CE Holdings Co., Ltd. (JP:4320)
:4320
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CE Holdings Co., Ltd.
(4320)
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Rating:74Outperform
Price Target:
¥1,679.00
▲(60.21% Upside)
Action:Reiterated
Date:03/24/26
The score is driven primarily by solid financial fundamentals (improved profitability, low leverage, and stronger free cash flow), supported by attractive valuation (low P/E and high dividend yield). The main restraint is mixed technicals with muted near-term momentum and some weakness versus the 20-day average.
Positive Factors
Recurring & diversified revenue model
CE Holdings' mix of software licenses, subscription cloud services, and consulting creates recurring, diversified cash flows. This model supports predictable revenue, higher customer retention and cross-sell potential across hospitals and clinics, reinforcing durable revenue visibility amid ongoing digitization of healthcare.
Negative Factors
Recent sharp revenue decline
A notable drop in reported revenue in the latest year undermines top-line visibility and could signal weakening new sales or renewals. For a company relying on recurring licenses/subscriptions, such declines can reduce forward cash flow, slow reinvestment, and make it harder to sustain margin or growth initiatives over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring & diversified revenue model
CE Holdings' mix of software licenses, subscription cloud services, and consulting creates recurring, diversified cash flows. This model supports predictable revenue, higher customer retention and cross-sell potential across hospitals and clinics, reinforcing durable revenue visibility amid ongoing digitization of healthcare.
Read all positive factors
CE Holdings Co., Ltd. (4320) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥25.22B
Dividend Yield4.99%
Average Volume (3M)84.19K
Price to Earnings (P/E)15.2
Beta (1Y)0.92
Revenue Growth11.63%
EPS Growth211.42%
CountryJP
Employees606
SectorHealthcare
Sector Strength45
IndustryMedical - Healthcare Information Services
Share Statistics
EPS (TTM)97.54
Shares Outstanding17,039,400
10 Day Avg. Volume92,620
30 Day Avg. Volume84,186
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)1.46
Price to Sales (P/S)0.76
P/FCF Ratio13.31
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
CE Holdings Co., Ltd. Business Overview & Revenue Model
Company Description
CE Holdings Co., Ltd., through its subsidiaries, develops and sells electronic medical record systems and medical information systems in Japan. The company provides MI RA Is (Miraize), an electronic medical record system for medical institutions. ...
How the Company Makes Money
CE Holdings Co., Ltd. generates revenue primarily through the development, sales, and maintenance of healthcare IT systems, such as electronic medical record (EMR) solutions for hospitals and clinics. The company earns income from licensing its so...
CE Holdings Co., Ltd. Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
78
Positive
Cash Flow
74
Positive
| Breakdown | Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 15.83B | 14.55B | 13.63B | 13.70B | 12.28B |
| Gross Profit | 3.54B | 3.28B | 3.60B | 3.09B | 2.59B |
| EBITDA | 1.99B | 1.66B | 1.69B | 1.40B | 1.23B |
| Net Income | 1.56B | 123.42M | 687.53M | 588.00M | 632.93M |
Balance Sheet | |||||
| Total Assets | 12.78B | 11.27B | 11.26B | 10.92B | 9.48B |
| Cash, Cash Equivalents and Short-Term Investments | 5.03B | 3.83B | 3.14B | 3.96B | 2.87B |
| Total Debt | 1.47B | 2.27B | 1.42B | 1.89B | 1.37B |
| Total Liabilities | 3.94B | 4.67B | 4.67B | 4.83B | 4.00B |
| Stockholders Equity | 8.30B | 6.10B | 6.08B | 5.63B | 5.07B |
Cash Flow | |||||
| Free Cash Flow | 908.29M | 676.53M | 521.69M | 415.65M | 881.91M |
| Operating Cash Flow | 998.32M | 752.39M | 797.69M | 1.56B | 1.05B |
| Investing Cash Flow | 381.37M | -630.51M | -863.59M | -772.95M | -158.53M |
| Financing Cash Flow | -146.62M | 566.46M | -754.51M | 306.64M | -838.45M |
CE Holdings Co., Ltd. Technical Analysis
Negative
1048.00
Price Trends
1232.72
Negative
1141.84
Positive
956.32
Positive
Market Momentum
-3.72
Positive
44.20
Neutral
24.53
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4320, the sentiment is Negative. The current price of 1048 is below the 20-day moving average (MA) of 1224.15, below the 50-day MA of 1232.72, and above the 200-day MA of 956.32, indicating a neutral trend. The MACD of -3.72 indicates Positive momentum. The RSI at 44.20 is Neutral, neither overbought nor oversold. The STOCH value of 24.53 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:4320.
CE Holdings Co., Ltd. Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | ¥25.22B | 15.22 | ― | 4.99% | 11.63% | 211.42% | |
68 Neutral | ¥920.15B | 36.11 | 12.15% | 1.01% | 23.33% | 21.65% | |
60 Neutral | ¥175.90B | 31.32 | ― | 0.43% | 20.95% | 13.39% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | ¥71.00B | -232.45 | 5.76% | ― | 23.30% | -56.05% |
* Healthcare Sector Average
JP:4320
CE Holdings Co., Ltd.
1,499.00
836.24
126.18%
JP:2413
M3
1,355.00
-569.80
-29.60%
JP:4480
Medley
2,169.00
-1,031.00
-32.22%
JP:4483
JMDC Inc.
2,688.00
-438.79
-14.03%
JP:366A
Wellness Communications Corporation
1,077.00
-686.59
-38.93%
CE Holdings Co., Ltd. Corporate Events
CE Holdings posts strong sales growth but projects sharp full-year profit decline
May 13, 2026
CE Holdings reported consolidated net sales of ¥10.88 billion for the six months ended March 31, 2026, up 18.2% year on year, with operating profit rising 13.7% to ¥1.40 billion and ordinary profit up 14.9% to ¥1.42 billion. Profit ...
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.