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Kokusai Electric Corporation
(6525)
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Rating:62Neutral
Price Target:
¥10,695.00
▲(25.99% Upside)
Action:Reiterated
Date:08/09/26
The score is supported mainly by solid financial performance—healthy margins, improving growth momentum, and a de-risked balance sheet—tempered by uneven cash-flow history and semiconductor-cycle volatility. The rating is further held back by weak-to-mixed technical momentum (negative MACD and trading below key short-term averages) and a demanding valuation (high P/E with a low dividend yield).
Positive Factors
Recurring aftermarket revenue
The installed-base service model adds recurring revenue alongside new equipment sales, helping diversify results across customer investment cycles. As the tool base grows, maintenance, parts, consumables and upgrades can support customer retention and provide a durable source of potentially higher-margin revenue.
Negative Factors
Semiconductor capital-cycle exposure
Dependence on chipmaker and foundry capital spending makes revenue sensitive to the timing of fab construction and technology upgrades. Even with strong products, customers can defer equipment purchases during industry downturns, creating durable volatility in orders, revenue and operating earnings.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring aftermarket revenue
The installed-base service model adds recurring revenue alongside new equipment sales, helping diversify results across customer investment cycles. As the tool base grows, maintenance, parts, consumables and upgrades can support customer retention and provide a durable source of potentially higher-margin revenue.
Read all positive factors
Kokusai Electric Corporation (6525) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥2.40T
Dividend Yield0.51%
Average Volume (3M)7.78M
Price to Earnings (P/E)67.5
Beta (1Y)1.84
Revenue Growth14.73%
EPS Growth17.69%
CountryJP
Employees2,609
SectorGeneral
Sector StrengthN/A
IndustrySemiconductors
Share Statistics
EPS (TTM)149.37
Shares Outstanding237,549,710
10 Day Avg. Volume8,537,020
30 Day Avg. Volume7,775,353
Financial Highlights & Ratios
PEG Ratio-2.35
Price to Book (P/B)5.33
Price to Sales (P/S)4.97
P/FCF Ratio33.36
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥11,992.73Price Target Upside41.27% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering11
EPS Forecast (FY)247.25
Revenue Forecast (FY)¥341.25B
Kokusai Electric Corporation Business Overview & Revenue Model
Company Description
Kokusai Electric Corporation is a global enterprise dedicated to the development, fabrication, sale, servicing, and upkeep of machinery vital for semiconductor production. Its extensive product catalog encompasses sophisticated deposition and trea...
How the Company Makes Money
Kokusai Electric primarily makes money by selling semiconductor manufacturing equipment to chipmakers, foundries, and other semiconductor device manufacturers. Revenue is generated from (1) new equipment sales, where customers purchase capital equ...
Kokusai Electric Corporation Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
82
Very Positive
Cash Flow
71
Positive
| Breakdown | TTM | Mar 2025 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 258.70B | 235.08B | 238.93B | 180.84B | 245.72B | 245.43B |
| Gross Profit | 105.27B | 96.81B | 101.74B | 68.00B | 93.97B | 100.36B |
| EBITDA | 63.09B | 56.47B | 64.85B | 42.03B | 67.28B | 80.61B |
| Net Income | 34.88B | 30.10B | 36.00B | 22.37B | 40.30B | 51.34B |
Balance Sheet | ||||||
| Total Assets | 370.89B | 359.66B | 341.51B | 375.43B | 373.54B | 356.53B |
| Cash, Cash Equivalents and Short-Term Investments | 56.97B | 56.54B | 44.76B | 92.62B | 106.05B | 108.40B |
| Total Debt | 50.39B | 49.87B | 60.18B | 93.02B | 99.21B | 123.19B |
| Total Liabilities | 145.99B | 140.39B | 145.34B | 188.04B | 212.66B | 237.01B |
| Stockholders Equity | 224.90B | 219.27B | 196.17B | 187.39B | 160.88B | 119.52B |
Cash Flow | ||||||
| Free Cash Flow | 40.19B | 35.06B | 12.99B | -8.59B | 23.18B | 70.51B |
| Operating Cash Flow | 56.01B | 48.80B | 38.48B | 2.94B | 29.99B | 73.61B |
| Investing Cash Flow | -19.53B | -16.95B | -27.71B | -11.95B | -7.83B | -3.35B |
| Financing Cash Flow | -23.54B | -21.51B | -58.11B | -6.31B | -25.11B | -3.51B |
Kokusai Electric Corporation Technical Analysis
Positive
8489.00
Price Trends
8637.49
Positive
8824.48
Positive
7408.15
Positive
Market Momentum
414.90
Negative
61.44
Neutral
55.60
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:6525, the sentiment is Positive. The current price of 8489 is below the 20-day moving average (MA) of 9221.00, below the 50-day MA of 8637.49, and above the 200-day MA of 7408.15, indicating a bullish trend. The MACD of 414.90 indicates Negative momentum. The RSI at 61.44 is Neutral, neither overbought nor oversold. The STOCH value of 55.60 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:6525.
Kokusai Electric Corporation Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
82 Outperform | ¥29.03T | 65.71 | 58.91% | 0.16% | 36.20% | 104.76% | |
77 Outperform | ¥3.09T | 34.65 | 18.49% | 0.88% | -5.60% | -10.68% | |
74 Outperform | ¥28.96T | 43.55 | 30.21% | 3.54% | 8.25% | 16.50% | |
69 Neutral | ¥4.38T | 56.29 | 34.29% | 0.68% | -8.35% | -8.08% | |
67 Neutral | ¥6.67T | 45.66 | 26.19% | 0.89% | 15.20% | 17.70% | |
62 Neutral | ¥2.40T | 67.55 | ― | 0.51% | 14.73% | 17.69% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
JP:6525
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Kokusai Electric Corporation Corporate Events
Kokusai Electric Flags FX Risks and KPIs in Q1 FY2027 Briefing
Aug 6, 2026
Kokusai Electric released a first-quarter financial briefing for the fiscal year ending March 2027, outlining its use of adjusted operating profit and adjusted quarterly net income as key performance indicators to track business trends and corpora...
Kokusai Electric Lifts Earnings and Dividend Outlook on AI-Driven Chip Demand
Aug 6, 2026
Kokusai Electric raised its consolidated earnings forecasts for the second quarter ending September 2026 and the full fiscal year to March 2027, citing stronger-than-expected demand for semiconductor production equipment. Revenue, operating profit...
Kokusai Electric Lifts Forecasts as Semiconductor Equipment Demand Boosts Q1 Earnings
Aug 6, 2026
Kokusai Electric Corporation is a Japan-based manufacturer of semiconductor production equipment listed on the Tokyo Stock Exchange. The company supplies tools and solutions used in chip fabrication processes, positioning itself in the global semi...
Kokusai Electric Completes ¥5.3 Billion Share Buyback and Plans Cancellation
Jul 28, 2026
Kokusai Electric has completed a share repurchase program authorized in May 2026, buying back 565,900 common shares on the Tokyo Stock Exchange for a total of about ¥5.3 billion. The company plans to retire all of these treasury shares on Aug...
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.