Greenland Resort Company Limited (9656) AI Stock Analysis

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Greenland Resort Company Limited

(TSE/TYO:9656)

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Rating:55Neutral

Price Target:JPY 608.00▲(2.01% Upside)

Action:reiterated

Date:11/06/26

The overall score of 55 reflects a company with significant financial headwinds and weak market momentum, partially offset by an attractive valuation. The primary concern is the deteriorating cash flow, with negative free cash flow and declining operating cash coverage of debt. This is compounded by a bearish technical picture, with the stock trading below all major moving averages. The low P/E ratio and solid dividend yield provide some support, but the near-term outlook is cautious.

Positive Factors

Sustained ProfitabilityThe company has maintained positive net income across four consecutive years after pandemic-era losses, indicating that its resort operations can generate earnings through a sustained period. This profitability provides an operating base for reinvestment and supports resilience if performance stabilizes.

Negative Factors

Sharp Revenue ContractionThe steep 2025 revenue decline is a major threat to earnings durability because it reduces the scale over which fixed operating costs can be absorbed. Unless sales recover, the contraction could continue to pressure margins, cash generation, and the company’s ability to sustain prior profitability.

Greenland Resort Company Limited (9656) vs. iShares MSCI Japan ETF (EWJ)

Market Cap: JPY 6.16B
Dividend Yield: 2.52%
Average Volume (3M): 3,790
Price to Earnings (P/E): 11.5
Beta (1Y): 0.05
Revenue Growth: 2.01%
EPS Growth: 26.87%
Country: Japan
Employees: 209
Sector: General
Sector Strength: 55
Industry: Gambling, Resorts & Casinos

Greenland Resort Company Limited Business Overview & Revenue Model

Company Description

Headquartered in Arao, Japan, Greenland Resort Company Limited is a diversified enterprise primarily focused on the tourism and hospitality sectors. The firm oversees a range of leisure and recreational facilities, including amusement parks, golf cou...

Greenland Resort Company Limited Financial Statement Overview

Summary

Financial performance is mixed. The Income Statement (68) shows a return to profitability but stalling revenue. The Balance Sheet (62) reflects moderate leverage but low ROE and rising debt. The Cash Flow Score (45) is a significant concern due to negative free cash flow and declining operating cash flow, indicating potential financial strain.

Income Statement

68Positive

Balance Sheet

62Positive

Cash Flow

45Neutral

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	6.44B	6.45B	6.41B	6.41B	5.73B	5.75B
Gross Profit	1.34B	1.43B	1.45B	1.54B	1.37B	583.08M
EBITDA	970.55M	1.10B	1.12B	1.10B	1.02B	-832.97M
Net Income	491.30M	487.13M	534.23M	463.69M	428.36M	-1.48B
Balance Sheet
Total Assets	20.06B	20.10B	19.10B	18.94B	19.32B	19.54B
Cash, Cash Equivalents and Short-Term Investments	373.98M	506.76M	400.87M	365.56M	697.26M	691.49M
Total Debt	6.44B	6.47B	5.55B	5.55B	6.20B	7.03B
Total Liabilities	9.37B	9.56B	8.93B	9.13B	9.91B	10.48B
Stockholders Equity	10.69B	10.54B	10.18B	9.81B	9.41B	9.06B
Cash Flow
Free Cash Flow	0	-434.61M	239.75M	481.25M	970.30M	759.60M
Operating Cash Flow	0	666.60M	791.60M	1.00B	1.28B	950.57M
Investing Cash Flow	0	-1.26B	-527.45M	-461.64M	-313.88M	-194.37M
Financing Cash Flow	0	694.73M	-228.84M	-870.44M	-964.34M	-541.03M

Greenland Resort Company Limited Technical Analysis

Technical Analysis SentimentNeutral

Last Price596.00

Price Trends

50DMA598.26Negative

100DMA599.55Negative

200DMA601.81Negative

Market Momentum

MACD-1.45Negative

RSI51.16Neutral

STOCH68.89Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:9656, the sentiment is Neutral. The current price of 596.00 is above the 20-day moving average (MA) of 595.30, below the 50-day MA of 598.26, and below the 200-day MA of 601.81, indicating a neutral trend. The MACD of -1.45 indicates Negative momentum. The RSI at 51.16 is Neutral, neither overbought nor oversold. The STOCH value of 68.89 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for JP:9656.

Greenland Resort Company Limited Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

JP:9656 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
JP:4681	74Outperform	JPY 395.85B	16.09	14.76%	1.95%	9.26%	11.17%
JP:5261	71Outperform	JPY 42.44B	18.53	―	1.44%	3.90%	2.03%
JP:6040	67Neutral	JPY 23.44B	10.62	―	1.01%	9.91%	34.53%
JP:9720	63Neutral	JPY 7.28B	17.37	―	0.40%	7.51%	26.37%
JP:9723	62Neutral	JPY 7.61B	3.75	―	0.48%	2.16%	-3.02%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
JP:9656	55Neutral	JPY 6.14B	11.50	―	2.52%	2.01%	26.87%

* General Sector Average

Performance Comparison

JP:9656 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
JP:9656	Greenland Resort Company Limited	596.00	-10.96	-1.81%
JP:4681	Resorttrust	1793.50	-49.35	-2.68%
JP:5261	RESOL HOLDINGS Co., Ltd.	7670.00	1740.33	29.35%
JP:6040	Nippon Ski Resort Development Co., Ltd.	496.00	-16.05	-3.14%
JP:9720	HOTEL NEWGRAND CO., LTD.	6200.00	-464.66	-6.97%
JP:9723	Kyoto Hotel, Ltd.	633.00	12.68	2.04%

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 05, 2026

Greenland Resort Company Limited AI Stock Analysis