden shops. Additionally, Sakata Seed provides miscellaneous activities, such as landscaping, temporary staffing, and other activities associated with cultivating land. It invests in research and development to monitor breeding and develop new seed varieties and has enhanced revenue by entering into contracts to construct greenhouse and agricultural facilities.

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