Heiwa (6412) AI Stock Analysis

• Market Cap: ¥190.36B
• Dividend Yield: 4.02%
• Average Volume (3M): 318.26K
• Price to Earnings (P/E): 6.9
• Beta (1Y): 0.38
• Revenue Growth: 45.31%
• EPS Growth: -36.42%
• Country: JP
• Employees: 5,034
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Leisure
• EPS (TTM): 73.50
• Shares Outstanding: 99,809,060
• 10 Day Avg. Volume: 232,390
• 30 Day Avg. Volume: 318,263
• PEG Ratio: -0.83
• Price to Book (P/B): 0.95
• Price to Sales (P/S): 1.58
• P/FCF Ratio: 37.74
• 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): 143.9
• Revenue Forecast (FY): ¥266.32B

• Rating: 53 Neutral
• Price Target: ¥2,015.00 ▼(-1.32% Downside)
• Action: Reiterated Date: 02/18/26
• Date: Action: Reiterated 02/18/26

The score is primarily held back by elevated balance-sheet leverage and reduced net profitability despite strong revenue growth and solid operating margins. Weak technicals (price below key moving averages and negative MACD) further pressure the outlook, while the ~4% dividend yield provides some valuation support.

Positive Factors

Revenue Growth

Sustained TTM revenue growth of +13.7% indicates persistent end-market demand and successful product cycles in the pachinko/pachislot segment. Over 2–6 months this supports stable order flow, capacity utilization, and pricing leverage tied to new game releases and licensed content adoption.

Negative Factors

High Leverage

Debt-to-equity around 2.48x represents materially elevated leverage versus prior years and increases refinancing and liquidity risk. Over months this reduces financial flexibility, raises interest expense sensitivity, and constrains the company's ability to invest or absorb weaker machine-sales cycles without additional capital actions.

Heiwa Business Overview & Revenue Model

Company Description

Heiwa Corporation develops, manufactures, and sells pachinko and pachislot machines in Japan. It is also involved in the golf course business. The company was formerly known as Heiwa Kogyo Co., Ltd. Heiwa Corporation was founded in 1949 and is bas...

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Heiwa Corporation develops, manufactures, and sells pachinko and pachislot machines in Japan. It is also involved in the golf course business. The company was formerly known as Heiwa Kogyo Co., Ltd. Heiwa Corporation was founded in 1949 and is bas...

How the Company Makes Money

Heiwa generates revenue primarily through the sale of pachinko machines to operators throughout Japan. The company typically earns income from the initial sale of these machines, as well as ongoing revenue from service and maintenance contracts. A...

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Heiwa generates revenue primarily through the sale of pachinko machines to operators throughout Japan. The company typically earns income from the initial sale of these machines, as well as ongoing revenue from service and maintenance contracts. A...

Heiwa Financial Statement Overview

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	233.64B	145.87B	136.38B	142.29B	121.56B	107.74B
Gross Profit	79.09B	52.49B	46.80B	49.31B	33.40B	29.04B
EBITDA	67.04B	36.76B	32.44B	35.71B	20.32B	14.33B
Net Income	9.54B	13.06B	16.61B	20.68B	2.19B	865.00M
Balance Sheet
Total Assets	1.10T	1.05T	428.03B	423.73B	417.07B	430.07B
Cash, Cash Equivalents and Short-Term Investments	87.42B	92.25B	57.75B	67.76B	67.10B	70.13B
Total Debt	622.01B	641.55B	106.84B	108.64B	114.42B	123.15B
Total Liabilities	849.63B	807.28B	188.84B	192.72B	199.88B	203.83B
Stockholders Equity	253.72B	244.12B	239.19B	231.00B	217.19B	226.24B
Cash Flow
Free Cash Flow	9.16B	6.13B	2.67B	17.90B	13.43B	-312.00M
Operating Cash Flow	37.27B	24.93B	13.93B	25.59B	20.44B	7.03B
Investing Cash Flow	-506.19B	-500.03B	2.71B	-15.22B	2.04B	-5.87B
Financing Cash Flow	495.74B	509.94B	-11.22B	-14.50B	-17.36B	-3.07B

Heiwa Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 2042.00
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:6412, the sentiment is Negative. The current price of 2042 is above the 20-day moving average (MA) of 1960.20, above the 50-day MA of 1998.54, and above the 200-day MA of 2041.36, indicating a bearish trend. The MACD of -23.53 indicates Positive momentum. The RSI at 41.83 is Neutral, neither overbought nor oversold. The STOCH value of 28.55 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:6412.

Heiwa Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
4680	67 Neutral	¥251.43B	29.55	―	1.51%	11.92%	33.70%
7832	62 Neutral	¥2.64T	18.69	15.67%	1.94%	9.86%	-1.06%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
6412	53 Neutral	¥190.36B	6.91	3.83%	4.02%	45.31%	-36.42%
9166	53 Neutral	¥110.78B	32.53	―	―	62.69%	-37.72%
4343	52 Neutral	¥47.38B	49.41	―	―	6.00%	-184.09%
6425	42 Neutral	¥55.48B	-0.27	-78.01%	―	-14.08%	54.85%

Heiwa Corporate Events