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Mimaki Engineering Co., Ltd.
(6638)
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Rating:74Outperform
Price Target:
¥2,494.00
▲(12.90% Upside)
Action:Upgraded
Date:05/15/26
The score is driven primarily by solid financial performance (strong profitability and improved leverage) but held back by weak and volatile cash flow conversion. Technicals are supportive with price above moving averages, though momentum looks overbought. Valuation is a key positive with a very low P/E and a ~3% dividend yield.
Positive Factors
Profitability recovery
Mimaki’s multi-year earnings recovery and materially higher margins indicate durable operational improvements. Sustained ~49% gross margin and double-digit operating leverage support reinvestment in product development and service, underpinning long-term earnings resilience if demand holds.
Negative Factors
Volatile cash conversion
Inconsistent conversion of profits to cash undermines financial durability. Weak operating cash flow versus accounting income limits reliable self-funding of capex, working capital, and shareholder returns, and increases reliance on external financing during adverse cycles if not corrected.
Read all positive and negative factors
Positive Factors
Negative Factors
Profitability recovery
Mimaki’s multi-year earnings recovery and materially higher margins indicate durable operational improvements. Sustained ~49% gross margin and double-digit operating leverage support reinvestment in product development and service, underpinning long-term earnings resilience if demand holds.
Read all positive factors
Mimaki Engineering Co., Ltd. (6638) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥57.01B
Dividend Yield2.95%
Average Volume (3M)90.30K
Price to Earnings (P/E)8.2
Beta (1Y)1.32
Revenue Growth0.95%
EPS Growth17.19%
CountryJP
Employees2,152
SectorTechnology
Sector Strength88
IndustryTechnology Distributors
Share Statistics
EPS (TTM)233.01
Shares Outstanding32,040,000
10 Day Avg. Volume154,270
30 Day Avg. Volume90,296
Financial Highlights & Ratios
PEG Ratio0.73
Price to Book (P/B)1.13
Price to Sales (P/S)0.54
P/FCF Ratio27.65
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)259.2
Revenue Forecast (FY)¥94.00B
Mimaki Engineering Co., Ltd. Business Overview & Revenue Model
Company Description
Mimaki Engineering Co., Ltd., a Japanese enterprise, operates internationally, specializing in the development, manufacturing, and global distribution of digital fabrication equipment and associated software solutions. Their extensive hardware ran...
How the Company Makes Money
Mimaki primarily makes money through (1) sales of hardware systems and (2) recurring revenue tied to those installed systems. The core revenue stream is the sale of digital inkjet printers and cutting plotters (including units targeted at sign/gra...
Mimaki Engineering Co., Ltd. Financial Statement Overview
Summary
Income Statement
83
Very Positive
Balance Sheet
74
Positive
Cash Flow
46
Neutral
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 83.73B | 83.96B | 75.63B | 70.61B | 59.51B |
| Gross Profit | 41.20B | 41.13B | 34.75B | 28.45B | 23.85B |
| EBITDA | 11.59B | 10.92B | 7.25B | 6.00B | 4.63B |
| Net Income | 6.74B | 6.16B | 3.71B | 2.81B | 2.35B |
Balance Sheet | |||||
| Total Assets | 82.89B | 76.17B | 75.72B | 69.79B | 60.86B |
| Cash, Cash Equivalents and Short-Term Investments | 16.37B | 15.45B | 17.37B | 10.49B | 8.97B |
| Total Debt | 23.87B | 22.94B | 28.50B | 28.85B | 23.87B |
| Total Liabilities | 42.78B | 43.80B | 48.33B | 47.73B | 42.14B |
| Stockholders Equity | 39.90B | 32.22B | 27.26B | 21.99B | 18.67B |
Cash Flow | |||||
| Free Cash Flow | 1.64B | 5.81B | 7.91B | -1.72B | -6.35B |
| Operating Cash Flow | 4.62B | 7.86B | 9.56B | 490.41M | -5.13B |
| Investing Cash Flow | -5.39B | -2.44B | -2.60B | -3.50B | -2.71B |
| Financing Cash Flow | -1.32B | -7.54B | -1.44B | 3.52B | 4.28B |
Mimaki Engineering Co., Ltd. Technical Analysis
Negative
2209.00
Price Trends
1964.06
Negative
1807.53
Positive
1731.90
Positive
Market Momentum
-3.98
Positive
42.71
Neutral
20.90
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:6638, the sentiment is Negative. The current price of 2209 is above the 20-day moving average (MA) of 2107.30, above the 50-day MA of 1964.06, and above the 200-day MA of 1731.90, indicating a neutral trend. The MACD of -3.98 indicates Positive momentum. The RSI at 42.71 is Neutral, neither overbought nor oversold. The STOCH value of 20.90 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:6638.
Mimaki Engineering Co., Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | ¥329.45B | 10.87 | ― | 3.08% | 14.49% | 9.23% | |
74 Outperform | ¥57.01B | 8.23 | ― | 2.67% | 0.95% | 17.19% | |
74 Outperform | ¥256.63B | 8.06 | 18.07% | 2.94% | 24.06% | 105.61% | |
72 Outperform | ¥64.10B | 16.42 | ― | 4.12% | 12.94% | 85.20% | |
64 Neutral | ¥48.19B | 15.58 | ― | 5.16% | 2.80% | -33.11% | |
62 Neutral | ¥14.04B | 8.43 | ― | 3.67% | 1.45% | 13.08% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% |
* Technology Sector Average
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Mimaki Engineering Co., Ltd. Corporate Events
Mimaki Engineering to Grant Restricted Treasury Shares to Directors and Executives
Jul 24, 2026
Mimaki Engineering Co., Ltd. has approved the disposal of 13,414 treasury shares as restricted stock-based compensation to its directors and executive officers. The shares, priced at 2,210 yen each for a total of 29,644,940 yen, will be allocated ...
Mimaki Engineering Overhauls Executive Lineup to Strengthen Global Governance
Jun 24, 2026
Mimaki Engineering Co., Ltd. has announced a broad reshuffle of its executive officer lineup, effective July 1, 2026, confirming Kazuaki Ikeda as Representative Director, President and CEO and maintaining key C-suite roles such as CTO and CFO. The...
Mimaki Unveils FY2025 Results Materials and Hybrid UV Printer Strategy
May 27, 2026
Mimaki Engineering has presented materials for its FY2025 fourth-quarter and full-year financial results, alongside a forecast for the FY2026 business year, indicating ongoing disclosure around its performance and outlook. The company also outline...
Mimaki Engineering Reshapes Board Ahead of June 2026 Shareholders’ Meeting
May 26, 2026
Mimaki Engineering has announced planned changes to its board structure, with the appointment of Shuji Kitazawa, currently Executive General Manager of the Corporate Management Division, as a new director. In addition, outside director and certifi...
Mimaki Engineering Unveils FY2025 Results and New Hybrid UV Printer
May 13, 2026
Mimaki Engineering has presented materials outlining its consolidated financial results for the fourth quarter and full FY2025 period, alongside its business forecast for FY2026. The disclosure signals ongoing efforts to inform investors on perfor...
Mimaki Engineering Lifts Profit and Dividends on Flat Sales, Sees Revenue Growth but Earnings Pressure Ahead
May 13, 2026
Mimaki Engineering reported flat consolidated net sales of ¥83.7 billion for the year ended March 31, 2026, but improved profitability, with operating profit up 3.5% to ¥9.4 billion and profit attributable to owners of parent rising 9.5%...
Mimaki Engineering Lifts Payout With 50th-Anniversary Commemorative Dividend
May 8, 2026
Mimaki Engineering has approved a year-end dividend of 30 yen per share for the fiscal year ended March 31, 2026, comprising a 25 yen ordinary dividend and a 5 yen commemorative dividend to mark its 50th anniversary, with total cash dividends of 8...
Mimaki Engineering Raises Full-Year Forecast, Expects Record Profits
May 8, 2026
Mimaki Engineering has revised upward its consolidated forecast for the fiscal year ended March 2026, projecting higher net sales of ¥83.7 billion and record-high profits at all levels compared with its previous outlook. The upgrade reflects ...
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.