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SANDEN HOLDINGS
(6444)
SANDEN HOLDINGS (6444) vs. iShares MSCI Japan ETF (EWJ)
SANDEN HOLDINGS Business Overview & Revenue Model
SANDEN HOLDINGS Financial Statement Overview
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 183.37B | 190.88B | 183.85B | 179.28B | 175.68B | 159.45B |
| Gross Profit | 26.95B | 28.20B | 26.71B | 20.44B | 21.65B | 13.06B |
| EBITDA | 1.44B | 5.54B | 7.81B | -6.08B | 1.95B | -11.78B |
| Net Income | -4.55B | 274.00M | -777.00M | -3.36B | -1.67B | 21.18B |
Balance Sheet | ||||||
| Total Assets | 176.45B | 185.63B | 175.46B | 162.54B | 157.43B | 151.19B |
| Cash, Cash Equivalents and Short-Term Investments | 16.67B | 18.13B | 17.89B | 22.75B | 18.62B | 27.54B |
| Total Debt | 79.26B | 84.31B | 73.37B | 62.13B | 55.33B | 48.59B |
| Total Liabilities | 158.01B | 157.50B | 151.88B | 141.70B | 134.06B | 127.35B |
| Stockholders Equity | 17.42B | 26.71B | 22.63B | 20.19B | 22.48B | 22.90B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -6.67B | -14.48B | -2.54B | -16.11B | -12.94B |
| Operating Cash Flow | 0.00 | 2.67B | -4.46B | 9.37B | -10.13B | -7.41B |
| Investing Cash Flow | 0.00 | -6.47B | -12.79B | -11.60B | -4.49B | -5.21B |
| Financing Cash Flow | 0.00 | 5.02B | 9.48B | 5.79B | 5.08B | 19.73B |
SANDEN HOLDINGS Technical Analysis
SANDEN HOLDINGS Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
84 Outperform | ¥474.15B | 8.69 | 6.33% | 2.71% | 0.75% | 35.26% | |
77 Outperform | ¥2.09T | 12.58 | 8.34% | 2.03% | 4.33% | 524.86% | |
75 Outperform | ¥595.80B | 13.50 | 8.26% | 2.62% | 1.44% | -0.92% | |
70 Outperform | ¥66.41B | 7.67 | ― | 0.99% | -0.83% | -27.20% | |
67 Neutral | ¥6.19T | 16.31 | 6.98% | 2.98% | 2.41% | 11.03% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
48 Neutral | ¥21.51B | 78.50 | -20.61% | ― | -0.46% | -181.96% |
SANDEN HOLDINGS Corporate Events
Sanden Corporation has set the terms for a third-party allotment of 500,000 new common shares, all to be issued to three company directors at an issue price of JPY 165 per share. The offering, scheduled for payment on March 23, 2026, will raise gross proceeds of JPY 82.5 million, with estimated net proceeds of JPY 75.5 million after issuance costs.
The primary objective of this share issuance is to provide incentives to directors, aligning their motivation and morale with the group’s performance targets and long-term corporate value growth. While the company notes that fundraising is not the main purpose, the net proceeds will be used as working capital, and the pricing method, set at or above recent market closing prices, is positioned as fair to existing shareholders.
The most recent analyst rating on (JP:6444) stock is a Hold with a Yen158.00 price target. To see the full list of analyst forecasts on SANDEN HOLDINGS stock, see the JP:6444 Stock Forecast page.
Sanden Corporation’s board has approved a third-party allotment of up to 500,000 new common shares, primarily to three company directors, with an expected proceeds ceiling of ¥71.5 million based on a provisional issue price that will be finalized in line with market conditions. The pricing mechanism is designed to reflect any post-earnings stock price rise to protect existing shareholders and limit dilution, while the plan requires executives to buy shares with their own funds, strengthening their equity stake, aligning incentives with shareholders, and supporting ongoing efforts to restore growth, bolster the balance sheet, and lift corporate value.
The allotment forms part of a broader performance-linked equity initiative that encourages management to share both risks and returns with investors, reinforcing commitments to governance norms that call for closer alignment between directors and shareholders. By tying management more tightly to the company’s stock performance and signaling confidence in its recovery trajectory, Sanden aims to accelerate business growth strategies and financial efficiency improvements with only a minimal dilutive impact on current shareholders.
The most recent analyst rating on (JP:6444) stock is a Sell with a Yen133.00 price target. To see the full list of analyst forecasts on SANDEN HOLDINGS stock, see the JP:6444 Stock Forecast page.
Sanden Corporation will propose a new performance-linked restricted share compensation plan for certain internal directors at its March 31, 2026 shareholders’ meeting, aiming to more closely align executive pay with corporate performance and share price while enhancing value sharing with shareholders. The plan, capped at JPY 300 million annually and separate from existing director compensation, ties the lifting of transfer restrictions on shares to net income targets and individual performance from 2026 to 2028 and uses stock provided by parent Hisense Japan Automotive Air-Conditioning Systems, signaling a stronger performance-based governance framework that could better motivate management and support long-term corporate value.
Under the scheme, eligible directors who invest their own funds in Sanden shares via specified third-party allotments will receive monetary compensation claims that are exchanged for restricted shares held by the parent company, with up to 1,750,000 shares subject to the program and adjustments for stock splits or similar actions. By extending a similar structure to executive officers and certain employees if approved, Sanden is broadening equity-linked incentives across management and key staff, which may improve retention, align stakeholder interests, and reinforce the company’s strategic execution in a challenging automotive supply environment.
The most recent analyst rating on (JP:6444) stock is a Sell with a Yen133.00 price target. To see the full list of analyst forecasts on SANDEN HOLDINGS stock, see the JP:6444 Stock Forecast page.
Sanden Corporation announced that auditor Jiahui Sun will resign effective March 30, 2026, due to personnel changes within the Hisense Group that position her as a candidate for director at the company. To fill the impending vacancy, the board resolved to propose Li Jia, currently General Manager of the Audit Department at Hisense Group Holdings, as a new auditor at the March 31, 2026, shareholders’ meeting, highlighting her extensive audit and financial management experience as a means to strengthen governance, transparency, and long-term corporate value.
The appointment of Li Jia underscores Sanden’s continued integration with the broader Hisense Group and signals a further alignment of its oversight functions with the parent company’s internal control and audit framework. For stakeholders, the move suggests a tighter linkage between Sanden’s governance structures and Hisense’s financial and audit standards, which may bolster confidence in the company’s internal controls and support its efforts to enhance sustainable corporate growth.
The most recent analyst rating on (JP:6444) stock is a Sell with a Yen133.00 price target. To see the full list of analyst forecasts on SANDEN HOLDINGS stock, see the JP:6444 Stock Forecast page.
Sanden Corporation has proposed a new slate of eight directors, including the reappointment of President and Representative Director Xu Zhan and several new internal and outside directors, for approval at its 100th Annual General Meeting of Shareholders on March 31, 2026. The company will also see the retirement of Chairman and Representative Director Gao Yuling and other directors, shifting to a single Representative Director structure to clarify management roles and accelerate decision-making.
Among the new director candidates are Zhang He and Sun Jiahui, both senior executives from Hisense Group with deep expertise in smart manufacturing, IT, and financial management, signaling a stronger alignment with digital transformation and rigorous financial oversight. The continued service of Wang Zhigang as Vice President Executive Officer after stepping down as director further supports operational continuity, while the refreshed board composition aims to strengthen governance and support Sanden’s long-term growth strategy.
The most recent analyst rating on (JP:6444) stock is a Sell with a Yen133.00 price target. To see the full list of analyst forecasts on SANDEN HOLDINGS stock, see the JP:6444 Stock Forecast page.
Sanden Corporation’s board has approved a proposal to partially amend its Articles of Incorporation by increasing the total number of shares authorized to be issued from 112,200,000 to 113,450,000 shares. The change, subject to shareholder approval at the 100th Ordinary General Meeting scheduled for March 31, 2026, is intended to prepare the company for potential future equity issuance, which could support capital-raising, strategic investments, or balance-sheet measures and may affect shareholder dilution and capital structure over time.
The most recent analyst rating on (JP:6444) stock is a Sell with a Yen133.00 price target. To see the full list of analyst forecasts on SANDEN HOLDINGS stock, see the JP:6444 Stock Forecast page.
Sanden Corporation announced that its Board of Directors has appointed Zhang Ning as a new Corporate Officer effective January 22, 2026, with responsibility for Japan Business Management. The move signals a reinforcement of leadership dedicated to the company’s operations in Japan, and may influence how Sanden executes its strategy and manages performance in its core domestic market.
The most recent analyst rating on (JP:6444) stock is a Sell with a Yen133.00 price target. To see the full list of analyst forecasts on SANDEN HOLDINGS stock, see the JP:6444 Stock Forecast page.
Sanden Corporation announced that as of the Tokyo Stock Exchange’s assessment date of December 31, 2025, it now meets all listing maintenance criteria for the Standard Market, having resolved its previous shortfall in the ratio of circulating shares while maintaining positive net assets and sufficient market capitalization and shareholder numbers. To improve stock liquidity and diversify its shareholder base, its parent company, Hisense Japan Automotive Air-Conditioning Systems Corporation, transferred 2 million Sanden shares via an off-auction transaction on the TSE in November 2025, and Sanden indicated it will continue initiatives to enhance liquidity, strengthen corporate governance, and engage more actively with investors to secure stable long-term compliance and support sustainable growth.
The most recent analyst rating on (JP:6444) stock is a Sell with a Yen133.00 price target. To see the full list of analyst forecasts on SANDEN HOLDINGS stock, see the JP:6444 Stock Forecast page.