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Okasan Securities Group Inc.
(8609)
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Rating:67Neutral
Price Target:
¥1,204.00
▲(60.11% Upside)
Action:Downgraded
Date:07/31/26
The score is held back primarily by uneven financial quality—especially the multi-year history of negative operating/free cash flow and leverage variability—despite a clear 2026 rebound in earnings and cash generation. Offsetting that, technicals show a strong uptrend (price above all major moving averages) and valuation is appealing with a low P/E and ~3.87% dividend yield.
Positive Factors
Diversified securities revenue model
Okasan operates a multi-product securities platform (retail and institutional brokerage, underwriting, product distribution and advisory). This diversification spreads revenue across trading commissions, underwriting fees and distribution margins, reducing reliance on any single market segment over business cycles.
Negative Factors
Multi-year cash generation weakness
A multi-year pattern of negative operating cash flow prior to 2026 signals structural cash conversion weaknesses and potential reliance on non-operating or financing flows. This undermines sustainable reinvestment, dividend reliability and makes the firm more sensitive to funding stress during downturns.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified securities revenue model
Okasan operates a multi-product securities platform (retail and institutional brokerage, underwriting, product distribution and advisory). This diversification spreads revenue across trading commissions, underwriting fees and distribution margins, reducing reliance on any single market segment over business cycles.
Read all positive factors
Okasan Securities Group Inc. (8609) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥246.41B
Dividend Yield3.59%
Average Volume (3M)312.57K
Price to Earnings (P/E)8.1
Beta (1Y)1.15
Revenue Growth38.46%
EPS Growth176.98%
CountryJP
Employees3,472
SectorFinancial
Sector Strength70
IndustryFinancial - Capital Markets
Share Statistics
EPS (TTM)138.13
Shares Outstanding231,217,070
10 Day Avg. Volume261,570
30 Day Avg. Volume312,566
Financial Highlights & Ratios
PEG Ratio0.09
Price to Book (P/B)0.71
Price to Sales (P/S)1.61
P/FCF Ratio4.01
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Okasan Securities Group Inc. Business Overview & Revenue Model
Company Description
Okasan Securities Group Inc., together with its subsidiaries, engages in securities business in Japan. The company offers asset management; online trading with consulting services; corporate services, support IPOs, propose M and A and business mat...
How the Company Makes Money
Okasan Securities Group makes money primarily through securities-related fees and trading income generated by its brokerage and financial product distribution businesses. Key revenue streams typically include: (1) Brokerage commissions and related...
Okasan Securities Group Inc. Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
58
Neutral
Cash Flow
45
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 111.49B | 101.97B | 79.87B | 82.52B | 64.89B | 72.56B |
| Gross Profit | 105.64B | 91.37B | 79.87B | 82.52B | 64.89B | 72.56B |
| EBITDA | 39.03B | 31.28B | 22.15B | 23.38B | 7.41B | 19.52B |
| Net Income | 27.64B | 21.36B | 11.65B | 13.17B | 529.00M | 10.07B |
Balance Sheet | ||||||
| Total Assets | 1.57T | 1.40T | 1.38T | 1.21T | 876.06B | 816.57B |
| Cash, Cash Equivalents and Short-Term Investments | 681.67B | 604.27B | 51.50B | 514.07B | 91.71B | 90.06B |
| Total Debt | 146.54B | 136.33B | 685.80B | 166.09B | 177.05B | 165.12B |
| Total Liabilities | 1.33T | 1.17T | 1.17T | 993.63B | 690.42B | 626.71B |
| Stockholders Equity | 235.03B | 230.97B | 208.23B | 199.16B | 173.44B | 168.33B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 41.00B | -24.21B | -6.48B | -8.85B | -5.74B |
| Operating Cash Flow | 0.00 | 43.33B | -20.69B | -4.76B | -1.36B | -4.20B |
| Investing Cash Flow | 0.00 | 43.39B | 6.18B | 2.39B | 1.67B | 7.04B |
| Financing Cash Flow | 0.00 | -35.01B | -18.50B | -4.41B | 16.58B | 13.26B |
Okasan Securities Group Inc. Technical Analysis
Positive
752.00
Price Trends
1015.74
Positive
954.27
Positive
855.16
Positive
Market Momentum
29.65
Positive
60.49
Neutral
51.78
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:8609, the sentiment is Positive. The current price of 752 is below the 20-day moving average (MA) of 1084.60, below the 50-day MA of 1015.74, and below the 200-day MA of 855.16, indicating a bullish trend. The MACD of 29.65 indicates Positive momentum. The RSI at 60.49 is Neutral, neither overbought nor oversold. The STOCH value of 51.78 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:8609.
Okasan Securities Group Inc. Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | ¥104.06B | 8.93 | ― | 5.75% | 38.76% | 64.54% | |
70 Outperform | ¥2.44T | 12.46 | 10.35% | 3.49% | 15.89% | 26.06% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
67 Neutral | ¥246.41B | 8.07 | ― | 4.01% | 38.46% | 176.98% | |
66 Neutral | ¥284.05B | 15.63 | 19.66% | 5.13% | 43.71% | 73.74% | |
64 Neutral | ¥4.52T | 0.32 | 404.11% | 3.19% | 6.38% | 8.32% | |
55 Neutral | ¥173.33B | 15.84 | 8.98% | 4.18% | 16.13% | ― |
* Financial Sector Average
JP:8609
Okasan Securities Group Inc.
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Okasan Securities Group Inc. Corporate Events
Okasan Securities Books Profit Surge but Keeps Dividend Outlook Cautious
Jul 30, 2026
Okasan Securities Group reported a sharp rebound in earnings for the three months ended June 30, 2026, as net operating revenue surged 66.6% year on year to ¥30.43 billion and ordinary profit jumped to ¥11.53 billion. Profit attributable...
Okasan Securities Group Expands Restricted Stock Compensation Across Organization
Jul 22, 2026
Okasan Securities Group Inc., a Japanese financial services and securities group listed on major domestic exchanges, has completed payment procedures for disposing treasury shares used in restricted stock compensation schemes. The company is deplo...
Okasan Securities Group to Grant Restricted Treasury Shares to Subsidiary Employees
Jun 26, 2026
Okasan Securities Group has approved the disposal of 104,600 treasury shares, valued at ¥955 per share for a total of about ¥99.9 million, to provide restricted stock compensation to 250 employees at its subsidiaries. The move is part of...
Okasan Securities Group to Grant Restricted Stock from Treasury Shares to Executives
Jun 26, 2026
Okasan Securities Group Inc. will dispose of 502,300 treasury shares to implement a restricted stock compensation plan for directors and executive officers of the parent company and selected subsidiaries. The shares, priced at 955 yen each for a t...
Okasan Securities Group to Embed New Corporate Philosophy in Articles of Incorporation
May 18, 2026
Okasan Securities Group Inc. has established a formal corporate philosophy and plans to embed it into its Articles of Incorporation, underscoring a long-standing commitment to customers, employees, shareholders, and regional communities. The philo...
Okasan Securities Announces Higher Year-End Dividend and Ongoing Special Payouts
May 18, 2026
Okasan Securities Group Inc. has approved a year-end dividend of 50 yen per share for the fiscal year ended March 31, 2026, consisting of an ordinary dividend of 40 yen and a special dividend of 10 yen, with total payouts reaching 10,003 million y...
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.