Morningstar Japan K.K. (4765) AI Stock Analysis

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Morningstar Japan K.K.

(TSE/TYO:4765)

Select Model

Rating:75Outperform

Price Target:JPY 721.00▲(16.48% Upside)

Action:reiterated

Date:11/06/26

The company's fortress-like balance sheet and strong cash flow generation are the primary strengths, providing a stable foundation. This is complemented by a reasonable valuation and an attractive dividend yield. Technical indicators suggest a healthy, non-overbought uptrend. The main risk to monitor is the downward trend in profit margins despite strong revenue growth.

Positive Factors

Very low leverageThe exceptionally low debt burden reduces solvency risk and limits interest-related pressure on earnings. This gives Morningstar Japan meaningful flexibility to sustain operations, invest in its information and analytics offerings, and withstand periods of weaker business conditions.

Negative Factors

Margin compressionThe decline in profitability margins suggests that recent revenue growth has not translated proportionately into earnings. If this pattern persists, it could constrain internal reinvestment, reduce operating leverage, and weaken the long-term earnings benefit of the company’s expanded revenue base.

Morningstar Japan K.K. (4765) vs. iShares MSCI Japan ETF (EWJ)

Market Cap: JPY 85.46B
Dividend Yield: 3.76%
Average Volume (3M): 361.94K
Price to Earnings (P/E): 14.5
Beta (1Y): 0.59
Revenue Growth: 262.94%
EPS Growth: 109.58%
Country: Japan
Employees: 357
Sector: Financial
Sector Strength: 68
Industry: Asset Management

Morningstar Japan K.K. Business Overview & Revenue Model

Company Description

SBI Global Asset Management Co., Ltd. provides financial and asset management services in Japan and internationally. The company provides investment management and investment advice services, such as investment trust setting, solicitation, and manage...

How the Company Makes Money

Morningstar Japan K.K. primarily generates revenue by providing paid access to investment data, research, and analytics services to institutional clients in Japan. Key revenue streams typically include (1) subscription or license fees for databases a...

Morningstar Japan K.K. Financial Statement Overview

Summary

Strong overall financial health. The balance sheet is exceptional with virtually no debt and a substantial equity base. Cash flow generation is robust with excellent earnings conversion. Revenue growth is impressive, though margin compression warrants monitoring.

Income Statement

75Positive

Balance Sheet

90Very Positive

Cash Flow

78Positive

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	27.86B	27.86B	11.57B	10.14B	8.75B	8.12B
Gross Profit	11.62B	11.62B	5.70B	5.22B	4.53B	4.47B
EBITDA	6.36B	5.98B	3.11B	2.62B	8.68B	3.04B
Net Income	3.07B	3.07B	1.65B	1.59B	5.44B	1.45B
Balance Sheet
Total Assets	53.03B	53.03B	18.26B	18.63B	21.36B	14.06B
Cash, Cash Equivalents and Short-Term Investments	22.70B	22.70B	4.01B	3.64B	2.14B	5.18B
Total Debt	103.46M	103.46M	175.87M	215.69M	252.64M	69.09M
Total Liabilities	11.10B	11.10B	2.85B	2.52B	4.56B	1.78B
Stockholders Equity	32.63B	32.63B	15.24B	15.96B	16.48B	11.80B
Cash Flow
Free Cash Flow	0	2.64B	2.00B	8.34B	2.27B	804.63M
Operating Cash Flow	0	2.68B	2.01B	8.76B	2.61B	1.13B
Investing Cash Flow	0	-910.18M	359.58M	-5.49B	-3.47B	1.32B
Financing Cash Flow	0	-2.19B	-2.01B	-2.15B	-1.89B	-2.15B

Morningstar Japan K.K. Technical Analysis

Technical Analysis SentimentPositive

Last Price619.00

Price Trends

50DMA613.39Positive

100DMA598.06Positive

200DMA592.74Positive

Market Momentum

MACD3.31Negative

RSI53.09Neutral

STOCH37.84Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4765, the sentiment is Positive. The current price of 619.00 is above the 20-day moving average (MA) of 611.15, above the 50-day MA of 613.39, and above the 200-day MA of 592.74, indicating a bullish trend. The MACD of 3.31 indicates Negative momentum. The RSI at 53.09 is Neutral, neither overbought nor oversold. The STOCH value of 37.84 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:4765.

Morningstar Japan K.K. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (68)

Financial Indicators

JP:4765 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
JP:8628	76Outperform	JPY 260.40B	13.48	23.59%	5.23%	46.94%	77.06%
JP:4765	75Outperform	JPY 85.46B	14.51	17.24%	3.76%	262.94%	109.58%
JP:8609	72Outperform	JPY 234.26B	7.92	―	3.77%	35.90%	141.48%
JP:8613	69Neutral	JPY 79.75B	14.27	10.64%	6.17%	20.63%	21.84%
Sector *	68Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
JP:8698	52Neutral	JPY 150.29B	31.29	3.80%	5.16%	3.80%	―
JP:3807	40Underperform	JPY 3.25B	-315251973915934976.00	―	―	-1.03%	―

* Financial Sector Average

Performance Comparison

JP:4765 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
JP:4765	Morningstar Japan K.K.	619.00	37.77	6.50%
JP:8698	Monex Group	597.00	-104.74	-14.93%
JP:8628	Matsui Securities Co	1014.00	248.39	32.44%
JP:8613	Marusan Securities Co., Ltd.	1198.00	307.38	34.51%
JP:3807	Fisco Ltd.	70.00	-74.00	-51.39%
JP:8609	Okasan Securities Group Inc.	1064.00	392.59	58.47%

Morningstar Japan K.K. Corporate Events

SBI Global Asset Management Lifts Interim Dividend on Record Earnings

Oct 27, 2026

SBI Global Asset Management has approved an interim dividend of 9.50 yen per share for the period with a record date of September 30, 2026, matching its earlier forecast and exceeding the previous year’s interim payout of 9.00 yen. Although the total...

SBI Global Asset Management Posts Strong Interim Results but Holds Back Full-Year Guidance

Oct 27, 2026

SBI Global Asset Management reported a sharp improvement in its consolidated results for the six months ended Sept. 30, 2026, with net sales surging 271.2% year on year to ¥27.0 billion and profit attributable to owners of the parent jumping 240.3% t...

SBI Global Asset Management to Absorb SBI Insurance Group in Strategic Merger

Sep 30, 2026

SBI Global Asset Management and SBI Insurance Group have signed a basic agreement to integrate their businesses through an absorption-type merger, with SBIGAM as the surviving entity and SBIIG to be dissolved. The transaction, subject to shareholder...

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: Nov 05, 2026

Morningstar Japan K.K. AI Stock Analysis