Rasa Corporation (3023) AI Stock Analysis

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Rasa Corporation

(TSE/TYO:3023)

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Rating:73Outperform

Price Target:JPY 2,604.00▲(11.52% Upside)

Action:upgraded

Date:08/17/26

The score is driven primarily by improving profitability and a significantly stronger, lower-leverage balance sheet, partially offset by volatile operating cash flow and historically uneven revenue trends. Technically, the uptrend is strong but looks overbought (RSI/Stoch elevated), which tempers the outlook. Valuation is a clear positive with a low P/E and solid dividend yield.

Positive Factors

Improving profitabilityThe sustained expansion in gross and net margins indicates stronger earnings conversion and improved operating economics. Rising net income alongside margin gains provides greater internal capacity to reinvest, strengthen the business, and absorb moderate changes in demand over the coming quarters.

Negative Factors

Uneven revenue growthThe multi-year revenue declines before the latest recovery show that demand growth has not been consistent. Although margins improved, choppy top-line performance can make capacity planning and investment less predictable and may limit the pace at which earnings can compound.

Rasa Corporation (3023) vs. iShares MSCI Japan ETF (EWJ)

Market Cap: JPY 24.29B
Dividend Yield: 3.60%
Average Volume (3M): 35.08K
Price to Earnings (P/E): 10.2
Beta (1Y): 0.94
Revenue Growth: 8.58%
EPS Growth: 20.43%
Country: Japan
Employees: 262
Sector: Basic Materials
Sector Strength: 61
Industry: Industrial Materials

Rasa Corporation Business Overview & Revenue Model

Company Description

Established in Tokyo, Japan, in 1939, Rasa Corporation operates as a multifaceted trading company with a broad product and service portfolio. Domestically, it is a key supplier of diverse resources, metallic compounds, industrial machinery, and const...

Rasa Corporation Financial Statement Overview

Summary

Overall fundamentals are solid: profitability improved steadily (gross margin ~22.6% to ~26.9%; net margin ~5.8% to ~8.4%) and net income rose (1.54B to 2.38B), supported by a strengthening balance sheet with materially lower leverage (debt-to-equity ~0.32 to ~0.13). The main drag is cash-flow volatility (weak operating cash flow in 2022/2024 and softer OCF in 2026 vs 2025) and uneven revenue momentum (declines in 2023–2025 before returning to growth in 2026).

Income Statement

74Positive

Balance Sheet

82Very Positive

Cash Flow

58Neutral

Financial statement breakdown
Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	29.01B	28.20B	26.57B	27.92B	29.66B	26.73B
Gross Profit	7.73B	7.59B	6.85B	6.62B	7.01B	6.04B
EBITDA	3.34B	3.14B	3.17B	3.09B	3.25B	2.44B
Net Income	2.43B	2.38B	2.08B	2.00B	2.11B	1.54B
Balance Sheet
Total Assets	31.50B	32.95B	33.26B	32.57B	31.92B	31.45B
Cash, Cash Equivalents and Short-Term Investments	5.42B	5.66B	5.73B	4.65B	5.53B	4.68B
Total Debt	2.28B	2.97B	4.04B	4.24B	5.03B	5.69B
Total Liabilities	8.11B	9.52B	11.39B	11.11B	11.82B	13.79B
Stockholders Equity	23.39B	23.43B	21.86B	21.45B	20.10B	17.67B
Cash Flow
Free Cash Flow	0	2.06B	2.80B	660.00M	2.50B	694.00M
Operating Cash Flow	0	2.14B	2.84B	717.00M	2.54B	887.00M
Investing Cash Flow	0	25.00M	140.00M	25.00M	-206.00M	-415.00M
Financing Cash Flow	0	-2.23B	-1.90B	-1.63B	-1.25B	-73.00M

Rasa Corporation Technical Analysis

Technical Analysis SentimentPositive

Last Price2335.00

Price Trends

50DMA2067.38Positive

100DMA1966.77Positive

200DMA1945.96Positive

Market Momentum

MACD60.30Negative

RSI73.05Negative

STOCH89.83Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:3023, the sentiment is Positive. The current price of 2335.00 is above the 20-day moving average (MA) of 2125.75, above the 50-day MA of 2067.38, and above the 200-day MA of 1945.96, indicating a bullish trend. The MACD of 60.30 indicates Negative momentum. The RSI at 73.05 is Negative, neither overbought nor oversold. The STOCH value of 89.83 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:3023.

Rasa Corporation Peers Comparison

Overall Rating

UnderperformOutperform

Sector (61)

Financial Indicators

JP:3023 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
JP:3023	73Outperform	JPY 23.25B	10.18	―	3.60%	8.58%	20.43%
JP:5541	63Neutral	JPY 37.51B	8.94	―	6.42%	6.09%	―
Sector *	61Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
JP:3036	59Neutral	JPY 98.64B	7.36	―	2.94%	32.80%	184.34%
JP:5726	47Neutral	JPY 103.64B	88.97	―	0.77%	-15.15%	-84.26%
JP:5707	43Neutral	JPY 13.89B	2.25	61.43%	―	9.75%	―

* Basic Materials Sector Average

Performance Comparison

JP:3023 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
JP:3023	Rasa Corporation	2335.00	709.17	43.62%
JP:5707	Toho Zinc Co., Ltd.	714.00	17.00	2.44%
JP:3036	ALCONIX Corporation	3270.00	1159.85	54.97%
JP:5541	Pacific Metals Co., Ltd.	2179.00	18.83	0.87%
JP:5726	OSAKA Titanium Technologies Co., Ltd.	2341.00	143.99	6.55%

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 17, 2026

Rasa Corporation AI Stock Analysis