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Siix Corporation (JP:7613)
:7613
Japanese Market

Siix Corporation (7613) AI Stock Analysis

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JP:7613

Siix Corporation

(7613)

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Neutral 67 (OpenAI - 5.2)
Rating:67Neutral
Price Target:
¥1,301.00
▼(-0.61% Downside)
Action:ReiteratedDate:02/18/26
The score is driven primarily by improving balance sheet and supportive cash generation, partially offset by recent revenue declines and sharp margin compression. Technicals add support with price above key moving averages and a positive MACD, while valuation is constrained by a ~25x P/E despite a ~3.6% dividend yield.
Positive Factors
Improving Balance Sheet
Siix's meaningful reduction in leverage and steady equity build increase financial resilience. Lower debt improves flexibility to fund capex, weather cyclical EMS demand, and pursue strategic supplier/customer initiatives without relying on short-term financing, supporting multi‑month stability.
Positive Free Cash Flow
Sustained positive free cash flow since the recent trough supports internal funding for working capital and selective investments. For a contract manufacturer, reliable cash conversion strengthens supplier terms, funds capacity adjustments, and reduces refinancing risk over the next several months.
Stable Gross Margins & EMS Model
A consistent gross margin band combined with Siix's EMS and supply‑chain services offers durable unit economics. Stable production margins help preserve operating leverage as volumes recover and underpin long‑term customer relationships and recurring service revenue despite top‑line cycles.
Negative Factors
Revenue Contraction
Two consecutive years of declining revenue undermine scale benefits and can erode pricing leverage with suppliers/customers. Reduced volumes raise per‑unit fixed costs in EMS operations and may pressure margins and investment plans over the next several quarters if recovery is slow.
Margin & Earnings Compression
Sharp compression in operating and net margins after 2023 indicates structural pressure—pricing, mix, or cost inflation—that can persist. Lower profitability reduces retained earnings and reinvestment capacity, making earnings recovery and stable returns more difficult over a 2–6 month horizon.
Cyclical Cash Flow Risk
Historic swings in operating cash flow expose Siix to funding and working capital stress during downturns. Even with recent positive FCF, the uneven track record means management may need to curtail investments or increase external funding when order volumes dip, affecting medium‑term operations.

Siix Corporation (7613) vs. iShares MSCI Japan ETF (EWJ)

Siix Corporation Business Overview & Revenue Model

Company DescriptionSIIX Corporation engages in the parts procurement, logistics, trading, and electronics manufacturing businesses in Japan and internationally. It is involved in the sale and distribution of electronic components; manufacturing plastic molding and die products; and circuit board mounting, assembly, and processing of devices and components used in automobile equipment, industrial devices, household electrical appliances, information equipment, general electronic parts, and others. The company also offers design for manufacturability technical support services; and design for localization services. In addition, it offers various logistics services, including kitting, vendor managed inventory, and just in time to support the inventory management systems; and joint design and manufacturing services in the fields of optics and sensors, communications and IoT, robotics, raw materials, and energy management. SIIX Corporation was founded in 1957 and is headquartered in Osaka, Japan.
How the Company Makes MoneySiix generates revenue primarily by providing manufacturing and supply chain services to corporate customers. Key revenue streams typically include: (1) electronics manufacturing services (EMS)—earning manufacturing/processing fees and margins by assembling electronic products and modules to customer specifications; (2) trading/procurement—earning gross margin on the resale and coordinated procurement of electronic components and materials for customers; and (3) related services tied to production and supply chain execution, such as logistics coordination and delivery management, which can be embedded in product pricing or billed as service fees depending on contract terms. The company’s earnings are influenced by customer production volumes, the mix of manufacturing vs. trading activity (which affects margin structure), and its ability to manage component sourcing, quality, and cost across global supply chains. Specific quantitative breakdowns (e.g., segment revenue percentages, named major customers, or disclosed partnership details) are null.

Siix Corporation Financial Statement Overview

Summary
Overall financial quality is moderate. Balance sheet strength is improving with meaningfully lower leverage and higher equity, and recent free cash flow is positive. Offsetting this, revenue turned negative in 2024–2025 and profitability compressed sharply from 2023 levels, reducing near-term earnings stability.
Income Statement
56
Neutral
Revenue expanded strongly in 2021–2023, but growth turned negative in 2024 and 2025, signaling a recent slowdown. Profitability has been volatile: net margin peaked in 2023 and then compressed sharply in 2024–2025, with net income down materially versus the 2023 high. Gross margin has been fairly stable around ~9–10%, but the recent decline in operating and net profitability suggests weaker pricing, mix, or cost pressure.
Balance Sheet
72
Positive
Leverage has improved meaningfully, with debt-to-equity declining from elevated levels in 2020–2022 to a more moderate level by 2025, alongside a steady build in equity. Total assets have remained broadly stable while the company reduced debt, which improves financial flexibility. Return on equity was strong in 2023 but cooled in 2024, consistent with the earnings step-down.
Cash Flow
68
Positive
Cash generation has improved versus earlier years, with operating cash flow and free cash flow turning solidly positive after weakness in 2021–2022. Free cash flow remains positive in 2023–2025 and broadly tracks earnings, supporting balance-sheet strengthening. That said, cash flow has been somewhat uneven over the cycle (including negative periods), which tempers confidence in consistency.
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue295.87B289.49B302.31B309.77B277.03B226.83B
Gross Profit29.50B28.21B28.61B30.85B25.79B20.12B
EBITDA19.38B18.02B17.25B21.18B16.50B11.09B
Net Income5.00B2.49B3.75B8.19B4.73B4.56B
Balance Sheet
Total Assets198.50B207.86B217.48B216.84B205.17B169.92B
Cash, Cash Equivalents and Short-Term Investments23.08B30.07B22.82B18.24B13.79B9.48B
Total Debt43.63B39.75B52.87B60.24B61.26B50.01B
Total Liabilities102.70B104.07B116.45B127.29B127.78B103.55B
Stockholders Equity95.30B103.25B100.49B89.10B76.96B65.96B
Cash Flow
Free Cash Flow0.0023.36B16.62B9.47B-3.54B-16.24B
Operating Cash Flow0.0026.54B23.10B19.80B5.57B-8.11B
Investing Cash Flow0.00-2.26B-9.09B-10.39B-8.89B-7.76B
Financing Cash Flow0.00-16.40B-12.32B-5.99B6.68B869.00M

Siix Corporation Technical Analysis

Technical Analysis Sentiment
Negative
Last Price1309.00
Price Trends
50DMA
1321.52
Negative
100DMA
1304.27
Negative
200DMA
1266.39
Negative
Market Momentum
MACD
-33.45
Positive
RSI
34.95
Neutral
STOCH
7.57
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:7613, the sentiment is Negative. The current price of 1309 is below the 20-day moving average (MA) of 1332.40, below the 50-day MA of 1321.52, and above the 200-day MA of 1266.39, indicating a bearish trend. The MACD of -33.45 indicates Positive momentum. The RSI at 34.95 is Neutral, neither overbought nor oversold. The STOCH value of 7.57 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:7613.

Siix Corporation Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
78
Outperform
¥705.09B15.508.07%2.85%11.18%-0.75%
74
Outperform
¥71.68B12.792.20%4.75%164.54%
67
Neutral
¥56.67B24.803.56%-4.40%-15.23%
64
Neutral
¥158.70B29.595.91%2.39%-3.24%-25.21%
61
Neutral
$37.18B12.37-10.20%1.83%8.50%-7.62%
55
Neutral
¥28.89B3.470.31%1.75%-14.20%
47
Neutral
¥37.61B9.092.26%-2.53%-85.61%
* Technology Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
JP:7613
Siix Corporation
1,199.00
170.85
16.62%
JP:6986
Futaba
681.00
162.35
31.30%
JP:6806
HIROSE ELECTRIC CO
21,455.00
4,200.46
24.34%
JP:6807
Japan Aviation Electronics Industry
2,301.00
-400.24
-14.82%
JP:6997
Nippon Chemi-Con Corporation
1,525.00
623.00
69.07%
JP:6800
Yokowo Co., Ltd.
3,075.00
1,622.11
111.65%

Siix Corporation Corporate Events

SIIX Plans Large Secondary Share Offering to Boost Liquidity and Support Bank Stake Sales
Mar 9, 2026

SIIX Corporation has approved a secondary offering of 4,392,000 shares of its common stock, to be sold by three major Japanese banks, with the final selling price to be set between 90% and 100% of the prevailing market price around mid-March 2026. The transaction, executed through underwriters, does not raise new capital for SIIX but is expected to enhance share liquidity and broaden the investor base while enabling the selling banks to partially unwind their holdings.

In conjunction with this, SIIX will also support an over-allotment option for up to an additional 658,800 shares, to be sold by the lead manager through borrowed shares, with a greenshoe option available to stabilize post-offering trading. The flexible size of the over-allotment portion, which may be reduced or cancelled depending on demand, is designed to support orderly price formation and mitigate volatility as the market absorbs the increased free float.

The most recent analyst rating on (JP:7613) stock is a Buy with a Yen1532.00 price target. To see the full list of analyst forecasts on Siix Corporation stock, see the JP:7613 Stock Forecast page.

SIIX Raises Year-End Dividend, Lifting Annual Shareholder Payout
Feb 12, 2026

SIIX Corporation has approved a year-end dividend of ¥25 per share for the fiscal year ended December 31, 2025, up from the previously forecast ¥24 and the prior year’s ¥24, bringing total annual dividends to ¥49 per share versus ¥48 a year earlier. The total year-end payout will be ¥1,178 million, sourced from retained earnings, and the proposal, aligned with the company’s policy of stable and continuous profit distribution, will be submitted for approval at the 34th Annual General Meeting of Shareholders scheduled for March 26, 2026, underscoring a modest enhancement of shareholder returns while preserving funds for future growth.

The most recent analyst rating on (JP:7613) stock is a Hold with a Yen1449.00 price target. To see the full list of analyst forecasts on Siix Corporation stock, see the JP:7613 Stock Forecast page.

SIIX Posts Lower FY2025 Sales but Strong Cash Flow and Projects Earnings Rebound in 2026
Feb 12, 2026

SIIX Corp. reported full-year 2025 consolidated net sales of ¥289.5 billion, down 4.2% year on year, while operating profit inched up 3.4% to ¥8.9 billion and ordinary profit rose 11.4% to ¥9.2 billion, but profit attributable to owners of parent fell 33.7% to ¥2.5 billion, reflecting compressed margins and weaker comprehensive income. Despite lower earnings per share of ¥52.82 and a decline in total assets, equity increased and the equity ratio improved to 49.7%, with strong operating cash flow of ¥26.5 billion underpinning higher year-end cash, and the company slightly raised its annual dividend to ¥49 per share while forecasting a recovery in 2026 to ¥300 billion in net sales and a sharp rebound in profit attributable to owners of parent to ¥6 billion, implying a more than doubling of EPS and signaling management’s confidence in earnings normalization and continued shareholder returns.

The firm’s 2025 cash flow profile showed robust inflows from operations and disciplined investment spending, while financing cash outflows, including dividends, weighed on cash but still left a stronger year-end liquidity position that may support future growth initiatives. For 2026, SIIX guides to modest top-line growth and mid-single-digit operating profit expansion, although it expects ordinary profit to edge down, suggesting potential changes in non-operating items, but the projected 141.1% surge in profit attributable to owners points to improved profitability and capital efficiency that could be supportive for shareholders if achieved.

The most recent analyst rating on (JP:7613) stock is a Hold with a Yen1449.00 price target. To see the full list of analyst forecasts on Siix Corporation stock, see the JP:7613 Stock Forecast page.

SIIX Corp. Lifts Profitability and Cash, Hikes Dividend Despite Lower Sales
Feb 12, 2026

SIIX Corp. reported fiscal 2025 consolidated net sales of ¥289.5 billion, down 4.2% year on year, while operating profit edged up 3.4% to ¥8.9 billion and ordinary profit rose 11.4% to ¥9.2 billion. Profit attributable to owners of parent fell 33.7% to ¥2.5 billion, compressing basic earnings per share to ¥52.82, even as stronger operating cash flow lifted year-end cash and cash equivalents to ¥29.8 billion.

The company’s equity ratio improved to 49.7% and net assets rose to ¥103.8 billion, underpinned by higher comprehensive income and a modest reduction in total assets. SIIX raised its annual dividend to ¥49 per share for 2025 and plans ¥50 for 2026, while forecasting a recovery in 2026 with sales of ¥300 billion and a sharp rebound in bottom-line profitability, projecting profit attributable to owners of parent of ¥6.0 billion and significantly higher earnings per share.

The most recent analyst rating on (JP:7613) stock is a Hold with a Yen1449.00 price target. To see the full list of analyst forecasts on Siix Corporation stock, see the JP:7613 Stock Forecast page.

SIIX to Book ¥5.4 Billion Valuation Loss on Overseas Subsidiaries
Feb 5, 2026

SIIX Corporation has resolved to record an extraordinary loss of ¥5,416 million on the valuation of its investments in three wholly owned subsidiaries—SIIX HUBEI Co., Ltd. in China, SIIX Hungary Kft., and SIIX EMS Slovakia s.r.o.—after a significant decline in their substantive value. The impairment will be booked in the company’s non-consolidated financial statements for the fiscal year ending December 31, 2025, but will be fully eliminated in consolidated accounts because the subsidiaries’ financial positions are already reflected there, limiting the impact primarily to the parent company’s standalone results rather than group-level performance.

The most recent analyst rating on (JP:7613) stock is a Hold with a Yen1449.00 price target. To see the full list of analyst forecasts on Siix Corporation stock, see the JP:7613 Stock Forecast page.

SIIX Raises Full-Year Profit Outlook Despite Slight Dip in Sales Forecast
Feb 5, 2026

SIIX Corporation has revised its full-year consolidated earnings forecast for the fiscal year ended December 31, 2025, slightly lowering projected net sales but raising profit estimates. While net sales are now expected to be marginally lower than previously forecast, the company has upgraded its outlook for operating profit and ordinary profit, and more than doubled its forecast for profit attributable to owners of the parent, resulting in a substantial increase in projected earnings per share. The higher profit forecast reflects reduced downside risk from earlier concerns over fixed asset valuation at Chinese subsidiaries amid a weak real estate market and from the liquidation of a European subsidiary, suggesting improved visibility on one-off impacts and a more resilient earnings profile for shareholders.

The most recent analyst rating on (JP:7613) stock is a Hold with a Yen1449.00 price target. To see the full list of analyst forecasts on Siix Corporation stock, see the JP:7613 Stock Forecast page.

Siix Corporation Announces Strategic Personnel Changes to Strengthen Leadership
Dec 18, 2025

Siix Corporation has announced personnel changes within its Board of Directors and executive team, effective March 26, 2026, following approval at the forthcoming Annual General Shareholders’ Meeting. These changes include the appointment of three new outside directors with substantial leadership experience and global acumen, and adjustments in leadership roles for current executives to optimize corporate management operations. This strategic restructuring aims to enhance corporate governance and operational efficiency, aligning with the company’s growth objectives.

The most recent analyst rating on (JP:7613) stock is a Hold with a Yen1298.00 price target. To see the full list of analyst forecasts on Siix Corporation stock, see the JP:7613 Stock Forecast page.

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.Date of analysis: Feb 18, 2026