Capital Asset Planning, Inc. (3965) AI Stock Analysis

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Capital Asset Planning, Inc.

(TSE/TYO:3965)

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Rating:71Outperform

Price Target:JPY 950.00▲(12.43% Upside)

Action:reiterated

Date:08/06/26

The score is driven primarily by improving financial performance (re-accelerating revenue growth and higher margins) but tempered by a volatile cash-flow history. Valuation is a clear positive with a low P/E and a moderate dividend yield, while technical indicators point to only mild, neutral-to-positive momentum.

Positive Factors

Revenue and profitability recoveryThe return to revenue growth alongside expanding gross and net margins indicates improving operating execution. If sustained, this recovery can strengthen earnings quality and provide a durable base for future investment and shareholder returns.

Negative Factors

Volatile cash-flow conversionThe repeated history of negative cash flow reduces confidence in earnings consistency, even after the FY2025 improvement. Working-capital or investment swings may continue to create funding needs and make cash generation harder to forecast.

Capital Asset Planning, Inc. (3965) vs. iShares MSCI Japan ETF (EWJ)

Market Cap: JPY 4.92B
Dividend Yield: 3.08%
Average Volume (3M): 7,305
Price to Earnings (P/E): 7.3
Beta (1Y): 0.18
Revenue Growth: 15.12%
EPS Growth: 152.42%
Country: Japan
Employees: 387
Sector: Technology
Sector Strength: 61
Industry: Software - Application

Capital Asset Planning, Inc. Business Overview & Revenue Model

Company Description

Capital Asset Planning, Inc., established in Osaka, Japan, in 1990, delivers system integration services both domestically and internationally. The company develops specialized application systems tailored for life insurance providers, encompassing p...

Capital Asset Planning, Inc. Financial Statement Overview

Summary

Fundamentals show a clear post-FY2022 recovery: revenue growth re-accelerated (~4.7% in FY2025) and profitability improved with net margin rising to ~4.1% and gross margin expanding to ~21.9%. Balance sheet leverage is manageable and improving (debt-to-equity ~0.37) with stronger ROE (~10.6%). The main constraint is consistency—earnings and especially cash flows have been volatile, with operating/free cash flow negative in FY2024 and other prior years despite improving in FY2025.

Income Statement

78Positive

Balance Sheet

74Positive

Cash Flow

61Positive

Financial statement breakdown
Breakdown	TTM	Sep 2025	Sep 2024	Sep 2023	Sep 2022	Sep 2021
Income Statement
Total Revenue	10.66B	9.69B	8.18B	8.05B	6.75B	6.63B
Gross Profit	2.64B	2.12B	1.73B	1.66B	983.87M	1.27B
EBITDA	1.23B	846.59M	613.21M	761.85M	53.22M	387.13M
Net Income	664.22M	401.82M	156.75M	221.62M	-248.38M	69.57M
Balance Sheet
Total Assets	7.03B	6.63B	5.77B	5.61B	5.15B	5.87B
Cash, Cash Equivalents and Short-Term Investments	3.42B	1.77B	1.44B	1.89B	1.21B	1.89B
Total Debt	1.35B	1.41B	1.44B	1.34B	1.38B	1.65B
Total Liabilities	2.97B	2.70B	2.48B	2.47B	2.21B	2.63B
Stockholders Equity	3.93B	3.79B	3.30B	3.15B	2.94B	3.24B
Cash Flow
Free Cash Flow	1.19B	383.71M	-429.50M	879.67M	-460.04M	486.59M
Operating Cash Flow	1.29B	434.51M	-283.41M	1.22B	-182.17M	996.62M
Investing Cash Flow	-87.52M	16.48M	-178.02M	-433.68M	-164.65M	-525.36M
Financing Cash Flow	-199.53M	-119.53M	11.15M	-104.54M	-335.00M	4.71M

Capital Asset Planning, Inc. Technical Analysis

Technical Analysis SentimentNegative

Last Price845.00

Price Trends

50DMA864.02Negative

100DMA853.57Negative

200DMA835.58Positive

Market Momentum

MACD-3.92Positive

RSI39.28Neutral

STOCH33.33Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:3965, the sentiment is Negative. The current price of 845.00 is below the 20-day moving average (MA) of 851.80, below the 50-day MA of 864.02, and above the 200-day MA of 835.58, indicating a neutral trend. The MACD of -3.92 indicates Positive momentum. The RSI at 39.28 is Neutral, neither overbought nor oversold. The STOCH value of 33.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:3965.

Capital Asset Planning, Inc. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (61)

Financial Indicators

JP:3965 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
JP:4389	79Outperform	JPY 10.60B	16.11	―	3.16%	18.75%	32.52%
JP:3965	71Outperform	JPY 4.87B	7.35	―	3.08%	15.12%	152.42%
JP:7320	64Neutral	JPY 16.20B	9.13	―	1.45%	14.52%	―
Sector *	61Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
JP:4375	57Neutral	JPY 33.90B	72.99	―	―	22.56%	―
JP:5035	51Neutral	JPY 2.16B	-5.96	―	1.08%	-6.00%	-480.80%
JP:4446	45Neutral	JPY 9.41B	-17.11	―	―	-0.72%	-474.84%

* Technology Sector Average

Performance Comparison

JP:3965 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
JP:3965	Capital Asset Planning, Inc.	845.00	61.92	7.91%
JP:4375	Safie Inc.	620.00	-252.00	-28.90%
JP:4389	Property Data Bank, Inc.	1014.00	216.15	27.09%
JP:4446	Link-U Group Inc.	670.00	-366.00	-35.33%
JP:5035	HOUSEI Inc.	277.00	-146.74	-34.63%
JP:7320	Japan Living Warranty, Inc.	1381.00	-136.87	-9.02%

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

Capital Asset Planning, Inc. AI Stock Analysis