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Dawn Corporation
(2303)
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Rating:75Outperform
Price Target:
¥1,405.00
▼(-42.96% Downside)
Action:Reiterated
Date:07/11/26
The score is driven primarily by excellent financial strength (high margins, strong cash conversion, and a debt-free balance sheet). This is partially offset by weak technical conditions (trading below key moving averages with negative MACD and subdued RSI), while valuation remains supportive with a reasonable P/E and a moderate dividend yield.
Positive Factors
Debt-free Balance Sheet
A zero-debt balance sheet materially reduces financial risk and preserves strategic optionality. This durability lets the company fund R&D, dividends, or acquisitions without refinancing pressure, cushioning downturns and supporting long-term investment and capital allocation flexibility.
Negative Factors
Year-to-year Variability
Material variability in annual revenue and cash flow reduces forecast reliability and complicates multi-year planning. This structural unpredictability can hamper consistent reinvestment, makes performance more sensitive to single-year outcomes, and raises execution risk for strategic initiatives.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-free Balance Sheet
A zero-debt balance sheet materially reduces financial risk and preserves strategic optionality. This durability lets the company fund R&D, dividends, or acquisitions without refinancing pressure, cushioning downturns and supporting long-term investment and capital allocation flexibility.
Read all positive factors
Dawn Corporation (2303) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥8.12B
Dividend Yield0.99%
Average Volume (3M)7.70K
Price to Earnings (P/E)16.0
Beta (1Y)0.52
Revenue Growth5.34%
EPS Growth14.01%
CountryJP
Employees63
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)76.28
Shares Outstanding6,600,000
10 Day Avg. Volume14,780
30 Day Avg. Volume7,700
Financial Highlights & Ratios
PEG Ratio1.18
Price to Book (P/B)2.64
Price to Sales (P/S)4.55
P/FCF Ratio12.13
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
Dawn Corporation Business Overview & Revenue Model
Company Description
Dawn Corp., founded in 1991 and headquartered in Kobe, Japan, specializes in developing and maintaining cloud-based Geographic Information Systems (GIS) throughout the country. Their extensive portfolio features a range of services such as NET119,...
How the Company Makes Money
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Dawn Corporation Financial Statement Overview
Summary
Income Statement
90
Very Positive
Balance Sheet
96
Very Positive
Cash Flow
88
Very Positive
| Breakdown | TTM | May 2025 | May 2024 | May 2023 | May 2022 | May 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.68B | 1.73B | 1.65B | 1.50B | 1.37B | 1.22B |
| Gross Profit | 1.16B | 1.20B | 1.08B | 1.02B | 888.64M | 818.80M |
| EBITDA | 653.90M | 660.85M | 589.51M | 551.99M | 454.22M | 406.84M |
| Net Income | 463.43M | 471.60M | 418.77M | 388.12M | 321.06M | 283.50M |
Balance Sheet | ||||||
| Total Assets | 3.10B | 3.34B | 3.07B | 2.82B | 2.50B | 2.37B |
| Cash, Cash Equivalents and Short-Term Investments | 1.28B | 1.85B | 1.73B | 1.92B | 1.79B | 2.07B |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 219.77M | 355.39M | 323.98M | 334.94M | 270.16M | 229.27M |
| Stockholders Equity | 2.89B | 2.99B | 2.75B | 2.48B | 2.23B | 2.14B |
Cash Flow | ||||||
| Free Cash Flow | 155.93M | 650.25M | 301.18M | 397.07M | 362.85M | 254.40M |
| Operating Cash Flow | 155.54M | 653.46M | 302.56M | 414.66M | 365.69M | 257.07M |
| Investing Cash Flow | -48.56M | -107.64M | -336.79M | -129.51M | -58.83M | -102.67M |
| Financing Cash Flow | -49.77M | -272.57M | -161.19M | -149.18M | -244.50M | -38.37M |
Dawn Corporation Technical Analysis
Negative
2463.00
Price Trends
1302.67
Negative
1332.60
Negative
1287.11
Negative
Market Momentum
-5.50
Negative
45.43
Neutral
14.39
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:2303, the sentiment is Negative. The current price of 2463 is above the 20-day moving average (MA) of 1254.50, above the 50-day MA of 1302.67, and above the 200-day MA of 1287.11, indicating a bearish trend. The MACD of -5.50 indicates Negative momentum. The RSI at 45.43 is Neutral, neither overbought nor oversold. The STOCH value of 14.39 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:2303.
Dawn Corporation Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | ¥8.12B | 16.05 | ― | 0.99% | 5.34% | 14.01% | |
74 Outperform | ¥4.96B | 10.76 | ― | 2.28% | 16.55% | -21.42% | |
72 Outperform | ¥5.83B | 32.94 | ― | ― | 6.84% | -67.70% | |
66 Neutral | ¥8.42B | 7.00 | ― | 1.51% | 4.34% | -10.36% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
60 Neutral | ¥6.51B | 15.63 | ― | ― | 18.87% | ― | |
48 Neutral | ¥7.54B | -72.64 | ― | ― | 16.57% | 26.56% |
* Technology Sector Average
JP:2303
Dawn Corporation
1,242.00
129.82
11.67%
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Dawn Corporation Corporate Events
Dawn Corporation Lifts Earnings, Cash and Dividend as Stock Split Takes Effect
Jul 9, 2026
Dawn Corporation reported non-consolidated net sales of ¥1.73 billion for the fiscal year ended May 31, 2026, up 5.3% year on year, with operating profit rising 14.1% to ¥655 million and profit increasing 12.6% to ¥471 million. Prof...
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.