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First Brothers Co., Ltd.
(3454)
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Rating:65Neutral
Price Target:
¥1,344.00
▲(13.04% Upside)
Action:Reiterated
Date:08/04/26
The score is supported primarily by attractive valuation (low P/E and a moderate dividend yield) and a mildly positive technical trend (price above key longer-term averages with positive MACD). This is tempered by financial quality concerns, mainly elevated leverage and multi-year volatility in revenue and cash flows despite improved recent margins and cash generation.
Positive Factors
Rising profitability margins
Sustained higher gross and operating margins indicate the company can convert revenue into cash and profits more efficiently. Structurally stronger margins improve resilience to revenue swings, support reinvestment and dividends, and raise long-run earnings power if top-line stabilizes.
Negative Factors
Elevated financial leverage
A debt-to-equity ratio above 2x creates structural refinancing and solvency risk, especially for an asset-management-style business with earnings cyclicality. High leverage reduces strategic flexibility, raises fixed charge burdens, and amplifies downside in adverse markets over multiple quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Rising profitability margins
Sustained higher gross and operating margins indicate the company can convert revenue into cash and profits more efficiently. Structurally stronger margins improve resilience to revenue swings, support reinvestment and dividends, and raise long-run earnings power if top-line stabilizes.
Read all positive factors
First Brothers Co., Ltd. (3454) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥17.74B
Dividend Yield2.77%
Average Volume (3M)45.08K
Price to Earnings (P/E)4.5
Beta (1Y)0.37
Revenue Growth35.31%
EPS Growth171.16%
CountryJP
Employees174
SectorFinancial
Sector Strength70
IndustryInvestment - Banking & Investment Services
Share Statistics
EPS (TTM)282.62
Shares Outstanding14,445,000
10 Day Avg. Volume16,660
30 Day Avg. Volume45,080
Financial Highlights & Ratios
PEG Ratio0.40
Price to Book (P/B)0.63
Price to Sales (P/S)0.86
P/FCF Ratio4.45
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
First Brothers Co., Ltd. Business Overview & Revenue Model
Company Description
Founded in Tokyo, Japan in 2004, First Brothers Co.,Ltd. is a Japanese entity primarily engaged in investment management and investment banking. Its investment management division oversees the entire lifecycle of funds, from their creation and ass...
How the Company Makes Money
Specific, verifiable information about First Brothers Co., Ltd. (3454)’s revenue model, key revenue streams, and material partnerships is not available in the information provided for this request. null...
First Brothers Co., Ltd. Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
44
Neutral
Cash Flow
56
Neutral
| Breakdown | TTM | Nov 2025 | Nov 2024 | Nov 2023 | Nov 2022 | Nov 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 24.19B | 19.06B | 16.87B | 22.27B | 14.28B | 26.69B |
| Gross Profit | 8.85B | 6.45B | 5.10B | 6.98B | 4.09B | 6.84B |
| EBITDA | 9.52B | 5.45B | 4.16B | 6.58B | 3.01B | 5.68B |
| Net Income | 3.96B | 1.75B | 1.42B | 3.19B | 1.18B | 2.80B |
Balance Sheet | ||||||
| Total Assets | 88.33B | 89.83B | 89.14B | 89.94B | 87.64B | 82.55B |
| Cash, Cash Equivalents and Short-Term Investments | 8.81B | 7.93B | 5.32B | 8.16B | 7.64B | 11.11B |
| Total Debt | 54.05B | 56.48B | 58.18B | 58.45B | 59.23B | 53.15B |
| Total Liabilities | 60.12B | 63.58B | 64.23B | 65.51B | 66.00B | 61.74B |
| Stockholders Equity | 28.10B | 26.14B | 24.80B | 24.32B | 21.54B | 20.71B |
Cash Flow | ||||||
| Free Cash Flow | 3.68B | 3.68B | -1.31B | 1.24B | -7.13B | 292.20M |
| Operating Cash Flow | 7.24B | 7.24B | 3.50B | 3.21B | -4.57B | 301.18M |
| Investing Cash Flow | -3.05B | -3.05B | -4.24B | -1.58B | -3.15B | -399.76M |
| Financing Cash Flow | -2.33B | -2.33B | -1.19B | -1.21B | 4.29B | 4.75B |
First Brothers Co., Ltd. Technical Analysis
Positive
1189.00
Price Trends
1220.98
Positive
1203.59
Positive
1196.28
Positive
Market Momentum
11.30
Positive
54.08
Neutral
21.67
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:3454, the sentiment is Positive. The current price of 1189 is below the 20-day moving average (MA) of 1259.45, below the 50-day MA of 1220.98, and below the 200-day MA of 1196.28, indicating a neutral trend. The MACD of 11.30 indicates Positive momentum. The RSI at 54.08 is Neutral, neither overbought nor oversold. The STOCH value of 21.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:3454.
First Brothers Co., Ltd. Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | ¥70.68B | 11.65 | 17.76% | 4.04% | 23.07% | 33.26% | |
75 Outperform | ¥49.24B | 8.53 | 20.32% | 4.42% | 49.56% | 400.07% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
65 Neutral | ¥17.74B | 4.48 | ― | 2.86% | 35.31% | 171.16% | |
60 Neutral | ¥118.09B | 23.36 | 3.72% | 5.07% | -44.57% | -50.48% | |
44 Neutral | ¥20.12B | -17.08 | ― | 1.85% | -17.48% | -207.17% | |
41 Neutral | ¥13.23B | -9.92 | ― | ― | 180.01% | 31.94% |
* Financial Sector Average
JP:3454
First Brothers Co., Ltd.
1,263.00
217.64
20.82%
JP:8624
Ichiyoshi Securities Co
1,591.00
862.59
118.42%
JP:8595
Jafco Co
2,236.00
-193.10
-7.95%
JP:8739
Sparx Group Co
2,474.00
977.83
65.36%
JP:2134
Sun Capital Management Corp.
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-51.00
-68.00%
JP:3772
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1,054.00
51.07
5.09%
First Brothers Co., Ltd. Corporate Events
First Brothers Weighs Enhanced Shareholder Returns as Equity and Dividends Climb
Jul 24, 2026
First Brothers has built a stable business foundation over the past decade, growing shareholders’ equity from 7.8 billion yen to 26.0 billion yen, a 10-year CAGR of 12.8 percent, while remaining profitable every year since listing. The compa...
First Brothers Ties Flexible Dividend Policy to Growing Shareholders’ Equity
Jul 24, 2026
First Brothers reported that shareholders’ equity has continued to grow steadily over the past decade, underlining its strategy that stable and sustainable equity expansion is key to maximizing shareholder value. The company positions its di...
First Brothers Posts Surge in Interim Profit and Lifts Dividend Outlook
Jul 10, 2026
First Brothers reported a sharp improvement in performance for the six months ended May 31, 2026, with net sales nearly doubling to ¥10.5 billion and operating profit more than tripling year on year. Profit attributable to owners of the paren...
First Brothers Corrects Property Valuation Data in Q1 FY11/26 Earnings Summary
Jun 24, 2026
First Brothers has corrected errors in its Q1 FY11/26 financial earnings summary originally disclosed on April 10, 2026, and has updated the version posted on its website. The revisions concern the disclosure of book and market values of propertie...
First Brothers Sees Gordian Capital Lift Stake Above 10%
Jun 24, 2026
First Brothers Co., Ltd. has disclosed a change in its principal shareholder after Gordian Capital Singapore Private Limited filed a large shareholding change report with the Kanto Local Finance Bureau. The Singapore-based asset manager increased ...
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.