Nihon Yamamura Glass Co., Ltd. (5210) AI Stock Analysis

• Market Cap: ¥35.64B
• Dividend Yield: 6.14%
• Average Volume (3M): 50.84K
• Price to Earnings (P/E): 9.3
• Beta (1Y): 0.70
• Revenue Growth: -2.08%
• EPS Growth: -28.12%
• Country: JP
• Employees: 1,855
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Packaging & Containers
• EPS (TTM): 115.04
• Shares Outstanding: 11,145,249
• 10 Day Avg. Volume: 62,890
• 30 Day Avg. Volume: 50,843
• PEG Ratio: -0.10
• Price to Book (P/B): 0.40
• Price to Sales (P/S): 0.30
• P/FCF Ratio: 23.43
• 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: ¥3,900.00 ▲(28.71% Upside)
• Action: Reiterated Date: 02/26/26
• Date: Action: Reiterated 02/26/26

The score is driven primarily by improving financial stability and profitability (strong equity position and recovering ROE), supported by positive technical trend and momentum. Attractive valuation (low P/E and high dividend yield) further boosts the score, while the key offset is weaker free cash flow generation versus last year.

Positive Factors

Strong balance sheet

A high equity ratio and low leverage provide durable financial stability, enabling the company to absorb cyclical shocks, fund working capital and selective capex without overreliance on external financing, supporting long-term operational continuity and strategic flexibility.

Improving profitability & ROE

Rebounding ROE and a recovering net margin reflect improved capital efficiency and profitability. Sustained margin recovery supports the ability to reinvest in process improvements and product quality, strengthening competitive positioning over the medium term.

Solid cash conversion

Strong operating cash flow and a robust cash-to-income ratio indicate quality earnings and effective working capital management. This durable cash generation underpins funding for maintenance capex, dividends, and reduces reliance on external funding over multiple quarters.

Negative Factors

Falling free cash flow

A large drop in free cash flow constrains discretionary spending and raises questions about capital allocation efficiency. Persistently lower FCF can limit dividends, reduce buffer for reinvestment, and force reliance on balance-sheet resources over the coming quarters.

Modest revenue growth

Very low top-line growth signals limited demand expansion or pricing power in core markets. Over the medium term this can hamper scale economies, slow margin improvement, and constrain the company’s ability to materially increase profits absent efficiency gains or new markets.

Margin pressure remains

Declining gross margin alongside only moderate operating margins indicates ongoing cost or pricing pressures. Without sustained margin recovery, profitability will remain constrained, limiting free cash generation and ability to fund strategic investments over the medium term.

Nihon Yamamura Glass Co., Ltd. Business Overview & Revenue Model

Company Description

Nihon Yamamura Glass Co., Ltd. produces and sells glass bottles and plastic closures in Japan and internationally. It is also involved in production and sale of powdered glass and glass paste; and designing, manufacturing, sale, and installation work of machines and plant facilities. The company was founded in 1914 and is headquartered in Amagasaki, Japan.

How the Company Makes Money

Nihon Yamamura Glass Co., Ltd. generates revenue primarily through the sale of its diverse range of glass products across multiple sectors. The company's key revenue streams include the production and distribution of consumer glassware, which caters to both retail and wholesale markets, and architectural glass products used in construction and building projects. Additionally, the company engages in the production of industrial glass components that are utilized in various manufacturing processes. Significant partnerships with construction firms and retailers enhance its market reach and sales opportunities. The company also capitalizes on innovative design and technology to create unique glass products that meet evolving consumer demands, contributing to its overall profitability.

Nihon Yamamura Glass Co., Ltd. Financial Statement Overview

Summary

Financials show a steady recovery: modest 2025 revenue growth (+0.23%) after a stronger 2024, improving net margin (3.79%) and ROE (5.06%), and a solid balance sheet (57.74% equity ratio, 0.44 debt-to-equity). The main constraint is cash generation quality, with free cash flow dropping to JPY 0.94B from JPY 3.19B.

Income Statement

The income statement exhibits a stable revenue growth trend with a 0.23% increase from 2024 to 2025, following a significant 6.94% increase from 2023 to 2024. The gross profit margin is healthy at 19.02% in 2025, although it declined from 20.86% in 2024. The company's net profit margin showed resilience, improving from a challenging period with a 3.79% margin in 2025. EBIT and EBITDA margins are moderate at 4.04% and 8.78%, respectively, indicating operational efficiency but room for improvement in profitability.

Balance Sheet

The balance sheet reflects a strong equity position with an equity ratio of 57.74% in 2025, indicating financial stability. The debt-to-equity ratio is relatively low at 0.44, suggesting manageable leverage. Return on equity improved to 5.06% in 2025, recovering from negative figures in previous years, pointing to increased profitability of shareholder equity. The overall financial health appears solid, with a positive trajectory in equity growth.

Cash Flow

The cash flow statement shows moderate improvement in cash generation, with operating cash flow increasing to JPY 6.65 billion in 2025. Free cash flow, however, declined significantly to JPY 0.94 billion from JPY 3.19 billion in 2024, highlighting potential cash management challenges. The operating cash flow to net income ratio is strong at 2.40, indicating effective cash conversion from earnings. Overall, cash flow management requires careful attention, especially in capital expenditures.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	72.65B	73.04B	72.87B	68.14B	64.29B	57.14B
Gross Profit	14.23B	14.16B	15.20B	10.26B	11.07B	7.63B
EBITDA	6.61B	6.42B	18.14B	320.00M	-4.03B	-571.00M
Net Income	3.04B	2.77B	12.26B	-3.01B	-9.65B	-5.31B
Balance Sheet
Total Assets	95.14B	94.85B	94.14B	87.60B	97.37B	98.49B
Cash, Cash Equivalents and Short-Term Investments	10.12B	10.79B	10.99B	7.65B	11.13B	10.13B
Total Debt	24.13B	24.08B	22.87B	32.13B	33.68B	33.41B
Total Liabilities	41.43B	40.47B	42.55B	50.11B	57.15B	49.91B
Stockholders Equity	54.11B	54.78B	51.43B	37.35B	39.91B	48.22B
Cash Flow
Free Cash Flow	0.00	939.00M	3.19B	-145.00M	3.76B	-789.00M
Operating Cash Flow	0.00	6.65B	5.66B	1.62B	5.58B	4.82B
Investing Cash Flow	0.00	-5.57B	7.72B	-2.93B	-1.49B	-5.11B
Financing Cash Flow	0.00	-1.47B	-10.12B	-2.21B	-3.38B	-2.55B

Nihon Yamamura Glass Co., Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 3030.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:5210, the sentiment is Positive. The current price of 3030 is below the 20-day moving average (MA) of 3328.00, below the 50-day MA of 3166.64, and above the 200-day MA of 2756.99, indicating a bullish trend. The MACD of 124.20 indicates Negative momentum. The RSI at 57.79 is Neutral, neither overbought nor oversold. The STOCH value of 57.28 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:5210.

Nihon Yamamura Glass Co., Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
3950	76 Outperform	¥78.67B	12.49	―	6.64%	2.85%	-9.13%
5902	76 Outperform	¥30.75B	9.79	―	4.32%	-1.28%	30.53%
5210	72 Outperform	¥35.64B	9.33	―	6.14%	-2.08%	-28.12%
7864	70 Outperform	¥157.69B	7.06	10.46%	2.35%	4.56%	49.23%
3946	68 Neutral	¥60.72B	8.02	―	3.50%	4.40%	47.13%
5204	66 Neutral	¥16.74B	5.30	―	1.95%	1.92%	-30.29%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%