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WILLPLUS Holdings Corp.
(3538)
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Rating:53Neutral
Price Target:
¥1,039.00
▼(-0.19% Downside)
Action:Downgraded
Date:08/19/26
The score is held back primarily by weakening margins, rising leverage, and inconsistent/negative free cash flow, which increase financial risk despite improving revenue growth. Technicals are supportive but overbought, while valuation is a clear positive due to the low P/E and strong dividend yield.
Positive Factors
Revenue growth re-accelerated
The return to stronger sales growth indicates improving demand or execution across the dealership network. Sustained top-line expansion can support fixed-cost absorption and create a foundation for recovery if margins stabilize.
Negative Factors
Material margin compression
Profitability has weakened despite renewed revenue growth, suggesting higher costs, pricing pressure, or less favorable mix. Thin margins leave limited protection against vehicle-market volatility and could constrain reinvestment and earnings recovery.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue growth re-accelerated
The return to stronger sales growth indicates improving demand or execution across the dealership network. Sustained top-line expansion can support fixed-cost absorption and create a foundation for recovery if margins stabilize.
Read all positive factors
WILLPLUS Holdings Corp. (3538) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥10.30B
Dividend Yield4.47%
Average Volume (3M)17.23K
Price to Earnings (P/E)8.4
Beta (1Y)0.57
Revenue Growth9.28%
EPS Growth-23.02%
CountryJP
Employees759
SectorGeneral
Sector StrengthN/A
IndustryAuto - Dealerships
Share Statistics
EPS (TTM)125.06
Shares Outstanding10,358,400
10 Day Avg. Volume12,870
30 Day Avg. Volume17,233
Financial Highlights & Ratios
PEG Ratio-0.32
Price to Book (P/B)0.69
Price to Sales (P/S)0.08
P/FCF Ratio-9.04
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)211.3
Revenue Forecast (FY)¥104.30B
WILLPLUS Holdings Corp. Business Overview & Revenue Model
Company Description
WILLPLUS Holdings Corp. (3538) is a Japan-based company whose core business is automotive retail, primarily operating as an authorized dealer network for imported (foreign) car brands. The group provides new and used vehicle sales and related afte...
How the Company Makes Money
WILLPLUS Holdings makes money mainly through its dealership operations. Key revenue streams generally include (1) new vehicle sales: revenue from selling new cars as an authorized dealer for imported brands, with earnings influenced by sales volum...
WILLPLUS Holdings Corp. Financial Statement Overview
Summary
Income Statement
52
Neutral
Balance Sheet
43
Neutral
Cash Flow
34
Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 90.21B | 96.84B | 88.61B | 47.75B | 44.12B | 39.70B |
| Gross Profit | 12.69B | 13.14B | 12.43B | 9.36B | 8.62B | 8.44B |
| EBITDA | 3.42B | 3.67B | 4.04B | 3.31B | 3.29B | 3.58B |
| Net Income | 1.14B | 1.11B | 1.44B | 1.12B | 1.30B | 1.55B |
Balance Sheet | ||||||
| Total Assets | 41.38B | 43.94B | 37.41B | 32.33B | 23.75B | 18.73B |
| Cash, Cash Equivalents and Short-Term Investments | 7.20B | 10.48B | 8.25B | 7.51B | 4.29B | 5.54B |
| Total Debt | 19.49B | 21.55B | 16.56B | 13.21B | 9.78B | 4.62B |
| Total Liabilities | 28.77B | 31.04B | 25.21B | 21.26B | 14.00B | 9.90B |
| Stockholders Equity | 11.44B | 11.73B | 10.84B | 9.82B | 9.75B | 8.83B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -894.74M | -1.62B | 2.06B | -2.62B | 1.72B |
| Operating Cash Flow | 0.00 | 773.89M | -1.30B | 2.51B | -2.27B | 1.91B |
| Investing Cash Flow | 0.00 | -3.02B | -545.04M | -3.86B | -412.04M | -218.00M |
| Financing Cash Flow | 0.00 | 4.45B | 2.58B | 4.57B | 1.43B | 469.41M |
WILLPLUS Holdings Corp. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | ¥921.53B | 21.78 | 20.96% | 2.80% | 11.30% | 12.09% | |
69 Neutral | ¥63.07B | 11.07 | ― | 4.49% | 13.60% | 12.08% | |
62 Neutral | ¥129.22B | 10.24 | ― | 2.77% | 14.34% | -4.02% | |
58 Neutral | ¥262.56B | 15.11 | ― | 1.24% | 23.06% | 160.29% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
53 Neutral | ¥10.30B | 8.45 | ― | 4.32% | 9.28% | -23.02% | |
50 Neutral | ¥3.41B | 18.34 | ― | 1.08% | 3.64% | ― |
* General Sector Average
JP:3538
WILLPLUS Holdings Corp.
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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.