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Ad-Sol Nissin Corp.
(3837)
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Rating:79Outperform
Price Target:
¥1,574.00
▲(7.96% Upside)
Action:Reiterated
Date:05/14/26
The score is driven primarily by strong financial performance (improving profitability and a conservative, near debt-free balance sheet), tempered by cash-flow conversion volatility. Technicals are moderately positive and valuation appears reasonable with a mid P/E and a modest dividend yield.
Positive Factors
Multi-year revenue growth trend
The company has shown durable multi-year revenue growth with acceleration in 2026. This sustained top-line expansion signals expanding client wins and service adoption, supporting scale economies, long-term contract renewal potential, and a broader base for reinvestment and margin improvement.
Negative Factors
Volatile operating cash-flow conversion
Operating cash flow has been uneven relative to profits due to working-capital or timing swings. This recurring conversion volatility can constrain sustainable free cash flow availability for capex, dividends, or buybacks and raises execution risk in funding growth initiatives.
Read all positive and negative factors
Positive Factors
Negative Factors
Multi-year revenue growth trend
The company has shown durable multi-year revenue growth with acceleration in 2026. This sustained top-line expansion signals expanding client wins and service adoption, supporting scale economies, long-term contract renewal potential, and a broader base for reinvestment and margin improvement.
Read all positive factors
Ad-Sol Nissin Corp. (3837) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥26.02B
Dividend Yield2.3%
Average Volume (3M)100.44K
Price to Earnings (P/E)17.4
Beta (1Y)0.97
Revenue Growth10.92%
EPS Growth31.98%
CountryJP
Employees645
SectorGeneral
Sector StrengthN/A
IndustryInformation Technology Services
Share Statistics
EPS (TTM)86.86
Shares Outstanding17,289,930
10 Day Avg. Volume77,240
30 Day Avg. Volume100,443
Financial Highlights & Ratios
PEG Ratio0.51
Price to Book (P/B)3.54
Price to Sales (P/S)1.43
P/FCF Ratio13.05
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)88.7
Revenue Forecast (FY)¥18.50B
Ad-Sol Nissin Corp. Business Overview & Revenue Model
Company Description
Ad-Sol Nissin Corporation specializes in creating information and integrated embedded systems for businesses throughout Japan. Its product portfolio includes a range of ZigBee solutions, featuring wireless communication with multi-hop capabilities...
How the Company Makes Money
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Ad-Sol Nissin Corp. Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
90
Very Positive
Cash Flow
78
Positive
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 17.15B | 15.46B | 14.08B | 12.84B | 12.25B |
| Gross Profit | 4.97B | 4.31B | 3.81B | 3.36B | 3.02B |
| EBITDA | 2.29B | 1.86B | 1.58B | 1.33B | 1.18B |
| Net Income | 1.51B | 1.21B | 979.15M | 841.42M | 784.94M |
Balance Sheet | |||||
| Total Assets | 10.27B | 10.20B | 10.40B | 9.56B | 8.22B |
| Cash, Cash Equivalents and Short-Term Investments | 2.94B | 2.89B | 3.76B | 3.39B | 2.81B |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 3.33B | 3.13B | 3.11B | 2.89B | 2.25B |
| Stockholders Equity | 6.95B | 7.07B | 7.29B | 6.68B | 5.97B |
Cash Flow | |||||
| Free Cash Flow | 1.88B | 890.13M | 782.95M | 890.69M | 1.74B |
| Operating Cash Flow | 1.89B | 1.03B | 804.96M | 1.02B | 1.78B |
| Investing Cash Flow | -14.23M | -202.56M | -71.41M | -99.65M | -241.01M |
| Financing Cash Flow | -1.82B | -1.70B | -364.96M | -336.13M | -410.06M |
Ad-Sol Nissin Corp. Technical Analysis
Negative
1458.00
Price Trends
1420.12
Negative
1457.36
Negative
1508.76
Negative
Market Momentum
10.47
Positive
39.29
Neutral
35.92
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:3837, the sentiment is Negative. The current price of 1458 is below the 20-day moving average (MA) of 1485.25, above the 50-day MA of 1420.12, and below the 200-day MA of 1508.76, indicating a bearish trend. The MACD of 10.47 indicates Positive momentum. The RSI at 39.29 is Neutral, neither overbought nor oversold. The STOCH value of 35.92 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:3837.
Ad-Sol Nissin Corp. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | ¥26.02B | 17.43 | ― | 2.39% | 10.92% | 31.98% | |
78 Outperform | ¥31.68B | 10.58 | ― | 3.39% | 12.35% | 56.74% | |
75 Outperform | ¥31.24B | 8.80 | 10.38% | 4.82% | -2.76% | 36.33% | |
74 Outperform | ¥29.12B | 13.02 | ― | 2.45% | 8.50% | 2.04% | |
71 Outperform | ¥23.25B | 13.42 | ― | 2.83% | 15.21% | 12.50% | |
70 Outperform | ¥45.58B | 13.89 | 16.97% | 3.65% | 4.87% | 3.91% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
JP:3837
Ad-Sol Nissin Corp.
1,399.00
-10.53
-0.75%
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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.