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Sanwa Holdings
(5929)
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Rating:74Outperform
Price Target:
¥3,855.00
▲(6.49% Upside)
Action:Reiterated
Date:08/01/26
The score is driven primarily by strong financial performance (expanded profitability and a low-leverage balance sheet) and supported by reasonable valuation with an attractive dividend yield. These positives are tempered by weak technicals (price below major moving averages) and recent top-line softness alongside some cash-flow variability.
Positive Factors
Margin Expansion & Operating Efficiency
Sustained margin expansion and higher operating efficiency support durable cash generation and internal funding for capex and dividends. Over 2–6 months this structural uplift in profitability can offset modest revenue weakness, improving return on capital and competitive resilience versus peers.
Negative Factors
Top-line Softness
Declining revenue indicates demand normalization and limits scale benefits; persistent top-line weakness can cap absolute profit growth despite margin gains. Over months, continued negative sales trends would force reliance on cost controls rather than volume-led expansion.
Read all positive and negative factors
Positive Factors
Negative Factors
Margin Expansion & Operating Efficiency
Sustained margin expansion and higher operating efficiency support durable cash generation and internal funding for capex and dividends. Over 2–6 months this structural uplift in profitability can offset modest revenue weakness, improving return on capital and competitive resilience versus peers.
Read all positive factors
Sanwa Holdings (5929) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥725.64B
Dividend Yield3.82%
Average Volume (3M)646.27K
Price to Earnings (P/E)12.5
Beta (1Y)0.84
Revenue Growth-0.07%
EPS Growth2.45%
CountryJP
Employees13,174
SectorIndustrials
Sector Strength72
IndustryConstruction Materials
Share Statistics
EPS (TTM)271.35
Shares Outstanding219,000,000
10 Day Avg. Volume558,670
30 Day Avg. Volume646,266
Financial Highlights & Ratios
PEG Ratio1.95
Price to Book (P/B)2.15
Price to Sales (P/S)1.14
P/FCF Ratio15.92
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)277.66
Revenue Forecast (FY)¥677.54B
Sanwa Holdings Business Overview & Revenue Model
Company Description
Sanwa Holdings Corporation, operating through its various subsidiaries, specializes in the manufacturing and sale of steel construction components for both commercial and residential buildings. Its market reach extends across Japan, North America,...
How the Company Makes Money
Sanwa Holdings makes money primarily by manufacturing and selling building access and enclosure products—most notably various types of doors and shutters—to customers involved in new construction, renovation, and facility upgrades. Revenue is gene...
Sanwa Holdings Financial Statement Overview
Summary
Income Statement
83
Very Positive
Balance Sheet
86
Very Positive
Cash Flow
74
Positive
| Breakdown | TTM | Mar 2026 | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 660.34B | 660.71B | 662.38B | 611.11B | 588.16B | 468.96B |
| Gross Profit | 217.49B | 218.88B | 219.14B | 197.99B | 180.47B | 139.00B |
| EBITDA | 93.27B | 97.47B | 98.79B | 79.58B | 64.47B | 47.10B |
| Net Income | 57.40B | 59.78B | 57.51B | 43.23B | 33.08B | 22.84B |
Balance Sheet | ||||||
| Total Assets | 529.26B | 547.80B | 534.61B | 491.70B | 442.27B | 386.24B |
| Cash, Cash Equivalents and Short-Term Investments | 116.61B | 125.08B | 134.39B | 107.80B | 72.25B | 61.90B |
| Total Debt | 42.91B | 57.07B | 56.98B | 56.83B | 59.59B | 51.50B |
| Total Liabilities | 188.02B | 196.81B | 210.41B | 206.20B | 199.92B | 182.92B |
| Stockholders Equity | 338.73B | 348.56B | 322.14B | 283.81B | 240.91B | 201.94B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 47.16B | 61.29B | 59.06B | 24.38B | 11.24B |
| Operating Cash Flow | 0.00 | 61.40B | 76.94B | 72.43B | 34.42B | 20.53B |
| Investing Cash Flow | 0.00 | -17.92B | -30.17B | -24.82B | -15.94B | -21.35B |
| Financing Cash Flow | 0.00 | -52.70B | -42.89B | -26.24B | -9.89B | -27.36B |
Sanwa Holdings Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | ¥725.64B | 12.53 | 17.46% | 3.82% | -0.07% | 2.45% | |
72 Outperform | ¥98.11B | 14.37 | 5.17% | 3.83% | -0.79% | 21.74% | |
69 Neutral | ¥126.76B | 10.56 | 10.85% | 3.97% | 3.01% | 2.30% | |
68 Neutral | ¥624.71B | 16.65 | ― | 2.59% | 2.27% | 2.33% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
63 Neutral | ¥922.08B | 23.42 | 7.95% | 1.89% | 2.01% | 331.85% | |
50 Neutral | ¥498.44B | 89.57 | 0.85% | 5.21% | 1.71% | -20.26% |
* Industrials Sector Average
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Sanwa Holdings Corporate Events
Sanwa Holdings Q1 Profit Slides but Full-Year Outlook and Dividend Raised
Jul 31, 2026
Sanwa Holdings reported consolidated net sales of ¥140.4 billion for the three months ended June 30, 2026, essentially flat year on year but with a sharp decline in profitability, as operating profit fell 40.8% to ¥5.9 billion and profit...
Sanwa Holdings Q1 FY2026 Sales Flat as Global Volumes Weaken
Jul 31, 2026
Sanwa Holdings reported virtually flat consolidated net sales for the first quarter of FY2026, with revenue slipping to 140.4 billion yen as lower sales volumes across regions offset steady price pass-through. Japan saw modest growth, and climate ...
Sanwa Holdings Completes Restricted Stock Treasury Disposal for Management Incentives
Jul 17, 2026
Sanwa Holdings Corporation has completed the payment process for the disposal of 53,373 shares of its treasury stock, which have been granted as restricted stock compensation to internal management and key personnel. The transaction, approved by t...
Sanwa Holdings Reports Progress on ¥10 Billion Share Buyback Program
Jul 1, 2026
Sanwa Holdings has reported progress on its ongoing share buyback program authorized by the board in mid-May, repurchasing 705,200 common shares on the Tokyo Stock Exchange between June 1 and June 30 at a total cost of about ¥2.54 billion. Th...
Sanwa Holdings Allocates Treasury Shares for Restricted Stock Compensation Plan
Jun 24, 2026
Sanwa Holdings has approved the disposal of 53,373 shares of its treasury stock to implement its restricted stock compensation plans for directors, executive officers, and 367 executive employees at its subsidiary. The shares, valued at ¥3,66...
Sanwa Holdings Starts Execution of ¥10 Billion Share Buyback Program
Jun 1, 2026
Sanwa Holdings Corporation has begun executing a share buyback program authorized by its board on May 14, 2026, under provisions of the Companies Act allowing repurchases via its Articles of Incorporation. From May 21 to May 31, the company repurc...
Sanwa Holdings to Cancel 2 Million Treasury Shares, Tightening Share Base
May 14, 2026
Sanwa Holdings Corporation has approved the cancellation of 2,000,000 shares of its common stock, representing 0.9% of its issued shares before cancellation. The move, authorized by the Board of Directors under Article 178 of the Companies Act, wi...
Sanwa Holdings Launches ¥10 Billion Share Buyback to Boost Capital Efficiency
May 14, 2026
Sanwa Holdings Corporation has authorized a share buyback of up to 3.65 million common shares, representing about 1.7% of its outstanding stock excluding treasury shares. The repurchases, capped at 10 billion yen and to be executed via market purc...
Sanwa Holdings Revamps Board, Adds CPA as Outside Director
May 14, 2026
Sanwa Holdings Corporation has announced changes to its board, appointing certified public accountant Emiko Suzuki as a new outside director and Audit and Supervisory Committee member, subject to shareholder approval at the June 24, 2026 annual me...
Sanwa Holdings Raises Dividend Target and Sets 70th Anniversary Payout Floor
May 14, 2026
Sanwa Holdings has overhauled its dividend policy, shifting its benchmark from an 8% Dividend on Equity based on total equity capital to a 10% Dividend on Shareholders’ Equity based solely on shareholders’ equity. The change, effective...
Sanwa Holdings Lifts Year-End Dividend, Tightens Focus on Stable Payouts
May 14, 2026
Sanwa Holdings has proposed raising its year-end cash dividend to 68 yen per share for the fiscal year ended March 31, 2026, up from 59 yen a year earlier, bringing the annual dividend to 130 yen compared with 106 yen previously. The total year-en...
Sanwa Holdings Targets Record Profit and Boosts Shareholder Returns Despite Weak Markets
May 14, 2026
Sanwa Holdings reported that in fiscal 2025, consolidated sales and net income surpassed its forecast, while operating and ordinary profit came in below expectations, with strong profit performance in Japan offset by weaker results in North Americ...
Sanwa Holdings Lifts Dividend as Profit Rises Despite Flat Sales
May 14, 2026
Sanwa Holdings reported flat full-year revenue of ¥660.7 billion for the year ended March 2026, with operating and ordinary profit edging slightly lower, but profit attributable to owners of the parent rising 3.9% as earnings per share climbe...
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.