KH Neochem Co.,Ltd. (JP:4189)
:4189
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KH Neochem Co.,Ltd.
(4189)
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Rating:67Neutral
Price Target:
¥2,881.00
▲(16.31% Upside)
Action:Reiterated
Date:02/11/26
The score is driven primarily by solid underlying financial stability (notably conservative leverage) but tempered by mixed operating performance and historically uneven free cash flow. Technicals are supportive of an uptrend but look overextended, while valuation is a meaningful positive with a moderate P/E and strong dividend yield.
Positive Factors
Conservative balance sheet
Sustained low leverage gives the company durable financial flexibility in the cyclical chemicals industry. Lower debt reduces refinancing and liquidity risk, supports capital spending or dividends through cycles, and enables tactical investments or M&A without stressing the balance sheet.
Negative Factors
Top-line volatility
Choppy revenue and recent declines signal cyclicality and weaker pricing/demand in end markets. Persistent top-line variability undermines predictable capacity utilization and investment planning, making it harder to sustain margin improvements or consistent free-cash-flow generation over time.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Sustained low leverage gives the company durable financial flexibility in the cyclical chemicals industry. Lower debt reduces refinancing and liquidity risk, supports capital spending or dividends through cycles, and enables tactical investments or M&A without stressing the balance sheet.
Read all positive factors
KH Neochem Co.,Ltd. (4189) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥103.06B
Dividend Yield3.88%
Average Volume (3M)110.95K
Price to Earnings (P/E)13.2
Beta (1Y)0.83
Revenue Growth-8.00%
EPS Growth-7.64%
CountryJP
Employees829
SectorBasic Materials
Sector Strength58
IndustryChemicals
Share Statistics
EPS (TTM)244.54
Shares Outstanding37,149,400
10 Day Avg. Volume104,350
30 Day Avg. Volume110,953
Financial Highlights & Ratios
PEG Ratio-3.35
Price to Book (P/B)1.27
Price to Sales (P/S)0.77
P/FCF Ratio9.70
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)282.75
Revenue Forecast (FY)¥124.00B
KH Neochem Co.,Ltd. Business Overview & Revenue Model
Company Description
KH Neochem Co., Ltd. researches, manufactures, and sells petrochemical products in Japan and internationally. It offers a range of chemical products, such as alcohols, esters, ketones, glycol ethers, synthetic fatty acids, aldehydes, diols, hydroc...
How the Company Makes Money
KH Neochem primarily makes money by manufacturing and selling chemical products (chemical intermediates) to business customers. Its revenue model is based on: (1) Product sales of oxo alcohols, carboxylic acids, and ester-related products—sold as ...
KH Neochem Co.,Ltd. Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
74
Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 122.59B | 115.10B | 119.76B | 115.22B | 114.88B | 117.11B |
| Gross Profit | 26.90B | 24.87B | 25.25B | 21.94B | 24.45B | 32.23B |
| EBITDA | 19.04B | 17.58B | 17.17B | 14.60B | 16.75B | 24.19B |
| Net Income | 8.99B | 7.80B | 8.36B | 6.83B | 8.07B | 13.69B |
Balance Sheet | ||||||
| Total Assets | 125.88B | 130.10B | 131.46B | 124.50B | 131.25B | 122.07B |
| Cash, Cash Equivalents and Short-Term Investments | 5.40B | 6.72B | 7.16B | 9.68B | 10.93B | 16.93B |
| Total Debt | 20.47B | 18.29B | 19.20B | 16.39B | 22.52B | 20.16B |
| Total Liabilities | 55.23B | 57.47B | 59.54B | 58.00B | 69.18B | 64.56B |
| Stockholders Equity | 67.80B | 69.68B | 69.09B | 63.74B | 59.35B | 54.92B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 9.13B | -1.45B | 8.11B | -5.27B | 13.36B |
| Operating Cash Flow | 0.00 | 13.78B | 6.98B | 13.20B | 5.13B | 17.40B |
| Investing Cash Flow | 0.00 | -4.63B | -8.90B | -4.94B | -10.08B | -4.39B |
| Financing Cash Flow | 0.00 | -9.57B | -645.00M | -9.50B | -1.08B | -5.17B |
KH Neochem Co.,Ltd. Technical Analysis
Positive
2477.00
Price Trends
2759.00
Positive
2748.80
Positive
2674.85
Positive
Market Momentum
-2.42
Negative
55.62
Neutral
80.08
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4189, the sentiment is Positive. The current price of 2477 is below the 20-day moving average (MA) of 2714.35, below the 50-day MA of 2759.00, and below the 200-day MA of 2674.85, indicating a bullish trend. The MACD of -2.42 indicates Negative momentum. The RSI at 55.62 is Neutral, neither overbought nor oversold. The STOCH value of 80.08 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:4189.
KH Neochem Co.,Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | ¥45.18B | 8.51 | ― | 3.53% | -7.83% | 13.79% | |
74 Outperform | ¥132.47B | 49.21 | ― | 0.67% | 8.51% | -17.90% | |
73 Outperform | ¥187.27B | 13.86 | 4.41% | 3.80% | -4.32% | 27.07% | |
67 Neutral | ¥103.06B | 13.18 | ― | 3.88% | -8.00% | -7.64% | |
64 Neutral | ¥875.08B | 20.61 | 4.79% | 4.21% | -4.09% | -27.31% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
60 Neutral | ¥494.02B | 153.05 | 1.02% | 3.37% | -1.80% | -85.21% |
* Basic Materials Sector Average
JP:4189
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KH Neochem Co.,Ltd. Corporate Events
KH Neochem to Boost Board Benefit Trust with ¥55 Million Share Purchase
May 11, 2026
KH Neochem Co., Ltd. has approved an additional funding contribution to its Board Benefit Trust, a performance-linked share-based remuneration scheme for directors and corporate officers. The trust, established with Mizuho Trust Banking and using...
KH Neochem First-Quarter Profit Falls but Keeps 2026 Outlook and Higher Dividend Plan
May 11, 2026
KH Neochem reported a decline in first-quarter 2026 results, with net sales falling 11.2% year on year to ¥25.58 billion and operating income dropping 22.6% to ¥2.09 billion, while net income attributable to owners of the parent decrease...
KH Neochem Sees Strategic Capital Emerge as Largest Shareholder
Mar 18, 2026
KH Neochem has announced a shift in its major shareholder structure after Strategic Capital, Inc. increased its stake to become the largest shareholder by voting rights. Strategic Capital, an investment management firm led by President and CEO Tsu...
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.