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Hard Off Corporation Co., Ltd.
(2674)
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Rating:71Outperform
Price Target:
¥3,075.00
▲(53.52% Upside)
Action:Reiterated
Date:08/17/26
The score is driven primarily by strong financial performance (notably revenue growth and improved operating margins) tempered by increased leverage and uneven cash conversion. Valuation is a clear positive with a modest P/E and a ~3% dividend yield. Technicals are supportive longer-term but show near-term weakness with the price below the 20-day average and neutral momentum readings.
Positive Factors
Strong Revenue Growth
The sustained revenue expansion indicates growing customer demand and effective scaling of the recommerce store network. Continued growth broadens the company’s purchasing base, supports inventory availability, and strengthens its ability to spread fixed operating costs.
Negative Factors
Sharp Increase in Debt
The rapid rise in borrowings reduces financial flexibility and increases exposure to funding costs, even though overall leverage remains moderate. Sustained debt growth could constrain store expansion or shareholder returns if profitability weakens.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Revenue Growth
The sustained revenue expansion indicates growing customer demand and effective scaling of the recommerce store network. Continued growth broadens the company’s purchasing base, supports inventory availability, and strengthens its ability to spread fixed operating costs.
Read all positive factors
Hard Off Corporation Co., Ltd. (2674) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥37.48B
Dividend Yield3.18%
Average Volume (3M)26.12K
Price to Earnings (P/E)10.8
Beta (1Y)0.43
Revenue Growth23.51%
EPS Growth56.52%
CountryJP
Employees1,040
SectorConsumer Cyclical
Sector Strength84
IndustrySpecialty Retail
Share Statistics
EPS (TTM)246.75
Shares Outstanding13,954,000
10 Day Avg. Volume23,860
30 Day Avg. Volume26,123
Financial Highlights & Ratios
PEG Ratio1.22
Price to Book (P/B)1.34
Price to Sales (P/S)0.69
P/FCF Ratio22.79
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
Hard Off Corporation Co., Ltd. Business Overview & Revenue Model
Company Description
Hard Off Corporation Co.,Ltd. operates reuse shops in Japan. It operates through Reuse Business and FC Business segments. The company’s shops offer TVs, audio and video products, computers, games, watches, cameras, smartphones, tablets, sets and p...
How the Company Makes Money
Hard Off primarily makes money by purchasing used goods from consumers (and other supply channels) and reselling them at a markup through its network of secondhand stores. The core revenue stream is in-store retail sales of pre-owned merchandise; ...
Hard Off Corporation Co., Ltd. Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
74
Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 41.87B | 39.28B | 33.53B | 30.11B | 27.04B | 24.51B |
| Gross Profit | 28.44B | 26.72B | 23.00B | 20.66B | 18.59B | 16.84B |
| EBITDA | 4.87B | 4.70B | 4.11B | 3.59B | 3.01B | 2.14B |
| Net Income | 3.43B | 2.52B | 2.31B | 2.09B | 1.65B | 1.04B |
Balance Sheet | ||||||
| Total Assets | 32.03B | 31.60B | 26.39B | 23.79B | 21.27B | 19.05B |
| Cash, Cash Equivalents and Short-Term Investments | 3.77B | 3.31B | 3.01B | 3.02B | 2.91B | 2.60B |
| Total Debt | 6.60B | 6.35B | 3.18B | 2.43B | 2.15B | 2.25B |
| Total Liabilities | 12.04B | 11.27B | 8.02B | 6.79B | 5.92B | 5.30B |
| Stockholders Equity | 19.88B | 20.22B | 18.27B | 16.90B | 15.28B | 13.69B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 1.19B | 822.66M | 737.75M | 1.13B | 963.62M |
| Operating Cash Flow | 0.00 | 2.47B | 2.14B | 1.87B | 1.77B | 1.48B |
| Investing Cash Flow | 0.00 | -2.71B | -1.84B | -1.20B | -820.75M | -219.54M |
| Financing Cash Flow | 0.00 | 521.42M | -334.41M | -587.97M | -714.03M | -899.69M |
Hard Off Corporation Co., Ltd. Technical Analysis
Neutral
2003.00
Price Trends
2735.62
Negative
2486.19
Positive
2198.96
Positive
Market Momentum
-19.53
Positive
42.77
Neutral
21.97
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:2674, the sentiment is Neutral. The current price of 2003 is below the 20-day moving average (MA) of 2801.20, below the 50-day MA of 2735.62, and below the 200-day MA of 2198.96, indicating a neutral trend. The MACD of -19.53 indicates Positive momentum. The RSI at 42.77 is Neutral, neither overbought nor oversold. The STOCH value of 21.97 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for JP:2674.
Hard Off Corporation Co., Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | ¥52.04B | 14.82 | ― | 2.19% | 15.56% | 21.99% | |
72 Outperform | ¥22.50B | 18.47 | ― | 3.53% | 0.66% | -1.96% | |
71 Outperform | ¥37.48B | 10.83 | ― | 3.77% | 23.51% | 56.52% | |
68 Neutral | ¥52.99B | 19.18 | ― | 1.32% | 9.16% | 47.03% | |
62 Neutral | ¥201.40B | 23.87 | ― | 0.64% | 57.65% | 100.02% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
51 Neutral | ¥28.56B | 7.78 | ― | 0.95% | 22.26% | ― |
* Consumer Cyclical Sector Average
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Hard Off Corporation Co., Ltd. Corporate Events
Hard Off Reports Strong Year-on-Year Sales Growth at Directly Operated Reuse Stores
Aug 10, 2026
Hard Off Corporation Co., Ltd., a Prime Market-listed Japanese reuse retailer, operates a multi-brand portfolio of secondhand chains including HARD OFF, OFF HOUSE, Hobby OFF, Liquor OFF, BOOK OFF, MODE OFF and Garage OFF. The group, together with ...
Hard Off Delivers Record 1Q Results and Expands Secondhand Store Network
Aug 6, 2026
Hard Off Corporation reported record first-quarter consolidated results for the fiscal year ending March 2027, with net sales up 30 percent to ¥11.25 billion and profits at all levels reaching new highs. Growth was driven by an 8.9 percent in...
Hard Off Delivers Profit Surge and Plans Higher Dividend for FY2027
Aug 6, 2026
Hard Off Corporation reported strong consolidated results for the first quarter of the fiscal year ending March 2027, with net sales rising 30.0% year on year to ¥11,251 million and operating profit up 34.4% to ¥1,058 million, while quar...
Hard Off Posts Strong Year‑on‑Year Sales and Expands Reuse Store Network
Jul 10, 2026
Hard Off Corporation reported monthly year‑on‑year sales data for its directly operated stores, covering its various reuse-focused chains and consolidated subsidiaries EcoPlus and Econos, alongside updated store counts by brand and for...
Hard Off Releases Monthly Sales and Store Count Data for Fiscal 2026-27
Jun 10, 2026
Hard Off Corporation reported monthly year-on-year sales data for its directly operated stores for the fiscal year ending March 31, 2027, covering domestic and overseas operations across its various OFF-branded formats. The disclosure also detaile...
Hard Off Discloses Parent Yamamoto Asset’s Fiscal 2026 Balance Sheet
May 29, 2026
Hard Off has disclosed that its parent company, Yamamoto Asset Co., Ltd., has finalized financial results for the fiscal year ended February 2026, providing an updated picture of the balance sheet and capital structure at the top of the group. Yam...
Hard Off Clarifies Relationship With Controlling Shareholder Yamamoto Asset
May 29, 2026
Hard Off Corporation has disclosed that Yamamoto Asset Co., Ltd. is an affiliated company and its controlling shareholder, holding 33.60% of the company’s voting rights as of March 31, 2026. Despite this significant stake and the fact that o...
Hard Off Renews Takeover Defense Policy to Protect Corporate Value
May 25, 2026
Hard Off Corporation has decided to renew its takeover response policy, originally introduced in 2008, subject to shareholder approval at the upcoming 54th annual general meeting. The plan is designed to prevent control of the company’s fina...
Hard Off Raises Year-End Dividend, Reaffirming Stable Shareholder Return Policy
May 25, 2026
Hard Off Corporation has approved a year-end dividend of ¥85 per share for the fiscal year ended March 31, 2026, with a total payout of ¥1,182 million, up from ¥78 per share in the previous year. The dividend, with an effective date...
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.