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KEIWA Incorporated
(4251)
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Rating:69Neutral
Price Target:
¥1,314.00
▲(4.95% Upside)
Action:Downgraded
Date:08/18/26
The score is driven primarily by solid financial quality anchored by a strong, low-leverage balance sheet and still-healthy margins, plus an attractive valuation (low P/E and ~3.33% yield). Offsetting these positives are weaker recent operating momentum (2025 revenue decline and lower net margin) and inconsistent free-cash-flow generation, while the technical picture remains soft with the stock trading below key moving averages.
Positive Factors
Conservative balance sheet
Very low leverage reduces financing risk and preserves flexibility for investment, dividends, or resilience during weaker demand. The steadily lower debt burden and materially larger equity base provide a durable capital-strength advantage.
Negative Factors
Revenue contraction
The 2025 top-line decline signals weaker demand or execution and limits operating leverage. If revenue remains choppy, fixed-cost absorption and future profit growth may be constrained, making recovery in sales a key fundamental requirement.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Very low leverage reduces financing risk and preserves flexibility for investment, dividends, or resilience during weaker demand. The steadily lower debt burden and materially larger equity base provide a durable capital-strength advantage.
Read all positive factors
KEIWA Incorporated (4251) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥22.41B
Dividend Yield3.44%
Average Volume (3M)97.64K
Price to Earnings (P/E)7.2
Beta (1Y)0.99
Revenue Growth-1.40%
EPS Growth62.04%
CountryJP
Employees409
SectorTechnology
Sector Strength88
IndustryHardware, Equipment & Parts
Share Statistics
EPS (TTM)126.55
Shares Outstanding19,285,152
10 Day Avg. Volume105,060
30 Day Avg. Volume97,643
Financial Highlights & Ratios
PEG Ratio-0.66
Price to Book (P/B)0.98
Price to Sales (P/S)1.14
P/FCF Ratio37.79
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)167.6
Revenue Forecast (FY)¥22.30B
KEIWA Incorporated Business Overview & Revenue Model
Company Description
Based in Tokyo, Japan, KEIWA Incorporated, founded in 1948, is a key manufacturer and supplier of specialized optical sheets and advanced functional materials. The company, which operated as KEIWA Commerce and Industry Co., Ltd. until its name cha...
How the Company Makes Money
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KEIWA Incorporated Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
83
Very Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 20.73B | 20.47B | 21.13B | 17.57B | 21.10B | 18.13B |
| Gross Profit | 8.86B | 8.78B | 9.88B | 7.24B | 10.19B | 7.21B |
| EBITDA | 5.56B | 6.39B | 5.69B | 4.38B | 8.26B | 4.67B |
| Net Income | 2.34B | 2.27B | 2.79B | 1.98B | 4.86B | 2.57B |
Balance Sheet | ||||||
| Total Assets | 31.17B | 30.95B | 32.32B | 29.59B | 29.33B | 28.77B |
| Cash, Cash Equivalents and Short-Term Investments | 12.29B | 9.38B | 11.44B | 8.65B | 10.29B | 9.03B |
| Total Debt | 1.85B | 2.07B | 3.33B | 3.97B | 4.77B | 6.19B |
| Total Liabilities | 7.04B | 7.08B | 9.36B | 9.23B | 10.43B | 14.62B |
| Stockholders Equity | 24.13B | 23.86B | 22.96B | 20.36B | 18.91B | 14.15B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 615.72M | 3.71B | -520.21M | 2.19B | -457.81M |
| Operating Cash Flow | 0.00 | 3.55B | 5.92B | 2.45B | 6.76B | 2.18B |
| Investing Cash Flow | 0.00 | -3.03B | -2.72B | -3.91B | -4.00B | -2.27B |
| Financing Cash Flow | 0.00 | -2.72B | -1.35B | -1.55B | -1.68B | 4.95B |
KEIWA Incorporated Technical Analysis
Negative
1252.00
Price Trends
1214.46
Negative
1229.52
Negative
1243.26
Negative
Market Momentum
-16.67
Positive
37.38
Neutral
21.57
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4251, the sentiment is Negative. The current price of 1252 is above the 20-day moving average (MA) of 1213.20, above the 50-day MA of 1214.46, and above the 200-day MA of 1243.26, indicating a bearish trend. The MACD of -16.67 indicates Positive momentum. The RSI at 37.38 is Neutral, neither overbought nor oversold. The STOCH value of 21.57 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:4251.
KEIWA Incorporated Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | ¥29.57B | 13.69 | ― | 2.89% | 1.92% | 9.05% | |
73 Outperform | ¥28.41B | 11.60 | ― | 1.91% | 16.37% | 46.28% | |
72 Outperform | ¥25.02B | 7.71 | ― | 1.78% | 3.68% | -4.84% | |
69 Neutral | ¥22.41B | 7.20 | ― | 2.74% | -1.40% | 62.04% | |
69 Neutral | ¥19.62B | 9.83 | ― | 2.84% | -3.24% | -10.30% | |
64 Neutral | ¥32.41B | 20.50 | 1.96% | 3.00% | -5.29% | ― | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% |
* Technology Sector Average
JP:4251
KEIWA Incorporated
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KEIWA Incorporated Corporate Events
KEIWA Launches ¥1 Billion Share Buyback and Treasury Stock Retirement
Aug 14, 2026
KEIWA Incorporated has approved a new share repurchase program, authorizing the acquisition of up to 650,000 common shares, equivalent to 3.51% of its outstanding stock, for a maximum of ¥1 billion through market purchases on the Tokyo Stock ...
KEIWA Cuts 2026 Earnings Outlook on PC Demand Slowdown and Cost Pressures
Aug 14, 2026
KEIWA Incorporated has downgraded its full-year consolidated earnings forecast for the fiscal year ending December 31, 2026, citing weaker demand for notebook PCs and other products that use its optical films. The company now expects net sales of ...
KEIWA Boosts Profit and Dividend Despite Forecast for Softer Full-Year Earnings
Aug 14, 2026
KEIWA reported net sales of ¥10,537 million for the six months ended June 30, 2026, up 6.3% year on year, while operating income fell 15.5% to ¥1,898 million, signaling margin pressure despite revenue growth. Profit attributable to owner...
KEIWA to Book Large Internal Dividend as Non-Operating Income in 2026
Jun 17, 2026
KEIWA Incorporated, a TSE Prime Market-listed company, operates a group structure that includes its consolidated subsidiary Keiwa (Nanjing) Co., Ltd., reflecting cross-border operations between Japan and China. The company utilizes intra-group div...
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.