BAROQUE JAPAN LIMITED (3548) AI Stock Analysis

• Market Cap: ¥26.47B
• Dividend Yield: 4.99%
• Average Volume (3M): 65.45K
• Price to Earnings (P/E): 13.9
• Beta (1Y): 0.37
• Revenue Growth: -7.21%
• EPS Growth: -5127.88%
• Country: JP
• Employees: 1,424
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Apparel - Retail
• EPS (TTM): 13.68
• Shares Outstanding: 36,676,300
• 10 Day Avg. Volume: 67,680
• 30 Day Avg. Volume: 65,446
• PEG Ratio: 0.03
• Price to Book (P/B): 1.58
• Price to Sales (P/S): 0.43
• P/FCF Ratio: 15.45
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 32.8
• Revenue Forecast (FY): ¥58.50B

• Rating: 48 Neutral
• Price Target: ¥761.00 ▼(-2.93% Downside)
• Action: Reiterated Date: 10/10/25
• Date: Action: Reiterated 10/10/25

The overall score of 48 reflects a high-risk profile dominated by conflicting financial signals. The most significant factor is the company's severe unprofitability and declining revenue, which presents a major risk. This is partially offset by the company's impressive ability to generate strong free cash flow, providing a crucial financial cushion. The valuation is poor due to negative earnings, and technical indicators suggest a neutral to bearish short-term trend.

Positive Factors

Stable Balance Sheet

A stable balance sheet with a manageable debt-to-equity ratio suggests financial resilience and the ability to sustain operations and invest in growth.

Positive Cash Flow

Consistent positive operating cash flow indicates effective cash management and operational efficiency, supporting long-term business sustainability.

Brand Portfolio and Market Reach

A diverse brand portfolio enhances market reach and customer engagement, providing a competitive edge in the fashion industry.

Negative Factors

Declining Revenue

Declining revenue and net losses indicate challenges in market demand or competitive positioning, which could impact long-term growth prospects.

Profitability Challenges

Negative EBIT and EBITDA margins highlight operational inefficiencies, which may require strategic adjustments to improve profitability.

Asset Decline

A decline in assets can limit the company's ability to leverage resources for growth and may signal underlying operational or market challenges.

BAROQUE JAPAN LIMITED Business Overview & Revenue Model

Company Description

Baroque Japan Limited engages in the retail and wholesale of apparel and accessories in Japan. Its brands include the MOUSSY, SLY, SHEL'TTER, rienda, AZUL BY MOUSY, erie conforto, RODEO CROWNS WIDE BOWL, RODEO CROWNS, ENFÖLD, BLACK BY MOUSSY, STACCATO, RIM.ARK, någonstans, AZUL ENCANTO, y/m, AZUL ENCANTO, LAGUA GEM, HeRIN.CYE, STYLEMIXER, SHEL'TTER GREEN/DELI, R4G, and LILIDA. The company is also involved in brand and trademark management business. It also offers its products through online. As of 28th February 2022, it operated a total of 373 stores, which include 367 domestic stories, including 278 directly managed stores and 89 franchised stores; and 6 overseas stores. The company was formerly known as Baroque Holdings Co., Ltd. and changed its name to Baroque Japan Limited in February 2008. Baroque Japan Limited was founded in 2000 and is headquartered in Tokyo, Japan.

How the Company Makes Money

BAROQUE JAPAN LIMITED generates revenue primarily through the sale of its fashion products across various channels, including both brick-and-mortar retail stores and online platforms. The company benefits from a multi-brand strategy, which allows it to attract a wide range of consumers with differing preferences. Key revenue streams include direct sales from its retail locations, e-commerce sales, and wholesale distribution to other retailers. Additionally, BAROQUE JAPAN may engage in collaborations and partnerships with other brands and designers, enhancing its product offerings and driving sales through limited-edition collections. The company's ability to adapt to market trends and consumer demands plays a significant role in sustaining its revenue growth.

BAROQUE JAPAN LIMITED Financial Statement Overview

Summary

The financial performance score is low due to a stark contrast between profitability and cash generation. The income statement is extremely weak, with a significant net loss and declining revenue. Conversely, the cash flow statement is a major strength, showing a strong turnaround to positive free cash flow. The balance sheet is stable but shows signs of erosion from operational losses, resulting in a mixed but concerning overall picture.

Income Statement

The company's income statement shows significant weakness. For the year ending February 28, 2025, the company reported a net loss of 2.57B, resulting in a negative Net Profit Margin of -4.4%. This is a sharp deterioration from the previous year's profit. Furthermore, revenue declined by 3.5% and both EBIT and EBITDA margins turned negative, indicating severe pressure on operational profitability. The only stable metric is the Gross Profit Margin at 56.9%, but this is heavily overshadowed by the losses at the net level.

Balance Sheet

The balance sheet presents a mixed picture. On the positive side, the company maintains a moderate Debt-to-Equity ratio of 0.51 and a solid Equity Ratio of 45.9%, suggesting its debt level is manageable relative to its equity base. However, there are signs of stress, as shareholder equity has declined significantly due to recent losses. This has resulted in a deeply negative Return on Equity (ROE) of -16.5%, indicating that the company is currently destroying shareholder value. The balance sheet is stable for now but is being weakened by poor operational performance.

Cash Flow

Cash flow is a significant area of strength for the company. Despite reporting a substantial net loss, the company generated a strong positive Operating Cash Flow of 2.20B and Free Cash Flow of 1.60B. This represents a dramatic and positive turnaround from the previous year's negative Free Cash Flow of -1.24B. The ability to generate cash while unprofitable on an accrual basis suggests effective working capital management or significant non-cash expenses, providing a crucial financial cushion.

Breakdown	TTM	Feb 2024	Feb 2023	Feb 2022	Feb 2021	Feb 2021
Income Statement
Total Revenue	56.95B	58.18B	60.29B	58.84B	59.14B	50.59B
Gross Profit	32.60B	33.10B	34.26B	33.41B	32.78B	27.85B
EBITDA	-198.50M	-977.00M	2.63B	1.83B	3.42B	1.81B
Net Income	-2.09B	-2.57B	945.00M	243.00M	1.47B	375.00M
Balance Sheet
Total Assets	29.29B	34.05B	37.26B	37.24B	38.63B	38.34B
Cash, Cash Equivalents and Short-Term Investments	8.21B	11.30B	12.18B	14.74B	15.01B	15.92B
Total Debt	8.00B	8.00B	8.00B	8.00B	8.00B	9.13B
Total Liabilities	14.72B	15.25B	15.05B	15.16B	16.19B	17.43B
Stockholders Equity	14.57B	15.63B	19.30B	19.52B	20.25B	19.31B
Cash Flow
Free Cash Flow	0.00	1.60B	-1.24B	809.00M	1.15B	-817.00M
Operating Cash Flow	0.00	2.20B	1.56B	2.04B	2.00B	142.00M
Investing Cash Flow	0.00	-1.80B	-2.87B	-1.27B	-823.00M	-920.00M
Financing Cash Flow	0.00	-1.44B	-1.43B	-1.38B	-2.29B	615.00M

BAROQUE JAPAN LIMITED Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 784.00
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:3548, the sentiment is Negative. The current price of 784 is above the 20-day moving average (MA) of 752.78, above the 50-day MA of 754.47, and above the 200-day MA of 742.73, indicating a neutral trend. The MACD of -1.83 indicates Negative momentum. The RSI at 47.70 is Neutral, neither overbought nor oversold. The STOCH value of 78.10 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:3548.

BAROQUE JAPAN LIMITED Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
9983	75 Outperform	¥19.43T	29.11	19.84%	0.90%	9.56%	16.37%
2792	72 Outperform	¥40.46B	10.95	―	3.62%	-0.98%	-29.86%
2726	70 Outperform	¥260.59B	19.60	―	1.46%	12.02%	-15.70%
8227	68 Neutral	¥755.80B	16.45	8.48%	2.02%	―	―
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
3548	48 Neutral	¥26.47B	13.91	―	4.99%	-7.21%	-5127.88%

BAROQUE JAPAN LIMITED Corporate Events

Baroque Japan Limited Forms Joint Venture with JD.com to Expand in China

Baroque Japan Limited has announced the establishment of a joint venture with JD.com to expand its operations into the Chinese market. This strategic move aims to enhance the global presence of Japanese products by utilizing JD.com’s extensive sales channels, thereby supporting Japanese companies in expanding their overseas sales and ensuring business succession.

The most recent analyst rating on (JP:3548) stock is a Hold with a Yen781.00 price target. To see the full list of analyst forecasts on BAROQUE JAPAN LIMITED stock, see the JP:3548 Stock Forecast page.

BAROQUE JAPAN LIMITED Reports Decline in Half-Year Sales but Forecasts Profit Recovery

BAROQUE JAPAN LIMITED reported its consolidated financial results for the six months ended August 31, 2025, showing a decline in net sales by 10.5% compared to the previous year. The company experienced a slight profit attributable to owners of the parent, despite a decrease in operating and ordinary profits. The financial results indicate challenges in maintaining sales momentum, but the company forecasts a recovery in profits by the end of the fiscal year. Additionally, BAROQUE JAPAN LIMITED made significant changes in its scope of consolidation by excluding two companies, which may impact its operational focus and market strategy.

The most recent analyst rating on (JP:3548) stock is a Hold with a Yen781.00 price target. To see the full list of analyst forecasts on BAROQUE JAPAN LIMITED stock, see the JP:3548 Stock Forecast page.