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AS ONE (7476) AI Stock Analysis

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JP:7476

AS ONE

(TSE/TYO:7476)

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Rating:71Outperform
Price Target:JPY 2,846.00â–²(10.48% Upside)
Action:upgraded
Date:08/17/26

The score is primarily driven by strong financial performance (steady growth, resilient margins, and a low-leverage balance sheet), partially offset by inconsistent cash flow conversion. Technicals are mixed with near-term softness despite longer-term support, while valuation is reasonable and aided by a ~2.73% dividend yield.

Positive Factors
Steady revenue growthSustained revenue growth indicates that AS ONE continues to expand demand across its scientific, healthcare, and industrial customer base. Combined with repeat purchasing of laboratory consumables and broad product coverage, this supports a durable foundation for continued sales growth over the next several quarters.
Negative Factors
Uneven cash conversionWeak operating cash conversion in several periods means accounting earnings do not consistently translate into cash available for reinvestment, dividends, or other capital allocation. Although free cash flow is positive, this variability reduces confidence that earnings growth will produce equally dependable financial resources.

AS ONE (7476) vs. iShares MSCI Japan ETF (EWJ)

-20%-10%0%10%20%30%JP:7476+8.24%EWJ+15.87%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
Market Cap
JPY 998.50M
Dividend Yield
2.60%
Average Volume (3M)
140.90K
Price to Earnings (P/E)
18.9
Beta (1Y)
0.42
Revenue Growth
9.75%
EPS Growth
10.17%
Country
Japan
Employees
758
Sector
Healthcare
Sector Strength
51
Industry
Medical - Distribution

AS ONE Business Overview & Revenue Model

Company Description

AS ONE Corporation, a Japanese company with a global presence, specializes in the distribution of a wide array of scientific instruments, research equipment, and essential products for nursing and healthcare. Its diverse catalog of scientific instrum...

How the Company Makes Money

AS ONE primarily makes money by selling and distributing a wide catalog of laboratory, scientific, and medical-related products to institutional and corporate customers. Revenue is generated mainly from (1) product sales as a distributor/wholesaler—e...

AS ONE Financial Statement Overview

Summary

Strong overall fundamentals supported by steady multi-year revenue growth, healthy distributor-level profitability (gross margin ~30%, net margin ~7%–9%), and a conservative balance sheet with low leverage and stable low-teens ROE. The key drag is uneven cash conversion and volatile free cash flow growth, which reduces confidence in consistency despite positive FCF.

Income Statement

78Positive

Balance Sheet

88Very Positive

Cash Flow

62Positive
Financial statement breakdown
BreakdownTTMMar 2026Mar 2025Mar 2024Mar 2023Mar 2022
Income Statement
Total Revenue110.70B110.70B103.75B95.54B91.42B86.95B
Gross Profit33.47B33.47B31.32B29.25B28.45B25.54B
EBITDA15.05B15.05B13.64B12.65B13.32B12.18B
Net Income9.18B9.18B8.23B7.50B8.11B7.20B
Balance Sheet
Total Assets102.42B102.42B101.72B95.83B97.48B96.11B
Cash, Cash Equivalents and Short-Term Investments22.14B22.14B22.57B13.89B18.61B19.22B
Total Debt4.75B4.75B7.21B3.65B6.27B3.19B
Total Liabilities31.24B31.24B35.01B31.17B33.51B29.95B
Stockholders Equity71.18B71.18B66.71B64.66B63.97B66.15B
Cash Flow
Free Cash Flow04.42B8.11B5.55B6.40B8.21B
Operating Cash Flow06.47B9.31B6.50B6.97B8.84B
Investing Cash Flow0-2.47B850.00M-1.93B-367.98M591.15M
Financing Cash Flow0-8.05B-659.00M-9.04B-7.28B-5.16B

AS ONE Technical Analysis

Technical Analysis SentimentPositive
Last Price2576.00

Price Trends

50DMA2491.92Positive
100DMA2396.08Positive
200DMA2295.21Positive

Market Momentum

MACD32.85Positive
RSI54.45Neutral
STOCH20.91Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:7476, the sentiment is Positive. The current price of 2576.00 is above the 20-day moving average (MA) of 2553.85, above the 50-day MA of 2491.92, and above the 200-day MA of 2295.21, indicating a bullish trend. The MACD of 32.85 indicates Positive momentum. The RSI at 54.45 is Neutral, neither overbought nor oversold. The STOCH value of 20.91 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:7476.

AS ONE Peers Comparison

Overall Rating

UnderperformOutperform
Sector (51)

Financial Indicators

JP:7476 against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
JP:7476JP:747671OutperformJPY 176.26B18.8613.27%2.60%9.75%10.17%
JP:2784JP:278470OutperformJPY 471.16B11.437.93%2.79%4.61%43.22%
JP:3360JP:336067NeutralJPY 220.32B17.399.11%2.37%6.54%-2.44%
JP:6849JP:684961NeutralJPY 265.01B19.32―1.98%1.43%1.86%
JP:6523JP:652358NeutralJPY 180.17B19.535.76%2.97%3.04%-19.26%
Sector *51Neutral$7.86B-0.30-43.30%2.27%22.53%-2.21%
JP:8086JP:808641NeutralJPY 240.39B15.815.35%2.27%2.68%144.20%

* Healthcare Sector Average

Performance Comparison

-20%0%20%40%60%JP:7476JP:2784JP:8086JP:3360JP:6523JP:6849Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
JP:7476 and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
JP:7476AS ONE Corporation2576.00127.985.23%
JP:2784Alfresa Holdings Corporation2469.00354.0216.74%
JP:8086Nipro Corporation1363.00-110.97-7.53%
JP:3360Ship Healthcare Holdings 2531.50285.1012.69%
JP:6523PHC Holdings Corp.1415.00438.8844.96%
JP:6849Nihon Kohden Corporation1616.50-129.90-7.44%

AS ONE Corporate Events

AS ONE Cuts Share Count With Treasury Stock Cancellation

Oct 30, 2026

AS ONE Corporation has completed the cancellation of 2,600,000 shares of its own common stock, representing 3.47% of its issued shares prior to the move, following a resolution approved by the Board of Directors earlier in October 2026. The cancellat...

AS ONE Raises FY2027 Dividend Forecast, Reinforcing Progressive Payout Policy

Oct 30, 2026

AS ONE CORPORATION has revised its dividend forecast for the fiscal year ending March 31, 2027, in line with its performance-linked and progressive dividend policies that target a payout ratio of 50 percent or more of adjusted net income. Reflecting...

AS ONE Delivers Strong Interim Results and Lifts Dividend, Updating Full-Year Forecasts

Oct 30, 2026

AS ONE reported solid growth for the six months ended September 30, 2026, with net sales rising 12.1% year on year to ¥57.6 billion and profit attributable to owners of parent increasing 9.2% to ¥4.7 billion, supported by higher operating a...

AS ONE posts higher daily sales and steady segment growth despite fewer September business days

Oct 8, 2026

AS ONE reported a 4.2% year-on-year rise in non-consolidated net sales for September 2026 despite having one fewer business day, with sales per day increasing 9.7% and all three core segments posting revenue growth. For the first half of the fiscal y...

AS ONE to Cancel 2.6 Million Treasury Shares to Align with 5% Policy

Oct 8, 2026

AS ONE CORPORATION’s board has approved the cancellation of 2,600,000 common treasury shares, representing 3.47% of its issued shares, to align with its policy of maintaining treasury stock at about 5% of total outstanding shares. The move foll...

AS ONE books broad-based August sales growth on AI and medical demand

Sep 9, 2026

AS ONE reported that preliminary standalone net sales for August 2026 rose 7.3% year on year, with sales increasing across all three core business segments and daily sales also improving. The company highlighted strong demand from semiconductor custo...

AS ONE Completes Share Buyback Tender Offer and Signals Major Shareholder Change

Sep 8, 2026

AS ONE Corporation has completed a tender offer to repurchase its own common shares, following an August 7, 2026 board resolution to conduct the buyback under Japan’s Companies Act. The tender offer ran from August 10 to September 7, 2026 at a...

AS ONE Launches Discounted Tender Offer to Repurchase Shares From Major Holder

Aug 7, 2026

AS ONE Corporation has approved a tender offer to repurchase up to 2.75 million of its own shares, representing 3.86% of issued and outstanding shares excluding treasury stock, at ¥2,151 per share, a 10% discount to the previous day’s clos...

AS ONE Launches New Share Buyback via Tender Offer to Boost Shareholder Returns

Aug 7, 2026

AS ONE Corporation’s board has approved a fresh share buyback program, resolving to acquire its own shares through a tender offer as part of its capital allocation strategy. The move aligns with its FY2025–FY2027 medium-term plan, which t...

AS ONE Posts 9.8% July Sales Gain as All Segments Grow

Aug 7, 2026

AS ONE reported preliminary standalone net sales for July 2026 of ¥9,788 million, up 9.8% year on year, with sales per business day rising at the same pace and all three core segments contributing to growth. The Scientific Sector grew 9.6% on st...

AS ONE Delivers Strong Quarterly Growth But Expects Flat Full-Year Earnings

Jul 31, 2026

AS ONE reported strong results for the three months ended June 30, 2026, with net sales rising 17.0% year on year to ¥30.0 billion and profit attributable to owners of parent increasing 25.2% to ¥2.85 billion. Earnings per share climbed to...

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: Aug 17, 2026