Ajinomoto

Date announced 23/11/2020
Quarter 30/09/2010 Qtr 2 FYE 31/03/2011

STOCK Ajinomoto C0DE 2658

Price $ 4.22 Curr. ttm-PE 10.26 Curr. DY 4.27%
LFY Div 18.00 DPO ratio 46%
ROE 12.0% PBT Margin 9.2% PAT Margin 6.9%

Rec. qRev 77686 q-q % chg -5% y-y% chq 13%
Rec qPbt 7129 q-q % chg -38% y-y% chq -6%
Rec. qEps 8.85 q-q % chg -38% y-y% chq -10%
ttm-Eps 41.15 q-q % chg -2% y-y% chq 23%

Using VERY CONSERVATIVE ESTIMATES:
EPS GR 5% Avg.H PE 10.00 Avg. L PE 6.00
Forecast High Pr 5.25 Forecast Low Pr 3.29 Recent Severe Low Pr 3.29
Current price is at Middle 1/3 of valuation zone.

RISK: Upside 53% Downside 47%
One Year Appreciation Potential 5% Avg. yield 6%
Avg. Total Annual Potential Return (over next 5 years) 11%

CPE/SPE 1.28 P/NTA 1.23 NTA 3.43 SPE 8.00 Rational Pr 3.29



Decision:
Already Owned: Buy, Hold, Sell, Filed; Review (future acq): Filed; Discard: Filed.
Guide: Valuation zones - Lower 1/3 Buy; Mid. 1/3 Maybe; Upper 1/3 Sell.

Aim:
To Buy a bargain: Buy at Lower 1/3 of Valuation Zone
To Minimise risk of Loss: Buy when risk is low i.e UPSIDE GAIN > 75% OR DOWNSIDE RISK <25%
To Double every 5 years: Seek for POTENTIAL RETURN of > 15%/yr.
To Prevent Loss: Sell immediately when fundamentals deteriorate
To Maximise Gain & Reduce Loss: Sell when CPE/SPE > 1.5, when in Upper 1/3 of Valuation Zone & Returns < 15%/yr


Stock Data:
Current Price (11/19/2010): 4.26
(Figures in Malaysian Ringgits)

Recent Stock Performance:
1 Week -2.7% 13 Weeks 5.2%
4 Weeks 2.9% 52 Weeks 31.9%

Ajinomoto (Malaysia) Berhad Key Data:
Ticker: AJI Country: MALAYSIA
Exchanges: AMN Major Industry: Food & Beverages
Sub Industry: Miscellaneous Food

2010 Sales 284,616,880
(Year Ending Jan 2011).
 Employees: 380

Currency: Malaysian Ringgits Market Cap: 259,003,740
Fiscal Yr Ends: March Shares Outstanding: 60,799,000
Share Type: Ordinary Closely Held Shares: 34,430,813

Day's Range: 4.22 - 4.30
52wk Range: 3.18 - 4.97
Volume: 76,400
Avg Vol (3m): 63,365