ADJUVANT HOLDINGS CO., LTD. (JP:4929)
:4929
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ADJUVANT HOLDINGS CO., LTD.
(4929)
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Rating:66Neutral
Price Target:
¥814.00
▲(8.39% Upside)
Action:ReiteratedDate:04/21/26
The score is driven primarily by financial strength, led by a very conservative balance sheet, but tempered by recent revenue declines, thin profitability, and uneven cash flow consistency. Valuation is supportive due to a low P/E and modest yield, while technicals are a headwind with the stock trading below major moving averages and negative MACD.
Positive Factors
Conservative balance sheet
Extremely low leverage and a large equity base materially reduce refinancing and solvency risk over cycles. This financial flexibility supports investment, working-capital support for salon customers, and resilience in downturns, preserving optionality for strategic moves.
Negative Factors
Revenue decline
A multi-year top-line contraction limits scale economics and market momentum for salon-focused products. Continued revenue erosion can pressure operating leverage, reduce the ability to invest in growth initiatives, and gradually erode returns even with strong gross margins.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Extremely low leverage and a large equity base materially reduce refinancing and solvency risk over cycles. This financial flexibility supports investment, working-capital support for salon customers, and resilience in downturns, preserving optionality for strategic moves.
Read all positive factors
ADJUVANT HOLDINGS CO., LTD. (4929) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥5.99B
Dividend Yield1.59%
Average Volume (3M)3.88K
Price to Earnings (P/E)―
Beta (1Y)0.14
Revenue Growth-6.94%
EPS Growth251.68%
CountryJP
Employees137
SectorConsumer Defensive
Sector Strength42
IndustryHousehold & Personal Products
Share Statistics
EPS (TTM)4.79
Shares Outstanding8,043,600
10 Day Avg. Volume5,260
30 Day Avg. Volume3,880
Financial Highlights & Ratios
PEG Ratio0.17
Price to Book (P/B)1.43
Price to Sales (P/S)1.58
P/FCF Ratio53.96
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
ADJUVANT HOLDINGS CO., LTD. Business Overview & Revenue Model
Company Description
Adjuvant Holdings Co.,Ltd. engages in the research, development, production, and sale of cosmetics in Japan. The company offers skin care products, including cleansing products, face washes, lotions, beauty essences, masks, moisturizing creams, ma...
How the Company Makes Money
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ADJUVANT HOLDINGS CO., LTD. Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
88
Very Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.99B | 3.81B | 4.10B | 4.44B | 4.38B | 4.43B |
| Gross Profit | 2.63B | 2.56B | 2.66B | 2.86B | 2.92B | 2.94B |
| EBITDA | 207.90M | 260.38M | 259.63M | 124.00M | 341.54M | 500.79M |
| Net Income | 38.44M | 142.98M | 40.73M | -99.86M | 403.64M | 393.18M |
Balance Sheet | ||||||
| Total Assets | 5.21B | 5.15B | 5.30B | 5.28B | 5.55B | 5.66B |
| Cash, Cash Equivalents and Short-Term Investments | 1.88B | 2.13B | 2.22B | 2.12B | 1.53B | 1.74B |
| Total Debt | 19.53M | 21.73M | 30.51M | 30.82M | 19.18M | 30.08M |
| Total Liabilities | 1.11B | 929.78M | 1.12B | 1.06B | 1.06B | 1.34B |
| Stockholders Equity | 4.10B | 4.22B | 4.18B | 4.22B | 4.49B | 4.32B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 111.43M | 301.91M | 314.89M | -422.66M | 369.44M |
| Operating Cash Flow | 0.00 | 132.93M | 307.99M | 377.61M | -321.67M | 417.88M |
| Investing Cash Flow | 0.00 | -119.02M | -95.61M | 391.20M | 344.97M | 24.39M |
| Financing Cash Flow | 0.00 | -105.37M | -104.55M | -198.21M | -256.90M | -179.73M |
ADJUVANT HOLDINGS CO., LTD. Technical Analysis
Positive
751.00
Price Trends
782.14
Negative
771.01
Positive
763.12
Positive
Market Momentum
-2.18
Negative
55.25
Neutral
77.37
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4929, the sentiment is Positive. The current price of 751 is below the 20-day moving average (MA) of 760.45, below the 50-day MA of 782.14, and below the 200-day MA of 763.12, indicating a neutral trend. The MACD of -2.18 indicates Negative momentum. The RSI at 55.25 is Neutral, neither overbought nor oversold. The STOCH value of 77.37 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:4929.
ADJUVANT HOLDINGS CO., LTD. Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | ¥284.94B | 39.57 | 5.84% | 3.92% | -0.04% | 2.00% | |
69 Neutral | ¥6.43B | 12.52 | ― | 2.38% | -1.04% | ― | |
66 Neutral | ¥5.99B | -25.68 | ― | 1.59% | -6.94% | 251.68% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
58 Neutral | ¥5.18B | -33.12 | ― | 1.68% | 7.15% | ― | |
58 Neutral | ¥8.20B | -49.92 | ― | 2.65% | 7.03% | -16.06% | |
52 Neutral | ¥5.28B | 42.42 | ― | ― | -17.90% | -57.22% |
* Consumer Defensive Sector Average
JP:4929
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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.