ASO INTERNATIONAL INC. (9340) AI Stock Analysis

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ASO INTERNATIONAL INC.

(TSE/TYO:9340)

Select Model

Rating:80Outperform

Price Target:JPY 865.00▲(9.77% Upside)

Action:reiterated

Date:11/11/26

ASO INTERNATIONAL INC. secures a solid score driven by its outstanding financial health, highlighted by a completely debt-free balance sheet and strong cash flow generation. Its attractive valuation, marked by a sensible P/E ratio and a solid dividend yield, further strengthens its investment profile. However, the score is partially offset by short-term bearish technical trends, despite momentum indicators pointing to oversold conditions near long-term support levels.

Positive Factors

Debt-free balance sheetA debt-free balance sheet materially reduces leverage and refinancing risk, preserving financial flexibility through changing conditions. Rising equity also indicates that the company has strengthened its capital base, supporting resilience and the ability to fund operations without relying heavily on borrowings.

Negative Factors

Uneven operating cash conversionUneven operating cash conversion means reported earnings do not translate into operating cash at a consistently high rate. Working-capital or timing swings can make internally generated liquidity less predictable, potentially limiting the reliability of cash available for investment and distributions.

ASO INTERNATIONAL INC. (9340) vs. iShares MSCI Japan ETF (EWJ)

Market Cap: JPY 7.90B
Dividend Yield: 3.30%
Average Volume (3M): 9,820
Price to Earnings (P/E): 14.9
Beta (1Y): 0.45
Revenue Growth: 9.74%
EPS Growth: 17.84%
Country: Japan
Employees: 332
Sector: Healthcare
Sector Strength: 51
Industry: Medical - Instruments & Supplies

ASO INTERNATIONAL INC. Business Overview & Revenue Model

Company Description

Established in 1982 and headquartered in Tokyo, Japan, ASO International, Inc. is a key player in the orthodontics sector, providing a comprehensive array of products and services. The company develops and supplies advanced systems for teeth alignmen...

ASO INTERNATIONAL INC. Financial Statement Overview

Summary

Outstanding financial health marked by consistent top-line growth, a pristine debt-free balance sheet, and robust cash generation, offering immense strategic flexibility.

Income Statement

86Very Positive

Balance Sheet

96Very Positive

Cash Flow

88Very Positive

Financial statement breakdown
Breakdown	TTM	Jun 2025	Jun 2024	Jun 2023	Jun 2023	Jun 2022
Income Statement
Total Revenue	3.88B	4.17B	3.80B	3.19B	3.54B	3.12B
Gross Profit	1.75B	1.84B	1.70B	1.43B	1.59B	1.42B
EBITDA	720.71M	770.19M	706.97M	495.07M	593.08M	551.61M
Net Income	470.10M	518.61M	438.58M	338.16M	386.41M	351.84M
Balance Sheet
Total Assets	3.30B	3.74B	3.33B	2.83B	3.19B	2.19B
Cash, Cash Equivalents and Short-Term Investments	1.89B	1.93B	1.95B	1.73B	1.90B	1.29B
Total Debt	0	0	0	0	0	300.06M
Total Liabilities	364.70M	495.16M	401.87M	360.71M	424.73M	640.16M
Stockholders Equity	2.94B	3.24B	2.93B	2.47B	2.76B	1.55B
Cash Flow
Free Cash Flow	0	423.88M	444.17M	172.24M	386.44M	197.24M
Operating Cash Flow	0	454.64M	473.34M	245.72M	437.15M	246.65M
Investing Cash Flow	0	-761.68M	-150.41M	-90.61M	-179.28M	-67.71M
Financing Cash Flow	0	-224.04M	-265.35M	276.62M	-93.80M	-104.67M

ASO INTERNATIONAL INC. Technical Analysis

Technical Analysis SentimentPositive

Last Price788.00

Price Trends

50DMA794.48Negative

100DMA747.75Positive

200DMA714.53Positive

Market Momentum

MACD-0.92Negative

RSI49.89Neutral

STOCH79.69Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:9340, the sentiment is Positive. The current price of 788.00 is below the 20-day moving average (MA) of 788.80, below the 50-day MA of 794.48, and above the 200-day MA of 714.53, indicating a neutral trend. The MACD of -0.92 indicates Negative momentum. The RSI at 49.89 is Neutral, neither overbought nor oversold. The STOCH value of 79.69 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:9340.

ASO INTERNATIONAL INC. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (51)

Financial Indicators

JP:9340 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
JP:7741	82Outperform	JPY 7.97T	28.68	27.70%	1.25%	13.02%	38.15%
JP:9340	80Outperform	JPY 8.00B	14.90	―	3.30%	9.74%	17.84%
JP:3046	74Outperform	JPY 160.58B	20.42	22.48%	1.52%	14.41%	-6.42%
JP:5889	69Neutral	JPY 54.32B	12.50	―	3.84%	15.36%	5.16%
JP:7780	55Neutral	JPY 146.85B	19.91	7.70%	1.46%	5.05%	50.43%
JP:7743	54Neutral	JPY 23.79B	21.83	―	1.91%	4.13%	-39.39%
Sector *	51Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%

* Healthcare Sector Average

Performance Comparison

JP:9340 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
JP:9340	ASO INTERNATIONAL INC.	788.00	131.20	19.97%
JP:7741	HOYA CORPORATION	24090.00	188.16	0.79%
JP:3046	JINS HOLDINGS	6820.00	488.38	7.71%
JP:7780	Menicon Co	1918.00	590.20	44.45%
JP:5889	Japan Eyewear Holdings Co.,Ltd.	2216.00	269.04	13.82%
JP:7743	Seed Co., Ltd.	786.00	230.66	41.53%

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: Nov 11, 2026

ASO INTERNATIONAL INC. AI Stock Analysis