Asti Corporation (6899) AI Stock Analysis

• Market Cap: ¥7.63B
• Dividend Yield: 4.48%
• Average Volume (3M): 8.24K
• Price to Earnings (P/E): 5.1
• Beta (1Y): 0.92
• Revenue Growth: 2.63%
• EPS Growth: -32.95%
• Country: JP
• Employees: 4,346
• Sector: Technology
• Sector Strength: 88
• Industry: Hardware, Equipment & Parts
• EPS (TTM): 120.13
• Shares Outstanding: 3,417,006
• 10 Day Avg. Volume: 7,680
• 30 Day Avg. Volume: 8,243
• PEG Ratio: -0.13
• Price to Book (P/B): 0.26
• Price to Sales (P/S): 0.10
• P/FCF Ratio: 1.61
• 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: 78 Outperform
• Price Target: ¥2,908.00 ▲(39.67% Upside)
• Action: Reiterated Date: 11/28/25
• Date: Action: Reiterated 11/28/25

Asti Corporation's stock is supported by strong technical indicators and attractive valuation metrics, including a low P/E ratio and high dividend yield. The financial performance is solid, with strong cash flow management, though profitability margins are a concern. The absence of earnings call data and corporate events does not impact the score.

Positive Factors

Strong cash generation

A 191.64% jump in free cash flow and an operating cash flow to net income ratio of 8.96 show durable cash-generation capacity. Sustained cash conversion supports capex, dividends or debt reduction, providing a long-term buffer against earnings volatility and funding strategic investments.

Manageable leverage & strong equity base

A debt/equity of 0.55 and a >50% equity ratio indicate conservative balance-sheet structure. This financial flexibility reduces refinancing risk, supports investment or acquisition optionality, and helps absorb shocks over a multi-month horizon without impairing operations.

Solid gross margin

A 9.11% gross margin indicates the business retains a meaningful share of revenue after direct costs, reflecting product pricing or cost advantages. Even with compressed net margins, stable gross profitability underpins the ability to restore operating margins if SG&A or overhead is optimized.

Negative Factors

Low return on equity

An ROE of 2.55% signals weak effectiveness in converting shareholder capital into profit. Persistently low returns constrain long-term shareholder value creation, may reflect inefficient capital allocation, and limit scope for sustained dividend growth or reinvestment.

Profit margin compression

A fall in net margin to 0.95% from 4.24% shows material profit compression. This reduces retained earnings and resilience to cost shocks, making long-term investment, R&D, or dividend maintenance harder unless structural cost or pricing improvements are implemented.

Significant EPS decline

A roughly 76% decline in EPS points to pronounced earnings volatility or one-off hits, undermining confidence in recurring profitability. Such swings limit predictability of cash returns and complicate multi-quarter planning for capital allocation and investor expectations.

Asti Corporation Business Overview & Revenue Model

Company Description

Asti Corporation (6899) is a leading company specializing in the development and manufacturing of advanced technology solutions in the semiconductor industry. The company operates primarily in the electronics sector, focusing on high-performance semiconductor devices, integrated circuits, and related services. Asti Corporation is recognized for its innovative products that cater to a wide range of applications, including consumer electronics, automotive systems, and industrial automation.

How the Company Makes Money

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Asti Corporation Financial Statement Overview

Summary

Asti Corporation displays a solid financial position with moderate revenue growth and strong cash flow management. However, profitability margins have weakened, and return on equity is low, indicating potential operational challenges. The balance sheet reflects a healthy equity base with manageable leverage.

Income Statement

Asti Corporation demonstrates moderate revenue growth with a recent increase of 2.88% in the latest fiscal year. The gross profit margin is healthy at 9.11%, though it has decreased from prior periods. Net profit margin saw a significant drop to 0.95% from the previous year's 4.24%, indicating reduced profitability. EBIT margin is modest at 2.32%, reflecting operational challenges. The EBITDA margin of 5.24% suggests moderate operational efficiency.

Balance Sheet

The company maintains a stable equity position, with a debt-to-equity ratio of 0.55, indicating manageable leverage. Return on equity is low at 2.55%, showing limited profitability on shareholders' equity. The equity ratio stands at 53.29%, highlighting a strong equity base relative to total assets.

Cash Flow

Asti Corporation shows strong cash flow management, with a significant increase in free cash flow by 191.64% over the past year. The operating cash flow to net income ratio is robust at 8.96, indicating strong cash generation relative to net income. Free cash flow to net income is positive at 6.25, reflecting effective cash management.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	65.85B	65.44B	63.61B	64.88B	58.79B	45.21B
Gross Profit	6.41B	5.96B	6.76B	6.14B	4.15B	4.09B
EBITDA	3.51B	3.52B	4.51B	3.65B	1.97B	2.54B
Net Income	334.63M	624.90M	2.70B	1.51B	702.95M	1.39B
Balance Sheet
Total Assets	44.35B	46.05B	48.01B	46.36B	42.75B	34.73B
Cash, Cash Equivalents and Short-Term Investments	4.12B	4.39B	3.19B	2.84B	1.96B	2.19B
Total Debt	12.65B	13.50B	15.72B	17.04B	16.00B	10.00B
Total Liabilities	20.56B	21.47B	23.69B	25.25B	23.48B	16.79B
Stockholders Equity	23.75B	24.54B	24.29B	21.09B	19.26B	17.92B
Cash Flow
Free Cash Flow	0.00	3.91B	1.47B	174.59M	-6.21B	-1.31B
Operating Cash Flow	0.00	5.60B	3.22B	4.91B	-4.75B	153.83M
Investing Cash Flow	0.00	-1.46B	-1.96B	-4.98B	-1.36B	-1.49B
Financing Cash Flow	0.00	-2.72B	-1.63B	890.99M	5.70B	1.46B

Asti Corporation Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 2082.00
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:6899, the sentiment is Negative. The current price of 2082 is below the 20-day moving average (MA) of 2545.75, below the 50-day MA of 2628.22, and below the 200-day MA of 2206.90, indicating a neutral trend. The MACD of -48.42 indicates Positive momentum. The RSI at 39.26 is Neutral, neither overbought nor oversold. The STOCH value of 26.92 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:6899.

Asti Corporation Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
6899	78 Outperform	¥7.63B	5.13	―	4.48%	2.63%	-32.95%
6806	78 Outperform	¥703.28B	15.50	8.07%	2.85%	11.18%	-0.75%
6981	74 Outperform	¥6.91T	59.16	8.95%	1.88%	2.88%	28.76%
6800	74 Outperform	¥70.75B	12.79	―	2.20%	4.75%	164.54%
6908	70 Outperform	¥80.38B	10.57	―	3.05%	10.79%	12.28%
6807	64 Neutral	¥158.77B	29.59	5.91%	2.39%	-3.24%	-25.21%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%