Friends, Sega has been LYING to you! You know the rings that Sonic picks up and collects so intensely? Have you ever wondered what those are made out of, I think we all would assume their gold right?
Our fair value estimate for Sega Sammy is JPY 2,680 per share, which implies fiscal-year price/earnings of 15 times, an enterprise value/EBITDA multiple of 7 times, and a dividend yield of 2% to our ...