Aoyama Zaisan Networks Co., Ltd. (8929) AI Stock Analysis

Aoyama Zaisan Networks Co., Ltd.

(TSE/TYO:8929)

Select Model

Rating:62Neutral

Price Target:JPY 1,515.00▲(20.14% Upside)

Action:reiterated

Date:08/06/26

The stock scores 62, reflecting a mixed picture. The company's strong balance sheet and attractive valuation (low P/E, high yield) provide support, but recent revenue decline, cash flow weakness, and bearish technicals pose near-term risks. The overall outlook is neutral with a slight positive bias due to valuation.

Positive Factors

Improving ProfitabilityHigher margins and steady multi-year net income growth indicate improving operating efficiency and earnings resilience. This supports the company’s ability to remain profitable across market cycles, although future performance still depends on transaction activity.

Negative Factors

Material Revenue VolatilityThe sharp change in annual revenue indicates meaningful sensitivity to property-market demand and transaction timing. Such volatility makes forward earnings less predictable and could pressure margins and capital allocation if weaker transaction volumes persist.

Aoyama Zaisan Networks Co., Ltd. (8929) vs. iShares MSCI Japan ETF (EWJ)

Market Cap: JPY 30.68B
Dividend Yield: 4.44%
Average Volume (3M): 60.23K
Price to Earnings (P/E): 11.5
Beta (1Y): 0.32
Revenue Growth: -30.85%
EPS Growth: 7.21%
Country: Japan
Employees: 398
Sector: General
Sector Strength: 55
Industry: Real Estate - Services

Aoyama Zaisan Networks Co., Ltd. Business Overview & Revenue Model

Company Description

Operating predominantly in Japan, Aoyama Zaisan Networks Company, Limited delivers specialized real estate consulting services. Additionally, it provides expert advice in corporate finance and individual wealth management, and the firm also manages a...

How the Company Makes Money

The company primarily earns revenue from fees and commissions generated when it intermediates real estate transactions (e.g., facilitating the sale/purchase of properties). Additional earnings may come from ancillary services connected to those trans...

Aoyama Zaisan Networks Co., Ltd. Financial Statement Overview

Summary

Revenue has grown significantly from 2019 to 2025, though declined 10.7% in the latest year. Balance sheet is strong with low debt and high ROE. Operating cash flow dropped sharply, raising concerns. Overall moderate financial health.

Income Statement

65Positive

Balance Sheet

80Positive

Cash Flow

45Neutral

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	32.35B	41.78B	45.62B	36.10B	35.95B	24.21B
Gross Profit	7.54B	7.88B	6.74B	6.05B	5.39B	4.01B
EBITDA	4.02B	4.39B	3.70B	3.50B	2.86B	2.40B
Net Income	2.64B	2.75B	2.43B	2.06B	1.69B	1.48B
Balance Sheet
Total Assets	30.84B	26.28B	22.39B	23.64B	21.76B	17.51B
Cash, Cash Equivalents and Short-Term Investments	15.64B	14.10B	13.08B	14.70B	12.80B	10.87B
Total Debt	9.91B	6.21B	5.97B	8.17B	8.13B	6.59B
Total Liabilities	18.43B	14.56B	12.57B	14.05B	13.55B	10.38B
Stockholders Equity	12.38B	11.68B	9.80B	9.55B	8.30B	7.12B
Cash Flow
Free Cash Flow	0	854.00M	6.61B	2.46B	2.10B	2.23B
Operating Cash Flow	0	903.00M	6.66B	2.49B	2.22B	2.39B
Investing Cash Flow	0	901.00M	-2.66B	212.00M	-1.24B	-621.04M
Financing Cash Flow	0	-888.00M	-5.77B	-858.00M	862.00M	-384.74M

Aoyama Zaisan Networks Co., Ltd. Technical Analysis

Technical Analysis SentimentNegative

Last Price1261.00

Price Trends

50DMA1344.34Negative

100DMA1307.57Negative

200DMA1335.06Negative

Market Momentum

MACD-18.29Positive

RSI32.81Neutral

STOCH15.87Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:8929, the sentiment is Negative. The current price of 1261.00 is below the 20-day moving average (MA) of 1303.35, below the 50-day MA of 1344.34, and below the 200-day MA of 1335.06, indicating a bearish trend. The MACD of -18.29 indicates Positive momentum. The RSI at 32.81 is Neutral, neither overbought nor oversold. The STOCH value of 15.87 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:8929.

Aoyama Zaisan Networks Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

JP:8929 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
JP:6532	88Outperform	JPY 1.77T	40.90	―	0.99%	32.48%	24.82%
JP:9644	81Outperform	JPY 22.51B	18.78	―	4.26%	13.97%	21.04%
JP:7033	81Outperform	JPY 27.52B	12.09	―	1.95%	―	―
JP:4792	67Neutral	JPY 32.68B	11.63	―	4.53%	20.39%	40.37%
JP:8929	62Neutral	JPY 31.76B	11.47	―	4.44%	-30.85%	7.21%
JP:9236	60Neutral	JPY 1.76B	25.46	―	0.78%	36.80%	―
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%

* General Sector Average

Performance Comparison

JP:8929 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
JP:8929	Aoyama Zaisan Networks Co., Ltd.	1261.00	-655.40	-34.20%
JP:4792	YAMADA Consulting Group Co., Ltd.	1701.00	16.77	1.00%
JP:6532	BayCurrent Consulting, Inc.	11630.00	4753.05	69.12%
JP:7033	Management Solutions Co., Ltd.	1637.00	336.86	25.91%
JP:9236	Japan M&A Solution Incorporated	1275.00	289.07	29.32%
JP:9644	TANABE CONSULTING GROUP CO. LTD	658.00	-6.20	-0.93%

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 06, 2026

Aoyama Zaisan Networks Co., Ltd. AI Stock Analysis