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Meiwa Corporation
(8103)
Meiwa Corporation (8103) vs. iShares MSCI Japan ETF (EWJ)
Meiwa Corporation Business Overview & Revenue Model
Meiwa Corporation Financial Statement Overview
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 155.81B | 156.73B | 158.28B | 156.66B | 143.03B | 130.20B |
| Gross Profit | 13.29B | 12.55B | 11.55B | 11.70B | 10.89B | 9.31B |
| EBITDA | 5.62B | 5.01B | 4.39B | 3.59B | 3.93B | 2.08B |
| Net Income | 3.60B | 3.38B | 2.75B | 1.72B | 2.41B | 1.20B |
Balance Sheet | ||||||
| Total Assets | 75.10B | 74.63B | 85.36B | 81.28B | 76.95B | 70.65B |
| Cash, Cash Equivalents and Short-Term Investments | 8.51B | 8.38B | 9.60B | 8.42B | 5.25B | 9.44B |
| Total Debt | 3.60B | 1.60B | 4.99B | 7.95B | 7.59B | 5.51B |
| Total Liabilities | 36.74B | 35.72B | 46.57B | 45.35B | 40.98B | 35.95B |
| Stockholders Equity | 37.76B | 38.47B | 38.31B | 35.48B | 35.68B | 34.43B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 4.16B | 5.43B | 4.01B | -3.38B | 3.96B |
| Operating Cash Flow | 0.00 | 4.33B | 5.66B | 4.07B | -3.31B | 4.49B |
| Investing Cash Flow | 0.00 | 350.00M | -202.00M | 804.00M | -320.00M | -542.00M |
| Financing Cash Flow | 0.00 | -5.81B | -4.35B | -1.72B | -670.00M | -1.65B |
Meiwa Corporation Technical Analysis
Meiwa Corporation Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | ¥87.28B | 14.20 | ― | 3.38% | 10.74% | -26.50% | |
78 Outperform | ¥45.59B | 5.27 | ― | 3.87% | 2.66% | -11.41% | |
73 Outperform | ¥53.11B | 13.47 | ― | 3.00% | 16.06% | 31.78% | |
67 Neutral | ¥32.29B | 14.30 | ― | 4.05% | -3.82% | 18.03% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
62 Neutral | ¥70.46B | 15.26 | ― | 3.17% | 5.95% | 23.97% | |
61 Neutral | ¥148.24B | 9.98 | ― | 2.42% | 9.74% | 6.48% |
Meiwa Corporation Corporate Events
Meiwa Corporation has set the specific repurchase period for its previously announced share buyback program, confirming it will acquire its own common shares on the Tokyo Stock Exchange between March 10, 2026 and October 30, 2026. The buyback, authorized up to 3.4 million shares, or 8.43% of outstanding shares excluding treasury stock, with a cap of ¥2.5 billion, is subject to market conditions and may not be fully executed.
All shares repurchased under this program are scheduled to be cancelled on November 30, 2026, effectively reducing Meiwa’s total shares outstanding and potentially enhancing per-share value for remaining shareholders. The move underscores a commitment to capital discipline and shareholder returns, and may strengthen the company’s equity structure and market valuation over the medium term.
The most recent analyst rating on (JP:8103) stock is a Buy with a Yen1114.00 price target. To see the full list of analyst forecasts on Meiwa Corporation stock, see the JP:8103 Stock Forecast page.
Meiwa Corporation has set the terms for a secondary offering of its common stock, establishing an offer price of 849 yen per share for a purchased and underwritten tranche totaling approximately 5.77 billion yen, with settlement scheduled for March 9, 2026. The subscription price to underwriters is set slightly lower, at 809.58 yen per share, translating into about 5.51 billion yen in proceeds at the underwriting level.
In a parallel move, Meiwa is also conducting an over-allotment secondary offering of 1,020,000 shares at the same offer price of 849 yen per share, adding roughly 866 million yen in stock supplied to the market on the same delivery date. The combined structure, including over-allotment, is designed to support liquidity and price stability around the transaction while broadening Meiwa’s shareholder base, although the shares being offered are secondary and do not directly raise new capital for the company.
The most recent analyst rating on (JP:8103) stock is a Buy with a Yen1114.00 price target. To see the full list of analyst forecasts on Meiwa Corporation stock, see the JP:8103 Stock Forecast page.
Meiwa Corporation has announced a series of executive officer personnel changes effective April 1, 2026, including the reappointment of President and Executive Officer Takashi Yoshida and the elevation of Minoru Kuboaki to Senior Managing Executive Officer and Chief Operating Officer, alongside continued oversight of the Battery & Automotive Division. Several other senior executives, such as Masahiro Kanai and Hirohisa Fukushima, will maintain or expand their roles in corporate administration and Chinese operations, while new executive officers Masatoshi Kawai and Hiromichi Matsuki will assume key divisional and corporate finance responsibilities, and veteran executive Naoto Atsumi will retire to become an advisor.
The company also indicated that it is considering nominating Minoru Kuboaki as a director and, subject to shareholder approval at the General Meeting in late June, appointing him as President and Executive Officer, signaling a planned leadership transition at the top of the organization. These moves suggest a deliberate succession process and a reinforcement of management resources in core business divisions and overseas operations, particularly in batteries, automotive, and China, with potential implications for Meiwa’s strategic direction and governance structure in the coming fiscal year.
The most recent analyst rating on (JP:8103) stock is a Buy with a Yen1114.00 price target. To see the full list of analyst forecasts on Meiwa Corporation stock, see the JP:8103 Stock Forecast page.
Meiwa Corporation announced that an independent auditor has completed the interim review of its consolidated financial statements for the nine months ended December 31, 2025, confirming there are no changes from the figures disclosed on January 30, 2026. The review was conducted in connection with a planned secondary offering of common shares approved by the board on February 19, 2026, underscoring Meiwa’s preparation for an equity transaction while its latest results show modest sales growth, improved operating income, and a solid financial position, albeit with lower net income year on year.
For the nine‑month period, Meiwa reported net sales of ¥121.8 billion, up 1.2% from a year earlier, and operating income of ¥3.26 billion, a 16% increase, while ordinary income declined 3.7% and net income attributable to owners fell 11%. Total assets rose to ¥87.2 billion and equity increased to ¥40.4 billion, but the equity ratio slipped from 51.5% to 46.4%, and the company maintained its interim dividend at zero with a full‑year dividend forecast of ¥38 per share for the year ending March 31, 2026.
The most recent analyst rating on (JP:8103) stock is a Buy with a Yen1114.00 price target. To see the full list of analyst forecasts on Meiwa Corporation stock, see the JP:8103 Stock Forecast page.
Meiwa Corporation’s board has approved a share repurchase program authorizing the buyback of up to 3.4 million common shares, equal to 8.43% of its outstanding stock excluding treasury shares. The repurchase, capped at 2.5 billion yen, will be executed via market purchases on the Tokyo Stock Exchange between a business day in mid-March 2026 and October 30, 2026, subject to market conditions.
All shares repurchased under this program are scheduled to be cancelled on November 30, 2026, effectively reducing Meiwa’s total share count. This move signals a shareholder-return and capital-efficiency focus, potentially enhancing earnings per share and equity value for remaining investors, while modestly altering the company’s capital structure over the medium term.
The most recent analyst rating on (JP:8103) stock is a Buy with a Yen1114.00 price target. To see the full list of analyst forecasts on Meiwa Corporation stock, see the JP:8103 Stock Forecast page.
Meiwa Corporation has approved a large secondary offering of up to 6.8 million existing common shares, with the sale to be executed via purchase and underwriting by a designated securities firm, and an additional over-allotment option of up to 1.02 million shares to stabilize market demand and pricing. The transaction, involving major shareholders such as Mitsubishi Corporation, The Master Trust Bank of Japan (trust account for Mitsubishi Chemical), and AGC Inc., will not raise new capital for Meiwa but will broaden its free float and is expected to result in Mitsubishi Corporation ceasing to be an affiliated company, potentially altering Meiwa’s governance dynamics and shareholder structure.
The offer price for both the main tranche and the over-allotment will be set in early March 2026 based on market conditions, using a discount to the prevailing Tokyo Stock Exchange closing price within a defined range. By increasing liquidity and reducing the influence of a single large corporate shareholder, the move may improve tradability of Meiwa shares and signal a shift toward a more diversified ownership base, with implications for minority investors and the company’s future strategic flexibility.
The most recent analyst rating on (JP:8103) stock is a Buy with a Yen1114.00 price target. To see the full list of analyst forecasts on Meiwa Corporation stock, see the JP:8103 Stock Forecast page.
Meiwa Corporation has revised its consolidated earnings forecast for the fiscal year ending March 31, 2026, raising its operating income outlook from ¥3.2 billion to ¥3.8 billion while keeping net sales, ordinary income and net income projections unchanged at ¥160 billion, ¥4.0 billion and ¥3.0 billion, respectively. The upgrade in operating income guidance reflects the positive impact of making Takaroku Corporation a consolidated subsidiary and strong performance in the Flame Retardants and Inorganic Chemicals businesses, though gains are being offset at the bottom line by weak results at an equity-method affiliate and temporary foreign exchange losses, limiting the effect on overall profit for shareholders.
The most recent analyst rating on (JP:8103) stock is a Buy with a Yen1125.00 price target. To see the full list of analyst forecasts on Meiwa Corporation stock, see the JP:8103 Stock Forecast page.
Meiwa Corporation reported a 1.2% year-on-year increase in net sales for the third quarter of the fiscal year ending March 31, 2026, driven by strong performance in Business Division 1 and the added contribution from newly acquired Takaroku Corporation in Business Division 3, which more than offset weak sales in Business Division 2. Despite higher operating income on the back of increased sales, overall profit declined 11.0% as equity-method affiliates moved into loss and certain transactions incurred foreign exchange losses, though the company left its full-year forecast, including a net income target of ¥3.0 billion and an annual dividend projection of ¥38 per share, unchanged, signaling management’s confidence in its earnings outlook and commitment to shareholder returns.
The most recent analyst rating on (JP:8103) stock is a Buy with a Yen1125.00 price target. To see the full list of analyst forecasts on Meiwa Corporation stock, see the JP:8103 Stock Forecast page.
Meiwa Corporation reported a slight 1.2% increase in net sales to ¥121.8 billion for the nine months ended December 31, 2025, but net income attributable to owners of the parent fell 11.0% to ¥2.18 billion as ordinary income declined, despite a 16.0% rise in operating income. Total assets expanded to ¥87.2 billion and equity increased to ¥40.4 billion, though the equity ratio weakened to 46.4% from 51.5%, and the company maintained a zero interim dividend while forecasting a reduced full-year dividend of ¥38 per share. For the full fiscal year ending March 31, 2026, Meiwa projects modest sales and operating profit growth but double-digit declines in ordinary profit and net income, implying margin pressure even as the company broadens its consolidation scope by adding three subsidiaries, a move that may support longer-term scale and overseas growth but weighs on near-term profitability metrics and shareholder returns.
The most recent analyst rating on (JP:8103) stock is a Buy with a Yen1125.00 price target. To see the full list of analyst forecasts on Meiwa Corporation stock, see the JP:8103 Stock Forecast page.