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Fujimi Incorporated
(5384)
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Rating:69Neutral
Price Target:
¥5,256.00
▲(80.06% Upside)
Action:Downgraded
Date:06/20/26
The score is driven primarily by solid fundamentals (strong margins and balance-sheet strength) tempered by a major 2026 free-cash-flow deterioration and higher debt. Technicals are supportive with strong momentum, but overbought signals add near-term risk. Valuation is a key drag due to the high P/E and only modest dividend support.
Positive Factors
Balance Sheet Strength
Fujimi’s historically conservative balance sheet and rising equity provide durable financial flexibility to fund R&D, qualification cycles and capex without immediate funding strain. The strong ROE track record (2022–25) supports capacity to absorb semiconductor cyclicality if 2026 debt is a one-off.
Negative Factors
Free Cash Flow Deterioration
A sharp swing to negative free cash flow in 2026 materially reduces near-term financial flexibility and heightens financing needs. For a consumables business that otherwise generates steady cash, this deterioration raises execution risk on capex/working capital and could constrain shareholder returns or necessitate external funding.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance Sheet Strength
Fujimi’s historically conservative balance sheet and rising equity provide durable financial flexibility to fund R&D, qualification cycles and capex without immediate funding strain. The strong ROE track record (2022–25) supports capacity to absorb semiconductor cyclicality if 2026 debt is a one-off.
Read all positive factors
Fujimi Incorporated (5384) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥310.19B
Dividend Yield3.09%
Average Volume (3M)272.94K
Price to Earnings (P/E)33.4
Beta (1Y)1.36
Revenue Growth11.04%
EPS Growth-3.91%
CountryJP
Employees1,110
SectorTechnology
Sector Strength88
IndustrySemiconductors
Share Statistics
EPS (TTM)122.12
Shares Outstanding80,098,500
10 Day Avg. Volume320,980
30 Day Avg. Volume272,943
Financial Highlights & Ratios
PEG Ratio-5.62
Price to Book (P/B)2.37
Price to Sales (P/S)2.87
P/FCF Ratio-22.97
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥4,460.00Price Target Upside52.79% Upside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)157.9
Revenue Forecast (FY)¥77.34B
Fujimi Incorporated Business Overview & Revenue Model
Company Description
Fujimi Incorporated, established in Kiyosu, Japan, in 1950, specializes in the global production and distribution of high-precision synthetic abrasive materials. With a market presence spanning Japan, Asia, North America, Oceania, and Europe, the ...
How the Company Makes Money
Fujimi makes money by selling consumable precision abrasives and polishing materials to manufacturers that require high-precision surface finishing, with its core demand tied to semiconductor production and related electronics supply chains. Reven...
Fujimi Incorporated Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
85
Very Positive
Cash Flow
52
Neutral
| Breakdown | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 69.40B | 62.50B | 51.42B | 58.39B | 51.73B |
| Gross Profit | 30.03B | 26.34B | 21.22B | 26.34B | 23.53B |
| EBITDA | 16.27B | 14.27B | 10.78B | 15.24B | 14.05B |
| Net Income | 9.06B | 9.43B | 6.50B | 10.59B | 9.16B |
Balance Sheet | |||||
| Total Assets | 121.30B | 90.91B | 84.14B | 80.10B | 76.32B |
| Cash, Cash Equivalents and Short-Term Investments | 31.35B | 27.86B | 34.93B | 36.24B | 36.56B |
| Total Debt | 17.23B | 494.00M | 291.00M | 352.00M | 262.00M |
| Total Liabilities | 36.58B | 14.01B | 11.57B | 11.09B | 13.35B |
| Stockholders Equity | 83.87B | 76.12B | 72.58B | 69.01B | 62.97B |
Cash Flow | |||||
| Free Cash Flow | -8.66B | 413.00M | 3.77B | 5.63B | 7.74B |
| Operating Cash Flow | 12.60B | 12.99B | 7.45B | 7.38B | 9.30B |
| Investing Cash Flow | -20.15B | -15.87B | -5.31B | -822.00M | -1.10B |
| Financing Cash Flow | 12.18B | -5.64B | -5.64B | -6.14B | -3.83B |
Fujimi Incorporated Technical Analysis
Neutral
2919.00
Price Trends
3924.42
Positive
3437.49
Positive
2901.08
Positive
Market Momentum
131.24
Positive
45.87
Neutral
20.17
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:5384, the sentiment is Neutral. The current price of 2919 is below the 20-day moving average (MA) of 4438.75, below the 50-day MA of 3924.42, and above the 200-day MA of 2901.08, indicating a neutral trend. The MACD of 131.24 indicates Positive momentum. The RSI at 45.87 is Neutral, neither overbought nor oversold. The STOCH value of 20.17 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for JP:5384.
Fujimi Incorporated Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | ¥574.63B | 42.25 | ― | 1.02% | 32.81% | 59.74% | |
72 Outperform | ¥99.17B | 15.90 | ― | 1.72% | 23.24% | 55.74% | |
69 Neutral | ¥310.19B | 33.37 | ― | 3.09% | 11.04% | -3.91% | |
64 Neutral | ¥220.02B | 50.31 | 10.10% | 1.00% | 1.66% | -43.46% | |
62 Neutral | ¥174.16B | 26.28 | ― | 2.45% | 2.92% | -19.54% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
61 Neutral | ¥439.91B | 27.18 | 5.77% | 3.28% | 5.30% | -4.93% |
* Technology Sector Average
JP:5384
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Fujimi Incorporated Corporate Events
Fujimi Reviews Board Effectiveness, Targets Better Meeting Materials
May 22, 2026
Fujimi Incorporated has released the results of its FY2026 evaluation of Board of Directors effectiveness, conducted via an anonymous survey of all directors and corporate auditors covering board composition, operations, discussion topics, and sup...
Fujimi Renews Takeover Defense Policy to Guard Against Inappropriate Acquisitions
May 14, 2026
Fujimi Incorporated has renewed its policy on measures against large-scale acquisitions of its share certificates, effectively updating its takeover defense framework subject to shareholder approval at the 74th ordinary general meeting on June 24,...
Fujimi Revamps Dividend Policy to Balance Semiconductor Growth Investment and Stable Payouts
May 14, 2026
Fujimi Incorporated has revised its dividend policy to balance growth investment in the semiconductor market with more stable shareholder returns. While maintaining its existing basic policy of targeting a consolidated payout ratio of at least 55%...
Fujimi to Broaden Chairman’s Role in Governance Under Revised Articles
May 14, 2026
Fujimi Incorporated’s board has approved amendments to its Articles of Incorporation that broaden the roles of its top executives in convening and chairing key corporate meetings. The changes, to be submitted to shareholders in June, will al...
Fujimi to Maintain Governance Continuity With Reappointed Board and Auditor Line‑Up
May 14, 2026
Fujimi Incorporated’s board has approved a slate of director and auditor candidates that will be put to a shareholder vote at the 74th Annual General Shareholders’ Meeting on June 24, 2026, largely reappointing the existing leadership ...
Fujimi Revamps Top Management, Promotes Suzuki to President
May 14, 2026
Fujimi Incorporated has announced a leadership reshuffle, elevating President and CEO Keishi Seki to chairman while promoting managing director Katsuhiro Suzuki to president, with fellow managing director Toshiki Owaki moving to an adviser role. T...
Fujimi Raises Year-End Dividend, Lifts Annual Payout to ¥75 per Share
May 14, 2026
Fujimi Incorporated has approved a year-end dividend of ¥38.33 per share for the fiscal year ended March 31, 2026, subject to shareholder approval at its upcoming annual meeting. This brings the total annual dividend to ¥75 per share, in...
Fujimi Posts Double-Digit Sales Growth and Higher Dividend as Investments Weigh on Equity Ratio
May 14, 2026
Fujimi Incorporated reported consolidated net sales of ¥69.4 billion for the year ended March 31, 2026, up 11.0% year on year, with operating profit rising 17.4% to ¥13.8 billion and ordinary profit climbing 15.7% to ¥14.2 billion. ...
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.