Yotai Refractories Co., Ltd. (5357) AI Stock Analysis

• Market Cap: ¥25.54B
• Dividend Yield: 5.16%
• Average Volume (3M): 33.22K
• Price to Earnings (P/E): 14.7
• Beta (1Y): 0.45
• Revenue Growth: -3.07%
• EPS Growth: -44.51%
• Country: JP
• Employees: 531
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Construction Materials
• EPS (TTM): 10.14
• Shares Outstanding: 19,594,000
• 10 Day Avg. Volume: 41,310
• 30 Day Avg. Volume: 33,220
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ¥1,937.00
• Price Target Upside: 12.29% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 0

• Rating: 75 Outperform
• Price Target: ¥1,937.00 ▲(12.29% Upside)

Yotai Refractories Co., Ltd. is well-positioned with strong financials and a solid valuation. The company's robust balance sheet and attractive dividend yield are significant strengths. Technical indicators show stable market momentum, supporting a positive outlook.

Yotai Refractories Co., Ltd. Business Overview & Revenue Model

Company Description

Yotai Refractories Co., Ltd. manufactures and sells refractories and ceramics in Japan. The company also provides engineering services related to refractories business. Its refractories are used in steel, chemical, cement, non-ferrous metal, glass, and other ceramic industries; and environment equipment related furnaces, as well as used in various electronic parts, such as smartphones, personal computers, and cars. The company was formerly known as Osaka Yogyo Fire Brick Co., Ltd. and changed its name to Yotai Refractories Co., Ltd. in June 1987. Yotai Refractories Co., Ltd. was incorporated in 1936 and is headquartered in Kaizuka, Japan.

How the Company Makes Money

Yotai Refractories Co., Ltd. generates revenue primarily through the sale of its refractory products to industrial clients. Its key revenue streams include supplying refractory materials to the steel industry, which is its largest customer segment, as well as the cement and glass industries. The company also engages in the installation and maintenance of refractory products, providing additional service-based revenue. Significant partnerships with major industrial players and the company's focus on innovation and quality contribute to its earnings, ensuring consistent demand for its high-performance refractory solutions.

Yotai Refractories Co., Ltd. Financial Statement Overview

Summary

Yotai Refractories Co., Ltd. shows strong financial health with consistent revenue growth and efficient operations. The balance sheet is robust with minimal leverage risk, but there is room for improvement in net income and cash flow management.

Income Statement

Yotai Refractories Co., Ltd. demonstrates consistent revenue growth with a notable increase of 2.8% from 2024 to 2025. The company maintains a healthy Gross Profit Margin of 21.3% and an EBIT Margin of 11.9%, indicating efficient operations. However, the Net Profit Margin decreased from the previous year, standing at 8.9%. Overall, the company's income statement reflects stable profitability, but there is room for improvement in net income performance.

Balance Sheet

The company's balance sheet is robust, with a low Debt-to-Equity Ratio of 0.005, showcasing minimal leverage risk. The Equity Ratio remains strong at 79.6%, indicating a solid financial foundation with substantial equity backing. The Return on Equity is healthy at 8.0%, reflecting effective use of shareholder funds. The balance sheet reflects financial stability and low risk, positioning the company well for future growth.

Cash Flow

Operating Cash Flow increased by 14.7% from 2024 to 2025, demonstrating improved cash generation from operations. The Free Cash Flow to Net Income Ratio is favorable at 0.81, indicating efficient conversion of earnings to cash. However, the Free Cash Flow Growth Rate is moderate at 28.5%, suggesting potential for enhanced cash flow management. Overall, the cash flow statement shows positive cash generation, but further optimization could enhance liquidity.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	29.31B	29.31B	29.13B	28.25B	25.91B	23.55B
Gross Profit	6.23B	6.23B	6.19B	6.43B	6.35B	4.96B
EBITDA	4.83B	5.08B	6.49B	5.14B	4.99B	3.66B
Net Income	2.62B	2.62B	3.88B	2.97B	2.97B	1.85B
Balance Sheet
Total Assets	41.38B	41.38B	42.53B	39.65B	38.75B	35.40B
Cash, Cash Equivalents and Short-Term Investments	6.41B	6.41B	6.46B	5.84B	8.54B	11.39B
Total Debt	170.09M	170.09M	219.26M	268.68M	46.80M	70.42M
Total Liabilities	8.43B	8.43B	10.00B	8.58B	8.64B	6.36B
Stockholders Equity	32.95B	32.95B	32.53B	31.07B	30.11B	29.03B
Cash Flow
Free Cash Flow	286.00M	2.12B	1.65B	-231.83M	-758.45M	3.69B
Operating Cash Flow	1.53B	4.43B	3.86B	1.78B	421.63M	4.80B
Investing Cash Flow	-1.29B	-2.25B	-754.50M	-1.95B	-1.21B	-1.20B
Financing Cash Flow	-841.00M	-2.26B	-2.54B	-2.54B	-2.11B	-418.92M

Yotai Refractories Co., Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1725.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:5357, the sentiment is Positive. The current price of 1725 is above the 20-day moving average (MA) of 1690.05, above the 50-day MA of 1677.08, and above the 200-day MA of 1643.61, indicating a bullish trend. The MACD of 6.37 indicates Negative momentum. The RSI at 69.15 is Neutral, neither overbought nor oversold. The STOCH value of -36.24 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:5357.

Yotai Refractories Co., Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
5356	80 Outperform	¥13.55B	10.62	8.39%	3.03%	9.24%	12.50%
5352	76 Outperform	¥147.18B	10.75	13.20%	2.79%	1.36%	12.13%
5363	75 Outperform	¥23.83B	8.38	7.65%	3.75%	5.63%	6.00%
5388	75 Outperform	¥15.69B	13.64	5.00%	3.29%	0.73%	10.12%
5357	75 Outperform	¥25.54B	14.72	―	5.16%	-3.07%	-44.51%
5386	60 Neutral	¥3.18B	849.89	0.03%	2.89%	-1.64%	-98.70%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%

Yotai Refractories Co., Ltd. Corporate Events

Yotai Refractories Completes Treasury Shares Disposal for Stock Remuneration

Yotai Refractories Co., Ltd. has completed the payment procedures for the disposal of 12,094 treasury shares as restricted stock remuneration, following a resolution made at the Board of Directors’ meeting on July 11, 2025. This move involves a total disposal value of 20,692,834 yen and is aimed at compensating four directors and seven executive officers, which could potentially impact the company’s financial strategies and stakeholder interests.

Yotai Refractories Reports Decline in Quarterly Financial Performance

Yotai Refractories Co., Ltd. reported a decline in financial performance for the three months ended June 30, 2025, with net sales down by 8.3% and a significant drop in profit attributable to owners by 71.2% compared to the previous year. Despite the downturn, the company maintains a strong capital adequacy ratio of 80.0%, and it has not revised its forecast for the fiscal year ending March 31, 2026, indicating a cautious but stable outlook for future operations.

Yotai Refractories Implements Restricted Stock Remuneration Plan

Yotai Refractories Co., Ltd. announced a decision to dispose of treasury shares as part of a restricted stock remuneration system aimed at enhancing corporate value and aligning interests with shareholders. This move involves allocating shares to directors and executive officers, with a focus on long-term value sharing and motivation enhancement.

Yotai Refractories Announces Parent Company’s Financial Results

Yotai Refractories Co., Ltd. announced the finalized financial results for its non-listed parent company, Aso Corporation, for the fiscal year ending March 31, 2025. Aso Corporation, primarily involved in healthcare and real estate, holds a 35.4% voting stake in Yotai Refractories. This announcement may impact the company’s strategic decisions and stakeholder interests due to the financial health and ownership structure of its parent company.

Yotai Refractories Announces Parent Company’s Financial Results

Yotai Refractories Co., Ltd. has announced the finalized financial results of its non-listed parent company, Aso Corporation, for the fiscal year ended March 31, 2025. Aso Corporation, which holds a 35.4% voting stake in Yotai Refractories, is involved in healthcare and real estate businesses. This announcement may influence stakeholders’ perspectives on Yotai’s financial health and strategic positioning, given the parent company’s significant ownership stake.

Yotai Refractories Announces Major Shareholder Changes Following Successful Tender Offer

Yotai Refractories Co., Ltd. has announced the successful completion of a tender offer for its shares by ASNF HOLDINGS GK, resulting in a significant change in its largest and major shareholder. ASNF HOLDINGS GK, now holding a 35.44% voting rights ratio, will become the company’s largest shareholder, while Sumitomo Osaka Cement Co., Ltd. will no longer be a major shareholder. This shift in shareholder structure is expected to impact the company’s future operations and strategic direction.

Yotai Refractories Reports Financial Results for FY2025

Yotai Refractories Co., Ltd. reported its consolidated financial results for the fiscal year ending March 31, 2025. The company experienced a slight increase in net sales by 0.6% to ¥29,305 million, but saw a decline in operating profit and ordinary profit by 3.3% and 1.7% respectively. Profit attributable to owners of the parent dropped significantly by 32.4% to ¥2,623 million. Despite these challenges, the company increased its annual dividend to ¥90.00 per share, reflecting a higher payout ratio of 63.5%. The financial forecast for the fiscal year ending March 31, 2026, anticipates a modest growth in net sales and profits, indicating a cautiously optimistic outlook for the company.