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AS ONE
(7476)
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Rating:71Outperform
Price Target:
¥2,846.00
▲(15.13% 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 growth
Sustained 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 conversion
Weak 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.
Read all positive and negative factors
Positive Factors
Negative Factors
Steady revenue growth
Sustained 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.
Read all positive factors
AS ONE (7476) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥176.26B
Dividend Yield2.6%
Average Volume (3M)127.93K
Price to Earnings (P/E)18.9
Beta (1Y)0.42
Revenue Growth9.75%
EPS Growth10.17%
CountryJP
Employees758
SectorHealthcare
Sector Strength45
IndustryMedical - Distribution
Share Statistics
EPS (TTM)128.35
Shares Outstanding72,412,540
10 Day Avg. Volume171,810
30 Day Avg. Volume127,933
Financial Highlights & Ratios
PEG Ratio1.47
Price to Book (P/B)2.21
Price to Sales (P/S)1.42
P/FCF Ratio35.65
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)136.49
Revenue Forecast (FY)¥119.45B
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 inst...
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/wholesale...
AS ONE Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
88
Very Positive
Cash Flow
62
Positive
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 110.70B | 103.75B | 95.54B | 91.42B | 86.95B |
| Gross Profit | 33.47B | 31.32B | 29.25B | 28.45B | 25.54B |
| EBITDA | 15.05B | 13.64B | 12.65B | 13.32B | 12.18B |
| Net Income | 9.18B | 8.23B | 7.50B | 8.11B | 7.20B |
Balance Sheet | |||||
| Total Assets | 102.42B | 101.72B | 95.83B | 97.48B | 96.11B |
| Cash, Cash Equivalents and Short-Term Investments | 22.14B | 22.57B | 13.89B | 18.61B | 19.22B |
| Total Debt | 4.75B | 7.21B | 3.65B | 6.27B | 3.19B |
| Total Liabilities | 31.24B | 35.01B | 31.17B | 33.51B | 29.95B |
| Stockholders Equity | 71.18B | 66.71B | 64.66B | 63.97B | 66.15B |
Cash Flow | |||||
| Free Cash Flow | 4.42B | 8.11B | 5.55B | 6.40B | 8.21B |
| Operating Cash Flow | 6.47B | 9.31B | 6.50B | 6.97B | 8.84B |
| Investing Cash Flow | -2.47B | 850.00M | -1.93B | -367.98M | 591.15M |
| Financing Cash Flow | -8.05B | -659.00M | -9.04B | -7.28B | -5.16B |
AS ONE Technical Analysis
Positive
2472.00
Price Trends
2491.92
Positive
2396.08
Positive
2295.21
Positive
Market Momentum
32.85
Positive
54.45
Neutral
20.91
Neutral
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 2472 is below the 20-day moving average (MA) of 2553.85, below 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
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | ¥176.26B | 18.86 | 13.27% | 2.60% | 9.75% | 10.17% | |
67 Neutral | ¥220.32B | 17.39 | 9.11% | 2.37% | 6.54% | -2.44% | |
63 Neutral | ¥471.16B | 11.43 | 7.93% | 2.79% | 4.61% | 43.22% | |
63 Neutral | ¥265.01B | 19.32 | ― | 1.98% | 1.43% | 1.86% | |
58 Neutral | ¥180.17B | 19.53 | 5.76% | 2.97% | 3.04% | -19.26% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
48 Neutral | ¥240.39B | 15.81 | 5.35% | 2.27% | 2.68% | 144.20% |
* Healthcare Sector Average
JP:7476
AS ONE
2,576.00
127.98
5.23%
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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 cancel...
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. Reflecti...
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 operatin...
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 fisca...
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 f...
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 cu...
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...
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 c...
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, whic...
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...
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 ...
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.