Ad-Sol Nissin Corp. (3837) AI Stock Analysis

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Ad-Sol Nissin Corp.

(TSE/TYO:3837)

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Rating:81Outperform

Price Target:JPY 1,468.00▲(15.50% Upside)

Action:reiterated

Date:08/17/26

Ad-Sol Nissin Corp. receives a strong overall score of 81, driven primarily by its excellent financial performance, including consistent revenue growth, expanding margins, and a debt-free balance sheet. Technical indicators support a bullish trend with price above moving averages and positive momentum. Valuation is reasonable, though not a standout, but the company's strong fundamentals justify the current price level.

Positive Factors

Sustained Revenue GrowthMulti-year revenue expansion indicates continued demand for Ad-Sol Nissin’s system integration, software development, and support services. The stronger latest-year growth provides a durable base for utilization, customer engagement, and further operating leverage over the next several quarters.

Negative Factors

Volatile Operating Cash ConversionAlthough latest-year free cash flow matched net income, operating cash conversion has repeatedly lagged reported profits. Working-capital or timing effects can therefore make internally generated cash less predictable, potentially constraining investment and distributions during weaker periods.

Ad-Sol Nissin Corp. (3837) vs. iShares MSCI Japan ETF (EWJ)

Market Cap: JPY 21.23B
Dividend Yield: 4.09%
Average Volume (3M): 94.15K
Price to Earnings (P/E): 13.5
Beta (1Y): 0.99
Revenue Growth: 4.69%
EPS Growth: 23.14%
Country: Japan
Employees: 645
Sector: General
Sector Strength: 55
Industry: Information Technology Services

Ad-Sol Nissin Corp. Business Overview & Revenue Model

Company Description

Ad-Sol Nissin Corporation specializes in creating information and integrated embedded systems for businesses throughout Japan. Its product portfolio includes a range of ZigBee solutions, featuring wireless communication with multi-hop capabilities. I...

How the Company Makes Money

Ad-Sol Nissin primarily makes money by delivering IT services to corporate and public-sector customers through (1) project-based system development and integration and (2) ongoing maintenance and operations support. 1) Project-based development / sys...

Ad-Sol Nissin Corp. Financial Statement Overview

Summary

Strong revenue growth, expanding margins, and a debt-free balance sheet with high ROE. Cash flow generation is healthy with high conversion to free cash flow.

Income Statement

88Very Positive

Balance Sheet

95Very Positive

Cash Flow

85Very Positive

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	17.08B	17.15B	15.46B	14.08B	12.84B	12.25B
Gross Profit	5.13B	4.97B	4.31B	3.81B	3.36B	3.02B
EBITDA	2.37B	2.29B	1.86B	1.58B	1.33B	1.18B
Net Income	1.62B	1.51B	1.21B	979.15M	841.42M	784.94M
Balance Sheet
Total Assets	9.92B	10.27B	10.20B	10.40B	9.56B	8.22B
Cash, Cash Equivalents and Short-Term Investments	2.75B	2.94B	2.89B	3.76B	3.39B	2.81B
Total Debt	0	0	0	0	0	0
Total Liabilities	2.47B	3.33B	3.13B	3.11B	2.89B	2.25B
Stockholders Equity	7.46B	6.95B	7.07B	7.29B	6.68B	5.97B
Cash Flow
Free Cash Flow	0	1.88B	890.13M	782.95M	890.69M	1.74B
Operating Cash Flow	0	1.89B	1.03B	804.96M	1.02B	1.78B
Investing Cash Flow	0	-14.23M	-202.56M	-71.41M	-99.65M	-241.01M
Financing Cash Flow	0	-1.82B	-1.70B	-364.96M	-336.13M	-410.06M

Ad-Sol Nissin Corp. Technical Analysis

Technical Analysis SentimentNegative

Last Price1271.00

Price Trends

50DMA1335.57Negative

100DMA1379.12Negative

200DMA1448.38Negative

Market Momentum

MACD-28.49Positive

RSI42.92Neutral

STOCH52.10Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:3837, the sentiment is Negative. The current price of 1271.00 is below the 20-day moving average (MA) of 1317.40, below the 50-day MA of 1335.57, and below the 200-day MA of 1448.38, indicating a bearish trend. The MACD of -28.49 indicates Positive momentum. The RSI at 42.92 is Neutral, neither overbought nor oversold. The STOCH value of 52.10 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:3837.

Ad-Sol Nissin Corp. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

JP:3837 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
JP:3916	86Outperform	JPY 31.27B	14.34	―	3.68%	5.74%	-3.58%
JP:4396	81Outperform	JPY 27.12B	14.52	―	2.43%	11.87%	21.49%
JP:4072	81Outperform	JPY 33.48B	12.12	―	3.18%	4.92%	-14.52%
JP:3837	81Outperform	JPY 21.79B	13.48	―	4.09%	4.69%	23.14%
JP:4725	79Outperform	JPY 32.76B	9.24	10.39%	5.11%	3.46%	6.90%
JP:3844	71Outperform	JPY 39.11B	17.31	11.53%	4.14%	4.27%	-30.87%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%

* General Sector Average

Performance Comparison

JP:3837 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
JP:3837	Ad-Sol Nissin Corp.	1271.00	-172.28	-11.94%
JP:3844	Comture Corporation	1232.00	-313.28	-20.27%
JP:4725	CAC Holdings Corporation	1957.00	-6.46	-0.33%
JP:3916	Digital Information Technologies Corp.	1019.00	-230.58	-18.45%
JP:4072	Densan System Holdings Co. Ltd.	3145.00	-477.52	-13.18%
JP:4396	System Support, Inc.	1315.00	-48.60	-3.56%

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

Ad-Sol Nissin Corp. AI Stock Analysis