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Kyowa Exeo
(1951)
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Rating:72Outperform
Price Target:
¥2,865.00
▲(10.23% Upside)
Action:Reiterated
Date:05/17/26
The score is driven primarily by solid financial performance with strong recent growth and a manageable balance sheet, tempered by inconsistent cash-flow generation. Technicals are supportive with a clear moving-average uptrend and positive MACD, while valuation appears reasonable with a mid P/E and moderate dividend yield.
Positive Factors
Revenue Growth Trend
Sustained top-line growth with a 15.2% increase in FY2026 indicates durable demand for Kyowa Exeo's services. Consistent revenue expansion supports scale advantages, smoother backlog conversion, and provides a basis for stable margins and reinvestment over the medium term.
Negative Factors
Inconsistent Cash Generation
Large swings in operating cash flow and alternating free-cash-flow results point to working-capital and project-timing volatility. This inconsistency can constrain capital allocation, raise refinancing risk in downturns, and limit reliable funding for capex, dividends, or deleveraging.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth Trend
Sustained top-line growth with a 15.2% increase in FY2026 indicates durable demand for Kyowa Exeo's services. Consistent revenue expansion supports scale advantages, smoother backlog conversion, and provides a basis for stable margins and reinvestment over the medium term.
Read all positive factors
Kyowa Exeo (1951) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥522.48B
Dividend Yield2.58%
Average Volume (3M)510.80K
Price to Earnings (P/E)15.7
Beta (1Y)0.63
Revenue Growth17.67%
EPS Growth26.12%
CountryJP
Employees17,751
SectorIndustrials
Sector Strength72
IndustryEngineering & Construction
Share Statistics
EPS (TTM)151.17
Shares Outstanding205,624,830
10 Day Avg. Volume566,030
30 Day Avg. Volume510,796
Financial Highlights & Ratios
PEG Ratio1.03
Price to Book (P/B)1.60
Price to Sales (P/S)0.70
P/FCF Ratio23.21
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)177.73
Revenue Forecast (FY)¥747.48B
Kyowa Exeo Business Overview & Revenue Model
Company Description
EXEO Group, Inc., founded in Tokyo, Japan, in 1946, is a global provider specializing in telecommunications infrastructure, urban development, and advanced system solutions. For telecommunications carriers, the company offers end-to-end services, ...
How the Company Makes Money
Kyowa Exeo primarily makes money by performing contracted engineering and construction work and providing ongoing maintenance services for infrastructure owners and operators. Its revenue model is largely project- and contract-based: (1) Construct...
Kyowa Exeo Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
74
Positive
Cash Flow
56
Neutral
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 787.72B | 670.82B | 614.10B | 627.61B | 594.84B |
| Gross Profit | 114.67B | 100.48B | 89.16B | 81.84B | 84.32B |
| EBITDA | 68.82B | 59.57B | 50.46B | 50.37B | 53.71B |
| Net Income | 31.03B | 26.86B | 20.06B | 22.23B | 27.77B |
Balance Sheet | |||||
| Total Assets | 691.15B | 642.50B | 591.64B | 577.94B | 535.62B |
| Cash, Cash Equivalents and Short-Term Investments | 41.72B | 40.01B | 48.25B | 51.72B | 55.61B |
| Total Debt | 137.24B | 133.84B | 106.43B | 115.72B | 80.62B |
| Total Liabilities | 344.41B | 315.72B | 272.57B | 270.00B | 228.56B |
| Stockholders Equity | 342.13B | 321.14B | 313.21B | 303.36B | 303.56B |
Cash Flow | |||||
| Free Cash Flow | 23.61B | -8.92B | 24.56B | -5.87B | 8.46B |
| Operating Cash Flow | 33.23B | 6.84B | 41.90B | 5.48B | 26.41B |
| Investing Cash Flow | -14.99B | -18.43B | -13.59B | -13.33B | -20.39B |
| Financing Cash Flow | -16.50B | 2.89B | -30.55B | 3.30B | 5.02B |
Kyowa Exeo Technical Analysis
Neutral
2599.00
Price Trends
2700.94
Negative
2754.72
Negative
2642.39
Negative
Market Momentum
-20.36
Negative
48.44
Neutral
41.35
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:1951, the sentiment is Neutral. The current price of 2599 is below the 20-day moving average (MA) of 2619.65, below the 50-day MA of 2700.94, and below the 200-day MA of 2642.39, indicating a neutral trend. The MACD of -20.36 indicates Negative momentum. The RSI at 48.44 is Neutral, neither overbought nor oversold. The STOCH value of 41.35 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for JP:1951.
Kyowa Exeo Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | ¥615.41B | 15.77 | 9.47% | 2.43% | 3.87% | 27.14% | |
77 Outperform | ¥277.74B | 14.61 | 7.85% | 2.72% | 5.94% | -10.93% | |
72 Outperform | ¥522.48B | 15.74 | ― | 2.51% | 17.67% | 26.12% | |
70 Neutral | ¥288.74B | 11.67 | 8.82% | 2.31% | 4.87% | 77.41% | |
65 Neutral | ¥594.82B | 14.57 | ― | 2.15% | 1.48% | 41.27% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% |
* Industrials Sector Average
JP:1951
Kyowa Exeo
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Kyowa Exeo Corporate Events
EXEO Group to Allocate Treasury Shares for New Employee Restricted Share Plan
Aug 7, 2026
EXEO Group has approved the disposal of up to 632,700 treasury shares through a private placement to its Employee Shareholding Association as part of a new restricted share incentive program. The disposal, priced at 2,640.5 yen per share and sched...
Kyowa Exeo Posts Strong Profit Growth in Fiscal 2026 First Quarter
Aug 7, 2026
Kyowa Exeo reported consolidated results for the first quarter of fiscal 2026 showing growth in both orders and profitability compared with the prior-year period. While the release does not specify business segments, the data indicate that the com...
EXEO Group Posts Sharp Profit Growth and Signals Higher Dividends
Aug 7, 2026
EXEO Group reported strong results for the three months ended June 30, 2026, with net sales rising 12.4% year on year to ¥155.7 billion and profit attributable to owners of parent nearly doubling to ¥6.9 billion. Earnings per share incre...
EXEO Group Begins Gradual Execution of Treasury Share Buyback Program
Aug 3, 2026
EXEO Group, Inc. has disclosed the latest status of its treasury share buyback program conducted under the authorization of its Articles of Incorporation and the Companies Act. The company is pursuing market purchases of its own common shares on t...
EXEO Group Allocates Treasury Shares for Expanded Restricted Stock Compensation Plan
Jun 25, 2026
EXEO Group has approved the disposal of 276,100 treasury shares as restricted stock compensation, valued at approximately ¥778 million at a disposal price of ¥2,817.5 per share. The shares will be allocated to directors, operating office...
EXEO Group Completes ¥4 Billion Treasury Share Buyback Program
Jun 24, 2026
EXEO Group, Inc. has completed a share buyback program authorized by its board in February 2026, fully utilizing the approved budget for treasury share acquisition. The company purchased a total of 1,425,100 common shares for approximately 3.999 b...
EXEO Group Details Progress of Share Buyback Program Through May
Jun 1, 2026
EXEO Group has reported the latest status of its ongoing share buyback program, disclosing that it acquired 293,900 of its own shares on the Tokyo Stock Exchange in May for a total of 829.3 million yen. The purchases form part of a broader capital...
EXEO Group Board Rejects Activist Proposal for New Outside Director
May 22, 2026
EXEO Group’s board of directors has decided to oppose a shareholder proposal from Oasis Japan Strategic Fund Y Ltd. to elect an additional outside director at the upcoming ordinary general meeting in June. The company argues that its existin...
EXEO Group Reshapes Leadership Team in Governance Realignment
May 22, 2026
EXEO Group has announced a planned reshuffle of its top management, including the transition of Tetsuya Funabashi from Chairman and Representative Director to Chairman and Director as part of a broader change in the management structure. The moves...
EXEO Group Launches Restricted Share Incentive Plan for Employee Shareholders
May 13, 2026
EXEO Group has approved the introduction of a restricted share incentive program for members of its Employee Shareholding Association, targeting employees across the parent company and its subsidiaries. The scheme will grant restricted shares in t...
EXEO Group Receives Shareholder Proposal for New Outside Director
May 13, 2026
EXEO Group has disclosed that it received a formal shareholder proposal from OASIS JAPAN STRATEGIC FUND LTD. ahead of its 72nd Ordinary General Meeting of Shareholders, scheduled for June 30, 2026. The proposal calls for the election of one outsid...
EXEO Group Unveils 2026–2030 Plan to Expand Beyond Telecoms and Boost Profitability
May 13, 2026
EXEO Group has approved a new medium-term management plan for 2026–2030 under its 2030 Vision, which aims to connect all elements of society through engineering. The company intends to shift from a pure telecommunications construction specia...
EXEO Group Launches Share Buyback to Boost Capital Efficiency and Shareholder Returns
May 13, 2026
EXEO Group’s board has approved a share buyback program to acquire up to 2 million shares of its common stock, representing roughly 0.98% of its outstanding shares excluding treasury stock. The purchases, capped at 4 billion yen and to be ex...
EXEO Group Lifts Dividend and Ups Shareholder Return Targets
May 13, 2026
EXEO Group has proposed raising its year-end dividend for the fiscal year ended March 31, 2026 to 35 yen per share, up from a prior forecast of 33 yen and 32 yen a year earlier, bringing the full-year dividend to 68 yen. The increase, funded from ...
Kyowa Exeo Posts Strong FY2026 Growth and Targets Margin Gains Ahead
May 13, 2026
Kyowa Exeo reported solid growth for the fiscal year ended March 31, 2026, with orders received rising 14% year on year to ¥811.8 billion and net sales increasing 17% to ¥787.7 billion. Gross profit grew 14% and operating profit 8%, whil...
EXEO Group Lifts Profit and Dividends on Strong FY2026 Results
May 13, 2026
EXEO Group reported strong consolidated results for the fiscal year ended March 31, 2026, with net sales rising 17.4% to ¥787.7 billion and profit attributable to owners of parent increasing 15.5% to ¥31.0 billion. Profitability indicato...
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.