Kokuyo Co (7984) AI Stock Analysis

Kokuyo Co

(TSE/TYO:7984)

Select Model

Rating:67Neutral

Price Target:JPY 935.00▲(8.96% Upside)

Action:downgraded

Date:10/30/26

The overall score is primarily supported by Kokuyo Co's pristine balance sheet, steady revenue growth, and reasonable valuation offering a near 3% dividend yield. However, bearish short-term technical momentum and recent declines in free cash flow generation apply downward pressure on the final rating.

Positive Factors

Steady Revenue GrowthKokuyo is expanding its top line across stationery, office products, and workplace offerings, indicating continued demand for its established portfolio. Sustained revenue growth provides a foundation for scale, supports investment in distribution and products, and can reinforce its position across work and learning markets.

Negative Factors

Sharp Free Cash Flow DeclineThe steep reduction in free cash flow weakens the quality and flexibility of recent earnings, because less cash remains after investment needs. If this persists, Kokuyo may have less capacity to fund growth, return capital, or withstand demand weakness using internally generated resources.

Kokuyo Co (7984) vs. iShares MSCI Japan ETF (EWJ)

Market Cap: JPY 372.50B
Dividend Yield: 2.94%
Average Volume (3M): 822.89K
Price to Earnings (P/E): 16.0
Beta (1Y): 0.63
Revenue Growth: 9.10%
EPS Growth: 8.80%
Country: Japan
Employees: 8,079
Sector: Industrials
Sector Strength: 63
Industry: Business Equipment & Supplies

Kokuyo Co Business Overview & Revenue Model

Company Description

Kokuyo Co., Ltd., together with its subsidiaries, manufactures, purchases, and sells office furniture products in Japan and internationally. The company operates in four segments: Furniture Business, Business Supply Distribution Business, Stationery...

How the Company Makes Money

Kokuyo makes money primarily by selling products and services tied to work and learning environments. Key revenue streams include: (1) Stationery and office supplies: revenue from the sale of notebooks, paper products, binders/files, writing instrume...

Kokuyo Co Financial Statement Overview

Summary

Robust financial health driven by consistent revenue growth and an almost debt-free balance sheet. However, the score is somewhat constrained by recent sharp declines in free cash flow and cash conversion rates.

Income Statement

82Very Positive

Balance Sheet

94Very Positive

Cash Flow

58Neutral

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	384.40B	359.88B	338.23B	328.75B	300.93B	320.17B
Gross Profit	154.63B	144.47B	132.92B	127.39B	116.67B	115.71B
EBITDA	37.90B	39.57B	42.88B	36.08B	30.46B	28.90B
Net Income	22.82B	21.47B	21.79B	19.07B	18.24B	13.70B
Balance Sheet
Total Assets	326.45B	355.05B	362.96B	358.41B	337.54B	324.58B
Cash, Cash Equivalents and Short-Term Investments	81.87B	110.75B	132.34B	115.62B	98.46B	101.29B
Total Debt	3.67B	3.47B	7.14B	11.94B	12.64B	11.77B
Total Liabilities	78.69B	99.59B	98.89B	104.98B	97.92B	94.47B
Stockholders Equity	244.20B	251.68B	260.55B	251.84B	237.74B	228.47B
Cash Flow
Free Cash Flow	2.46B	7.91B	12.01B	30.37B	6.19B	17.80B
Operating Cash Flow	18.02B	14.37B	16.38B	34.74B	9.58B	21.79B
Investing Cash Flow	-14.38B	-4.61B	12.25B	-3.80B	-3.32B	2.56B
Financing Cash Flow	-32.07B	-31.65B	-15.62B	-14.44B	-8.99B	-15.06B

Kokuyo Co Technical Analysis

Technical Analysis SentimentNegative

Last Price858.10

Price Trends

50DMA887.65Negative

100DMA864.77Negative

200DMA859.10Negative

Market Momentum

MACD-3.36Positive

RSI40.02Neutral

STOCH9.48Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:7984, the sentiment is Negative. The current price of 858.10 is below the 20-day moving average (MA) of 873.23, below the 50-day MA of 887.65, and below the 200-day MA of 859.10, indicating a bearish trend. The MACD of -3.36 indicates Positive momentum. The RSI at 40.02 is Neutral, neither overbought nor oversold. The STOCH value of 9.48 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:7984.

Kokuyo Co Peers Comparison

Overall Rating

UnderperformOutperform

Sector (63)

Financial Indicators

JP:7984 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
JP:7976	76Outperform	JPY 188.30B	22.97	―	1.50%	6.19%	14.63%
JP:7846	74Outperform	JPY 257.96B	15.65	―	1.92%	6.53%	13.54%
JP:7994	73Outperform	JPY 216.32B	9.99	―	4.78%	3.30%	4.99%
JP:7984	67Neutral	JPY 372.50B	16.04	9.06%	2.94%	9.10%	8.80%
JP:7962	66Neutral	JPY 20.76B	16.10	―	2.07%	1.71%	268.54%
Sector *	63Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
JP:7975	51Neutral	JPY 3.92B	56.32	―	2.17%	-2.49%	-82.69%

* Industrials Sector Average

Performance Comparison

JP:7984 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
JP:7984	Kokuyo Co	858.10	-12.62	-1.45%
JP:7846	Pilot Corporation	2140.00	631.24	41.84%
JP:7962	King Jim Co., Ltd.	726.00	-90.02	-11.03%
JP:7975	LIHIT LAB., INC.	1154.00	-13.91	-1.19%
JP:7976	Mitsubishi Pencil Company, Limited	3650.00	1572.30	75.67%
JP:7994	OKAMURA CORP	2186.00	13.82	0.64%

Kokuyo Co Corporate Events

Kokuyo Lifts Nine-Month Sales and Profit but Sees Full-Year Earnings Dip

Oct 29, 2026

Kokuyo Co., Ltd. reported consolidated net sales of ¥290.2 billion for the nine months ended September 30, 2026, up 9.2% year on year, with operating income rising 8.8% to ¥23.4 billion and profit attributable to owners of the parent increa...

Kokuyo to Cancel 24 Million Treasury Shares and Tighten Buyback Policy

Oct 29, 2026

Kokuyo Co., Ltd. has resolved to cancel 24 million of its treasury shares, amounting to 5.44% of its total issued shares, with the cancellation scheduled for November 26, 2026, leaving 416,969,852 shares issued. This move reduces the share count and...

Kokuyo to Boost Investment in Singapore SPC to Acquire Vietnam’s Thien Long Group

Sep 30, 2026

Kokuyo has approved a plan to increase its investment in Synergy Investing ASIA Pte. Ltd., a Singapore-based special purpose company wholly owned by Kokuyo, in order to acquire shares in Thien Long Group Corporation and make it a subsidiary. Followin...

Kokuyo Nears ¥15 Billion Cap in Tokyo Share Buyback Program

Sep 11, 2026

Kokuyo Co., Ltd. has completed a share repurchase program authorized by its Board of Directors on March 27, 2026, using open-market purchases on the Tokyo Stock Exchange. The latest tranche, executed between September 1 and 8, 2026, saw the company b...

Kokuyo Nears Ceiling on Aggressive Share Buyback Program

Sep 4, 2026

Kokuyo Co., Ltd. has disclosed the latest results of its ongoing share repurchase program, carried out under Article 459, Paragraph 1 of the Companies Act of Japan and its own Articles of Incorporation. During the August 1 to August 31, 2026 period,...

Kokuyo Advances Shareholder Returns with Ongoing Share Buyback Program

Aug 6, 2026

Kokuyo Co., Ltd. has repurchased 4,355,500 shares of its common stock for approximately ¥3.75 billion between July 1 and July 31, 2026, through open-market transactions on the Tokyo Stock Exchange. This buyback forms part of a broader program au...

Kokuyo Delivers Strong First-Half Results but Sees Earnings Pressure Ahead

Jul 31, 2026

Kokuyo Co., Ltd. reported strong interim consolidated results for the six months ended June 30, 2026, with net sales rising 9.1% year on year to ¥202.1 billion and operating income up 7.6% to ¥19.0 billion. Profit attributable to owners of...

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: Oct 30, 2026

Kokuyo Co AI Stock Analysis