Dawn Corporation (JP:2303)
:2303
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Dawn Corporation
(2303)
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Rating:73Outperform
Price Target:
¥1,344.00
▼(-45.43% Downside)
Action:Reiterated
Date:05/28/26
The score is driven primarily by strong financial performance—high margins and a debt-free, steadily compounding balance sheet—partly offset by recent cash flow volatility and a mixed technical picture with negative MACD and otherwise neutral momentum. Valuation is reasonable (P/E ~12.9) but dividend yield is modest.
Positive Factors
High profitability/margins
Sustained high gross and EBIT margins indicate durable pricing power and scalable product economics. Margins of this magnitude support reinvestment, buffer against margin pressure, and enable consistent net profitability that underpins ROE and long-term cash generation.
Negative Factors
Cash-flow durability concerns
A decline in operating cash coverage to ~1.09 signals weaker cash conversion in 2025. Persistent variability in operating cash can constrain reliable reinvestment, dividend policy, or M&A and increases sensitivity to working-capital swings over several quarters to years.
Read all positive and negative factors
Positive Factors
Negative Factors
High profitability/margins
Sustained high gross and EBIT margins indicate durable pricing power and scalable product economics. Margins of this magnitude support reinvestment, buffer against margin pressure, and enable consistent net profitability that underpins ROE and long-term cash generation.
Read all positive factors
Dawn Corporation (2303) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥7.84B
Dividend Yield0.99%
Average Volume (3M)7.70K
Price to Earnings (P/E)16.2
Beta (1Y)0.52
Revenue Growth5.92%
EPS Growth17.13%
CountryJP
Employees63
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)64.16
Shares Outstanding6,600,000
10 Day Avg. Volume14,780
30 Day Avg. Volume7,700
Financial Highlights & Ratios
PEG Ratio1.80
Price to Book (P/B)2.53
Price to Sales (P/S)4.23
P/FCF Ratio23.15
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
86
Very Positive
Balance Sheet
92
Very Positive
Cash Flow
74
Positive
| Breakdown | TTM | May 2024 | May 2023 | May 2022 | May 2021 | May 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.59B | 1.65B | 1.50B | 1.37B | 1.22B | 1.12B |
| Gross Profit | 1.05B | 1.08B | 1.02B | 888.64M | 818.80M | 735.09M |
| EBITDA | 552.00M | 589.51M | 551.99M | 454.22M | 406.84M | 343.90M |
| Net Income | 391.83M | 418.77M | 388.12M | 321.06M | 283.50M | 237.72M |
Balance Sheet | ||||||
| Total Assets | 2.97B | 3.07B | 2.82B | 2.50B | 2.37B | 2.10B |
| Cash, Cash Equivalents and Short-Term Investments | 1.67B | 1.73B | 1.92B | 1.79B | 2.07B | 1.78B |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 231.73M | 323.98M | 334.94M | 270.16M | 229.27M | 220.58M |
| Stockholders Equity | 2.74B | 2.75B | 2.48B | 2.23B | 2.14B | 1.88B |
Cash Flow | ||||||
| Free Cash Flow | 151.45M | 301.18M | 397.07M | 362.85M | 254.40M | 227.76M |
| Operating Cash Flow | 151.37M | 302.56M | 414.66M | 365.69M | 257.07M | 228.54M |
| Investing Cash Flow | -167.52M | -336.79M | -129.51M | -58.83M | -102.67M | -110.78M |
| Financing Cash Flow | -80.14M | -161.19M | -149.18M | -244.50M | -38.37M | -31.86M |
Dawn Corporation Technical Analysis
Negative
2463.00
Price Trends
1357.80
Negative
1341.75
Negative
1285.36
Negative
Market Momentum
-41.85
Positive
37.34
Neutral
32.69
Neutral
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 1274.07, above the 50-day MA of 1357.80, and above the 200-day MA of 1285.36, indicating a bearish trend. The MACD of -41.85 indicates Positive momentum. The RSI at 37.34 is Neutral, neither overbought nor oversold. The STOCH value of 32.69 is Neutral, 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 |
|---|---|---|---|---|---|---|---|
74 Outperform | ¥4.74B | 10.31 | ― | 2.28% | 16.55% | -21.42% | |
73 Outperform | ¥7.84B | 16.16 | ― | 0.99% | 5.92% | 17.13% | |
66 Neutral | ¥8.32B | 4.65 | ― | 1.51% | 4.34% | -10.36% | |
63 Neutral | ¥5.32B | 30.51 | ― | ― | 6.84% | -67.48% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
60 Neutral | ¥5.81B | 13.57 | ― | ― | 18.87% | ― | |
44 Neutral | ¥6.76B | -74.60 | ― | ― | 16.57% | 26.74% |
* Technology Sector Average
JP:2303
Dawn Corporation
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Dawn Corporation Corporate Events
Dawn Corporation Lifts Earnings and Dividend on Strong Nine-Month Results
Apr 9, 2026
Dawn Corporation reported non-consolidated net sales of ¥1.09 billion for the nine months ended February 28, 2026, up 3.5% year-on-year, with operating profit rising 16.2% to ¥412 million and net profit climbing 17.5% to ¥300 millio...
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.