Miyakoshi Holdings, Inc. (6620) AI Stock Analysis

• Market Cap: ¥30.21B
• Dividend Yield: N/A
• Average Volume (3M): 82.79K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.41
• Revenue Growth: -33.10%
• EPS Growth: -49.56%
• Country: JP
• Employees: 26
• Sector: Financial
• Sector Strength: 70
• Industry: Asset Management
• EPS (TTM): -25.21
• Shares Outstanding: 40,014,942
• 10 Day Avg. Volume: 54,670
• 30 Day Avg. Volume: 82,786
• PEG Ratio: -4.37
• Price to Book (P/B): 1.94
• Price to Sales (P/S): 49.45
• P/FCF Ratio: 391.83
• 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): N/A
• Revenue Forecast (FY): N/A

• Rating: 55 Neutral
• Price Target: ¥924.00 ▲(12.82% Upside)
• Action: Reiterated Date: 12/30/25
• Date: Action: Reiterated 12/30/25

The score is held up by strong underlying financial stability (debt-free balance sheet and high profitability), but is significantly weighed down by a weak technical trend (below key moving averages with negative MACD) and an expensive valuation (very high P/E with no dividend yield provided).

Positive Factors

Debt-free Balance Sheet

A zero-debt, conservative balance sheet materially reduces financial risk and preserves strategic optionality. Over the next 2–6 months this durability supports resilience to downturns, funding of opportunistic investments or M&A without external financing, and steady operations.

Sustained High Profitability

Consistently elevated gross, operating, and net margins provide a persistent earnings cushion that supports reinvestment and cash generation. High margins improve resilience against revenue volatility and offer the company structural capacity to maintain profitability through industry cycles.

Operating Cash Flow Exceeds Net Income

Operating cash flow above reported net income signals high earnings quality and strong cash generation capability. This durable cash conversion enhances internal funding for capex and working capital, reducing reliance on external financing and supporting sustainable operations.

Negative Factors

Multi-year Revenue Contraction

Persistent top-line declines over several years indicate structural demand or market-share challenges. Even with high margins, shrinking revenue limits scalability, reduces operating leverage benefits, and constrains long-term earnings growth unless the company reverses the decline.

Weakened Free Cash Flow Conversion

A marked drop in free cash flow conversion reduces the company's ability to fund growth, returns, or buffer shocks despite positive operating cash flow. Volatility in FCF increases financing sensitivity for investments and raises uncertainty about sustainable cash available to stakeholders.

Modest Shareholder Returns / Low ROE

Low return on equity despite a growing equity base suggests capital is underutilized and may signal inefficient deployment of resources. Over months this can pressure long-term shareholder value creation and limit the firm's ability to demonstrate attractive returns relative to peers.

Miyakoshi Holdings, Inc. Business Overview & Revenue Model

Company Description

Miyakoshi Holdings, Inc., through its subsidiaries, engages in promoting Shenzhen municipal integrated development activities. It also plans and promotes for the development of environment and energy conservation projects; and invests in projects located in Japan, China, and other Asian countries. Miyakoshi Holdings, Inc. was founded in 1966 and is headquartered in Tokyo, Japan.

How the Company Makes Money

Miyakoshi Holdings, Inc. generates revenue primarily through the sale of its printing machinery and related equipment. The company earns income from the manufacturing and distribution of digital and offset printers, which are sold to businesses and organizations requiring large-scale printing capabilities. Additionally, Miyakoshi offers consumables and maintenance services, providing ongoing support and parts for their machines, thereby creating a continuous revenue stream. Key partnerships with global distributors and service providers expand their market reach, contributing significantly to their earnings. The company also invests in research and development to maintain a competitive edge and meet the evolving needs of their clients.

Miyakoshi Holdings, Inc. Financial Statement Overview

Summary

Strong financial stability supported by a debt-free balance sheet and consistently high margins, but offset by multi-year revenue contraction and a meaningful deterioration in free cash flow conversion in 2025.

Income Statement

Profitability is a clear strength, with consistently very high gross and operating margins and strong net margins across the period. However, growth is the key concern: revenue has been contracting for multiple years (2022–2025), including a notable decline in 2025, and earnings have also come down versus prior peaks—suggesting a weaker top-line trajectory despite still-solid profitability.

Balance Sheet

The balance sheet is very conservative with zero debt reported throughout the period, indicating minimal financial risk and high flexibility. Equity and assets have steadily increased over time, supporting stability. The main drawback is modest shareholder returns (low return on equity in the most recent year), which points to capital being underutilized relative to the size of the equity base.

Cash Flow

Cash generation is positive, with operating cash flow exceeding net income in the most recent year, which supports earnings quality. That said, free cash flow has been volatile and weakened meaningfully in 2025 versus 2024, and the conversion of net income into free cash flow dropped sharply—indicating less cash available after spending needs.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	916.00M	1.03B	1.14B	1.32B	1.41B	1.62B
Gross Profit	483.00M	579.00M	944.00M	1.12B	1.23B	1.47B
EBITDA	722.00M	906.00M	801.00M	803.00M	788.00M	1.29B
Net Income	242.00M	365.00M	536.00M	501.00M	658.00M	756.00M
Balance Sheet
Total Assets	28.13B	28.86B	27.71B	26.87B	26.20B	24.78B
Cash, Cash Equivalents and Short-Term Investments	11.26B	11.84B	11.00B	9.98B	9.40B	8.18B
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00
Total Liabilities	684.00M	867.00M	1.06B	1.19B	1.30B	1.52B
Stockholders Equity	25.86B	26.32B	25.16B	24.30B	23.65B	22.22B
Cash Flow
Free Cash Flow	0.00	130.00M	702.00M	421.00M	538.00M	946.00M
Operating Cash Flow	0.00	473.00M	744.00M	630.00M	539.00M	947.00M
Investing Cash Flow	0.00	-530.00M	-258.00M	-334.00M	-874.00M	-375.00M
Financing Cash Flow	0.00	0.00	0.00	-199.00M	1.00M	0.00

Miyakoshi Holdings, Inc. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 819.00
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:6620, the sentiment is Negative. The current price of 819 is below the 20-day moving average (MA) of 829.30, below the 50-day MA of 835.82, and below the 200-day MA of 1000.90, indicating a bearish trend. The MACD of -15.58 indicates Positive momentum. The RSI at 34.87 is Neutral, neither overbought nor oversold. The STOCH value of 16.43 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:6620.

Miyakoshi Holdings, Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
8737	76 Outperform	¥23.10B	6.54	―	5.27%	18.05%	34.17%
3772	69 Neutral	¥21.06B	24.68	―	1.85%	-40.77%	-91.81%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
2998	67 Neutral	¥27.98B	13.67	―	0.66%	10.67%	6.94%
4310	65 Neutral	¥28.76B	28.48	―	18.63%	21.38%	―
7347	62 Neutral	¥14.55B	8.77	―	2.52%	1.35%	-91.61%
6620	55 Neutral	¥30.21B	-32.87	―	―	-33.10%	-49.56%

Miyakoshi Holdings, Inc. Corporate Events

Miyakoshi Holdings Books Extraordinary Losses and Slashes Full-Year Forecasts

Miyakoshi Holdings has booked significant extraordinary losses after deciding to demolish buildings owned by its Shenzhen subsidiary Crown Electronics for the World Innovation Center redevelopment and recognizing impairment on related non-current assets, mainly land-use rights. Additional provisions for demolition and removal costs and extra retirement benefits tied to headcount reductions in the rental management department further weighed on results.

Following a review of the recoverability of deferred tax assets amid weaker earnings prospects, the company reversed these assets and recorded deferred tax expenses, prompting a sharp downgrade to its full-year forecast for the year ending March 31, 2026. Operating revenue and profit projections were cut as tenant move-outs finished earlier than planned and labor costs rose, with Miyakoshi now expecting an operating loss and a net loss of ¥1.0 billion, a marked deterioration from both its previous guidance and the prior fiscal year’s performance.

The most recent analyst rating on (JP:6620) stock is a Hold with a Yen837.00 price target. To see the full list of analyst forecasts on Miyakoshi Holdings, Inc. stock, see the JP:6620 Stock Forecast page.

Miyakoshi Holdings Swings to Deep Loss as Revenue Plunges and Forecasts Are Cut

Miyakoshi Holdings, Inc. reported a sharp deterioration in results for the nine months ended December 31, 2025, with operating revenue sliding 52.9% year on year to ¥384 million and a swing to a net loss of ¥938 million, compared with a profit a year earlier. Basic earnings per share fell to a loss of ¥23.46, while total assets and shareholders’ equity declined modestly, pushing comprehensive income deep into negative territory and highlighting mounting pressure on the balance sheet.

The company maintained its no-dividend stance, confirming a zero payout for the current fiscal year, and revised its full-year forecast to project a 62.5% drop in operating revenue to ¥386 million and a net loss of ¥1.0 billion. Despite a still-high equity ratio above 90%, the combination of steep revenue contraction, sustained losses and unchanged capital structure signals a challenging operating environment and limited immediate returns for shareholders, with investors likely to focus on management’s ability to stabilize earnings.

The most recent analyst rating on (JP:6620) stock is a Hold with a Yen837.00 price target. To see the full list of analyst forecasts on Miyakoshi Holdings, Inc. stock, see the JP:6620 Stock Forecast page.

Miyakoshi Holdings to Demolish Shenzhen Subsidiary Facilities for Urban Renewal Project

Miyakoshi Holdings has approved the demolition of factory, dormitory, dining, and annex buildings at its consolidated subsidiary Shenzhen Crown (China) Electronics’ Crown Industrial Park in Shenzhen’s Futian District, clearing a site of roughly 94,000 square meters as part of the previously announced World Innovation Center urban renewal and redevelopment initiative. The demolition work, expected to take about five months under a Futian District government permit, marks a significant step in the group’s shift toward a redeveloped innovation-focused facility, while the company is still assessing demolition-related costs and the potential impact on consolidated earnings for the fiscal year ending March 2026 and beyond.

The most recent analyst rating on (JP:6620) stock is a Hold with a Yen838.00 price target. To see the full list of analyst forecasts on Miyakoshi Holdings, Inc. stock, see the JP:6620 Stock Forecast page.