Asahipen Corporation (4623) AI Stock Analysis

• Market Cap: ¥6.59B
• Dividend Yield: 3.5%
• Average Volume (3M): 1.63K
• Price to Earnings (P/E): 7.9
• Beta (1Y): 0.13
• Revenue Growth: -8.27%
• EPS Growth: -3.23%
• Country: JP
• Employees: 259
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Chemicals - Specialty
• EPS (TTM): 54.42
• Shares Outstanding: 4,500,000
• 10 Day Avg. Volume: 1,190
• 30 Day Avg. Volume: 1,633
• PEG Ratio: 0.12
• Price to Book (P/B): 0.46
• Price to Sales (P/S): 0.38
• P/FCF Ratio: -14.75
• 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): N/A
• Revenue Forecast (FY): N/A

• Rating: 72 Outperform
• Price Target: ¥1,913.00 ▲(10.96% Upside)
• Action: Reiterated Date: 10/18/25
• Date: Action: Reiterated 10/18/25

Asahipen Corporation's overall stock score is driven by its strong valuation and financial stability, despite challenges in free cash flow. The technical analysis suggests a neutral market position, with no significant momentum. The absence of earnings call data and corporate events does not impact the score.

Positive Factors

Financial Stability

A strong equity ratio indicates financial stability, providing resilience against economic fluctuations and supporting long-term strategic initiatives.

Profitability Improvement

Improved net profit margins reflect enhanced profitability, indicating effective cost management and operational efficiency, which are crucial for sustained growth.

Cash Generation

Strong operating cash flow supports the company's ability to fund operations, invest in growth opportunities, and maintain financial health over time.

Negative Factors

Revenue Growth Challenges

Slower revenue growth relative to peers could impact competitive positioning and market share, necessitating strategic initiatives to drive sales.

Free Cash Flow Volatility

Volatile free cash flow can constrain investment capabilities and liquidity, requiring careful capital expenditure management to ensure financial flexibility.

Revenue Decline

A decline in revenue growth indicates potential market challenges or competitive pressures, which could affect long-term business expansion and profitability.

Asahipen Corporation Business Overview & Revenue Model

Company Description

Asahipen Corporation manufactures, imports, and sells various paints and painting supplies, and household supplies in Japan. The company offers aqueous, oil, and spray paints, as well as paint auxiliary materials; painting supplies, including brushes, rollers, kotebakes, roller trays, painting machines/compressors, painting aids, curing supplies, containers, and polishing supplies; repair materials for cover, floor, joints, metal products, wood parts, base adjustment, and concrete; and repair tape and pale bucket, as well as insulation and waterproofing materials for roofs. It also provides interior goods, such as shoji paper, bran paper, cover paper, adhesive sheets, glass decoration and condensation products, floor material, glue and double-sided tapes, repair maintenance materials, and various tools; home care products comprising, floor waxes, cleaning agents, bleaching and fungicides, home detergent and cleaners, kitchen detergents and hygiene management supplies, waterproof/water repellents, graffiti droppings, polishing/removers, and lubricants; and gardening supplies. The company was formerly known as Asahi Paint Company and changed its name to Asahipen Corporation in January 1965. Asahipen Corporation was founded in 1940 and is headquartered in Osaka, Japan.

How the Company Makes Money

Asahipen Corporation generates revenue primarily through the sale of its paints and coatings products to various sectors, including construction, automotive, and manufacturing. The company has established a diverse revenue model that includes direct sales to contractors and retailers, as well as partnerships with construction firms and distributors. Key revenue streams consist of bulk sales of industrial coatings, retail sales of decorative paints, and specialized products for automotive applications. Additionally, Asahipen benefits from ongoing relationships with major clients and continuous demand for innovative and environmentally friendly products, which contributes significantly to its earnings.

Asahipen Corporation Financial Statement Overview

Summary

Asahipen Corporation demonstrates financial stability with a solid balance sheet and consistent profitability metrics. The company has a strong equity position and operational efficiency, but faces challenges in free cash flow generation.

Income Statement

The company demonstrates stable revenue with a slight growth trajectory, supported by a consistent gross profit margin around 30%. Net profit margins have varied, with a significant improvement in the latest year at 4.1%, indicating enhanced profitability. EBIT and EBITDA margins show a steady presence, reflecting operational efficiency. However, limited revenue growth compared to some industry peers may pose a challenge.

Balance Sheet

Asahipen Corporation maintains a solid balance sheet with a healthy equity ratio above 65%, indicating strong financial stability. The debt-to-equity ratio is maintained at a manageable level, suggesting prudent use of leverage. Return on equity shows a positive upward trend, indicating efficient use of shareholder funds to generate profits.

Cash Flow

The cash flow statement reflects a volatile free cash flow with recent negative figures, indicating potential liquidity challenges. Despite this, a robust operating cash flow relative to net income suggests good cash generation capabilities. However, declining free cash flow growth necessitates attention to capital expenditure management.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	16.58B	17.15B	17.11B	17.13B	14.22B	15.85B
Gross Profit	5.17B	5.07B	5.08B	5.11B	4.89B	5.42B
EBITDA	1.25B	1.36B	1.34B	1.27B	1.24B	1.26B
Net Income	706.82M	701.62M	380.49M	653.66M	1.00B	633.30M
Balance Sheet
Total Assets	22.47B	21.53B	21.57B	21.93B	20.11B	19.82B
Cash, Cash Equivalents and Short-Term Investments	3.39B	3.33B	3.91B	4.11B	4.59B	3.65B
Total Debt	4.26B	3.99B	3.96B	4.15B	2.84B	2.89B
Total Liabilities	7.89B	7.38B	7.87B	8.40B	6.86B	6.88B
Stockholders Equity	14.57B	14.15B	13.70B	13.53B	13.25B	12.94B
Cash Flow
Free Cash Flow	0.00	-440.84M	536.80M	15.19M	1.08B	293.06M
Operating Cash Flow	0.00	966.60M	841.25M	350.67M	1.26B	1.42B
Investing Cash Flow	0.00	-1.21B	-316.09M	-1.41B	135.46M	-1.06B
Financing Cash Flow	0.00	-332.07M	-733.39M	772.60M	-569.83M	-699.47M

Asahipen Corporation Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1724.00
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4623, the sentiment is Positive. The current price of 1724 is below the 20-day moving average (MA) of 1745.80, below the 50-day MA of 1740.94, and above the 200-day MA of 1714.56, indicating a neutral trend. The MACD of -1.47 indicates Positive momentum. The RSI at 49.10 is Neutral, neither overbought nor oversold. The STOCH value of 70.87 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:4623.

Asahipen Corporation Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
4611	74 Outperform	¥36.35B	15.61	―	3.70%	14.83%	51.42%
4623	72 Outperform	¥6.59B	7.93	―	3.50%	-8.27%	-3.23%
4629	70 Outperform	¥7.76B	8.04	―	2.51%	2.26%	51.04%
4624	66 Neutral	¥5.75B	6.39	―	1.39%	2.67%	37.55%
4119	66 Neutral	¥8.27B	2.66	―	2.84%	37.67%	-117.29%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
4615	44 Neutral	¥4.25B	-15.17	―	―	8.66%	-239.07%