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Matsuya Co., Ltd. (JP:8237)
:8237
Japanese Market

Matsuya Co., Ltd. (8237) AI Stock Analysis

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JP:8237

Matsuya Co., Ltd.

(8237)

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Neutral 54 (OpenAI - 5.2)
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Neutral 54 (OpenAI - 5.2)
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Neutral 54 (OpenAI - 5.2)
,
Neutral 54 (OpenAI - 5.2)
,
Neutral 54 (OpenAI - 5.2)
Rating:54Neutral
Price Target:
¥2,044.00
▲(10.73% Upside)
Action:ReiteratedDate:03/13/26
Financial performance is improving (revenue and operating margin recovery, stable balance sheet), but the overall score is pulled down by weak technicals (bearish trend signals) and a less attractive valuation (high P/E, low dividend yield). Cash flow remains a notable constraint due to negative free cash flow.
Positive Factors
Margin Recovery
Improved gross, EBIT and EBITDA margins reflect better merchandising and cost control. Sustained margin recovery supports durable operating earnings, enhances resilience to retail cycles, and creates a structural buffer for reinvestment or tenant support over the coming months.
Balance-Sheet Stability
A healthy equity ratio and moderate debt-to-equity provide financial flexibility to manage lease exposures and tenant relationships. Manageable leverage reduces refinancing risk, enabling strategic capital allocation and resilience to temporary retail demand swings.
Improving Operating Cash Flow
Rising operating cash flow indicates stronger core retail cash generation and improved working-capital management. This durable improvement helps fund day-to-day operations, supports lease and tenant investments, and reduces reliance on external financing in the medium term.
Negative Factors
Negative Free Cash Flow
Persistent negative free cash flow driven by capex and investment outlays pressures liquidity and limits flexibility for dividends or buybacks. Over 2–6 months, continued FCF deficits could force borrowing, curtail expansion, or delay store/space investments.
Net Margin Pressure
A falling net margin erodes the conversion of revenue into shareholder returns and suggests remaining cost or pricing headwinds. Structurally weaker net profitability reduces retained earnings and constrains ability to absorb shocks or fund long-term initiatives.
Earnings Volatility
A steep EPS decline signals earnings volatility or one-off impacts that materially reduce profitability. Persistently weak EPS growth undermines retained capital for reinvestment, can limit strategic initiatives, and raises execution risk over the medium term.

Matsuya Co., Ltd. (8237) vs. iShares MSCI Japan ETF (EWJ)

Matsuya Co., Ltd. Business Overview & Revenue Model

Company DescriptionMatsuya Co., Ltd. operates department stores in Ginza and Asakusa, Japan. Its department stores provide women's fashion products, cosmetics, fragrances, and watch and jewelry; men's fashion and sports products; children's wear and goods; and household goods. It also engages in mail order and related manufacturing, import/export, and wholesale businesses. Matsuya Co., Ltd. was founded in 1869 and is based in Tokyo, Japan.
How the Company Makes MoneyThe company primarily makes money through (1) sales generated from retail operations (both directly operated merchandise and sales-related income tied to store activity) and (2) revenue from tenant and space utilization within its department store (e.g., leasing/tenant arrangements and associated fees). Additional earnings can come from service-related and other ancillary income connected to department store operations (e.g., event/space usage and related services). Specific breakdowns by segment, major counterparties/partnerships, or the contribution of any non-core businesses are null.

Matsuya Co., Ltd. Financial Statement Overview

Summary
Solid recovery in revenue and improved gross/EBIT/EBITDA margins, but net margin pressure persists. Balance sheet is stable with moderate leverage, while negative free cash flow and capex-driven outflows remain a key risk despite improved operating cash flow.
Income Statement
72
Positive
Matsuya Co., Ltd. has demonstrated a strong recovery in its income statement with significant revenue growth from prior years. The gross profit margin has improved to a healthy level, indicating effective cost management. However, the net profit margin has decreased slightly compared to the previous year, suggesting some pressure on the bottom line. The improvement in EBIT and EBITDA margins reflects operational efficiency gains. Overall, the income statement shows positive growth trends, but net income pressure remains a concern.
Balance Sheet
68
Positive
The balance sheet of Matsuya Co., Ltd. reflects a stable financial position with a healthy equity ratio, showing reliance on equity financing. The debt-to-equity ratio is moderate, indicating manageable leverage levels. However, the return on equity has declined, reflecting a reduction in profitability. Overall, the balance sheet shows stability but highlights areas for enhancing shareholder returns.
Cash Flow
65
Positive
Cash flow analysis reveals a challenging picture with negative free cash flow, indicating cash outflows exceeding inflows in capital investments. However, the operating cash flow has improved, showing better cash management from core operations. The free cash flow to net income ratio remains negative, highlighting cash flow challenges. Overall, the cash flow statement shows recovery in operational cash generation, but investment outflows continue to pressure free cash flow.
BreakdownTTMFeb 2025Feb 2024Feb 2023Feb 2022Feb 2021
Income Statement
Total Revenue46.48B48.12B41.25B34.40B65.04B52.73B
Gross Profit25.19B24.57B21.72B17.18B13.25B11.36B
EBITDA3.27B5.48B4.48B1.73B3.05B-2.37B
Net Income408.00M2.38B2.63B4.38B1.00B-4.42B
Balance Sheet
Total Assets76.11B76.11B68.87B63.89B54.26B56.45B
Cash, Cash Equivalents and Short-Term Investments5.07B3.91B3.25B6.31B2.44B2.96B
Total Debt21.64B21.82B18.12B19.18B20.13B24.78B
Total Liabilities47.03B46.90B42.05B41.04B36.25B40.20B
Stockholders Equity28.27B28.26B25.95B22.06B17.25B16.24B
Cash Flow
Free Cash Flow0.00-1.19B-366.00M-1.69B-1.98B-4.09B
Operating Cash Flow0.003.07B2.30B2.35B-1.25B-2.76B
Investing Cash Flow0.00-5.53B-4.02B2.47B5.38B891.00M
Financing Cash Flow0.003.13B-1.34B-955.00M-4.71B2.67B

Matsuya Co., Ltd. Technical Analysis

Technical Analysis Sentiment
Neutral
Last Price1846.00
Price Trends
50DMA
2101.91
Negative
100DMA
1952.93
Negative
200DMA
1601.19
Positive
Market Momentum
MACD
-102.30
Positive
RSI
40.83
Neutral
STOCH
55.02
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:8237, the sentiment is Neutral. The current price of 1846 is below the 20-day moving average (MA) of 2189.46, below the 50-day MA of 2101.91, and above the 200-day MA of 1601.19, indicating a neutral trend. The MACD of -102.30 indicates Positive momentum. The RSI at 40.83 is Neutral, neither overbought nor oversold. The STOCH value of 55.02 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for JP:8237.

Matsuya Co., Ltd. Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
79
Outperform
¥193.59B7.252.18%6.30%27.88%
63
Neutral
¥216.74B17.323.01%18.89%-34.43%
61
Neutral
$18.38B12.79-2.54%3.03%1.52%-15.83%
61
Neutral
¥174.15B100.031.44%1.48%-33.32%
54
Neutral
¥101.98B32.320.83%1.38%-87.76%
53
Neutral
¥51.78B-5.760.94%10.66%-218.40%
53
Neutral
¥178.09B-65.241.77%30.67%
* Consumer Cyclical Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
JP:8237
Matsuya Co., Ltd.
1,922.00
897.21
87.55%
JP:3222
United Super Markets Holdings, Inc.
859.00
36.51
4.44%
JP:8273
Izumi Co., Ltd.
1,009.00
-7.78
-0.76%
JP:8278
Fuji Co., Ltd.
2,009.00
-160.01
-7.38%
JP:9946
Ministop Co., Ltd.
1,785.00
-18.19
-1.01%
JP:9956
Valor Holdings Co., Ltd.
3,605.00
1,267.44
54.22%

Matsuya Co., Ltd. Corporate Events

Matsuya Posts Mixed February Sales as Ginza Gains Offset Asakusa Weakness
Mar 11, 2026

Matsuya Co., Ltd. reported its monthly sales figures for February 2026, highlighting contrasting performances between its Ginza and Asakusa department stores. Overall Matsuya sales rose 2.7% year on year, supported by a 3.1% increase at the Ginza Store, while the Asakusa Store posted a 4.7% decline, indicating uneven recovery in customer traffic across locations.

The breakdown by merchandise category showed sharp declines in several apparel and general goods segments, with clothing-related categories and household goods under particular pressure, while some areas such as foods and services were relatively more resilient. These mixed results suggest that Matsuya faces ongoing challenges in revitalizing non-food retail spending and stabilizing traffic, especially at its Asakusa location, even as headline sales growth at Ginza provides some support to overall performance.

The most recent analyst rating on (JP:8237) stock is a Hold with a Yen2028.00 price target. To see the full list of analyst forecasts on Matsuya Co., Ltd. stock, see the JP:8237 Stock Forecast page.

Matsuya Releases February 2026 Monthly Sales Report Under Conventional Disclosure Standard
Mar 2, 2026

Matsuya Co., Ltd., a Japanese department store operator known for its Ginza and Asakusa locations, continues to focus on brick‑and‑mortar retail in major Tokyo shopping districts. The company discloses store‑by‑store performance to give stakeholders visibility into trends at its key properties.

In its monthly sales report for February 2026, Matsuya reported year‑on‑year sales changes for the Ginza and Asakusa stores under the traditional department store disclosure method. While the company has applied the new revenue recognition standard since fiscal 2021, it explicitly maintains the conventional basis for department store sales figures, underscoring a priority on consistency and comparability in operational reporting.

The most recent analyst rating on (JP:8237) stock is a Hold with a Yen2740.00 price target. To see the full list of analyst forecasts on Matsuya Co., Ltd. stock, see the JP:8237 Stock Forecast page.

Matsuya Announces Director Resignation and Broad Management Reshuffle
Feb 16, 2026

Matsuya Co., Ltd. has announced a series of top-level organizational changes following a Board of Directors meeting held on February 16, 2026. The moves include the resignation of one director, adjustments to the roles and assignments of other directors, and personnel transfers at the general manager level.

These leadership and personnel shifts suggest Matsuya is recalibrating its management structure, which may influence its operational direction and governance approach. While detailed role changes were disclosed only in the original Japanese document, the scope of the reshuffle indicates a potentially significant impact on internal oversight and strategic execution for key stakeholders.

The most recent analyst rating on (JP:8237) stock is a Hold with a Yen2647.00 price target. To see the full list of analyst forecasts on Matsuya Co., Ltd. stock, see the JP:8237 Stock Forecast page.

Matsuya Reveals Continued Sales Weakness in January 2026 Department Store Results
Feb 9, 2026

Matsuya Co., Ltd. reported monthly sales data for its department store business for January 2026, detailing year-on-year performance by store, category, and overall operations. The disclosure highlights sales and customer traffic trends at the Ginza and Asakusa stores, with figures indicating notable declines in several merchandise categories and overall totals in recent months.

The data show particular weakness in clothing-related segments and services, as well as double-digit declines in overall sales and customer traffic at the chain level, suggesting continued pressure on the company’s brick-and-mortar operations. Divergent trends between the Ginza and Asakusa locations underscore differing local demand dynamics, and the broad-based softness implies ongoing challenges for Matsuya within Japan’s department store sector.

The most recent analyst rating on (JP:8237) stock is a Hold with a Yen2126.00 price target. To see the full list of analyst forecasts on Matsuya Co., Ltd. stock, see the JP:8237 Stock Forecast page.

Matsuya Reports Double-Digit January Sales Decline at Ginza and Asakusa Stores
Feb 2, 2026

Matsuya Co., Ltd. reported its monthly sales figures for January 2026, showing year-on-year declines at both its Ginza and Asakusa department stores, with overall sales falling in the mid-teens percentage range. The company noted that while it has applied the new revenue recognition standard since FY2021, store-level sales for the department store business continue to be disclosed on the conventional basis, allowing stakeholders to compare current performance with historical data despite the accounting change.

The most recent analyst rating on (JP:8237) stock is a Hold with a Yen2126.00 price target. To see the full list of analyst forecasts on Matsuya Co., Ltd. stock, see the JP:8237 Stock Forecast page.

Matsuya Department Store Sales Decline Broadly in December 2025
Jan 8, 2026

Matsuya Co., Ltd. reported December 2025 monthly sales for its department store business, showing an overall year-on-year decline across key indicators such as total sales and customer traffic, with particularly weak performance at the Ginza and Asakusa stores. By merchandise category, most segments including clothing, accessories, general goods, household goods, and foods posted negative year-on-year results, indicating broad-based softness in in-store demand and signaling continued pressure on the company’s core brick-and-mortar retail operations heading into 2026.

The most recent analyst rating on (JP:8237) stock is a Hold with a Yen2117.00 price target. To see the full list of analyst forecasts on Matsuya Co., Ltd. stock, see the JP:8237 Stock Forecast page.

Matsuya Earnings Plunge as Profit Falls 71% but Dividend Policy Held
Jan 8, 2026

Matsuya Co., Ltd. reported a sharp deterioration in earnings for the nine months ended November 30, 2025, with net sales down 6.3% year on year to ¥33.8 billion and operating income nearly halved, while profit attributable to owners of parent fell 71.2% to ¥596 million, reflecting a significant squeeze on profitability. The company’s equity ratio declined from 37.1% to 32.4% and net assets per share also weakened, signaling some deterioration in its financial position, even as it maintains its full-year forecast calling for continued declines in sales and profit. Despite the earnings slump, Matsuya kept its dividend stance unchanged in aggregate, paying a higher interim dividend and forecasting a full-year payout of ¥12 per share, suggesting a continued emphasis on shareholder returns amid a tougher operating environment for department store retail in Japan.

The most recent analyst rating on (JP:8237) stock is a Hold with a Yen2117.00 price target. To see the full list of analyst forecasts on Matsuya Co., Ltd. stock, see the JP:8237 Stock Forecast page.

Matsuya Reports Double-Digit December Sales Decline at Ginza and Asakusa Stores
Jan 5, 2026

Matsuya Co., Ltd., a Japanese department store operator with key locations in Ginza and Asakusa, reported its monthly sales performance for December 2025. The company disclosed that, under its conventional standard for department store sales, overall sales at the Ginza and Asakusa stores declined year on year, with total company sales, Ginza store sales, and Asakusa store sales falling by 10.1%, 20.1%, and 10.8%, respectively. These figures indicate continued pressure on Matsuya’s brick-and-mortar performance and suggest a challenging operating environment for the company within Japan’s department store industry.

The most recent analyst rating on (JP:8237) stock is a Hold with a Yen2117.00 price target. To see the full list of analyst forecasts on Matsuya Co., Ltd. stock, see the JP:8237 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: Mar 13, 2026