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Kawai Musical Instruments Manufacturing Co., Ltd.
(7952)
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Rating:58Neutral
Price Target:
¥3,234.00
▼(-3.89% Downside)
Action:Reiterated
Date:08/17/26
The score is held back primarily by weakening fundamentals—shrinking revenue, compressed margins, and especially negative/volatile operating and free cash flow—despite a comparatively solid balance sheet. Technicals are supportive with a strong uptrend, but overbought signals raise near-term risk. Valuation is only fair, with a higher P/E partially offset by a moderate dividend yield.
Positive Factors
Balance Sheet Resilience
Manageable leverage and steadily growing equity provide financial resilience while operating performance is under pressure. This balance-sheet capacity can help Kawai sustain investment, meet obligations, and pursue recovery without relying excessively on additional borrowing.
Negative Factors
Prolonged Revenue Contraction
Three consecutive years of revenue decline point to sustained pressure on demand or market execution rather than a single-period fluctuation. Continued contraction can reduce operating leverage, weaken reinvestment capacity, and make a durable earnings recovery more difficult.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance Sheet Resilience
Manageable leverage and steadily growing equity provide financial resilience while operating performance is under pressure. This balance-sheet capacity can help Kawai sustain investment, meet obligations, and pursue recovery without relying excessively on additional borrowing.
Read all positive factors
Kawai Musical Instruments Manufacturing Co., Ltd. (7952) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥25.78B
Dividend Yield3.17%
Average Volume (3M)14.93K
Price to Earnings (P/E)21.8
Beta (1Y)0.87
Revenue Growth-2.40%
EPS Growth129.98%
CountryJP
Employees2,917
SectorGeneral
Sector StrengthN/A
IndustryLeisure
Share Statistics
EPS (TTM)138.81
Shares Outstanding9,011,560
10 Day Avg. Volume17,700
30 Day Avg. Volume14,930
Financial Highlights & Ratios
PEG Ratio0.12
Price to Book (P/B)0.52
Price to Sales (P/S)0.34
P/FCF Ratio-7.04
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)593.4
Revenue Forecast (FY)¥99.50B
Kawai Musical Instruments Manufacturing Co., Ltd. Business Overview & Revenue Model
Company Description
Kawai Musical Instruments Manufacturing Co., Ltd. manufactures and distributes musical instruments under its prominent Kawai brand, with a particular focus on both acoustic and digital pianos. Beyond instrument production, the company also creates...
How the Company Makes Money
Kawai primarily makes money by selling musical instruments, with pianos as the core of its business. Its main revenue stream comes from the sale of acoustic pianos (e.g., upright and grand pianos) and digital pianos to customers in Japan and inter...
Kawai Musical Instruments Manufacturing Co., Ltd. Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
72
Positive
Cash Flow
28
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 71.36B | 72.05B | 72.92B | 80.19B | 87.77B | 85.70B |
| Gross Profit | 19.45B | 18.74B | 18.30B | 20.71B | 22.82B | 23.48B |
| EBITDA | 2.45B | 2.16B | 2.15B | 4.87B | 6.71B | 8.24B |
| Net Income | 1.19B | 1.14B | 405.00M | 2.78B | 3.67B | 5.05B |
Balance Sheet | ||||||
| Total Assets | 79.58B | 78.88B | 76.04B | 75.37B | 72.04B | 69.38B |
| Cash, Cash Equivalents and Short-Term Investments | 10.03B | 10.76B | 13.30B | 18.23B | 19.32B | 22.66B |
| Total Debt | 11.53B | 11.31B | 9.51B | 8.74B | 9.22B | 10.43B |
| Total Liabilities | 33.58B | 32.13B | 31.50B | 32.23B | 33.57B | 35.82B |
| Stockholders Equity | 46.00B | 46.74B | 44.54B | 42.93B | 38.26B | 33.38B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -3.45B | -3.17B | 405.00M | -1.80B | 4.24B |
| Operating Cash Flow | 0.00 | -630.00M | -1.61B | 1.56B | -530.00M | 5.14B |
| Investing Cash Flow | 0.00 | -3.77B | -2.46B | -1.13B | -1.53B | -1.02B |
| Financing Cash Flow | 0.00 | 1.70B | -951.00M | -1.77B | -2.19B | -1.72B |
Kawai Musical Instruments Manufacturing Co., Ltd. Technical Analysis
Negative
3365.00
Price Trends
3370.30
Negative
3329.60
Negative
3088.22
Negative
Market Momentum
-75.38
Positive
28.66
Positive
5.09
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:7952, the sentiment is Negative. The current price of 3365 is above the 20-day moving average (MA) of 3303.00, below the 50-day MA of 3370.30, and above the 200-day MA of 3088.22, indicating a bearish trend. The MACD of -75.38 indicates Positive momentum. The RSI at 28.66 is Positive, neither overbought nor oversold. The STOCH value of 5.09 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:7952.
Kawai Musical Instruments Manufacturing Co., Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | ¥3.80T | 24.86 | 17.83% | 1.27% | 9.12% | 16.20% | |
80 Outperform | ¥539.90B | 16.77 | 6.72% | 2.14% | 5.28% | 442.85% | |
75 Outperform | ¥178.43B | 11.46 | ― | 3.99% | 4.38% | -13.98% | |
71 Outperform | ¥393.93B | 31.28 | ― | 1.59% | 7.38% | -27.18% | |
64 Neutral | ¥98.58B | 68.38 | ― | 4.49% | 8.43% | -75.93% | |
58 Neutral | ¥25.78B | 21.79 | ― | 3.14% | -2.40% | 129.98% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
JP:7952
Kawai Musical Instruments Manufacturing Co., Ltd.
3,000.00
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21.87%
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Kawai Musical Instruments Manufacturing Co., Ltd. Corporate Events
Kawai Posts First-Quarter Loss but Keeps Profit and Dividend Outlook on Track
Aug 7, 2026
Kawai Musical Instruments reported consolidated net sales of ¥17.1 billion for the quarter ended June 30, 2026, down 3.9% year on year, and remained in the red with an operating loss of ¥256 million and a net loss of ¥116 million. D...
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.