| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| 5715 | 6141 | 6103 | 6135 | 6305 | | KOM1 | |
| TSE:5715 | TSE:6141 | TSE:6103 | TSE:6135 | TSE:6305 | | DB:KOM1 | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 1.6% | 2.5% | 1.5% | 1.9% | 6.3% | | 7.2% | |
| 3Y CAGR | 5.6% | 11.6% | 22.7% | 24.5% | 20.0% | | 20.9% | |
| Latest Twelve Months | -3.4% | 0.8% | -7.8% | 2.5% | -0.6% | | 6.0% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 4.2% | 6.8% | 8.4% | 4.5% | 9.2% | | 12.3% | |
| Prior Fiscal Year | 4.2% | 9.7% | 10.9% | 7.7% | 10.7% | | 14.1% | |
| Latest Fiscal Year | 4.5% | 7.1% | 11.1% | 7.3% | 12.0% | | 15.9% | |
| Latest Twelve Months | 4.3% | 7.1% | NA | NA | NA | | 15.5% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 0.42x | 0.65x | 0.44x | 0.93x | 0.88x | | 0.89x | |
| EV / LTM EBIT | 9.7x | 9.1x | 5.4x | 12.3x | 7.5x | | 5.7x | |
| Price / LTM Sales | 0.33x | 0.54x | 0.76x | 1.11x | 0.53x | | 0.85x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 0.42x | 0.65x | 0.93x | | | | | |
| Historical EV / LTM Revenue | 1.04x | 1.37x | 1.64x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 1.00x | 1.05x | 1.10x | | | | | |
| (x) LTM Revenue | 4,027,394 | 4,027,394 | 4,027,394 | | | | | |
| (=) Implied Enterprise Value | 4,021,217 | 4,232,860 | 4,444,503 | | | | | |
| (-) Non-shareholder Claims * | (154,989) | (154,989) | (154,989) | | | | | |
| (=) Equity Value | 3,866,228 | 4,077,871 | 4,289,514 | | | | | |
| (/) Shares Outstanding | 922.8 | 922.8 | 922.8 | | | | | |
| Implied Value Range | 4,189.49 | 4,418.82 | 4,648.16 | | | | | |
| FX Rate: JPY/EUR | 161.0 | 161.0 | 161.0 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 26.02 | 27.44 | 28.87 | | 24.95 | | | |
| Upside / (Downside) | 4.3% | 10.0% | 15.7% | | | | | |