Matsui Construction Co., Ltd. (1810) AI Stock Analysis

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Matsui Construction Co., Ltd.

(TSE/TYO:1810)

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Rating:74Outperform

Price Target:JPY 1,910.00▲(8.77% Upside)

Action:reiterated

Date:11/12/26

The overall score of 74 reflects a company with a strong, debt-free balance sheet and attractive valuation. The primary strengths are the high dividend yield and low P/E ratio, supported by improving profit margins. The main risk is the overbought technical condition, which could lead to short-term price consolidation despite the positive long-term fundamentals.

Positive Factors

Debt-free balance sheetDebt reaching zero and steadily compounding equity give Matsui Construction substantial financial resilience. A conservative balance sheet lowers interest and refinancing pressure, preserves capacity to fund projects, and provides flexibility to withstand construction-cycle volatility over coming quarters.

Negative Factors

Revenue contraction and volatilityThe latest revenue decline shows that improved profitability has not yet translated into consistent top-line expansion. Uneven project awards or completion timing can make the earnings base less predictable, limiting visibility into sustained growth over the next several quarters.

Matsui Construction Co., Ltd. (1810) vs. iShares MSCI Japan ETF (EWJ)

Market Cap: JPY 50.08B
Dividend Yield: 4.95%
Average Volume (3M): 47.15K
Price to Earnings (P/E): 9.9
Beta (1Y): 1.16
Revenue Growth: -4.88%
EPS Growth: 22.63%
Country: Japan
Employees: 771
Sector: Industrials
Sector Strength: 63
Industry: Engineering & Construction

Matsui Construction Co., Ltd. Business Overview & Revenue Model

Company Description

Matsui Construction Co., Ltd. is a Japanese firm primarily involved in civil engineering, architectural design, project supervision, and general construction. Its portfolio includes a wide array of projects, from sacred sites like shrines and temples...

Matsui Construction Co., Ltd. Financial Statement Overview

Summary

Financial performance is solid, driven by a debt-free balance sheet and improving profitability. Net margin expanded to 4.5% in FY2026, and the company has strong financial flexibility. However, uneven revenue growth and historical cash flow volatility temper the score.

Income Statement

75Positive

Balance Sheet

85Very Positive

Cash Flow

65Positive

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	93.74B	96.04B	99.25B	96.97B	88.66B	82.47B
Gross Profit	11.12B	10.90B	7.53B	4.71B	6.59B	6.60B
EBITDA	6.92B	6.96B	4.44B	2.21B	3.08B	3.35B
Net Income	4.57B	4.35B	2.73B	1.16B	1.70B	1.79B
Balance Sheet
Total Assets	90.10B	87.64B	81.42B	78.61B	72.38B	69.92B
Cash, Cash Equivalents and Short-Term Investments	21.88B	17.00B	13.46B	9.29B	21.50B	15.90B
Total Debt	5.98B	157.00M	3.17B	5.18B	209.00M	229.00M
Total Liabilities	32.44B	30.61B	30.80B	30.99B	28.21B	27.03B
Stockholders Equity	57.66B	57.03B	50.62B	47.62B	44.17B	42.88B
Cash Flow
Free Cash Flow	0	8.45B	6.99B	-16.83B	6.61B	-2.66B
Operating Cash Flow	0	9.22B	7.62B	-16.19B	7.18B	-20.00M
Investing Cash Flow	0	-669.00M	-177.00M	-18.00M	-543.00M	-2.34B
Financing Cash Flow	0	-5.06B	-3.07B	3.80B	-923.00M	-1.40B

Matsui Construction Co., Ltd. Technical Analysis

Technical Analysis SentimentPositive

Last Price1756.00

Price Trends

50DMA1426.99Positive

100DMA1411.76Positive

200DMA1463.53Positive

Market Momentum

MACD59.98Negative

RSI79.25Negative

STOCH92.29Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:1810, the sentiment is Positive. The current price of 1756.00 is above the 20-day moving average (MA) of 1448.10, above the 50-day MA of 1426.99, and above the 200-day MA of 1463.53, indicating a bullish trend. The MACD of 59.98 indicates Negative momentum. The RSI at 79.25 is Negative, neither overbought nor oversold. The STOCH value of 92.29 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:1810.

Matsui Construction Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (63)

Financial Indicators

JP:1810 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
JP:1827	79Outperform	JPY 48.80B	9.64	―	2.68%	35.61%	99.85%
JP:1967	78Outperform	JPY 49.65B	10.31	―	2.71%	-4.08%	10.62%
JP:1929	77Outperform	JPY 48.90B	10.86	―	4.19%	14.74%	34.06%
JP:1810	74Outperform	JPY 53.59B	9.93	―	4.95%	-4.88%	22.63%
JP:256A	72Outperform	JPY 45.31B	9.72	―	4.42%	-0.57%	7.59%
JP:1930	68Neutral	JPY 40.62B	7.65	11.31%	3.45%	20.84%	68.55%
Sector *	63Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%

* Industrials Sector Average

Performance Comparison

JP:1810 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
JP:1810	Matsui Construction Co., Ltd.	1756.00	376.81	27.32%
JP:1930	Hokuriku Electrical Construction Co	1451.00	134.36	10.20%
JP:1827	Nakano Corporation	1420.00	443.04	45.35%
JP:1929	Nittoc Construction Co., Ltd.	1170.00	7.00	0.60%
JP:1967	Yamato Corporation	2218.00	394.04	21.60%
JP:256A	Tobishima Holdings, Inc.	2378.00	361.58	17.93%

Matsui Construction Co., Ltd. Corporate Events

Matsui Construction Reports Six-Month Results; Profit Rises

Nov 11, 2026

Matsui Construction reported consolidated net sales of ¥45,123 million for the six months ended September 30, 2026, down 2.5% from a year earlier, while operating profit rose 32.7% to ¥3,418 million, ordinary profit increased 32.7% to ¥3,816 million,...

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Nov 12, 2026

Matsui Construction Co., Ltd. AI Stock Analysis