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Fuji
(6134)
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Rating:67Neutral
Price Target:
¥9,206.00
▲(23.94% Upside)
Action:Reiterated
Date:06/09/26
The score is primarily supported by an exceptionally conservative, debt-free balance sheet and generally constructive technicals. Offsetting these positives are weak and volatile recent cash generation (including negative free cash flow) and a high P/E with only a modest dividend yield, which together reduce the margin of safety.
Positive Factors
Debt-free balance sheet
The company's zero-debt, highly capitalized balance sheet materially reduces financial and interest-rate risk, providing flexibility to invest through cycles, fund aftermarket support and absorb demand shocks. That resilience supports durable operations and strategic optionality over months.
Negative Factors
Volatile cash generation
Sharp OCF decline and a negative free cash flow year highlight inconsistent cash conversion. Unreliable cash generation constrains self-funding of capex, working capital and shareholder returns, and increases reliance on operational improvement to restore financial flexibility over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-free balance sheet
The company's zero-debt, highly capitalized balance sheet materially reduces financial and interest-rate risk, providing flexibility to invest through cycles, fund aftermarket support and absorb demand shocks. That resilience supports durable operations and strategic optionality over months.
Read all positive factors
Fuji (6134) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥699.91B
Dividend Yield1.24%
Average Volume (3M)246.13K
Price to Earnings (P/E)28.1
Beta (1Y)1.67
Revenue Growth44.87%
EPS Growth65.81%
CountryJP
Employees3,132
SectorIndustrials
Sector Strength72
IndustryIndustrial - Machinery
Share Statistics
EPS (TTM)257.92
Shares Outstanding97,823,746
10 Day Avg. Volume287,850
30 Day Avg. Volume246,133
Financial Highlights & Ratios
PEG Ratio0.53
Price to Book (P/B)1.77
Price to Sales (P/S)2.27
P/FCF Ratio-168.72
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥11,000.00Price Target Upside48.09% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)416.21
Revenue Forecast (FY)¥228.54B
Fuji Business Overview & Revenue Model
Company Description
Headquartered in Chiryu, Japan, and founded in 1959, Fuji Corporation is a manufacturer and seller of industrial machinery and machine tools primarily within the Japanese market. Its business activities are structured into two distinct divisions: ...
How the Company Makes Money
Fuji primarily makes money by selling factory-automation capital equipment for electronics assembly, especially SMT mounters/pick-and-place systems used by electronics manufacturers and electronics manufacturing services (EMS) providers. Revenue i...
Fuji Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
90
Very Positive
Cash Flow
48
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 199.72B | 180.64B | 127.39B | 127.06B | 153.33B | 148.13B |
| Gross Profit | 77.71B | 66.28B | 46.64B | 46.24B | 60.65B | 58.49B |
| EBITDA | 46.98B | 35.10B | 26.56B | 24.68B | 39.11B | 39.20B |
| Net Income | 22.67B | 15.73B | 10.91B | 10.44B | 20.45B | 21.19B |
Balance Sheet | ||||||
| Total Assets | 291.20B | 278.36B | 244.29B | 250.94B | 254.17B | 243.31B |
| Cash, Cash Equivalents and Short-Term Investments | 64.16B | 54.92B | 59.78B | 64.65B | 64.12B | 67.06B |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 48.23B | 45.90B | 25.61B | 22.66B | 29.06B | 34.53B |
| Stockholders Equity | 242.83B | 232.32B | 218.56B | 228.16B | 224.99B | 208.66B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -2.43B | 8.89B | 15.54B | 2.20B | 5.53B |
| Operating Cash Flow | 0.00 | 9.18B | 23.41B | 30.19B | 12.99B | 15.72B |
| Investing Cash Flow | 0.00 | -6.97B | -11.42B | -12.37B | -5.78B | -11.60B |
| Financing Cash Flow | 0.00 | -9.04B | -16.20B | -17.15B | -7.95B | -6.51B |
Fuji Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | ¥363.57B | 13.84 | 8.66% | 1.84% | 15.90% | 104.65% | |
67 Neutral | ¥699.91B | 28.14 | 6.46% | 1.21% | 44.87% | 65.81% | |
66 Neutral | ¥373.94B | 22.21 | ― | 2.50% | 11.01% | 29.70% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
58 Neutral | ¥530.54B | 27.03 | 6.59% | 1.65% | -7.97% | 78.01% | |
58 Neutral | ¥776.64B | 19.38 | -22.79% | 3.14% | 1.98% | -48.28% | |
56 Neutral | ¥548.70B | 184.76 | 2.07% | 0.30% | 11.76% | -21.18% |
* Industrials Sector Average
JP:6134
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Fuji Corporate Events
Fuji Corporation Issues Q1 FY2027 Financial Results Materials
Aug 3, 2026
Fuji Corporation has released explanatory materials summarizing its financial results for the first quarter of the fiscal year ending March 2027. The document is aimed at investors and stakeholders on the Tokyo and Nagoya stock exchanges, reflecti...
Fuji Raises Earnings Forecast on Strong AI Server Equipment Demand
Aug 3, 2026
Fuji Corporation has sharply upgraded its earnings outlook for the first half of fiscal 2026, projecting consolidated net sales of ¥127 billion and profit attributable to owners of parent of ¥23.8 billion, both significantly above its Ma...
Fuji Corporation Posts Strong Q1 Rebound and Lifts Full-Year Outlook
Aug 3, 2026
Fuji Corporation reported a sharp rebound in earnings for the quarter ended June 30, 2026, with net sales climbing 45.9% year on year to ¥60.6 billion and operating profit surging 192.6% to ¥15.2 billion. Ordinary profit rose 182.0% to &...
Fuji Completes Disposal of Treasury Shares for Director Stock Compensation
Jul 24, 2026
Fuji Corporation has completed the payment procedures for the disposal of 6,143 treasury shares as part of a transfer-restricted stock compensation plan for its directors. The move follows a June 26, 2026 board resolution, with the shares priced a...
Fuji to Allocate Treasury Shares Under Director Stock Compensation Plan
Jun 26, 2026
Fuji Corporation’s board has approved the disposal of 6,143 treasury shares to implement its transfer-restricted stock compensation system for four internal directors. The shares will be allotted at 8,463 yen each, for a total of about 51.99...
Fuji Board Shake-Up as Outside Director Resigns Ahead of Shareholder Meeting
Jun 22, 2026
Fuji Corporation announced that outside board member Makoto Iwasaki resigned as director on 22 June 2026 and has withdrawn his candidacy for reappointment. As a result, the company has amended its proposal for the 80th ordinary general meeting of ...
Fuji Outlines Upcoming Financial Results Briefing and Mid-Term Plan Review
May 14, 2026
Fuji Corporation has released a high-level outline of materials for its financial results briefing and a second-year review of its mid-term business plan for the fiscal year ending March 31, 2026. The document indicates that the company will prese...
Fuji Books ¥9.7 Billion Impairment on Subsidiary but Raises Dividend
May 14, 2026
Fuji Corporation has booked an extraordinary impairment loss of ¥9.69 billion on goodwill and intangible assets linked to subsidiary Fasford Technology, after project shipment delays and heightened uncertainty in the semiconductor market unde...
Fuji Corporation Doubles Profits and Plans Sharp Dividend Hike on Strong Fiscal 2026 Results
May 14, 2026
Fuji Corporation reported a strong rebound in earnings for the fiscal year ended March 31, 2026, with net sales climbing 41.8% to ¥180.6 billion and operating profit more than doubling to ¥29.3 billion. Profit attributable to owners of t...
Fuji Sets Out 2026 Earnings Briefing and Mid-Term Plan Review
May 14, 2026
Fuji Corporation has released materials for a financial results briefing covering the fiscal year ending March 31, 2026, along with a second-year review of its mid-term business plan. The brief outlines past performance, forecasts, and progress ag...
Fuji Takes ¥9.7 Billion Impairment at Fasford but Lifts Dividend Amid Semiconductor Volatility
May 14, 2026
Fuji Corporation reported an extraordinary loss due to a ¥9.69 billion impairment on goodwill and intangible assets at subsidiary Fasford Technology, after project shipment delays and heightened uncertainty in the semiconductor market undermi...
Fuji Corporation Posts Strong Earnings Rebound and Plans Sharp Dividend Hike
May 14, 2026
Fuji Corporation reported a sharp rebound in earnings for the fiscal year ended March 31, 2026, with net sales climbing 41.8% to ¥180.6 billion and operating profit more than doubling, driving profit attributable to owners of the parent up 44...
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.