ASJ Inc. (JP:2351)
:2351
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ASJ Inc.
(2351)
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Rating:61Neutral
Price Target:
¥419.00
▲(24.33% Upside)
Action:DowngradedDate:03/24/26
The score is driven primarily by mixed financial performance—strong margin recovery and a solid balance sheet are tempered by a severe FY2025 revenue drop and negative/volatile free cash flow. Technicals are neutral with mild positive trend support, and valuation is reasonable on earnings but with a low dividend yield.
Positive Factors
Margin Recovery
A material rebound to 9.0% net margin and ~40.8% gross margin shows lasting improvement in pricing mix and cost control. Durable higher margins increase operating leverage when volumes recover, support return on equity, and provide a cushion versus future revenue volatility.
Negative Factors
Severe Revenue Decline
An ~81% revenue decline in FY2025 is a structural concern: it erodes scale economics, suggests client/contract attrition or one-time loss, and makes future margin sustainability and growth visibility uncertain. Restoring prior revenue levels may take multiple quarters or longer.
Read all positive and negative factors
Positive Factors
Negative Factors
Margin Recovery
A material rebound to 9.0% net margin and ~40.8% gross margin shows lasting improvement in pricing mix and cost control. Durable higher margins increase operating leverage when volumes recover, support return on equity, and provide a cushion versus future revenue volatility.
Read all positive factors
ASJ Inc. (2351) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥3.04B
Dividend Yield1.05%
Average Volume (3M)11.88K
Price to Earnings (P/E)12.6
Beta (1Y)0.65
Revenue Growth-4.77%
EPS Growth42.04%
CountryJP
Employees154
SectorTechnology
Sector Strength88
IndustrySoftware - Infrastructure
Share Statistics
EPS (TTM)5.70
Shares Outstanding7,951,100
10 Day Avg. Volume11,420
30 Day Avg. Volume11,876
Financial Highlights & Ratios
PEG Ratio0.09
Price to Book (P/B)0.94
Price to Sales (P/S)0.99
P/FCF Ratio-46.00
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
ASJ Inc. Business Overview & Revenue Model
Company Description
ASJ Inc. (2351) is a multifaceted company specializing in technology solutions and services across various sectors, including information technology, telecommunications, and software development. With a strong emphasis on innovation, ASJ Inc. deve...
ASJ Inc. Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
74
Positive
Cash Flow
48
Neutral
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2021 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.67B | 2.74B | 2.85B | 2.75B | 2.49B | 2.51B |
| Gross Profit | 1.09B | 1.12B | 1.11B | 1.03B | 886.49M | 907.83M |
| EBITDA | 445.46M | 432.65M | 384.69M | 368.37M | -159.62M | 354.37M |
| Net Income | 242.91M | 246.77M | 112.28M | 62.83M | -484.60M | 43.47M |
Balance Sheet | ||||||
| Total Assets | 4.82B | 4.87B | 4.24B | 4.06B | 3.96B | 4.40B |
| Cash, Cash Equivalents and Short-Term Investments | 1.10B | 989.51M | 862.88M | 928.71M | 838.88M | 845.31M |
| Total Debt | 731.46M | 711.44M | 231.36M | 269.87M | 327.49M | 367.67M |
| Total Liabilities | 1.96B | 1.98B | 1.58B | 1.52B | 1.48B | 1.51B |
| Stockholders Equity | 2.86B | 2.89B | 2.66B | 2.54B | 2.49B | 2.89B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -58.94M | 7.62M | 161.84M | -63.95M | 89.07M |
| Operating Cash Flow | 0.00 | 415.82M | 282.31M | 453.18M | 249.71M | 438.30M |
| Investing Cash Flow | 0.00 | -721.93M | -287.48M | -291.34M | -284.17M | -366.73M |
| Financing Cash Flow | 0.00 | 432.96M | -63.19M | -73.50M | 26.20M | 53.32M |
ASJ Inc. Technical Analysis
Positive
337.00
Price Trends
357.62
Positive
330.70
Positive
338.01
Positive
Market Momentum
10.46
Negative
52.80
Neutral
64.45
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:2351, the sentiment is Positive. The current price of 337 is below the 20-day moving average (MA) of 377.09, below the 50-day MA of 357.62, and below the 200-day MA of 338.01, indicating a bullish trend. The MACD of 10.46 indicates Negative momentum. The RSI at 52.80 is Neutral, neither overbought nor oversold. The STOCH value of 64.45 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:2351.
ASJ Inc. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | ¥29.70B | 19.37 | ― | 1.74% | 21.97% | 15.89% | |
74 Outperform | ¥16.63B | 21.91 | ― | 0.17% | 31.39% | 13.12% | |
68 Neutral | ¥20.66B | 9.96 | ― | ― | 17.93% | 91.21% | |
65 Neutral | ¥13.34B | 25.11 | ― | 0.91% | 15.28% | 60.07% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
61 Neutral | ¥3.04B | 12.64 | ― | 1.05% | -4.77% | 42.04% | |
61 Neutral | ¥15.45B | 8.71 | ― | ― | ― | ― |
* Technology Sector Average
JP:2351
ASJ Inc.
382.00
65.53
20.71%
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2,901.00
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2,754.00
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TerraSky Co., Ltd.
1,600.00
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Serverworks Co., Ltd.
1,947.00
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Cyber Security Cloud, Inc.
1,640.00
89.29
5.76%
ASJ Inc. Corporate Events
ASJ Inc. Ends Share Buyback After Falling Short of Authorized Maximum
Apr 2, 2026
ASJ Inc. announced that it has completed a previously authorized share repurchase program, but acquired no additional shares during the final acquisition window from March 1 to March 31, 2026, resulting in no incremental cost in that period. This ...
ASJ Inc. Raises Dividend Forecast With Commemorative Payout After Market Reclassification
Mar 9, 2026
ASJ Inc. has revised its dividend forecast for the fiscal year ending March 31, 2026, introducing a ¥1 per-share commemorative dividend to mark its February 2026 move to the Tokyo Stock Exchange Standard Market and new listing on the Nagoya S...
ASJ Reports No Share Repurchases in February Under Ongoing Buyback Program
Mar 3, 2026
ASJ Inc. reported on the status of its ongoing share buyback program, authorized by its board under Article 459 of the Companies Act, confirming that no shares were repurchased during the February 1–28, 2026 period and therefore no funds wer...
ASJ Inc. Posts Higher Revenue but Lower Profit, Keeps Cautious Outlook
Feb 13, 2026
ASJ Inc. reported modest revenue growth of 1.0% to ¥1.94 billion for the nine months ended December 31, 2025, while operating profit more than doubled to ¥51 million, but profit attributable to owners of the parent fell 21.3% to ¥27...
ASJ Secures Dual Listing on TSE Standard and Nagoya Main Markets to Bolster Growth
Feb 6, 2026
ASJ Inc. has shifted its listing from the Tokyo Stock Exchange Growth Market to the Standard Market and has newly listed on the Nagoya Stock Exchange Main Market, enabling dual listing and trading of its shares on multiple venues. The company expe...
ASJ Inc. Reports No Share Buybacks in January as Ongoing Repurchase Program Nears Quota
Feb 2, 2026
ASJ Inc. reported that, during the January 1–31, 2026 period, it did not repurchase any of its own common shares under the ongoing share buyback program authorized by its Board of Directors, resulting in zero shares acquired and no acquisiti...
ASJ Wins Approval for Dual Listing on TSE Standard and Nagoya Main Markets
Jan 30, 2026
ASJ Inc. has received regulatory approval to transfer its listing to the Tokyo Stock Exchange Standard Market and to obtain a new listing on the Nagoya Stock Exchange Main Market, with dual-listing scheduled to begin on February 6, 2026. The move ...
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.