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ASKUL (2678) AI Stock Analysis

JP:2678

ASKUL

(TSE/TYO:2678)

Select Model
Rating:42Neutral
Price Target:JPY 1,150.00â–¼(-0.43% Downside)
Action:reiterated
Date:10/04/26

The score is weighed down primarily by materially weaker financial performance (losses, negative operating/free cash flow, and higher leverage). Technical indicators also point to a downtrend with weak momentum, while valuation provides only limited support due to a negative P/E despite a moderate dividend yield.

Positive Factors
Broad B2B e-commerce modelA broad business-focused assortment addresses recurring workplace purchasing needs across multiple product categories. This supports repeat ordering and reduces reliance on any single merchandise type, while the direct online model can scale customer access and ordering convenience over the medium term.
Negative Factors
Sharp earnings deteriorationThe latest loss represents a material break from the prior multi-year pattern of revenue growth and profitability. Thin historical retail margins provided limited protection against cost pressure, so the earnings reversal weakens near-term earnings quality and makes recovery dependent on restoring operational performance.

ASKUL (2678) vs. iShares MSCI Japan ETF (EWJ)

-30%-20%-10%0%10%20%30%JP:2678-17.33%EWJ+15.87%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
Market Cap
JPY 103.60B
Dividend Yield
2.51%
Average Volume (3M)
379.29K
Price to Earnings (P/E)
-4.5
Beta (1Y)
0.48
Revenue Growth
-19.55%
EPS Growth
-409.17%
Country
Japan
Employees
3,646
Sector
Consumer Cyclical
Sector Strength
61
Industry
Specialty Retail

ASKUL Business Overview & Revenue Model

Company Description

ASKUL Corporation engages in e-commerce business in Japan. The company operates ASKUL, a website for small and medium-sized enterprises, as well as SOLOEL ARENA, a website for mid-tier and larger companies that provides office supplies, living suppli...

How the Company Makes Money

ASKUL primarily makes money by selling goods through its direct-to-customer online ordering platforms, generating revenue when corporate (and certain individual) customers purchase office-related consumables and other everyday products. Its core reve...

ASKUL Financial Statement Overview

Summary

The latest year shows a sharp deterioration: revenue declined (~2.2%), profitability swung to a large loss, operating cash flow turned negative (~-10.8B) and free cash flow fell to ~-19.1B. Balance-sheet risk also rose as debt increased (~70.4B) while equity declined (~47.8B), reducing flexibility after the earnings drop.

Income Statement

34Negative

Balance Sheet

42Neutral

Cash Flow

28Negative
Financial statement breakdown
BreakdownTTMMay 2025May 2024May 2023May 2022May 2021
Income Statement
Total Revenue390.22B400.20B481.10B471.68B446.71B428.52B
Gross Profit84.60B77.19B117.54B117.50B107.04B105.07B
EBITDA-5.62B-4.82B25.19B27.60B21.80B21.00B
Net Income-23.00B-22.15B9.07B19.14B9.79B9.21B
Balance Sheet
Total Assets219.92B229.91B227.78B243.06B227.51B188.33B
Cash, Cash Equivalents and Short-Term Investments44.92B49.33B48.42B61.74B66.22B58.79B
Total Debt64.77B70.35B36.24B36.14B40.79B25.20B
Total Liabilities169.76B178.45B146.52B161.72B160.63B131.06B
Stockholders Equity46.38B47.80B77.79B78.26B64.15B56.76B
Cash Flow
Free Cash Flow-19.05B-19.05B3.63B10.71B13.44B15.06B
Operating Cash Flow-10.80B-10.80B12.91B16.89B20.13B17.95B
Investing Cash Flow-14.08B-14.08B-16.52B-11.47B-21.99B-10.74B
Financing Cash Flow25.08B25.08B-9.70B-9.89B9.29B-14.68B

ASKUL Technical Analysis

Technical Analysis SentimentNegative
Last Price1155.00

Price Trends

50DMA1231.16Negative
100DMA1229.16Negative
200DMA1237.20Negative

Market Momentum

MACD-20.56Positive
RSI38.38Neutral
STOCH16.16Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:2678, the sentiment is Negative. The current price of 1155.00 is below the 20-day moving average (MA) of 1187.55, below the 50-day MA of 1231.16, and below the 200-day MA of 1237.20, indicating a bearish trend. The MACD of -20.56 indicates Positive momentum. The RSI at 38.38 is Neutral, neither overbought nor oversold. The STOCH value of 16.16 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:2678.

ASKUL Peers Comparison

Overall Rating

UnderperformOutperform
Sector (61)

Financial Indicators

JP:2678 against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
JP:9843JP:984380OutperformJPY 1.92T21.649.09%0.92%――
JP:3064JP:306463NeutralJPY 1.10T31.2030.12%1.61%18.76%22.07%
JP:3048JP:304862NeutralJPY 295.29B14.5111.38%2.78%6.84%16.44%
Sector *61Neutral$18.38B12.79-2.54%3.03%1.52%-15.83%
JP:9831JP:983158NeutralJPY 613.09B30.372.50%2.32%6.56%-37.24%
JP:4755JP:475553NeutralJPY 1.37T-21.17-7.11%―10.86%69.63%
JP:2678JP:267842NeutralJPY 103.60B-4.50-43.20%2.51%-19.55%-409.17%

* Consumer Cyclical Sector Average

Performance Comparison

-25%0%25%50%JP:2678JP:4755JP:3048JP:3064JP:9843JP:9831Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
JP:2678 and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
JP:2678ASKUL Corporation1155.00-237.20-17.04%
JP:4755Rakuten628.50-381.00-37.74%
JP:3048BIC Cameras 1725.00205.5313.53%
JP:3064MonotaRO Co 2242.50126.956.00%
JP:9843Nitori Holdings Co 3403.00931.0037.66%
JP:9831Yamada Denki Co733.20284.2063.30%
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: Oct 04, 2026