Marusan Securities Co., Ltd. (8613) AI Stock Analysis

• Market Cap: €61.26B
• Dividend Yield: 3.27%
• Average Volume (3M): 140.70K
• Price to Earnings (P/E): 16.1
• Beta (1Y): 0.81
• Revenue Growth: 8.25%
• EPS Growth: 28.77%
• Country: JP
• Employees: 1,112
• Sector: Financial
• Sector Strength: 73
• Industry: Financial - Capital Markets
• EPS (TTM): 23.55
• Shares Outstanding: 67,398,260
• 10 Day Avg. Volume: 166,270
• 30 Day Avg. Volume: 140,700
• PEG Ratio: 1.35
• Price to Book (P/B): 1.22
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• 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: €954.68
• Price Target Upside: 4.00% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 0

• Rating: 72 Outperform
• Price Target: ¥1,006.00 ▲(9.59%Upside)

Marusan Securities Co., Ltd. demonstrates a strong financial foundation with solid revenue and profitability metrics, which are slightly offset by challenges in cash flow management. Technical indicators suggest positive momentum, supporting the stock's potential upside. Valuation metrics are fair, aligning with industry benchmarks.

Marusan Securities Co., Ltd. Business Overview & Revenue Model

Company Description

Marusan Securities Co., Ltd. (8613) is a Japan-based financial services company that operates in the securities industry. The company offers a range of services including brokerage, underwriting, and distribution of financial products. With a focus on providing comprehensive investment solutions, Marusan Securities caters to individual and institutional clients, assisting them in navigating the complexities of financial markets.

How the Company Makes Money

Marusan Securities Co., Ltd. generates revenue primarily through brokerage commissions, which are fees charged for facilitating the buying and selling of securities on behalf of clients. Additionally, the company earns income from underwriting services, where it assists companies in issuing new securities and helps distribute them to investors. Another key revenue stream is through advisory services, where Marusan provides investment advice and asset management services for a fee. The company may also earn income from trading activities, where it engages in the buying and selling of securities for its own account to capitalize on market opportunities. Partnerships with other financial institutions and strategic alliances can also contribute to its earnings by expanding its service offerings and client base.

Marusan Securities Co., Ltd. Financial Statement Overview

Summary

Marusan Securities Co., Ltd. shows a strong financial profile with consistent revenue growth and profitability, supported by a solid balance sheet with low leverage. However, challenges in cash flow management, particularly in maintaining positive free cash flow, suggest a need for improvement in cash generation to sustain long-term growth.

Income Statement

The company has shown consistent revenue growth, with a notable increase in revenue from 2024 to 2025. The gross profit margin remains strong, and the net profit margin has improved, reflecting effective cost management. However, there was a decline in revenue from 2021 to 2023, indicating some volatility. The EBIT and EBITDA margins are healthy, supporting profitability.

Balance Sheet

The balance sheet is robust with a high equity ratio, indicating financial stability. The debt-to-equity ratio is low, showcasing a conservative leverage strategy. However, the total assets have fluctuated, with a decrease from 2024 to 2025. The return on equity has improved, reflecting efficient use of equity to generate profits.

Cash Flow

Cash flow performance is mixed, with negative free cash flow in the latest period due to high capital expenditures and negative operating cash flow. The free cash flow growth rate is negative, indicating challenges in generating cash surplus. However, the company has had periods of strong operating cash flow, providing some positive outlook.

Breakdown	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	20.15B	18.61B	14.93B	18.67B	19.18B
Gross Profit	19.61B	18.55B	14.87B	18.60B	19.07B
EBITDA	5.32B	4.15B	1.12B	4.08B	5.99B
Net Income	3.79B	2.92B	778.00M	2.83B	4.16B
Balance Sheet
Total Assets	73.36B	84.08B	67.60B	90.89B	99.39B
Cash, Cash Equivalents and Short-Term Investments	31.50B	39.99B	33.97B	29.68B	32.96B
Total Debt	2.02B	3.14B	3.01B	4.16B	3.83B
Total Liabilities	24.35B	31.55B	21.52B	43.75B	52.99B
Stockholders Equity	49.01B	52.52B	46.09B	47.13B	46.40B
Cash Flow
Free Cash Flow	-1.10B	6.99B	10.64B	-1.14B	-3.23B
Operating Cash Flow	-160.00M	7.56B	10.99B	-371.00M	-2.74B
Investing Cash Flow	509.00M	-734.00M	-4.60B	-911.00M	1.57B
Financing Cash Flow	-5.05B	-1.89B	-1.56B	-2.05B	-1.43B

Marusan Securities Co., Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 918.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:8613, the sentiment is Positive. The current price of 918 is above the 20-day moving average (MA) of 897.65, above the 50-day MA of 882.16, and below the 200-day MA of 918.32, indicating a bullish trend. The MACD of 6.02 indicates Negative momentum. The RSI at 65.08 is Neutral, neither overbought nor oversold. The STOCH value of 46.57 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:8613.

Marusan Securities Co., Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
8699	82 Outperform	¥43.53B	2.73		0.91%	-23.80%	29.20%
8707	78 Outperform	¥56.70B	8.00		5.95%	5.08%	17.07%
8613	72 Outperform	€61.26B	16.05	7.44%	3.27%	8.25%	28.77%
8614	71 Outperform	¥35.93B	14.86		3.87%	9.79%	―
8622	69 Neutral	€32.08B	17.85	5.79%	5.56%	-8.54%	-20.01%
8708	69 Neutral	¥41.51B	16.68		3.59%	-2.54%	-5.46%
Sector *	68 Neutral	¥760.77B	11.01	7.55%	3.20%	7.82%	14.69%

Marusan Securities Co., Ltd. Corporate Events

Marusan Securities Reports Decline in Q1 Financial Performance

Marusan Securities Co., Ltd. reported a significant decline in its financial performance for the first quarter of fiscal year 2025, with operating revenue and profit figures showing a notable decrease compared to the same period in the previous year. This downturn may impact the company’s market positioning and stakeholder confidence, as the results indicate challenges in maintaining growth and profitability in the current market environment.

Marusan Securities Restructures Special Committee for Enhanced Governance

Marusan Securities Co., Ltd. announced changes to its Special Committee under its Takeover Defense Measures policy. The board has appointed new members, all of whom are outside directors, to replace the outgoing members. This restructuring aims to enhance the company’s governance by ensuring the committee is composed entirely of independent directors, which could strengthen its defense against potential large-scale acquisitions.

Marusan Securities Proposes Digitalization of Meeting Minutes

Marusan Securities Co., Ltd. announced a proposal to amend its Articles of Incorporation, which will be submitted at the upcoming Annual General Meeting of Shareholders. The amendment aims to allow the creation and storage of meeting minutes in electronic format, reflecting a shift towards digitalization in the company’s operations.

Marusan Securities Maintains Dividend Plan for FY 2025

Marusan Securities Co., Ltd. announced its final dividend proposal for the fiscal year ending March 31, 2025, maintaining the planned dividend amounts. The company emphasizes a stable return of profits to shareholders and has a policy of paying dividends that exceed 50% of consolidated earnings per share. The decision to pay special dividends alongside ordinary dividends reflects the company’s strengthened earnings base and reduced need for cash reserves, aiming to optimize internal reserves and improve capital efficiency.

Marusan Securities Reports Dynamic Fiscal Year 2025 Financial Results

Marusan Securities Co., Ltd. reported its consolidated financial results for the fiscal year ending March 31, 2025, showing significant changes in operating and ordinary profits. The company experienced fluctuations in its financial position, with notable changes in cash flows and dividends, indicating a dynamic year with potential implications for stakeholders.