Trial Holdings Inc. (141A) AI Stock Analysis

• Market Cap: ¥378.42B
• Dividend Yield: 0.56%
• Average Volume (3M): 1.03M
• Price to Earnings (P/E): 49.6
• Beta (1Y): 0.28
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: JP
• Employees: 6,529
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Discount Stores
• EPS (TTM): -8.01
• Shares Outstanding: 122,465,700
• 10 Day Avg. Volume: 1,438,280
• 30 Day Avg. Volume: 1,025,323
• PEG Ratio: -1.95
• Price to Book (P/B): 2.24
• Price to Sales (P/S): 0.35
• P/FCF Ratio: -7.35
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 65 Neutral
• Price Target: ¥3,402.00 ▲(9.74% Upside)

The score is primarily driven by mixed financials: solid revenue and margin progress and a generally sound balance sheet are offset by negative operating and free cash flow. Technically, the trend is strong but momentum is overbought, while valuation is a meaningful headwind due to the high P/E and low dividend yield.

Positive Factors

Consistent Revenue Growth

Sustained revenue growth (2.96% most recently) signals the company’s ability to expand its investment returns and scale its portfolio activities. Over 2–6 months this underpins recurring capacity to deploy capital, support portfolio companies, and improve long‑term value creation.

Improving Gross Margins and Stable Operating Margins

An improved gross margin (20.78%) alongside stable EBIT/EBITDA margins points to durable operational efficiency and disciplined cost management across investments. This bolsters cash generation potential from core activities and resilience to margin pressure over the medium term.

Solid Capital Structure and Return on Equity

A solid equity ratio (42%) and a respectable ROE (9.32%) indicate effective use of shareholder capital and a stable capital base. Moderate leverage provides flexibility to finance new investments while limiting financial risk, supporting durable growth and strategic deployment of capital.

Negative Factors

Negative Operating and Free Cash Flow

Recent negative operating and free cash flow point to cash generation weakness that can erode liquidity and force reliance on external financing. Over months this raises funding risk for new investments and dividends and questions the sustainability of reported earnings quality.

Low Net Profit Margin

A low net margin (1.46%) suggests that much of revenue is absorbed by non‑operating costs, financing, or one‑off items, limiting retained earnings. Over time this constrains the company’s ability to self‑fund growth, build reserves, and withstand adverse market cycles.

Rising Total Debt Requires Monitoring

An increased debt level and a rising debt/equity metric, while moderate today, elevate interest and refinancing exposure. If the trend continues it could restrict financial flexibility, raise funding costs, and amplify downside risk during lower cash generation periods.

Trial Holdings Inc. Business Overview & Revenue Model

Company Description

Trial Holdings Inc. operates in the retail, logistics, financial / payment services, and retail tech businesses. The company operates discount-based stores that provide food, living ware, and home appliances. It also offers various solutions utilizing IoT devices, and software services. In addition, the company is involved in the real estate, restaurants, and resort businesses. The company was founded in 1974 and is based in Fukuoka, Japan.

How the Company Makes Money

Trial Holdings Inc. generates revenue primarily through its investment activities. The company earns money by acquiring equity stakes in high-growth potential companies and benefiting from their appreciation in value over time. Key revenue streams include capital gains realized upon the sale of these investments, as well as dividends received from profitable subsidiaries. Additionally, Trial Holdings Inc. may engage in management fees and performance-based fees from funds it operates or manages. Partnerships with venture capital firms and private equity investors further contribute to its earnings, allowing for co-investment opportunities and access to larger pools of capital.

Trial Holdings Inc. Financial Statement Overview

Summary

Trial Holdings Inc. demonstrates strong revenue growth and operational efficiency. However, profitability and cash flow management need improvement, with negative operating and free cash flows indicating liquidity challenges. The balance sheet is robust, but increasing debt levels require attention.

Income Statement

Trial Holdings Inc. has demonstrated consistent revenue growth over the years, with a recent growth rate of 2.96%. The gross profit margin has improved to 20.78%, indicating efficient cost management. However, the net profit margin remains relatively low at 1.46%, suggesting room for improvement in profitability. The EBIT and EBITDA margins are stable, reflecting operational efficiency.

Balance Sheet

The company's debt-to-equity ratio has increased to 0.31, indicating a moderate level of leverage. Return on equity is strong at 9.32%, showcasing effective use of shareholder funds. The equity ratio stands at 42.00%, suggesting a solid capital structure. However, the increase in total debt warrants careful monitoring.

Cash Flow

The cash flow situation is concerning, with negative operating and free cash flows in the latest period. The free cash flow growth rate is negative, indicating cash flow challenges. The operating cash flow to net income ratio is negative, highlighting potential liquidity issues. Improvement in cash flow management is necessary.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	806.59B	806.59B	720.44B	655.48B	597.69B	157.93B
Gross Profit	167.60B	167.60B	144.84B	117.53B	103.49B	26.32B
EBITDA	33.62B	33.74B	30.78B	25.03B	21.58B	5.42B
Net Income	11.75B	11.75B	11.44B	8.08B	7.13B	1.85B
Balance Sheet
Total Assets	300.28B	300.28B	283.63B	200.64B	185.73B	171.44B
Cash, Cash Equivalents and Short-Term Investments	72.33B	72.33B	91.95B	23.90B	27.43B	22.74B
Total Debt	38.58B	38.58B	16.14B	19.61B	24.44B	27.94B
Total Liabilities	171.25B	171.25B	165.44B	132.62B	126.02B	118.65B
Stockholders Equity	126.13B	126.13B	115.68B	65.89B	57.96B	51.47B
Cash Flow
Free Cash Flow	0.00	-38.41B	36.84B	1.70B	9.39B	-7.14B
Operating Cash Flow	0.00	-4.45B	59.50B	18.45B	22.34B	-2.94B
Investing Cash Flow	0.00	-35.89B	-26.00B	-16.77B	-13.49B	-4.72B
Financing Cash Flow	0.00	20.77B	34.50B	-5.19B	-4.32B	-1.34B

Trial Holdings Inc. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 3100.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:141A, the sentiment is Positive. The current price of 3100 is above the 20-day moving average (MA) of 2948.05, above the 50-day MA of 2548.42, and above the 200-day MA of 2381.21, indicating a bullish trend. The MACD of 154.14 indicates Positive momentum. The RSI at 63.65 is Neutral, neither overbought nor oversold. The STOCH value of 37.01 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:141A.

Trial Holdings Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
7646	73 Outperform	¥15.19B	10.16	―	4.01%	-0.83%	367.39%
8203	66 Neutral	¥27.15B	9.28	―	2.89%	6.70%	7.79%
141A	65 Neutral	¥378.42B	49.59	―	0.56%	―	―
2264	65 Neutral	¥334.86B	29.95	―	2.42%	2.33%	-8.76%
3080	64 Neutral	¥10.25B	54.57	―	1.71%	-1.36%	-63.23%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%

Trial Holdings Inc. Corporate Events

Trial Holdings Expands Tokyo Presence with New Store Formats

Trial Holdings Inc. reported a mixed performance with slight fluctuations in sales, customer traffic, and average spending over recent months. The company is actively expanding and converting store formats, notably opening two new ‘TRIAL GO’ stores in Tokyo and converting a SEIYU store to a ‘TRIAL SEIYU’ format, aiming to enhance the shopping experience by combining strengths of both brands. This strategic move is expected to impact the company’s market presence in Tokyo, although the total number of stores remains unchanged.

The most recent analyst rating on (JP:141A) stock is a Hold with a Yen2644.00 price target. To see the full list of analyst forecasts on Trial Holdings Inc. stock, see the JP:141A Stock Forecast page.

TRIAL Holdings Receives Excellence Award in Corporate Disclosure

TRIAL Holdings, Inc. has been recognized for its excellence in corporate disclosure in the Emerging Markets category by the Securities Analysts Association of Japan (SAAJ) in its second year of listing. This accolade highlights the company’s commitment to transparency and effective communication with stakeholders, which may enhance its reputation and investor confidence.

The most recent analyst rating on (JP:141A) stock is a Hold with a Yen2215.00 price target. To see the full list of analyst forecasts on Trial Holdings Inc. stock, see the JP:141A Stock Forecast page.

TRIAL Holdings Reports Significant Sales Growth Amidst Profitability Challenges

TRIAL Holdings, Inc. reported its consolidated financial results for the three months ended September 30, 2025, showing a substantial increase in net sales by 66.8% year-on-year, reaching ¥326,617 million. Despite the rise in sales and EBITDA, the company experienced a net loss attributable to owners of the parent, highlighting challenges in maintaining profitability. The financial position of the company also showed a decrease in the equity-to-asset ratio, indicating a potential area of concern for stakeholders regarding the company’s financial health.

The most recent analyst rating on (JP:141A) stock is a Hold with a Yen2215.00 price target. To see the full list of analyst forecasts on Trial Holdings Inc. stock, see the JP:141A Stock Forecast page.

Trial Holdings Inc. Reports Mixed Sales Performance and Strategic Expansions

Trial Holdings Inc. reported a mixed performance in recent months, with slight fluctuations in sales and customer traffic. The company saw a positive response to its ‘Thanks Sale’ event and the mutual expansion of private brand items with SEIYU stores. The company continues to focus on seasonal merchandise and has opened a new Super Center in Tochigi Prefecture, while also renovating existing locations.

The most recent analyst rating on (JP:141A) stock is a Hold with a Yen2215.00 price target. To see the full list of analyst forecasts on Trial Holdings Inc. stock, see the JP:141A Stock Forecast page.

Trial Holdings Inc. Reports Mixed Performance and Strategic Growth Plans

Trial Holdings Inc. reported mixed performance in recent months, with slight declines in customer traffic but an increase in average spending per customer, leading to stable sales figures. The company continues its strategic growth with new store openings and renovations, while also planning to disclose additional sales growth data starting in 2026, indicating a focus on transparency and expansion.

The most recent analyst rating on (JP:141A) stock is a Hold with a Yen2636.00 price target. To see the full list of analyst forecasts on Trial Holdings Inc. stock, see the JP:141A Stock Forecast page.