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Aica Kogyo Company, Limited (4206) AI Stock Analysis

JP:4206

Aica Kogyo Company, Limited

(TSE/TYO:4206)

Select Model
Rating:77Outperform
Price Target:JPY 4,968.00â–²(13.50% Upside)
Action:upgraded
Date:08/05/26

Aica Kogyo's strong financial fundamentals, including consistent revenue growth, improving margins, and a conservative balance sheet, are the primary drivers of the score. The recent cash flow dip is a minor concern but is offset by the company's solid equity base. Positive technical indicators confirm an uptrend, and valuation metrics suggest the stock is attractively priced with a healthy dividend yield. The overall score of 77 reflects a favorable investment profile with moderate risk.

Positive Factors
Revenue and Profitability ImprovementThe recovery in revenue after the 2024 decline, combined with materially stronger operating and net margins through 2026, indicates improved earnings capacity. If maintained, this progress can support reinvestment, strengthen internal funding, and improve resilience across the next several quarters.
Negative Factors
Weak Cash ConversionThe sharp weakening in operating and free cash flow relative to reported earnings raises concerns about earnings quality and cash realization. Persistently weak conversion could constrain internally funded investment, dividends, or debt reduction even while accounting profitability remains solid.

Aica Kogyo Company, Limited (4206) vs. iShares MSCI Japan ETF (EWJ)

-10%-5%0%5%10%15%20%25%30%JP:4206+24.86%EWJ+15.87%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
Market Cap
JPY 276.96B
Dividend Yield
3.29%
Average Volume (3M)
278.96K
Price to Earnings (P/E)
14.6
Beta (1Y)
0.45
Revenue Growth
4.67%
EPS Growth
9.51%
Country
Japan
Employees
5,314
Sector
Industrials
Sector Strength
63
Industry
Industrial - Specialties

Aica Kogyo Company, Limited Business Overview & Revenue Model

Company Description

Aica Kogyo Company, Limited is an international enterprise engaged in the development, manufacture, and distribution of a comprehensive array of chemical products, as well as laminates and building materials. The company's chemical division provides...

How the Company Makes Money

Aica Kogyo makes money mainly by manufacturing and selling chemical and building-material products to B2B customers. Revenue is generated through (1) sales of adhesives and resins used in wood products, housing-related materials, and industrial bondi...

Aica Kogyo Company, Limited Financial Statement Overview

Summary

Revenue growth steady (~7.6% CAGR) with recent 5-6% growth, improving profitability (net margin 7.4%), and strong balance sheet (debt/equity 0.18). Cash flow declined sharply in latest year, but balance sheet strength mitigates risk. Overall financial health is sound.

Income Statement

75Positive

Balance Sheet

82Very Positive

Cash Flow

60Neutral
Financial statement breakdown
BreakdownTTMMar 2026Mar 2025Mar 2024Mar 2023Mar 2022
Income Statement
Total Revenue263.38B251.76B248.70B236.63B242.06B214.51B
Gross Profit75.50B68.37B67.91B64.14B56.80B54.09B
EBITDA41.62B38.88B35.62B33.08B25.98B28.29B
Net Income18.79B18.53B16.90B15.13B10.06B13.12B
Balance Sheet
Total Assets344.38B326.44B288.06B274.74B252.69B242.15B
Cash, Cash Equivalents and Short-Term Investments54.73B60.21B65.67B62.02B50.99B47.18B
Total Debt44.87B47.58B30.63B30.49B30.30B17.22B
Total Liabilities123.11B119.13B98.33B98.19B94.62B79.42B
Stockholders Equity193.64B190.50B173.39B161.81B145.23B145.25B
Cash Flow
Free Cash Flow01.09B18.49B20.01B12.21B4.99B
Operating Cash Flow08.78B26.75B28.48B19.85B11.69B
Investing Cash Flow0-27.47B-11.12B-7.57B-9.06B-8.34B
Financing Cash Flow010.77B-16.79B-11.17B-9.36B-1.11B

Aica Kogyo Company, Limited Technical Analysis

Technical Analysis SentimentPositive
Last Price4377.00

Price Trends

50DMA4199.82Positive
100DMA3925.84Positive
200DMA3723.53Positive

Market Momentum

MACD59.16Positive
RSI59.56Neutral
STOCH37.97Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4206, the sentiment is Positive. The current price of 4377.00 is above the 20-day moving average (MA) of 4349.75, above the 50-day MA of 4199.82, and above the 200-day MA of 3723.53, indicating a bullish trend. The MACD of 59.16 indicates Positive momentum. The RSI at 59.56 is Neutral, neither overbought nor oversold. The STOCH value of 37.97 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:4206.

Aica Kogyo Company, Limited Peers Comparison

Overall Rating

UnderperformOutperform
Sector (63)

Financial Indicators

JP:4206 against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
JP:5393JP:539381OutperformJPY 626.13B18.8714.35%1.95%2.55%13.32%
JP:3106JP:310680OutperformJPY 193.85B16.21―14.39%-3.25%-0.51%
JP:4206JP:420677OutperformJPY 277.01B14.61―3.29%4.67%9.51%
JP:3105JP:310567NeutralJPY 352.94B14.608.13%1.60%2.09%95.69%
JP:4204JP:420466NeutralJPY 1.04T14.089.23%3.15%6.37%13.53%
Sector *63Neutral$10.79B15.437.44%2.01%2.89%-14.66%
JP:3401JP:340150NeutralJPY 310.01B-7.35-10.89%3.11%-14.22%-282.16%

* Industrials Sector Average

Performance Comparison

0%50%100%JP:4206JP:5393JP:3105JP:4204JP:3401JP:3106Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
JP:4206 and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
JP:4206Aica Kogyo Company, Limited4377.00877.1525.06%
JP:5393Nichias Corporation3304.001420.7875.44%
JP:3105Nisshinbo Holdings 2244.001050.1087.95%
JP:4204Sekisui Chemical Co 2574.00-18.99-0.73%
JP:3401Teijin 1607.00298.1222.78%
JP:3106KURABO INDUSTRIES LTD.2307.00948.5469.82%

Aica Kogyo Company, Limited Corporate Events

Aica Kogyo to Dispose Treasury Stock for Expanded Employee Share Plan

Aug 4, 2026

Aica Kogyo’s board has approved the disposal of 50,000 shares of treasury stock, valued at 182.45 million yen, to the Custody Bank of Japan’s trust account as part of an additional contribution to its stock benefit trust (J-ESOP). The dis...

Aica Kogyo Raises Full-Year Earnings Outlook on Record First-Quarter Performance

Aug 4, 2026

Aica Kogyo Company, Limited, a Japanese manufacturer of adhesives, decorative laminates, and other building materials, is pushing a medium-term strategy that prioritizes profitability, high-value-added products, and overseas growth. The company lever...

Aica Kogyo Raises Dividend Forecast on Record First-Quarter Results

Aug 4, 2026

Aica Kogyo Company, Limited has revised its dividend forecast for the fiscal year ending March 31, 2027, citing strong business performance, including record first-quarter consolidated results in net sales and all major profit measures. The board app...

Aica Kogyo Hits Record Q1 Results, Lifts Dividend on Stylam Boost

Aug 4, 2026

Aica Kogyo reported record-high consolidated results for the three months ended June 30, 2026, with net sales rising 19.4% year on year to ¥71.4 billion and operating profit climbing 44.9% to ¥9.16 billion, boosting margins as well. Ordinar...

Aica Kogyo Lifts Profits and Dividend Forecast on Strong First-Quarter Results

Aug 4, 2026

Aica Kogyo reported strong consolidated results for the three months to June 30, 2026, with net sales up 19.4% year on year to ¥71.4 billion and operating profit surging 44.9% to ¥9.2 billion. Ordinary profit climbed 34.8% and profit attrib...

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 04, 2026