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Heiwa Paper Co., Ltd.
(9929)
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Rating:53Neutral
Price Target:
¥473.00
▲(0.64% Upside)
Action:Reiterated
Date:08/18/26
The score is held back primarily by weak and unstable profitability (thin recent margins and soft revenue) and volatile historical free cash flow, despite a conservative balance sheet. Technicals are broadly neutral with slightly weak momentum, while valuation is a headwind due to a high P/E that is only partly offset by a moderate dividend yield.
Positive Factors
Conservative leverage and stable equity
Low leverage and stable equity provide resilience for a distribution business exposed to inventory and working-capital needs. This financial flexibility can help Heiwa Paper absorb operating volatility and continue serving customers without excessive debt pressure.
Negative Factors
Very thin profitability
Extremely thin operating and net margins leave limited protection against procurement-cost increases, pricing pressure or logistics inflation. Small changes in gross spread or operating expenses could therefore materially affect earnings and shareholder returns.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative leverage and stable equity
Low leverage and stable equity provide resilience for a distribution business exposed to inventory and working-capital needs. This financial flexibility can help Heiwa Paper absorb operating volatility and continue serving customers without excessive debt pressure.
Read all positive factors
Heiwa Paper Co., Ltd. (9929) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥4.55B
Dividend Yield2.55%
Average Volume (3M)2.01K
Price to Earnings (P/E)39.7
Beta (1Y)0.16
Revenue Growth0.11%
EPS Growth14.91%
CountryJP
Employees188
SectorBasic Materials
Sector Strength58
IndustryPaper, Lumber & Forest Products
Share Statistics
EPS (TTM)8.38
Shares Outstanding10,116,917
10 Day Avg. Volume2,120
30 Day Avg. Volume2,013
Financial Highlights & Ratios
PEG Ratio-1.68
Price to Book (P/B)0.42
Price to Sales (P/S)0.27
P/FCF Ratio7.99
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)N/A
Revenue Forecast (FY)N/A
Heiwa Paper Co., Ltd. Business Overview & Revenue Model
Company Description
Heiwa Paper Co., Ltd., founded in 1946 and based in Tokyo, Japan, operates as a global paper trading enterprise. The company's activities involve the import, development, sale, and export of a diverse array of paper types. Its portfolio encompasse...
How the Company Makes Money
Heiwa Paper makes money mainly through the sale and distribution of paper and related materials. Its core revenue model is wholesale distribution: it procures paper products from manufacturers, holds and manages inventory and logistics, and sells ...
Heiwa Paper Co., Ltd. Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
72
Positive
Cash Flow
55
Neutral
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 15.80B | 16.03B | 16.12B | 16.07B | 15.62B |
| Gross Profit | 3.10B | 3.11B | 3.18B | 3.13B | 2.82B |
| EBITDA | 251.86M | 304.78M | 272.51M | 241.09M | 262.90M |
| Net Income | 78.63M | 117.03M | 136.33M | 874.80M | 87.26M |
Balance Sheet | |||||
| Total Assets | 17.77B | 18.17B | 19.04B | 17.78B | 15.90B |
| Cash, Cash Equivalents and Short-Term Investments | 2.22B | 2.67B | 2.84B | 3.07B | 3.32B |
| Total Debt | 1.83B | 2.45B | 2.46B | 2.41B | 2.15B |
| Total Liabilities | 7.53B | 8.26B | 8.94B | 8.37B | 7.37B |
| Stockholders Equity | 10.25B | 9.92B | 10.10B | 9.41B | 8.53B |
Cash Flow | |||||
| Free Cash Flow | 533.05M | -264.78M | 96.00M | -1.13B | 228.18M |
| Operating Cash Flow | 1.05B | 260.77M | 122.83M | 121.11M | 234.00M |
| Investing Cash Flow | -383.85M | -554.34M | -13.21M | -408.28M | -13.88M |
| Financing Cash Flow | -838.28M | -171.47M | -344.65M | 43.13M | -123.12M |
Heiwa Paper Co., Ltd. Technical Analysis
Positive
470.00
Price Trends
468.84
Positive
466.69
Positive
462.21
Positive
Market Momentum
1.19
Negative
51.47
Neutral
50.00
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:9929, the sentiment is Positive. The current price of 470 is above the 20-day moving average (MA) of 469.80, above the 50-day MA of 468.84, and above the 200-day MA of 462.21, indicating a bullish trend. The MACD of 1.19 indicates Negative momentum. The RSI at 51.47 is Neutral, neither overbought nor oversold. The STOCH value of 50.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:9929.
Heiwa Paper Co., Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | ¥3.79B | 6.76 | ― | 4.43% | -7.71% | 6.41% | |
69 Neutral | ¥7.80B | 8.98 | ― | 3.07% | -2.61% | 2.70% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
60 Neutral | ¥8.48B | 13.18 | ― | 3.00% | 1.69% | -33.95% | |
59 Neutral | ¥3.34B | 4.23 | ― | 3.33% | 1.57% | -21.97% | |
54 Neutral | ¥19.88B | 8.08 | ― | 1.59% | 8.88% | ― | |
53 Neutral | ¥4.55B | 39.71 | ― | 2.62% | 0.11% | 14.91% |
* Basic Materials Sector Average
JP:9929
Heiwa Paper Co., Ltd.
471.00
31.64
7.20%
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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.