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Kureha
(4023)
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Rating:60Neutral
Price Target:
¥4,772.00
▲(15.41% Upside)
Action:Reiterated
Date:08/11/26
The score is held back primarily by weakened financial performance, with a recent shift to net losses and higher leverage despite stable gross margins. Offsetting this, price action is technically strong with the stock trading above key moving averages and positive MACD. Valuation is supported by a high dividend yield, but the negative P/E (loss-making period) limits the valuation contribution.
Positive Factors
Specialty materials business
Exposure to specialty chemicals and fluoropolymer-related materials can support differentiation and customer integration versus commoditized products. This mix may provide more durable pricing power and margin resilience when production efficiency and product selection remain favorable.
Negative Factors
Sustained loss-making performance
The shift from profitability in 2022–2025 to losses in annual 2026 and TTM signals materially weaker earnings quality and elevated volatility. Unless operating performance recovers, losses can constrain reinvestment, weaken returns and reduce resilience across the business cycle.
Read all positive and negative factors
Positive Factors
Negative Factors
Specialty materials business
Exposure to specialty chemicals and fluoropolymer-related materials can support differentiation and customer integration versus commoditized products. This mix may provide more durable pricing power and margin resilience when production efficiency and product selection remain favorable.
Read all positive factors
Kureha (4023) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥169.90B
Dividend Yield4.77%
Average Volume (3M)409.12K
Price to Earnings (P/E)―
Beta (1Y)0.75
Revenue Growth6.78%
EPS Growth-257.95%
CountryJP
Employees3,941
SectorBasic Materials
Sector Strength58
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)-192.95
Shares Outstanding40,242,220
10 Day Avg. Volume239,800
30 Day Avg. Volume409,116
Financial Highlights & Ratios
PEG Ratio0.05
Price to Book (P/B)0.96
Price to Sales (P/S)0.98
P/FCF Ratio33.27
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥4,137.50Price Target Upside0.06% Upside
Rating ConsensusHold
Number of Analyst Covering4
EPS Forecast (FY)218.46
Revenue Forecast (FY)¥170.25B
Kureha Business Overview & Revenue Model
Company Description
Kureha Corporation is a global enterprise based in Japan, engaged in the development, manufacturing, and distribution of diverse offerings, including advanced materials, specialized chemicals, and various plastic products. The company organizes it...
How the Company Makes Money
Kureha makes money primarily by manufacturing and selling chemical products and materials to industrial and commercial customers. Its revenue model is largely business-to-business: it earns sales revenue from (1) functional/advanced material produ...
Kureha Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
52
Neutral
Cash Flow
60
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 167.25B | 161.69B | 162.01B | 177.97B | 191.28B | 168.34B |
| Gross Profit | 49.31B | 45.55B | 42.49B | 51.34B | 54.79B | 50.88B |
| EBITDA | -3.85B | -5.21B | 23.10B | 25.76B | 34.84B | 32.11B |
| Net Income | -8.46B | -10.69B | 7.80B | 9.73B | 16.87B | 14.16B |
Balance Sheet | ||||||
| Total Assets | 343.41B | 338.44B | 345.30B | 328.51B | 296.40B | 282.64B |
| Cash, Cash Equivalents and Short-Term Investments | 30.09B | 29.73B | 21.50B | 23.13B | 32.20B | 30.64B |
| Total Debt | 123.38B | 119.66B | 84.71B | 53.59B | 24.99B | 27.49B |
| Total Liabilities | 172.18B | 171.26B | 134.16B | 107.48B | 79.63B | 81.91B |
| Stockholders Equity | 169.21B | 165.23B | 209.37B | 219.26B | 215.20B | 199.22B |
Cash Flow | ||||||
| Free Cash Flow | 4.08B | 4.75B | -14.31B | -21.10B | 8.51B | 15.99B |
| Operating Cash Flow | 29.42B | 28.01B | 29.52B | 11.60B | 22.74B | 28.58B |
| Investing Cash Flow | -16.50B | -13.72B | -39.44B | -34.29B | -11.10B | -11.00B |
| Financing Cash Flow | -7.36B | -7.96B | 8.44B | 12.13B | -10.48B | -6.11B |
Kureha Technical Analysis
Positive
4135.00
Price Trends
4202.40
Positive
4056.85
Positive
4090.13
Positive
Market Momentum
79.57
Positive
55.69
Neutral
40.88
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4023, the sentiment is Positive. The current price of 4135 is below the 20-day moving average (MA) of 4421.00, below the 50-day MA of 4202.40, and above the 200-day MA of 4090.13, indicating a bullish trend. The MACD of 79.57 indicates Positive momentum. The RSI at 55.69 is Neutral, neither overbought nor oversold. The STOCH value of 40.88 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:4023.
Kureha Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | ¥2.19T | 17.18 | 12.36% | 1.69% | 4.24% | 6.46% | |
77 Outperform | ¥461.11B | 11.26 | 9.96% | 3.43% | 0.17% | 69.59% | |
69 Neutral | ¥619.24B | 20.98 | 8.52% | 1.62% | 10.34% | 64.18% | |
69 Neutral | ¥181.57B | 19.59 | ― | 2.84% | 4.24% | -10.24% | |
66 Neutral | ¥369.57B | 10.59 | 6.43% | 2.74% | 3.53% | 63.85% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
60 Neutral | ¥169.90B | -23.24 | -6.14% | 3.76% | 6.78% | -257.95% |
* Basic Materials Sector Average
JP:4023
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Kureha Corporate Events
Kureha Lifts FY2026 Outlook on Strong Specialty Chemicals and Equity Gains
Aug 7, 2026
Kureha Corporation has sharply raised its forecast for the six months to September 30, 2026, projecting revenue of ¥85.5 billion and core operating profit of ¥7.5 billion, driven mainly by earlier-than-expected shipments of crop protecti...
Kureha Delivers Strong Q1 Earnings But Guides for Softer Full-Year Profits
Aug 7, 2026
Kureha reported a strong start to the fiscal year ending March 31, 2027, with first-quarter revenue rising 15.2% year on year to ¥42.1 billion and core operating profit surging 209%. Profit attributable to owners of the parent more than doubl...
Kureha Completes Restricted Stock Remuneration Disposal for Directors
Jul 24, 2026
Kureha Corporation has completed the payment procedures for the disposal of its treasury stock used as restricted stock remuneration, following a resolution by its Board of Directors in late June 2026. The company issued 6,955 shares of common sto...
Kureha Cancels Nearly 20% of Outstanding Shares to Tighten Equity Base
Jun 30, 2026
Kureha Corporation has completed the cancellation of 9,700,000 treasury shares, all common stock, effective June 30, 2026, following a resolution approved by its Board of Directors in May. The cancelled shares represented 19.42% of the companyR...
Kureha Links Director Stock Awards to Mid-Term Performance and ESG Targets
Jun 25, 2026
Kureha Corporation has approved a new grant of performance-based restricted stock units for four internal directors under its performance share unit remuneration plan. The grant covers up to 41,730 shares, valued at about ¥160 million at rece...
Kureha to Grant Restricted Stock to Directors via Treasury Share Disposal
Jun 25, 2026
Kureha Corporation has approved the disposal of 6,955 treasury shares as restricted stock remuneration for four internal directors, with a disposal price of 3,845 yen per share and a total value of about 26.7 million yen. The stock-based compensat...
Kureha Completes Treasury Stock Disposal for Executive Restricted Stock Pay
May 28, 2026
Kureha Corporation has completed payment procedures for the disposal of 3,006 shares of its treasury stock as restricted stock remuneration to five executive officers, following a board resolution made on April 28, 2026. The shares were disposed o...
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.