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Kandenko Co., Ltd.
(1942)
Kandenko Co., Ltd. (1942) vs. iShares MSCI Japan ETF (EWJ)
Kandenko Co., Ltd. Business Overview & Revenue Model
Kandenko Co., Ltd. Financial Statement Overview
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 708.59B | 671.89B | 598.43B | 541.58B | 495.57B | 556.04B |
| Gross Profit | 100.56B | 92.92B | 71.19B | 60.14B | 56.72B | 55.15B |
| EBITDA | 92.16B | 71.61B | 54.09B | 40.78B | 38.60B | 37.70B |
| Net Income | 47.65B | 42.38B | 27.34B | 21.17B | 20.32B | 20.15B |
Balance Sheet | ||||||
| Total Assets | 578.88B | 603.22B | 567.27B | 487.83B | 470.97B | 457.00B |
| Cash, Cash Equivalents and Short-Term Investments | 69.14B | 60.99B | 66.65B | 65.23B | 72.61B | 63.48B |
| Total Debt | 13.31B | 27.11B | 27.27B | 15.78B | 15.80B | 16.63B |
| Total Liabilities | 192.10B | 222.27B | 221.48B | 179.37B | 177.45B | 177.54B |
| Stockholders Equity | 373.26B | 367.86B | 333.94B | 298.40B | 283.98B | 270.42B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 3.38B | 1.57B | 2.00B | 19.91B | 7.12B |
| Operating Cash Flow | 0.00 | 18.26B | 19.84B | 7.46B | 27.15B | 12.87B |
| Investing Cash Flow | 0.00 | -10.17B | -19.08B | -6.63B | -9.22B | -972.00M |
| Financing Cash Flow | 0.00 | -12.63B | 567.00M | -7.32B | -7.79B | -26.32B |
Kandenko Co., Ltd. Technical Analysis
Kandenko Co., Ltd. Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | ¥95.46B | 12.12 | ― | 3.46% | -3.62% | 9.37% | |
77 Outperform | ¥230.14B | 14.23 | ― | 3.09% | 3.75% | 87.00% | |
76 Outperform | ¥282.69B | 16.21 | 9.20% | 2.78% | 1.31% | 59.20% | |
74 Outperform | ¥748.49B | 22.29 | ― | 2.15% | -5.20% | -1.20% | |
72 Outperform | ¥1.43T | 25.17 | 14.15% | 2.00% | 16.43% | 53.76% | |
68 Neutral | ¥221.53B | 16.91 | ― | 2.87% | 6.66% | 46.38% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% |
Kandenko Co., Ltd. Corporate Events
Kandenko Co., Ltd. has set the terms for a large secondary offering of its common stock, with underwriters purchasing 18,259,400 shares at an underwriting value of 5,843.64 yen and selling them at 6,095 yen per share, for a total selling amount of approximately 111.3 billion yen. An additional over-allotment of 2,738,900 shares, also priced at 6,095 yen, will raise about 16.7 billion yen, with settlement slated for February 24, 2026 and a portion of the shares to be placed with investors in overseas markets such as Europe and Asia, underscoring efforts to broaden liquidity and diversify the company’s investor base.
The selling price was set with a 3.01% discount to the February 16, 2026 reference price of 6,284 yen, a typical move to facilitate demand and smooth execution of the offering. The syndicate cover transaction period will run from February 19 to March 19, 2026, providing underwriters flexibility to stabilize the share price in the market, a key factor for existing shareholders and potential new investors monitoring post-offering trading dynamics.
The most recent analyst rating on (JP:1942) stock is a Hold with a Yen6944.00 price target. To see the full list of analyst forecasts on Kandenko Co., Ltd. stock, see the JP:1942 Stock Forecast page.
Kandenko Co., Ltd. announced a planned overhaul of its top management, including the retirement of Representative Director and Executive Vice President Yuji Ueda, effective April 1, 2026, as part of a transition to a new management structure. Senior Managing Director and Executive Officer Koichi Nakahito will be promoted to director, while director Mitsuru Fujii will retire, with further changes to Audit & Supervisory Board members, including the appointment of Naoki Nakamura and the retirement of Eiichi Oba, scheduled following approval at the late June 2026 shareholders’ meeting.
The reshuffle is aimed at strengthening governance and aligning leadership with Kandenko’s strategic focus on green innovation and social infrastructure. By elevating executives with operational responsibility for these divisions and refreshing its Audit & Supervisory Board, the company signals an intent to reinforce risk management, oversight, and execution capabilities, developments that are likely to be closely watched by shareholders and other stakeholders.
The most recent analyst rating on (JP:1942) stock is a Hold with a Yen6300.00 price target. To see the full list of analyst forecasts on Kandenko Co., Ltd. stock, see the JP:1942 Stock Forecast page.
Kandenko Co., Ltd. has revised the size of its previously announced secondary offering of common stock after conducting a large-scale share repurchase via the Tokyo Stock Exchange’s ToSTNeT-3 system, in which it bought back 5,392,700 of its own shares. Following this transaction, selling shareholder TEPCO Power Grid reduced its planned offering by selling 5,188,900 shares to Kandenko in the repurchase, resulting in a new secondary offering structure of 18,259,400 shares to be sold by TEPCO through underwriters and up to 2,738,900 additional shares potentially offered via over-allotment, with the final size of the over-allotment tranche to be set in mid-February based on market demand. The adjustment reflects an effort to balance TEPCO’s divestment with Kandenko’s capital strategy and may influence the company’s shareholder composition and liquidity in the Prime Market.
The most recent analyst rating on (JP:1942) stock is a Hold with a Yen6091.00 price target. To see the full list of analyst forecasts on Kandenko Co., Ltd. stock, see the JP:1942 Stock Forecast page.
Kandenko Co., Ltd. has completed a major share repurchase via the Tokyo Stock Exchange’s ToSTNeT-3 off-auction system, buying back 5,392,700 common shares for a total of ¥29,999,590,100 on February 2, 2026, thereby effectively using almost all of the ¥30 billion ceiling authorized by its board. The buyback, which concludes the repurchase program approved on January 29, 2026, is part of a broader capital policy announced in April 2025 to enhance shareholder returns, improve capital efficiency and help offset potential supply-demand imbalances in its stock arising from a recently announced secondary offering, signaling continued management focus on shareholder-friendly financial strategy and share price support.
The most recent analyst rating on (JP:1942) stock is a Hold with a Yen6091.00 price target. To see the full list of analyst forecasts on Kandenko Co., Ltd. stock, see the JP:1942 Stock Forecast page.
Kandenko Co., Ltd. has decided to repurchase up to 5,392,700 of its own common shares, equivalent to 2.64% of its outstanding stock excluding treasury shares, through an off-auction own share repurchase trade (ToSTNeT-3) on the Tokyo Stock Exchange at the closing price of ¥5,563 as of January 30, 2026, with the transaction scheduled for 8:45 a.m. on February 2, 2026. This buyback is part of a broader Board-approved program allowing repurchases of up to 7.5 million shares or ¥30 billion between February 2 and February 6, 2026, underscoring the company’s intention to actively manage its capital structure and potentially enhance shareholder value, although execution may be adjusted or partially cancelled depending on market conditions.
The most recent analyst rating on (JP:1942) stock is a Buy with a Yen6267.00 price target. To see the full list of analyst forecasts on Kandenko Co., Ltd. stock, see the JP:1942 Stock Forecast page.
Kandenko reported strong consolidated results for the nine months ended December 31, 2025, with net sales rising 12.3% year on year to ¥511.6 billion and profit attributable to owners of parent jumping 45.0% to ¥46.2 billion, reflecting improved profitability and higher project volumes. Total assets and net assets also increased, lifting the equity ratio to 62.2%, and the company revised its dividend forecast upward for the year ending March 31, 2026 to a total of ¥120 per share, signaling confidence in its earnings strength and balance sheet. In addition, an independent auditor completed an interim review of the consolidated quarterly financial statements in connection with a planned secondary offering of common shares, with no changes required to the figures disclosed, which may support investor confidence and facilitate the equity transaction.
The most recent analyst rating on (JP:1942) stock is a Hold with a Yen6088.00 price target. To see the full list of analyst forecasts on Kandenko Co., Ltd. stock, see the JP:1942 Stock Forecast page.
Kandenko Co., Ltd. has resolved to repurchase up to 7.5 million shares, or about 3.67% of its outstanding common stock excluding treasury shares, for a maximum of ¥30 billion over the period from February 2 to February 6, 2026 via ToSTNeT-3 off-auction trading on the Tokyo Stock Exchange. The buyback forms part of the company’s broader capital policy, which includes a target dividend payout ratio of around 40% and a focus on management that considers cost of capital and share price, and is intended to enhance shareholder returns, improve capital efficiency and offset supply-demand effects from a recently announced secondary offering, with the board stressing its independence from the controlling shareholder TEPCO Power Grid and confirming that independent officers see no governance concerns around the transaction.
The most recent analyst rating on (JP:1942) stock is a Hold with a Yen6088.00 price target. To see the full list of analyst forecasts on Kandenko Co., Ltd. stock, see the JP:1942 Stock Forecast page.
Kandenko has approved a secondary offering of its common shares as part of a broader capital and shareholder base restructuring aimed at enhancing medium- to long-term corporate value. The move follows record-high fiscal 2024 results, which allowed the company to meet its original fiscal 2026 performance targets two years early and subsequently lift its medium-term plan goals. In agreement with major shareholder TEPCO Power Grid, the offering will be used to reduce TEPCO’s stake to about one-third, a level both parties view as optimal, while Kandenko seeks to broaden and diversify its shareholder base, improve share liquidity and address overhang concerns. The company positions this transaction as a way to increase management agility, support further growth investment including M&A, and improve capital efficiency, while maintaining a close business relationship with TEPCO Group to fulfill its role in supporting a stable power supply and strengthening shareholder returns.
The most recent analyst rating on (JP:1942) stock is a Hold with a Yen6088.00 price target. To see the full list of analyst forecasts on Kandenko Co., Ltd. stock, see the JP:1942 Stock Forecast page.
Kandenko reported strong consolidated results for the nine months ended December 31, 2025, with net sales rising 12.3% year on year to ¥511.6 billion and profit attributable to owners of parent surging 45.0% to ¥46.2 billion, supported by significant growth in operating and ordinary profit and a higher equity ratio of 62.2%. Reflecting this robust performance, the company raised its full-year forecast for the fiscal year ending March 31, 2026 to ¥735.0 billion in net sales and ¥61.0 billion in profit attributable to owners of parent, and revised its dividend outlook upward to a total annual dividend of ¥120 per share, signaling confidence in earnings momentum and a commitment to enhanced shareholder returns.
The most recent analyst rating on (JP:1942) stock is a Hold with a Yen6088.00 price target. To see the full list of analyst forecasts on Kandenko Co., Ltd. stock, see the JP:1942 Stock Forecast page.
Kandenko announced that its subsidiary Kawasaki Setsubi Kogyo has revised upward its earnings forecast for the fiscal year ending March 31, 2026, reflecting stronger-than-expected business conditions. Kawasaki Setsubi now projects net sales of ¥38.2 billion, operating profit of ¥5.0 billion, ordinary profit of ¥5.087 billion and net profit of ¥3.732 billion, all significantly higher than its previous forecast and well above the prior year’s results, driven by an increase in construction projects, higher order unit prices, improved profitability on contracted work, and cost reductions from stricter construction management and quality control, signaling a stronger profit outlook for both the subsidiary and the Kandenko group.
The most recent analyst rating on (JP:1942) stock is a Hold with a Yen6088.00 price target. To see the full list of analyst forecasts on Kandenko Co., Ltd. stock, see the JP:1942 Stock Forecast page.
Kandenko Co., Ltd. has sharply revised upward its full-year consolidated and non-consolidated earnings forecasts for the fiscal year ending March 31, 2026, projecting higher net sales and significantly improved profits versus its April 2025 guidance and the prior year. The company cites stronger-than-expected performance in electric power and civil engineering work, underpinned by steady progress in renewable energy construction projects, as well as group subsidiary outperformance, particularly at Kawasaki Setsubi Kogyo. Despite headwinds from higher material and labor costs, Kandenko expects profitability to improve thanks to company-wide productivity enhancement initiatives and increased gains from the sale of cross-shareholdings. In line with the earnings upgrade and its targeted payout ratio of around 40%, the company has also raised its annual dividend forecast by ¥30 to ¥120 per share, signaling a stronger shareholder return profile and confidence in the sustainability of its improved performance.
The most recent analyst rating on (JP:1942) stock is a Hold with a Yen6088.00 price target. To see the full list of analyst forecasts on Kandenko Co., Ltd. stock, see the JP:1942 Stock Forecast page.