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ICHINEN HOLDINGS CO., LTD.
(9619)
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Rating:72Outperform
Price Target:
¥2,385.00
▲(12.08% Upside)
Action:Reiterated
Date:05/02/26
The score is driven primarily by strong valuation (low P/E and solid dividend yield) and supportive technical trends (price above major moving averages with positive MACD). Financial performance is steady but moderated by multi-year leverage risk and historically uneven cash-flow consistency, despite recent balance-sheet and cash-flow improvement.
Positive Factors
Steady revenue growth
Consistent multi-year top-line growth indicates durable demand across its automotive-related and other service lines. A resilient revenue base reduces execution risk, supports investment planning, and provides a sustainable platform for margin recovery and longer-term profitability expansion.
Negative Factors
Multi-year elevated leverage history
A multi-year pattern of debt materially above equity increases structural financial risk, especially for a leasing-focused business with asset-backed liabilities. Even with recent improvements, the legacy of high leverage raises sensitivity to downturns and constrains strategic optionality.
Read all positive and negative factors
Positive Factors
Negative Factors
Steady revenue growth
Consistent multi-year top-line growth indicates durable demand across its automotive-related and other service lines. A resilient revenue base reduces execution risk, supports investment planning, and provides a sustainable platform for margin recovery and longer-term profitability expansion.
Read all positive factors
ICHINEN HOLDINGS CO., LTD. (9619) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥52.12B
Dividend Yield3.57%
Average Volume (3M)32.12K
Price to Earnings (P/E)6.8
Beta (1Y)0.72
Revenue Growth4.73%
EPS Growth15.56%
CountryJP
Employees2,031
SectorIndustrials
Sector Strength72
IndustryFinancial - Credit Services
Share Statistics
EPS (TTM)290.18
Shares Outstanding23,762,226
10 Day Avg. Volume29,190
30 Day Avg. Volume32,123
Financial Highlights & Ratios
PEG Ratio0.42
Price to Book (P/B)0.70
Price to Sales (P/S)0.31
P/FCF Ratio11.29
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)291.4
Revenue Forecast (FY)¥169.50B
ICHINEN HOLDINGS CO., LTD. Business Overview & Revenue Model
Company Description
Operating from its headquarters in Osaka, Japan, Ichinen Holdings Co., Ltd. is a multifaceted enterprise founded in 1930. The company engages in a broad spectrum of activities, including automotive leasing, chemical production, parking facility ma...
How the Company Makes Money
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ICHINEN HOLDINGS CO., LTD. Financial Statement Overview
Summary
Income Statement
73
Positive
Balance Sheet
56
Neutral
Cash Flow
60
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 156.54B | 162.25B | 154.92B | 138.25B | 127.82B | 120.64B |
| Gross Profit | 15.06B | 34.13B | 13.74B | 10.48B | 9.23B | 8.39B |
| EBITDA | 29.82B | 31.21B | 29.38B | 33.51B | 26.56B | 25.93B |
| Net Income | 6.86B | 7.65B | 6.66B | 12.25B | 5.92B | 5.65B |
Balance Sheet | ||||||
| Total Assets | 208.46B | 211.60B | 205.37B | 202.61B | 171.89B | 168.51B |
| Cash, Cash Equivalents and Short-Term Investments | 8.03B | 10.64B | 9.16B | 8.37B | 10.15B | 11.04B |
| Total Debt | 109.81B | 107.11B | 108.81B | 107.56B | 96.44B | 97.05B |
| Total Liabilities | 141.90B | 139.45B | 139.97B | 141.60B | 123.51B | 124.83B |
| Stockholders Equity | 65.99B | 71.54B | 64.82B | 60.46B | 48.38B | 43.67B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 4.42B | 1.78B | 3.63B | 909.00M | 2.60B |
| Operating Cash Flow | 0.00 | 9.45B | 4.02B | 5.27B | 2.72B | 5.09B |
| Investing Cash Flow | 0.00 | -4.45B | -2.07B | -16.54B | -1.86B | -4.67B |
| Financing Cash Flow | 0.00 | -3.69B | -1.33B | 9.64B | -1.78B | -1.54B |
ICHINEN HOLDINGS CO., LTD. Technical Analysis
Positive
2128.00
Price Trends
2156.54
Positive
2129.72
Positive
2067.59
Positive
Market Momentum
20.28
Negative
60.67
Neutral
45.89
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:9619, the sentiment is Positive. The current price of 2128 is below the 20-day moving average (MA) of 2194.70, below the 50-day MA of 2156.54, and above the 200-day MA of 2067.59, indicating a bullish trend. The MACD of 20.28 indicates Negative momentum. The RSI at 60.67 is Neutral, neither overbought nor oversold. The STOCH value of 45.89 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:9619.
ICHINEN HOLDINGS CO., LTD. Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | ¥110.73B | 9.59 | ― | 2.85% | 1.06% | -7.68% | |
76 Outperform | ¥15.05B | 7.06 | ― | 3.03% | 6.36% | 41.53% | |
72 Outperform | ¥52.12B | 6.82 | ― | 3.57% | 4.73% | 15.56% | |
65 Neutral | ¥1.22T | 10.95 | ― | 3.37% | 6.51% | 30.59% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
57 Neutral | ¥42.59B | 6.99 | ― | 3.90% | 53.30% | 35.92% | |
51 Neutral | ¥378.71B | 17.71 | ― | 3.62% | 16.26% | -52.33% |
* Industrials Sector Average
JP:9619
ICHINEN HOLDINGS CO., LTD.
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45.69%
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ICHINEN HOLDINGS CO., LTD. Corporate Events
Ichinen Holdings Lifts Earnings and Dividend, Signals Cautious Outlook for FY 2027
May 1, 2026
Ichinen Holdings reported fiscal 2026 consolidated net sales of ¥162.3 billion, up 4.7% year on year, with operating profit rising 6.3% to ¥10.9 billion and profit attributable to owners of parent jumping 14.9% to ¥7.7 billion. Prof...
Ichinen Lifts Full-Year Profit Outlook on Strong Leasing and Used Car Gains
Apr 30, 2026
Ichinen Holdings has revised upward its full-year forecast for the fiscal year ending March 31, 2026, reflecting stronger-than-expected performance across key businesses. The company now projects modestly higher net sales and a notable increase in...
Ichinen Tightens Grip on Taiyo Fertilizer With New Director Lineup
Apr 8, 2026
ICHINEN HOLDINGS has detailed new director appointments at TAIYO FERTILIZER CO., LTD. following its move to turn the equity-method affiliate into a consolidated subsidiary. The appointments draw heavily from senior executives across the ICHINEN gr...
Ichinen Sets New Leadership at Mitsubishi Shoji Agri-Service Ahead of Fertilizer Expansion
Apr 8, 2026
Ichinen Holdings has finalized executive appointments at Mitsubishi Shoji Agri-Service Corporation ahead of its planned acquisition of the company, alongside MC FERTICOM, to make them subsidiaries. The leadership lineup places President and CEO Ma...
Ichinen Holdings Makes Taiyo Fertilizer a Consolidated Subsidiary to Boost Agricultural Business
Apr 3, 2026
ICHINEN HOLDINGS has made TAIYO FERTILIZER CO., LTD., previously an equity-method affiliate, a consolidated subsidiary through additional share acquisition by its unit Nitto FC Co., Ltd. The move also places Nihon Daihoska Co., Ltd., a subsidiary ...
Ichinen Holdings to Acquire Mitsubishi Shoji Agri-Service and MC Ferticom to Strengthen Agricultural Business
Apr 3, 2026
Ichinen Holdings has agreed to acquire Mitsubishi Shoji Agri-Service Corporation and MC Ferticom Co., Ltd., turning them into subsidiaries and bringing seven additional affiliated companies under its umbrella as sub-subsidiaries. The targets speci...
Ichinen Holdings to Book ¥819 Million Extraordinary Gain from Share Sale
Mar 13, 2026
Ichinen Holdings has announced that it will record an extraordinary gain from the sale of a portion of its investment securities in the fiscal year ending March 31, 2026. The move is part of the company’s ongoing effort to reduce its strateg...
ICHINEN Holdings Details 2026 Strategy, FY2025 Plan and Shareholder Return Focus
Feb 9, 2026
ICHINEN HOLDINGS has released presentation materials dated February 9, 2026, outlining its corporate information, business overview, and group strategy, with a focus on strengths, consolidated performance trends, and management policies. The mater...
Ichinen Holdings to Merge Glass Units to Streamline Operations
Feb 9, 2026
Ichinen Holdings has approved a reorganization of its glass-related operations, merging consolidated subsidiary Nisseki Glass Ind. Co., Ltd. into sub-subsidiary Shinsei Glass Ind. Co., Ltd. via an absorption-type merger effective April 1, 2026, wi...
Ichinen Holdings Lifts Dividend Outlook as Nine-Month Profit Climbs
Feb 9, 2026
Ichinen Holdings reported consolidated net sales of ¥121.3 billion for the nine months ended December 31, 2025, up 4.4% year on year, with operating profit rising 2.9% to ¥8.8 billion and profit attributable to owners of parent increasin...
ICHINEN HOLDINGS Raises Dividend Forecast for Fiscal Year Ending March 2026
Feb 9, 2026
ICHINEN HOLDINGS has revised its dividend forecast for the fiscal year ending March 31, 2026, citing recent performance trends and reaffirming shareholder returns as a key management priority. The company now plans a fiscal-year-end dividend of JP...
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.