Astro Japan Property Group (AJA)



Welcome to InvestSMART

You are currently viewing our site as a guest, which gives you limited access to our site features. By signing up for a free membership, you will receive our Investment Opportunity newsletters and have access to additional features for finding and comparing managed funds and shares. Registration is fast and simple, so please:

Sign Up Today Ľ it's FREE! Already a member? Login now!


General Information
Company Name: Astro Japan Property Group
Stock Code: AJA
Website: www.astrojapanproperty.com
GICS Sub-Industry: Diversified Real Estate Investment Trusts
Market Cap ($M): 314
Equiv. Shares (M): 67

Current Price Data+
Current Price Open High Low Last Close Volume Price Movement
 $ 4.680 $ 4.700 $ 4.700 $ 4.680 $ 4.670 1,045 $ 0.010  0.214 %

Company Overview

Business Description:
Astro Japan Property Group (AJA) is a diversified property trust focused on investing in the Japanese real estate market. The portfolio includes 34 retail, office and residential properties located primarily in Tokyo. AJA is a stapled entity comprising Astro Japan Property Trust and Astro Japan Property Group Limited. The Spring Investment Co. Ltd undertakes asset management services within Japan.

Strategy Analysis:
Key strategy for management is generating sustainable earnings growth through active asset management and prudent capital management. With no short-term financing risk, a well located, diversified property portfolio, the Company is well positioned to capitalize on future opportunities as they arise. Astro Japan Property Group reported NPAT of $799,000 for the half-year ended 31 December 2012. Revenue from ordinary activities were $52.13m, down 8.4% from last year. Basic and Diluted EPS were 0.41 cents compared to (29.65) cents last year. Net operating cash flow was $7.37m compared to $18.52m last year. The interim dividend declared was 7.5 cents, compared with 10 cents last year.


Financial Summary
Year to Jun NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2014  A 282.6 417.9 NaN 0.9 20.0 5.5 --
2013  A 13.2 20.8 -- 15.6 17.5 5.4 --
2012  A -44.2 -75.7 -- 0.0 15.0 6.3 --
Source: Aspect actuals / Thomson IBES estimates

Peer Comparison
EPS Growth (%) P/E (%) Dividend Yield (%)
Company Mkt Cap 2012 A 2013 F 2014 F 2012 A 2013 F 2014 F 2012 A 2013 F 2014 F
Astro Japan Property Group (AJA) $312 M 19.1300 -- -- 1.1127 -- -- 4.30 -- --
Dexus Property (DXS) $6,366 M -0.2674 0.0766 0.0146 14.7225 13.6744 13.4778 5.34 5.80 6.08
Goodman Gp (GMG) $9,949 M 0.0702 0.0752 0.0599 16.6229 15.4597 14.5855 3.63 3.92 4.21
Investa Office Fund (IOF) $2,235 M 0.4908 -0.3066 0.0335 10.8559 15.6559 15.1477 5.08 5.25 5.47
Novion Property (NVN) $6,619 M -0.0071 0.1070 0.0233 17.4578 15.7703 15.4119 6.27 6.35 6.45

Market Comparison
Earnings P/E Ratio P/B Ratio P/E Growth
AJA -- 1.12 0.78 --
Market 0.90 15.0 1.19 1.94
Sector 1.52 14.0 1.14 3.26

Directors
Name Position Start Date
Mr John Lester Pettigrew Chief Financial Officer,Executive Director,Joint Company Secretary 19 February 2005
Mr Fergus Allan McDonald Non-Executive Chairman 19 February 2005
Mr Douglas Mortimer Clemson Non-Executive Director 31 December 2011
Ms Kathryn (Kate) Jane McCann Non-Executive Director 31 December 2011

Management
Name Position
Rohan Purdy General Counsel,Company Secretary

Substantial Shareholders
Holding Name
3,413,314 (5.08%) Resolution Capital Limited
4,783,395 (7.12%) Commonwealth Bank of Australia
6,205,142 (9.23%) Principal Financial Group Ltd
4,552,701 (6.77%) Renaissance Property Securities Pty Ltd
4,158,813 (6.19%) Eric Lucas
4,867,783 (7.24%) APN Funds Management Limited
2,591,574 (5.10%) Vanguard Investments Australia Ltd

Calendar of Events
Date Event
22 September 2015 Report (Annual)
26 August 2015 Report (Prelim)
27 February 2015 Div Pay Date
19 February 2015 Report (Interim)
31 December 2014 Books Close
29 December 2014 Div Ex Date
© 2011 Morningstar, Inc. All rights reserved. The data and content contained herein are not guaranteed to be accurate, complete or timely. Neither Morningstar, nor its affiliates nor their content providers will have any liability for use or distribution of any of this information. To the extent that any of the content above constitutes advice, it is general advice that has been prepared by Morningstar Australasia Pty Ltd ABN: 95 090 665 544, AFSL: 240892 (a subsidiary of Morningstar, Inc.), without reference to your objectives, financial situation or needs. Before acting on any advice, you should consider the appropriateness of the advice and we recommend you obtain financial, legal and taxation advice before making any financial investment decision. If applicable investors should obtain the relevant product disclosure statement and consider it before making any decision to invest. Some material is copyright and published under licence from ASX Operations Pty Limited ACN 004 523 782 ("ASXO"). DISCLOSURE: Employees may have an interest in the securities discussed in this report. Please refer to our Financial Services Guide (FSG) for more information at www.morningstar.com.au/fsg.asp.

Advertisement

Trade Shares Online from $19.95^
Free Guides

The SMH Guide to Investing in Art

An educational booklet with useful, practical tips to help you make better-informed decisions about investing in art.

More details...

News

Markets melt up

By Michael McCarthy (chief market strategist, CMC Markets) 19/12/2014 | Traders and investors caught short heading into the FOMC scrambled for cover in Europe and the US, in many cases driving indices to their best one day performance for 2015.

Aussie Investors take their foot off the accelerator

By Betty Lam (Sales Trader, CMC Markets) 18/12/2014 | Lead by the Fed-fervour offshore, Australians shares jumped on the Yellen cheer wagon. The material and energy stocks were back in vogue as both sectors gained over 3% in morning trade.

Fed Feeds Frenzy

By Michael McCarthy (chief market strategist, CMC Markets) 18/12/2014 | In spite of a frenzied pre-mortem, a benign statement from the US Federal Reserve‚Äôs Open Market Committee and steadying commodity markets drove investors back into share markets overnight. A calmer, stronger ruble helped offset European growth fears, highlighted in the overnight session by further declines in inflation.

Household brands Woolworths and Telstra Heavy Lifting

By Betty Lam (Sales Trader, CMC Markets) 11/12/2014 | Offshore jitters sent ripples through to Australian stocks. The open saw the local equities take 65 points off the index, catalysed by a mass-exit in energy stocks, yet again.

Steady open as Woodside investors wait on details of possible Wheatstone acquisition

By Ric Spooner (Chief Market Analyst, CMC Markets) 10/12/2014 | Yesterday‚Äôs news on Greek politics and China‚Äôs bond market came at a time when US and European stock markets have extended rallies and pushed valuations higher. This makes those markets vulnerable to downward corrections as profit takers act to avoid missing out.

MYEFO and Lima - December could be nasty.

BR Securities Australia Pty Ltd 2/12/2014 | December 2014 could go down as a nasty moment in Australian finance. MYEFO will reveal a deteriorating budget deficit and the UNFCCC meeting in Lima, Peru will provide the agreement, to be ratified in Paris in 2015, on how much (or little) CO2 is to be allowed into the atmosphere from 2020.

More...


Sponsored Links