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ASJ Inc.
(2351)
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Rating:59Neutral
Price Target:
¥332.00
▼(-1.48% Downside)
Action:Reiterated
Date:08/21/26
The score is primarily supported by financial resilience—solid balance sheet and positive operating cash flow with a strong 2026 free-cash-flow rebound. It is held back by weakening business momentum (recent revenue contraction and choppy earnings) and a bearish technical setup with the stock trading below key moving averages; valuation is only middling with a modest P/E and low dividend yield.
Positive Factors
Strong balance sheet
A sizable equity base relative to debt provides financial flexibility and reduces balance-sheet risk. Although leverage increased from a low base, manageable debt should help the company fund operations and withstand weaker earnings.
Negative Factors
Recent revenue contraction
Revenue contraction over two consecutive years weakens the company's growth profile and may limit operating leverage. Sustained top-line pressure could make it harder to defend margins, invest in products, and build durable competitive momentum.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong balance sheet
A sizable equity base relative to debt provides financial flexibility and reduces balance-sheet risk. Although leverage increased from a low base, manageable debt should help the company fund operations and withstand weaker earnings.
Read all positive factors
ASJ Inc. (2351) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥2.66B
Dividend Yield0.9%
Average Volume (3M)15.46K
Price to Earnings (P/E)23.6
Beta (1Y)0.23
Revenue Growth3.68%
EPS Growth-53.72%
CountryJP
Employees144
SectorTechnology
Sector Strength88
IndustrySoftware - Infrastructure
Share Statistics
EPS (TTM)14.16
Shares Outstanding7,951,100
10 Day Avg. Volume26,830
30 Day Avg. Volume15,456
Financial Highlights & Ratios
PEG Ratio-0.53
Price to Book (P/B)1.02
Price to Sales (P/S)1.12
P/FCF Ratio6.63
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
ASJ Inc. Business Overview & Revenue Model
Company Description
ASJ Inc. is a Japanese company primarily focused on delivering a broad spectrum of internet services. Its core operations involve establishing and managing server infrastructure for online applications. The company further provides cloud computing...
ASJ Inc. Financial Statement Overview
Summary
Income Statement
54
Neutral
Balance Sheet
74
Positive
Cash Flow
66
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.77B | 2.66B | 2.74B | 2.85B | 2.75B | 2.49B |
| Gross Profit | 1.04B | 1.01B | 1.12B | 1.11B | 1.03B | 886.49M |
| EBITDA | 442.11M | 411.14M | 432.65M | 384.69M | 368.37M | -159.62M |
| Net Income | 110.91M | 88.80M | 246.77M | 112.28M | 62.83M | -484.60M |
Balance Sheet | ||||||
| Total Assets | 4.85B | 4.83B | 4.87B | 4.24B | 4.06B | 3.96B |
| Cash, Cash Equivalents and Short-Term Investments | 1.16B | 1.09B | 989.51M | 862.88M | 928.71M | 838.88M |
| Total Debt | 667.46M | 660.77M | 711.44M | 231.36M | 269.87M | 327.49M |
| Total Liabilities | 1.93B | 1.91B | 1.98B | 1.58B | 1.52B | 1.48B |
| Stockholders Equity | 2.92B | 2.92B | 2.89B | 2.66B | 2.54B | 2.49B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 448.85M | -58.94M | 7.62M | 161.84M | -63.95M |
| Operating Cash Flow | 0.00 | 484.10M | 415.82M | 282.31M | 453.18M | 249.71M |
| Investing Cash Flow | 0.00 | -241.68M | -721.93M | -287.48M | -291.34M | -284.17M |
| Financing Cash Flow | 0.00 | -141.12M | 432.96M | -63.19M | -73.50M | 26.20M |
ASJ Inc. Technical Analysis
Positive
337.00
Price Trends
325.86
Positive
343.93
Negative
336.42
Negative
Market Momentum
2.20
Negative
54.58
Neutral
42.75
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:2351, the sentiment is Positive. The current price of 337 is above the 20-day moving average (MA) of 324.80, above the 50-day MA of 325.86, and above the 200-day MA of 336.42, indicating a neutral trend. The MACD of 2.20 indicates Negative momentum. The RSI at 54.58 is Neutral, neither overbought nor oversold. The STOCH value of 42.75 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:2351.
ASJ Inc. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
88 Outperform | ¥18.53B | 18.38 | ― | 0.91% | 21.28% | 73.53% | |
79 Outperform | ¥32.76B | 20.13 | ― | 1.74% | 12.25% | 25.81% | |
78 Outperform | ¥18.25B | 18.80 | ― | 0.28% | 22.65% | 74.18% | |
67 Neutral | ¥30.66B | 18.06 | ― | ― | 15.26% | 62.04% | |
63 Neutral | ¥19.79B | -48.95 | ― | ― | 17.69% | -175.52% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
59 Neutral | ¥2.66B | 23.59 | ― | 1.05% | 3.68% | -53.72% |
* Technology Sector Average
JP:2351
ASJ Inc.
334.00
-30.09
-8.26%
JP:3741
Systems Engineering Consultants Co., Ltd.
3,235.00
1,091.06
50.89%
JP:3850
NTT Data Intramart Corporation
3,820.00
221.04
6.14%
JP:3915
TerraSky Co., Ltd.
2,392.00
270.79
12.77%
JP:4434
Serverworks Co., Ltd.
2,427.00
441.60
22.24%
JP:4493
Cyber Security Cloud, Inc.
1,760.00
7.85
0.45%
ASJ Inc. Corporate Events
ASJ Inc. Returns to Profit on Higher Revenue and Maintains Stable Equity Base
Aug 14, 2026
ASJ Inc. reported consolidated revenue of ¥683 million for the three months ended June 30, 2026, a 17.8% year-on-year increase, alongside a return to profitability with operating profit of ¥23 million and profit attributable to owners of...
ASJ to Merge Two Wholly-Owned Tech Subsidiaries to Boost Capital Efficiency
Aug 10, 2026
ASJ Inc. has approved an absorption-type merger of its wholly-owned subsidiaries, with ITECS CORPORATION set to absorb eFUSION Co., Ltd. on October 1, 2026, following shareholder approval at eFUSION in mid-September, in a simplified transaction wi...
ASJ Inc. Elevates Tashiro to Senior Managing Director in Business Promotion
Jun 25, 2026
ASJ Inc. announced a board-level personnel change, appointing Hiroyuki Tashiro as Senior Managing Director and General Manager of the Business Promotion Division, effective July 1, 2026. The move elevates Tashiro from his current role as Director ...
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.