Aica Kogyo Company, Limited (JP:4206)
:4206
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Aica Kogyo Company, Limited
(4206)
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Rating:71Outperform
Price Target:
¥3,902.00
▲(10.92% Upside)
Action:Reiterated
Date:05/03/26
The score is driven by attractive valuation (low P/E and ~3.9% yield) and generally solid fundamentals supported by conservative leverage. This is tempered by a meaningful weakness in 2026 cash conversion/FCF and currently weak technical momentum with the stock trading below key moving averages.
Positive Factors
Conservative leverage and expanding equity base
Aica's low debt-to-equity (mid-teens to low-20% range) and steadily expanding equity and assets provide lasting financial flexibility. This stronger capital base supports investment, weathering cycles and underpins credit access, reducing refinancing and solvency risks over months.
Negative Factors
Weak and volatile cash conversion in 2026
The sharp decline in operating cash flow and thin free cash flow in 2026 undermines ability to self-fund capex, dividends or pay down debt. Volatile FCF suggests working-capital swings and raises risk that reported earnings won't reliably translate into cash over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative leverage and expanding equity base
Aica's low debt-to-equity (mid-teens to low-20% range) and steadily expanding equity and assets provide lasting financial flexibility. This stronger capital base supports investment, weathering cycles and underpins credit access, reducing refinancing and solvency risks over months.
Read all positive factors
Aica Kogyo Company, Limited (4206) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥224.76B
Dividend Yield3.9%
Average Volume (3M)178.31K
Price to Earnings (P/E)18.2
Beta (1Y)0.43
Revenue Growth1.23%
EPS Growth11.14%
CountryJP
Employees5,007
SectorIndustrials
Sector Strength72
IndustryConglomerates
Share Statistics
EPS (TTM)273.05
Shares Outstanding67,590,670
10 Day Avg. Volume196,960
30 Day Avg. Volume178,310
Financial Highlights & Ratios
PEG Ratio1.08
Price to Book (P/B)1.19
Price to Sales (P/S)0.90
P/FCF Ratio207.79
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)305.18
Revenue Forecast (FY)¥279.00B
Aica Kogyo Company, Limited Business Overview & Revenue Model
Company Description
Aica Kogyo Company, Limited develops, produces, and sells chemical products, and laminates and building materials in Japan and internationally. The company offers chemical products, including exterior and interior finishing coating materials, orga...
How the Company Makes Money
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Aica Kogyo Company, Limited Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
82
Very Positive
Cash Flow
52
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 251.62B | 251.76B | 248.70B | 236.63B | 242.06B | 214.51B |
| Gross Profit | 68.91B | 68.37B | 67.91B | 64.14B | 56.80B | 54.09B |
| EBITDA | 27.27B | 37.08B | 35.62B | 33.08B | 25.98B | 28.29B |
| Net Income | 17.23B | 18.53B | 16.90B | 15.13B | 10.06B | 13.12B |
Balance Sheet | ||||||
| Total Assets | 278.39B | 326.44B | 288.06B | 274.74B | 252.69B | 242.15B |
| Cash, Cash Equivalents and Short-Term Investments | 57.25B | 60.21B | 65.67B | 62.02B | 50.99B | 47.18B |
| Total Debt | 26.72B | 47.58B | 30.63B | 30.49B | 30.30B | 17.22B |
| Total Liabilities | 94.67B | 119.13B | 98.33B | 98.19B | 94.62B | 79.42B |
| Stockholders Equity | 167.89B | 190.50B | 173.39B | 161.81B | 145.23B | 145.25B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 1.09B | 18.49B | 20.01B | 12.21B | 4.99B |
| Operating Cash Flow | 0.00 | 8.78B | 26.75B | 28.48B | 19.85B | 11.69B |
| Investing Cash Flow | 0.00 | -27.47B | -11.12B | -7.57B | -9.06B | -8.34B |
| Financing Cash Flow | 0.00 | 10.77B | -16.79B | -11.17B | -9.36B | -1.11B |
Aica Kogyo Company, Limited Technical Analysis
Negative
3518.00
Price Trends
3581.04
Negative
3580.83
Negative
3562.51
Negative
Market Momentum
-43.52
Negative
41.30
Neutral
54.82
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4206, the sentiment is Negative. The current price of 3518 is above the 20-day moving average (MA) of 3483.85, below the 50-day MA of 3581.04, and below the 200-day MA of 3562.51, indicating a bearish trend. The MACD of -43.52 indicates Negative momentum. The RSI at 41.30 is Neutral, neither overbought nor oversold. The STOCH value of 54.82 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:4206.
Aica Kogyo Company, Limited Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | ¥617.79B | 17.43 | 13.63% | 1.95% | -1.79% | 1.03% | |
73 Outperform | ¥177.28B | 10.76 | ― | 2.66% | -4.58% | 51.25% | |
71 Outperform | ¥224.76B | 18.16 | ― | 3.90% | 1.23% | 11.14% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
63 Neutral | ¥915.68B | 9.71 | 7.53% | 3.13% | 0.89% | -6.71% | |
58 Neutral | ¥360.50B | 4.33 | 8.35% | 2.73% | -3.16% | -32.06% | |
46 Neutral | ¥307.83B | -3.58 | -20.43% | 3.72% | -13.16% | -410.43% |
* Industrials Sector Average
JP:4206
Aica Kogyo Company, Limited
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Aica Kogyo Company, Limited Corporate Events
Aica Kogyo Lifts Annual Dividend and Targets Further Increase for FY 2027
May 1, 2026
Aica Kogyo Company, Limited has approved a year-end dividend of ¥72 per share for the fiscal year ended March 31, 2026, unchanged from its earlier forecast and up from ¥70 a year earlier. This brings the total annual dividend to ¥13...
Aica Kogyo Delivers Record Earnings and Fifth Straight Year of Profit Growth
May 1, 2026
Aica Kogyo Co., Ltd., a chemicals and building materials manufacturer specializing in resins, adhesives, and decorative construction materials, targets industrial and construction sectors that demand high‑performance materials. Its portfolio...
Aica Kogyo Lifts Profit, Investments and Dividends Amid Modest Sales Growth
May 1, 2026
Aica Kogyo reported consolidated net sales of ¥251.8 billion for the fiscal year ended March 31, 2026, up 1.2% year on year, with operating profit rising 6.3% to ¥29.1 billion and profit attributable to owners of parent climbing 9.7% to ...
Aica Kogyo Sets Tender Offer Window for India’s Stylam Industries
Apr 13, 2026
Aica Kogyo Company, Limited has detailed the progress of its plan to make India-based Stylam Industries Limited, a producer of melamine decorative laminates and related products, a consolidated subsidiary. The move strengthens Aica’s positio...
Aica Kogyo Delays Tender Offer Start for India’s Stylam Industries
Mar 31, 2026
Aica Kogyo has been pursuing the acquisition of Stylam Industries Limited, an Indian manufacturer and distributor of melamine decorative laminates and related products, with the aim of turning Stylam into a consolidated subsidiary. The move is int...
Aica Kogyo Announces 2026 Executive and Board Appointments to Strengthen Governance
Mar 3, 2026
Aica Kogyo Company, Limited has announced a slate of executive appointments, including directors, audit and supervisory committee members, and executive officers, with key changes taking effect on April 1 and June 23, 2026. The appointments are su...
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.