Company DescriptionKokuyo Co., Ltd. manufactures, purchases, and sells stationery and office furniture products in Japan. It also offers space design and consultation services. The company was founded in 1905 and is headquartered in Osaka, Japan.

How the Company Makes Money

Kokuyo Co Financial Statement Overview

Summary

Kokuyo Co demonstrates strong revenue growth with a steady increase from 2020 to TTM 2025 and robust gross profit margins. The balance sheet reflects a solid financial structure with low leverage, and the return on equity is stable. Although cash flow generation has recently dipped, the company's financial health remains strong overall.

Income Statement

Very Positive

Kokuyo Co demonstrates strong revenue growth with a steady increase from 2020 to TTM 2025, achieving a significant growth rate of 13.6% from 2022 to 2023. Gross profit margins are consistently robust, maintaining around 39% to 40% over the years. Despite a slight dip in net income in TTM 2025, the company holds a healthy net profit margin average of approximately 6% across the periods, indicating effective cost management.

Balance Sheet

Very Positive

The balance sheet reflects a solid financial structure with a low debt-to-equity ratio of roughly 0.02 in TTM 2025, highlighting minimal leverage. The equity ratio remains strong at around 73%, signifying a healthy proportion of equity financing. The return on equity is stable, averaging around 8% over recent years, indicating efficient use of shareholder funds.

Cash Flow

Positive

Kokuyo Co's cash flow statement shows variability, with a notable decline in operating cash flow in TTM 2025. The free cash flow to net income ratio remains positive, demonstrating adequate free cash generation relative to net income. However, the reduction in free cash flow from 2024 to TTM 2025 indicates potential challenges in cash flow sustainability.

TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Breakdown
Income Statement		Total Revenue
341.78B	338.23B	328.75B	300.93B	320.17B	300.64B
	Gross Profit
135.97B	132.92B	127.39B	116.67B	115.71B	107.39B
	EBIT
23.85B	22.03B	23.82B	19.32B	20.00B	14.81B
	EBITDA
34.92B	42.88B	36.08B	30.45B	28.90B	18.70B
	Net Income Common Stockholders
19.82B	21.79B	19.07B	18.24B	13.70B	8.30B
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
119.59B	132.34B	115.62B	98.46B	101.29B	90.78B
	Total Assets
359.60B	362.96B	358.41B	337.17B	324.58B	320.30B
	Total Debt
4.37B	4.18B	9.24B	9.47B	9.32B	12.96B
	Net Debt
-115.22B	-98.06B	-76.30B	-59.00B	-61.37B	-52.82B
	Total Liabilities
93.13B	98.90B	104.99B	97.42B	94.47B	93.96B
	Stockholders Equity
263.11B	260.55B	251.84B	237.87B	228.47B	224.62B
Cash Flow		Free Cash Flow
4.27B	8.60B	28.39B	3.93B	15.75B	12.59B
	Operating Cash Flow
9.62B	16.38B	34.74B	9.58B	21.79B	19.22B
	Investing Cash Flow
8.02B	12.25B	-3.80B	-3.32B	2.56B	-6.11B
	Financing Cash Flow
-16.44B	-15.62B	-14.44B	-8.99B	-15.06B	-5.95B

Kokuyo Co Peers Comparison

Overall Rating

UnderperformOutperform

Sector (66)

Financial Indicators

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
KOK		€2.03B	18.01	7.55%	2.40%	―	―
7846	80 Outperform	¥155.10B	10.93		2.91%	5.42%	13.99%
7994	80 Outperform	¥218.89B	9.49		4.25%	5.44%	8.71%
7976	73 Outperform	¥108.08B	10.59		2.25%	20.31%	6.00%
7975	70 Neutral	¥3.92B	9.51		2.17%	4.74%	―
Sector *	66 Neutral	$4.50B	12.29	5.40%	248.66%	4.13%	-12.33%
7962	54 Neutral	¥24.60B	165.46		1.62%	1.78%	-46.92%

* Industrials Sector Average

Performance Comparison

DE:KOK

Kokuyo Co

19.40

4.44

29.68%

JP:7846

Pilot Corporation

4,036.00

-221.28

-5.20%

JP:7962

King Jim Co., Ltd.

872.00

-13.77

-1.55%

JP:7975

LIHIT LAB., INC.

1,149.00

-5.61

-0.49%

JP:7976

Mitsubishi Pencil Company, Limited

2,072.00

-354.87

-14.62%

JP:7994

OKAMURA CORP

2,194.00

90.21

4.29%

Glossary

OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.

NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.

UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.

Disclaimer

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