Heiwa Corporation (JP:6412)
:6412
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Heiwa
(6412)
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Rating:53Neutral
Price Target:
¥1,908.00
▼(-6.56% Downside)
Action:Reiterated
Date:05/15/26
The score is held back mainly by balance-sheet risk from sharply higher leverage and weaker net profitability/cash conversion, with technical indicators also signaling soft momentum. These are partially offset by a reasonable P/E and an attractive dividend yield.
Positive Factors
Operating profitability
Sustained high operating and EBITDA margins indicate durable core profitability from machine manufacturing and services. Strong unit-level economics give the company capacity to fund R&D, support product launches, and maintain operations through leisure demand cycles, bolstering long-term resilience.
Negative Factors
Elevated leverage
The material step-up in leverage meaningfully increases financial risk and interest burden. A debt-heavy capital structure constrains capital allocation, raises refinancing risk and reduces flexibility to fund new product cycles or absorb demand shocks over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Operating profitability
Sustained high operating and EBITDA margins indicate durable core profitability from machine manufacturing and services. Strong unit-level economics give the company capacity to fund R&D, support product launches, and maintain operations through leisure demand cycles, bolstering long-term resilience.
Read all positive factors
Heiwa (6412) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥185.43B
Dividend Yield4.02%
Average Volume (3M)318.26K
Price to Earnings (P/E)15.8
Beta (1Y)0.36
Revenue Growth76.95%
EPS Growth-10.67%
CountryJP
Employees5,034
SectorConsumer Cyclical
Sector Strength84
IndustryLeisure
Share Statistics
EPS (TTM)118.33
Shares Outstanding99,809,060
10 Day Avg. Volume232,390
30 Day Avg. Volume318,263
Financial Highlights & Ratios
PEG Ratio-1.48
Price to Book (P/B)0.74
Price to Sales (P/S)0.71
P/FCF Ratio18.48
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)217.3
Revenue Forecast (FY)¥269.31B
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...
How the Company Makes Money
Heiwa makes money mainly through two business segments. (1) Pachinko/pachislot machine business: The company earns revenue by developing, manufacturing, and selling pachinko and pachislot machines to pachinko hall operators. Earnings in this segme...
Heiwa Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
38
Negative
Cash Flow
45
Neutral
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 258.11B | 145.87B | 136.38B | 142.29B | 121.56B |
| Gross Profit | 85.48B | 52.49B | 46.80B | 49.31B | 33.40B |
| EBITDA | 74.23B | 36.76B | 32.44B | 35.71B | 20.32B |
| Net Income | 11.67B | 13.06B | 16.61B | 20.68B | 2.19B |
Balance Sheet | |||||
| Total Assets | 1.08T | 1.05T | 428.03B | 423.73B | 417.07B |
| Cash, Cash Equivalents and Short-Term Investments | 61.33B | 92.25B | 57.75B | 67.76B | 67.10B |
| Total Debt | 593.57B | 641.55B | 106.84B | 108.64B | 114.42B |
| Total Liabilities | 828.66B | 807.28B | 188.84B | 192.72B | 199.88B |
| Stockholders Equity | 248.68B | 244.12B | 239.19B | 231.00B | 217.19B |
Cash Flow | |||||
| Free Cash Flow | 9.97B | 6.13B | 2.67B | 17.90B | 13.43B |
| Operating Cash Flow | 41.21B | 24.93B | 13.93B | 25.59B | 20.44B |
| Investing Cash Flow | -20.63B | -500.03B | 2.71B | -15.22B | 2.04B |
| Financing Cash Flow | -46.00B | 509.94B | -11.22B | -14.50B | -17.36B |
Heiwa Technical Analysis
Negative
2042.00
Price Trends
1924.95
Negative
1951.75
Negative
1992.78
Negative
Market Momentum
-7.30
Negative
47.42
Neutral
32.03
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 1894.84, above the 50-day MA of 1924.95, and above the 200-day MA of 1992.78, indicating a neutral trend. The MACD of -7.30 indicates Negative momentum. The RSI at 47.42 is Neutral, neither overbought nor oversold. The STOCH value of 32.03 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
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | ¥2.44T | 17.78 | 15.67% | 1.94% | 8.60% | 10.04% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
61 Neutral | ¥233.70B | 12.92 | ― | 1.51% | ― | ― | |
53 Neutral | ¥185.43B | 15.79 | 3.83% | 4.02% | 76.95% | -10.67% | |
53 Neutral | ¥91.07B | 18.63 | ― | ― | 52.78% | -7.69% | |
51 Neutral | ¥50.11B | 17.63 | ― | ― | 6.93% | ― | |
48 Neutral | ¥63.07B | -0.07 | -78.01% | ― | 4.03% | -747.77% |
* Consumer Cyclical Sector Average
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Heiwa Corporate Events
Heiwa Extends Golf-Focused Shareholder Benefit Program for FY 2027
May 13, 2026
Heiwa Corporation will continue its shareholder benefit program for the fiscal year ending March 31, 2027, offering coupons twice a year to investors holding at least 200 shares. These coupons, worth ¥1,000 each and usable up to 16 per visit,...
Heiwa Overhauls Leadership Ahead of Shift to Holding Company Structure
May 13, 2026
Heiwa Corporation has approved a series of leadership and board changes as it prepares to shift to a holding company structure and rebrand as HEIWA HOLDINGS INC. on October 1, 2026, transferring its Pachinko and Pachi slot machine operations to a ...
Heiwa to Shift to Pure Holding Company Structure via Company Split
May 13, 2026
Heiwa Corporation has approved a transition to a pure holding company structure by transferring the rights and obligations of its pachinko and pachislot machine business to a newly incorporated, wholly owned subsidiary, effective October 1, 2026. ...
Heiwa Beats Full-Year Profit Forecast on Lower Costs and Asset Gains
May 13, 2026
Heiwa Corporation reported that its full-year consolidated results for the fiscal year ended March 2026 modestly exceeded its earlier net sales forecast while significantly outperforming profit projections. Net sales came in roughly in line with g...
Heiwa Signals Earnings Recovery With Strong FY2026 Results and Bullish Outlook
May 13, 2026
Heiwa Corporation posted a sharp rebound in sales and profits for the fiscal year ended March 31, 2026, with net sales surging 76.9% to ¥258.1 billion and operating profit climbing 56.8% to ¥43.4 billion, supported by stronger operations...
Heiwa Expands Golf Portfolio With Acquisition of Kitakyushu Golf Course Operator
Mar 27, 2026
Heiwa’s consolidated subsidiary Pacific Golf Management will acquire all shares of Kitakyushu Golf Corporation, a new entity that will assume the Seitanomori Kitakyushu Golf Course in Fukuoka from Dia Rix Corporation. The move will turn Kita...
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.