KIYO Learning Co Ltd (7353) AI Stock Analysis

• Market Cap: ¥4.04B
• Dividend Yield: N/A
• Average Volume (3M): 17.23K
• Price to Earnings (P/E): 15.9
• Beta (1Y): 0.54
• Revenue Growth: 13.50%
• EPS Growth: -19.59%
• Country: JP
• Employees: 104
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Education & Training Services
• EPS (TTM): 29.66
• Shares Outstanding: 6,869,500
• 10 Day Avg. Volume: 14,310
• 30 Day Avg. Volume: 17,233
• PEG Ratio: 0.40
• Price to Book (P/B): 2.93
• Price to Sales (P/S): 0.93
• P/FCF Ratio: 6.49
• 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): 43.8
• Revenue Forecast (FY): ¥5.80B

• Rating: 64 Neutral
• Price Target: ¥688.00 ▲(0.44% Upside)
• Action: Reiterated Date: 02/18/26
• Date: Action: Reiterated 02/18/26

The score is driven primarily by solid financial performance, led by strong and improving cash flow and manageable leverage, but is materially held back by weak technicals (below major moving averages with negative momentum). Valuation appears reasonable based on the P/E, providing moderate support.

Positive Factors

Strong cash generation

Consistent positive operating and free cash flow, with a sharp step-up in 2025, indicates durable cash conversion. This strengthens the company's ability to fund organic growth, service debt, and support shareholder returns without reliance on external financing, improving long-term financial resilience.

Improving leverage profile

A downward trend in debt-to-equity and improving leverage through 2024 enhances financial flexibility and lowers refinancing risk. An improving balance sheet supports strategic investments and cushions operating volatility, making the business better positioned to execute multi-year initiatives and sustain operations through cycles.

Sustained revenue growth & high gross profit

Multi-year top-line growth combined with persistently high gross margins signals structural strengths in the business model and pricing. This creates a margin buffer to absorb operating cost volatility, supports reinvestment in curriculum or tech, and underpins scalable profitability over the medium term.

Negative Factors

Sharp slowdown in 2025 revenue growth

A dramatic deceleration from ~18% to ~5% growth reduces revenue visibility and delays operating leverage benefits. If the slowdown persists it can compress margins and cash flow, making it harder to sustain recent balance sheet improvements and fund strategic investments without adding leverage.

Volatility in profitability and free cash flow

Repeated year-to-year swings in FCF and profit reduce predictability for capital allocation, dividends, and debt reduction. Even with a 2025 rebound, recurring volatility raises execution risk and complicates planning, increasing dependence on management maintaining tight cost and working capital control.

Absolute debt remains meaningful

Although leverage ratios improved, materially higher absolute debt vs earlier years leaves the company exposed to interest and refinancing risks if earnings falter. Continued profitability and cash generation are necessary to sustain balance sheet health and preserve capacity for strategic moves.

KIYO Learning Co Ltd Business Overview & Revenue Model

Company Description

KIYO Learning Co.,Ltd. engages in planning, production, sale, and operation of educational content and services for business people in Japan. The company was founded in 2010 and is headquartered in Tokyo, Japan.

How the Company Makes Money

KIYO Learning generates revenue through multiple streams, primarily by offering subscription-based access to its online learning platforms and resources. This model allows schools and educational institutions to purchase licenses for their students and staff, providing a steady income. Additionally, the company earns revenue through the sale of educational content and materials, including e-books and interactive learning modules. Strategic partnerships with schools, educational organizations, and technology providers enhance its market reach and contribute to overall earnings, while also enabling the development of tailored solutions that meet specific educational needs.

KIYO Learning Co Ltd Financial Statement Overview

Summary

Strong cash generation with consistently positive operating and free cash flow and a sharp improvement in 2025; balance sheet leverage appears manageable with improving trends through 2024. Offsetting this are a sharp slowdown in 2025 revenue growth and historical volatility in profitability and free cash flow, with EBIT still modest.

Income Statement

Revenue has grown strongly over the long run (2020–2024), but growth slowed sharply in 2025 (about 5% vs. ~18% in 2024). Profitability recovered meaningfully after a loss in 2022, with net income rising from 2023 to 2025 and high gross profit levels remaining a clear strength. The main weakness is that operating profitability is still modest versus revenue (EBIT remains low), and results have shown volatility across the cycle (notably 2022).

Balance Sheet

Leverage looks manageable and has improved versus earlier years, with debt to equity trending down from 2022–2024 while equity has expanded. The company also improved shareholder returns from 2023 to 2024, reflecting better earnings power. Offsetting this, total debt is still meaningful in absolute terms and increased materially compared with 2020–2021, so continued profitability is important to keep balance sheet risk contained.

Cash Flow

Cash generation is a standout: operating cash flow and free cash flow are consistently positive, and 2025 shows a sharp step-up in both versus 2024. Free cash flow has generally tracked profit well in years where the relationship is available, supporting earnings quality. The key weakness is year-to-year volatility in free cash flow (notably declines in 2021, 2022, and 2024), which reduces predictability despite the strong 2025 rebound.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	4.78B	5.03B	4.47B	3.80B	2.85B	2.26B
Gross Profit	4.04B	4.20B	3.83B	3.27B	2.43B	1.90B
EBITDA	342.90M	404.42M	293.63M	199.43M	-115.40M	214.63M
Net Income	239.13M	294.14M	209.63M	112.25M	-220.93M	124.64M
Balance Sheet
Total Assets	4.25B	4.98B	4.36B	3.96B	3.41B	2.77B
Cash, Cash Equivalents and Short-Term Investments	3.26B	4.09B	3.48B	3.19B	2.79B	2.27B
Total Debt	451.58M	453.98M	457.00M	481.33M	533.10M	180.34M
Total Liabilities	3.06B	3.38B	3.06B	2.87B	2.44B	1.59B
Stockholders Equity	1.19B	1.60B	1.30B	1.08B	965.72M	1.18B
Cash Flow
Free Cash Flow	0.00	722.94M	301.00M	492.57M	215.07M	318.11M
Operating Cash Flow	0.00	726.19M	433.05M	600.91M	313.61M	440.41M
Investing Cash Flow	0.00	-115.26M	-132.04M	-146.48M	-148.54M	-91.70M
Financing Cash Flow	0.00	113.00K	-18.96M	-47.54M	348.71M	94.65M

KIYO Learning Co Ltd Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 685.00
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:7353, the sentiment is Negative. The current price of 685 is above the 20-day moving average (MA) of 592.40, above the 50-day MA of 641.54, and below the 200-day MA of 708.38, indicating a bearish trend. The MACD of -18.33 indicates Negative momentum. The RSI at 40.67 is Neutral, neither overbought nor oversold. The STOCH value of 77.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:7353.

KIYO Learning Co Ltd Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
9470	75 Outperform	¥44.39B	28.75	―	2.28%	7.30%	60.93%
9560	74 Outperform	¥9.43B	9.46	―	2.06%	29.06%	41.54%
7353	64 Neutral	¥4.04B	15.95	―	―	13.50%	-19.59%
9345	63 Neutral	¥2.13B	9.78	―	1.92%	4.25%	-6.45%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
7097	62 Neutral	¥12.77B	36.73	―	0.84%	8.44%	17.98%
6096	55 Neutral	¥2.84B	6.04	―	1.68%	-4.16%	―