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Hulic Co (3003) AI Stock Analysis

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JP:3003

Hulic Co

(TSE/TYO:3003)

Select Model
Rating:68Neutral
Price Target:JPY 1,867.00â–²(0.92% Upside)
Action:downgraded
Date:08/06/26

Driven by strong revenue and profit growth in financials, offset by high debt and negative free cash flow; attractive valuation supports the score, while technicals show downtrend with rebound potential.

Positive Factors
Recurring rental income in major metropolitan areasHulic's core business is leasing and operating office and urban properties concentrated in major Japanese metros, creating stable, recurring rental income. That business model produces predictable cash flow and demand resilience from diversified tenancy, supporting medium-term earnings stability and asset value retention.
Negative Factors
High and rising leverageLeverage increased materially, with debt-to-equity roughly 2.4x. Elevated debt amplifies interest expense sensitivity and refinancing risk, reducing strategic flexibility. If financing conditions tighten or rates rise further, the company could face higher funding costs and constrained ability to pursue opportunistic acquisitions or redevelopment.

Hulic Co (3003) vs. iShares MSCI Japan ETF (EWJ)

-5%0%5%10%15%20%25%30%35%JP:3003+18.90%EWJ+16.41%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
Market Cap
JPY 6.96B
Dividend Yield
3.62%
Average Volume (3M)
2.40M
Price to Earnings (P/E)
11.6
Beta (1Y)
0.42
Revenue Growth
25.27%
EPS Growth
13.85%
Country
Japan
Employees
3,495
Sector
Real Estate
Sector Strength
65
Industry
Real Estate - Development

Hulic Co Business Overview & Revenue Model

Company Description

Hulic Co., Ltd. is a Japanese enterprise primarily focused on the real estate sector, where it handles the development, leasing, sale, and intermediation of various properties throughout Japan. Its business activities are organized across three key d...

How the Company Makes Money

Hulic’s earnings are primarily generated from its real estate operations. Key revenue streams generally include: (1) rental income from leasing office and other commercial space in properties it owns (typically the core, recurring revenue driver), (2...

Hulic Co Financial Statement Overview

Summary

Strong income statement with revenue and profit growth, but mixed balance sheet due to high debt and weak cash flow with negative free cash flow.

Income Statement

85Very Positive

Balance Sheet

65Positive

Cash Flow

55Neutral
Financial statement breakdown
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue843.96B727.45B591.62B446.38B523.42B447.08B
Gross Profit297.64B276.80B230.93B196.51B172.57B155.41B
EBITDA230.67B213.01B183.25B165.26B144.53B131.81B
Net Income119.42B114.33B102.34B94.63B79.15B69.56B
Balance Sheet
Total Assets3.59T3.51T3.05T2.48T2.32T2.21T
Cash, Cash Equivalents and Short-Term Investments265.75B209.36B144.20B82.88B138.40B206.21B
Total Debt2.28T2.21T1.88T1.45T1.45T1.40T
Total Liabilities2.61T2.57T2.19T1.71T1.63T1.57T
Stockholders Equity947.51B913.36B833.07B765.66B686.73B637.80B
Cash Flow
Free Cash Flow0-157.01B-11.32B13.58B-25.00B77.34B
Operating Cash Flow0269.24B353.39B270.82B266.11B289.02B
Investing Cash Flow0-542.50B-602.02B-295.20B-345.33B-286.84B
Financing Cash Flow0270.27B300.59B-31.15B11.44B106.49B

Hulic Co Technical Analysis

Technical Analysis SentimentPositive
Last Price1850.00

Price Trends

50DMA1743.41Positive
100DMA1739.24Positive
200DMA1775.71Positive

Market Momentum

MACD21.86Negative
RSI68.36Neutral
STOCH83.29Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:3003, the sentiment is Positive. The current price of 1850.00 is above the 20-day moving average (MA) of 1726.73, above the 50-day MA of 1743.41, and above the 200-day MA of 1775.71, indicating a bullish trend. The MACD of 21.86 indicates Negative momentum. The RSI at 68.36 is Neutral, neither overbought nor oversold. The STOCH value of 83.29 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:3003.

Hulic Co Peers Comparison

Overall Rating

UnderperformOutperform
Sector (65)

Financial Indicators

JP:3003 against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
JP:8934JP:893472OutperformJPY 128.05B7.1713.50%3.49%3.39%-6.00%
JP:8804JP:880468NeutralJPY 684.59B11.2010.53%3.58%16.54%13.29%
JP:3003JP:300368NeutralJPY 1.41T11.6313.24%3.62%25.27%13.85%
Sector *65Neutral$2.17B12.193.79%4.94%3.15%1.96%
JP:3231JP:323161NeutralJPY 814.36B9.769.96%4.95%19.27%24.60%
JP:8830JP:883057NeutralJPY 2.99T13.559.18%1.51%5.41%19.07%
JP:2337JP:233755NeutralJPY 168.88B10.6614.46%2.69%-17.00%-4.99%

* Real Estate Sector Average

Performance Comparison

0%20%40%60%JP:3003JP:2337JP:3231JP:8934JP:8830JP:8804Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
JP:3003 and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
JP:3003Hulic Co 1850.00307.5519.94%
JP:2337Ichigo 428.0069.8419.50%
JP:3231Nomura Real Estate Holdings889.6055.756.69%
JP:8934Sun Frontier Fudousan Co 2238.0050.872.33%
JP:8830Sumitomo Realty & Development Co 3235.00-42.44-1.29%
JP:8804Tokyo Tatemono Co 3296.00488.5717.40%

Hulic Co Corporate Events

Hulic to Secure 22.77% Voting Stake in Nakabohtec Through Off-Market Share Deal and Buyback

Aug 3, 2026

Hulic Co., Ltd., a Tokyo-based real estate and asset management company listed on the Prime Market, is expanding its investment footprint through significant stakes in other listed firms. The group leverages financial transactions to build strategic...

Hulic to Consolidate New Real Estate Investment Subsidiary Hugo2A LLC

Jul 31, 2026

Hulic has resolved to make a silent partnership investment of up to ¥8.74 billion in a vehicle operated by Hugo2A LLC, a newly established Tokyo-based entity engaged in real estate, financial business and related investment activities. The plann...

Hulic boosts interim profit and dividend as assets expand

Jul 28, 2026

Hulic Co., Ltd. reported strong interim results for the six months ended June 30, 2026, with operating revenue rising 38.8% year on year to ¥416.6 billion and profit attributable to owners of the parent increasing 11.3% to ¥50.0 billion. Ea...

Hulic Renames Real Estate Subsidiary to Nexray to Boost Group Synergies

Jun 26, 2026

Hulic Co., Ltd. is a Japanese real estate company listed on the Tokyo Stock Exchange Prime Market, focusing on property-related businesses through its group companies. Its consolidated subsidiary Raysum Co., Ltd., based in Tokyo, engages in the purch...

Hulic Sets Price for ¥28.7 Billion International Secondary Share Offering

May 21, 2026

Hulic Co., Ltd., a major Japanese real estate operator listed on the Prime Market, has announced pricing details for a secondary offering of its common stock in international markets. The company’s move reflects ongoing efforts to tap global ca...

Hulic Launches International Secondary Share Offering to Boost Liquidity and Global Investor Base

May 21, 2026

Hulic Co., Ltd. has approved an international secondary offering of 17,392,100 shares of its common stock, to be sold by existing shareholders including Oki Electric Industry, Yasuda Logistics, Aomori Michinoku Bank and Katakura Industries. The sale,...

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: Aug 06, 2026