WIN-Partners Co., Ltd. (3183) AI Stock Analysis

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WIN-Partners Co., Ltd.

(TSE/TYO:3183)

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Rating:71Outperform

Price Target:JPY 1,431.00▲(17.58% Upside)

Action:upgraded

Date:08/17/26

The score is led by solid financial performance—especially the very low leverage and steady revenue growth—tempered by uneven cash-flow history and modest margin erosion. Technical indicators are neutral-to-soft (negative MACD; neutral RSI), while valuation is supportive due to a reasonable P/E and a strong dividend yield.

Positive Factors

Balance sheet strengthExtremely low leverage and sizable equity give WIN-Partners durable financial flexibility. Minimal debt reduces interest burden and supports capital allocation for dividends, investments in distribution, or absorbing shocks, enabling resilience across business cycles.

Negative Factors

Cash-flow volatilityFree cash flow swings and prior negative FCF indicate working-capital or timing sensitivity. Volatile cash conversion reduces predictability of funds for dividends, investment or M&A, and can force reliance on reserves despite reported earnings strength.

WIN-Partners Co., Ltd. (3183) vs. iShares MSCI Japan ETF (EWJ)

Market Cap: JPY 33.47B
Dividend Yield: 4.44%
Average Volume (3M): 26.43K
Price to Earnings (P/E): 16.5
Beta (1Y): 0.65
Revenue Growth: 9.99%
EPS Growth: 0.17%
Country: Japan
Employees: 653
Sector: Healthcare
Sector Strength: 51
Industry: Medical - Distribution

WIN-Partners Co., Ltd. Business Overview & Revenue Model

Company Description

Established in 1973 and headquartered in Tokyo, Japan, WIN-Partners Co., Ltd. leverages its subsidiaries to distribute a comprehensive range of medical devices to healthcare institutions, primarily across Japan. Its diverse product offerings include...

How the Company Makes Money

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WIN-Partners Co., Ltd. Financial Statement Overview

Summary

Strong overall financial quality driven by a very conservative balance sheet (minimal leverage; debt-to-equity ~0.03) and steady revenue growth (~7.7% latest annual). Profitability is stable but not expanding, with modest margin drift down, and cash flow remains the main weakness due to historical volatility despite better 2024–2026 free cash flow (2026 FCF ~92% of net income).

Income Statement

74Positive

Balance Sheet

88Very Positive

Cash Flow

62Positive

Financial statement breakdown
Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	92.28B	90.39B	81.41B	77.06B	70.85B	62.12B
Gross Profit	10.73B	10.66B	9.89B	9.53B	8.66B	7.74B
EBITDA	3.25B	3.32B	3.10B	2.92B	3.11B	2.45B
Net Income	2.04B	2.12B	2.02B	1.84B	2.05B	1.54B
Balance Sheet
Total Assets	49.63B	50.63B	46.65B	47.75B	43.91B	40.21B
Cash, Cash Equivalents and Short-Term Investments	15.00B	15.93B	16.21B	18.16B	16.77B	17.12B
Total Debt	784.33M	713.06M	0	0	0	0
Total Liabilities	27.43B	27.34B	22.58B	24.37B	21.12B	19.07B
Stockholders Equity	22.20B	23.29B	24.07B	23.39B	22.78B	21.14B
Cash Flow
Free Cash Flow	0	2.70B	1.59B	2.54B	-525.17M	673.91M
Operating Cash Flow	0	2.93B	2.06B	3.04B	445.15M	1.85B
Investing Cash Flow	0	-132.31M	-2.17B	-219.47M	1.92B	-1.28B
Financing Cash Flow	0	-3.08B	-1.83B	-1.45B	-1.16B	-947.37M

WIN-Partners Co., Ltd. Technical Analysis

Technical Analysis SentimentNegative

Last Price1217.00

Price Trends

50DMA1253.86Negative

100DMA1259.91Negative

200DMA1286.70Negative

Market Momentum

MACD-9.72Positive

RSI42.59Neutral

STOCH40.78Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:3183, the sentiment is Negative. The current price of 1217.00 is below the 20-day moving average (MA) of 1234.55, below the 50-day MA of 1253.86, and below the 200-day MA of 1286.70, indicating a bearish trend. The MACD of -9.72 indicates Positive momentum. The RSI at 42.59 is Neutral, neither overbought nor oversold. The STOCH value of 40.78 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:3183.

WIN-Partners Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (51)

Financial Indicators

JP:3183 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
JP:3183	71Outperform	JPY 34.94B	16.52	―	4.44%	9.99%	0.17%
JP:7071	64Neutral	JPY 38.05B	12.02	―	1.03%	6.17%	-33.01%
JP:4480	63Neutral	JPY 75.89B	39.69	12.35%	―	24.03%	34.50%
Sector *	51Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
JP:7600	47Neutral	JPY 15.22B	-69.06	―	2.94%	-6.64%	67.08%
JP:7061	46Neutral	JPY 3.90B	11.78	―	5.43%	14.91%	-39.00%

* Healthcare Sector Average

Performance Comparison

JP:3183 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
JP:3183	WIN-Partners Co., Ltd.	1217.00	3.09	0.25%
JP:4480	Medley, Inc.	2386.00	280.00	13.30%
JP:7061	Japan Hospice Holdings Inc.	460.00	-863.95	-65.26%
JP:7071	Amvis Holdings.Inc.	387.00	-131.71	-25.39%
JP:7600	Japan Medical Dynamic Marketing, Inc.	578.00	115.01	24.84%

WIN-Partners Co., Ltd. Corporate Events

WIN-Partners Posts Q1 Profit Decline But Sticks to Growth and Dividend Plans

Aug 4, 2026

WIN-Partners Co., Ltd. reported consolidated net sales of ¥23,970 million for the three months ended June 30, 2026, an 8.5% year-on-year increase, while operating profit fell 15.0% to ¥596 million and profit attributable to owners of parent...

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

WIN-Partners Co., Ltd. AI Stock Analysis

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