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Crops Corp. (9428) AI Stock Analysis

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JP:9428

Crops Corp.

(TSE/TYO:9428)

Select Model
Rating:64Neutral
Price Target:JPY 1,455.00▲(8.26% Upside)
Action:downgraded
Date:10/16/26

The score is driven primarily by a stable financial foundation (steady revenue growth, low leverage, and improved recent cash flow) and supportive valuation (low P/E with a moderate dividend). These positives are moderated by weak technical momentum, with the stock trading below key short-term moving averages and a negative MACD.

Positive Factors
Steady Revenue GrowthA multi-year pattern of revenue growth indicates sustained demand for Crops’ telecommunications retail and related services. Continued top-line expansion can support scale, customer reach, and reinvestment, even if profitability remains under pressure.
Negative Factors
Weakening ProfitabilityThe company is not consistently converting revenue and gross-profit growth into stronger earnings. Weaker operating profitability and the 2026 net-income decline could constrain reinvestment and reduce the earnings benefit of continued sales expansion.

Crops Corp. (9428) vs. iShares MSCI Japan ETF (EWJ)

-20%-10%0%10%20%30%JP:9428-5.22%EWJ+15.75%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
Market Cap
JPY 13.10B
Dividend Yield
2.16%
Average Volume (3M)
1,694
Price to Earnings (P/E)
11.4
Beta (1Y)
0.28
Revenue Growth
10.14%
EPS Growth
-19.20%
Country
Japan
Employees
1,364
Sector
Communication Services
Sector Strength
60
Industry
Telecommunications Services

Crops Corp. Business Overview & Revenue Model

Company Description

Headquartered in Nagoya, Japan, Crops Corporation was founded in 1977. Its core business revolves around the retail and support services for mobile phones throughout Japan, where it boasted a network of 46 outlets as of September 1, 2020. Beyond this...

Crops Corp. Financial Statement Overview

Summary

Financials are stable overall: steady revenue growth and a conservatively levered balance sheet support durability, while recent operating/free cash flow improvement is a positive. Offsetting these strengths, profitability and efficiency have weakened over time (net income down in 2026 and ROE trending lower), keeping the score in the mid-range.

Income Statement

62Positive

Balance Sheet

74Positive

Cash Flow

68Positive
Financial statement breakdown
BreakdownTTMMar 2026Mar 2025Mar 2024Mar 2023Mar 2022
Income Statement
Total Revenue69.69B67.50B61.57B54.49B48.38B45.32B
Gross Profit18.49B17.69B15.18B13.68B12.24B11.46B
EBITDA3.54B3.39B2.91B2.76B2.69B2.97B
Net Income1.15B927.00M992.00M1.21B1.18B1.48B
Balance Sheet
Total Assets39.61B40.75B36.41B33.69B30.90B27.68B
Cash, Cash Equivalents and Short-Term Investments10.57B10.64B8.30B7.47B7.01B7.29B
Total Debt3.73B3.42B2.87B2.96B2.81B2.12B
Total Liabilities23.71B24.87B22.06B20.47B18.40B16.28B
Stockholders Equity13.47B13.32B12.24B11.41B10.54B9.44B
Cash Flow
Free Cash Flow02.97B1.29B1.42B1.37B1.76B
Operating Cash Flow03.79B1.42B1.52B1.59B2.23B
Investing Cash Flow0-1.76B-218.00M-268.00M-2.05B-725.00M
Financing Cash Flow0264.00M-475.00M-813.00M56.00M-871.00M

Crops Corp. Technical Analysis

Technical Analysis SentimentNegative
Last Price1344.00

Price Trends

50DMA1437.32Negative
100DMA1385.17Negative
200DMA1390.28Negative

Market Momentum

MACD-17.36Positive
RSI33.14Neutral
STOCH15.40Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:9428, the sentiment is Negative. The current price of 1344.00 is below the 20-day moving average (MA) of 1384.70, below the 50-day MA of 1437.32, and below the 200-day MA of 1390.28, indicating a bearish trend. The MACD of -17.36 indicates Positive momentum. The RSI at 33.14 is Neutral, neither overbought nor oversold. The STOCH value of 15.40 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:9428.

Crops Corp. Peers Comparison

Overall Rating

UnderperformOutperform
Sector (60)

Financial Indicators

JP:9428 against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
JP:3834JP:383475OutperformJPY 15.38B12.69―4.67%1.98%-35.63%
JP:9445JP:944569NeutralJPY 8.50B10.13―4.59%3.75%-8.50%
JP:9428JP:942864NeutralJPY 12.14B11.37―2.16%10.14%-19.20%
JP:9419JP:941963NeutralJPY 3.25B11.02――18.07%69.43%
Sector *60Neutral$48.67B4.58-11.27%4.14%2.83%-41.78%
JP:9424JP:942454NeutralJPY 16.60B61.35――17.19%-74.05%
JP:9421JP:942148NeutralJPY 2.88B-16.73――2.23%-431.79%

* Communication Services Sector Average

Performance Comparison

-20%0%20%JP:9428JP:3834JP:9419JP:9421JP:9424JP:9445Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
JP:9428 and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
JP:9428Crops Corp.1344.00-149.78-10.03%
JP:3834ASAHI Net, Inc.546.00-123.80-18.48%
JP:9419WirelessGate, Inc.297.0033.0012.50%
JP:9421NJ Holdings, Inc.546.00-36.00-6.19%
JP:9424Japan Communications Inc.101.00-45.00-30.82%
JP:9445Forval Telecom, Inc.523.00-29.31-5.31%
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 16, 2026