Ichiyoshi Securities Co (8624) AI Stock Analysis

• Market Cap: ¥35.78B
• Dividend Yield: 4.42%
• Average Volume (3M): 110.12K
• Price to Earnings (P/E): 20.1
• Beta (1Y): 1.05
• Revenue Growth: 1.56%
• EPS Growth: -9.90%
• Country: JP
• Employees: 957
• Sector: Financial
• Sector Strength: 70
• Industry: Asset Management
• EPS (TTM): 33.25
• Shares Outstanding: 37,931,385
• 10 Day Avg. Volume: 77,060
• 30 Day Avg. Volume: 110,120
• PEG Ratio: -0.92
• Price to Book (P/B): 0.91
• Price to Sales (P/S): 1.33
• P/FCF Ratio: -43.69
• 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: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 78 Outperform
• Price Target: ¥1,310.00 ▲(18.12% Upside)

Ichiyoshi Securities Co. receives a strong overall score driven by robust technical analysis and a solid valuation profile. While financial performance shows areas for improvement, particularly in cash flow management, the company's low leverage and high dividend yield provide a stable foundation. The stock's bullish momentum further supports its attractiveness.

Positive Factors

Balance Sheet Strength

Very low leverage and a high equity ratio materially reduce insolvency risk and give management durable financial flexibility. This supports underwriting, trading capital needs and dividend capacity, and provides a buffer to absorb market stress without forced deleveraging.

Very High Gross Margins

Exceptionally high gross margins reflect a structurally profitable fee and spread business model. High fixed-cost leverage means earnings can remain resilient in revenue downticks, enabling reinvestment in distribution and products and supporting long-term profitability sustainability.

Operational Margin Resilience

Sustained EBIT/EBITDA margin strength indicates operational efficiency across trading and brokerage activities. This creates stable operating earnings that help fund dividends and strategic initiatives, making cash generation less sensitive to short-term revenue swings.

Negative Factors

Cash Flow Volatility

A recent shift to negative operating and free cash flow weakens liquidity and may force reliance on balance sheet reserves or external funding. Persistent volatility can constrain capital allocation, reduce ability to sustain dividends or invest in growth initiatives over the medium term.

Flat Revenue Trend

Near-zero revenue growth signals limited top-line momentum and possible market-share stagnation. Over months this constrains operational gearing and long-term EPS growth unless new products, channels, or client segments are developed to diversify and lift revenues.

Declining Profitability Metrics

Worsening net margin and falling ROE point to declining return efficiency on equity. If persistent, this erodes shareholder returns, pressures dividend sustainability and reduces capital available for reinvestment, making long-term competitiveness and growth investments harder.

Ichiyoshi Securities Co Business Overview & Revenue Model

Company Description

Ichiyoshi Securities Co., Ltd. operates in the securities industry in Japan. The company conducts research and gathers information on stocks of small- and medium-sized growth companies. It also provides discretionary investment and advisory services for institutional investors and trusts. In addition, the company is involved in the real estate renting, broking, and management services; sale of office supplies and goods; and insurance agency activities. Ichiyoshi Securities Co., Ltd. was founded in 1944 and is headquartered in Tokyo, Japan.

How the Company Makes Money

Ichiyoshi Securities generates revenue through multiple streams, primarily from brokerage fees on the trading of securities, which includes commissions from buying and selling stocks and other financial instruments. Additionally, the firm earns income from asset management services, including fees for managing investment funds and portfolios for clients. The company may also generate revenue from advisory services provided to institutional clients, such as market analysis and strategic investment recommendations. Significant partnerships with financial institutions and technology providers enhance its service offerings and operational efficiency, contributing to its overall earnings.

Ichiyoshi Securities Co Financial Statement Overview

Summary

Ichiyoshi Securities Co. demonstrates strong gross profit margins and a stable balance sheet with low leverage. However, challenges include flat revenue growth, declining net profit margins, and cash flow volatility, indicating areas for improvement in profitability and liquidity management.

Income Statement

Ichiyoshi Securities Co. showed strong gross profit margins consistently above 95%, indicating effective cost management. However, revenue has been relatively flat with a slight downward trend, experiencing negative growth of -0.13% in the latest year. The net profit margin decreased from 10.24% to 8.31%, showing a decline in profitability. Despite this, the company maintains healthy EBIT and EBITDA margins, enhancing operational efficiency.

Balance Sheet

The company maintains a strong balance sheet with a low debt-to-equity ratio of 0.08, reflecting minimal financial leverage and reduced risk of insolvency. The equity ratio is robust at 65.54%, indicating a solid capital structure. Return on Equity decreased from 6.65% to 5.70%, suggesting reduced profitability for shareholders, but overall, the balance sheet remains stable and resilient.

Cash Flow

Cash flows exhibit volatility, with operating cash flow turning negative in the latest year. The free cash flow to net income ratio turned negative due to negative free cash flow, highlighting potential liquidity concerns. Historically, the company generated strong free cash flow, but recent trends indicate a need for improved cash management strategies.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	18.41B	18.81B	18.84B	16.66B	19.59B	19.74B
Gross Profit	18.18B	18.30B	18.80B	16.62B	19.55B	18.20B
EBITDA	2.24B	2.76B	3.32B	1.65B	3.87B	1.79B
Net Income	1.20B	1.56B	1.93B	758.00M	2.53B	1.00B
Balance Sheet
Total Assets	45.62B	41.90B	46.65B	42.67B	47.94B	49.21B
Cash, Cash Equivalents and Short-Term Investments	22.21B	17.99B	21.87B	16.19B	17.74B	17.31B
Total Debt	3.64B	2.28B	361.00M	628.00M	592.00M	491.00M
Total Liabilities	18.45B	14.44B	17.64B	14.85B	17.87B	20.10B
Stockholders Equity	27.17B	27.46B	29.01B	27.82B	30.06B	29.11B
Cash Flow
Free Cash Flow	0.00	-573.00M	3.40B	1.32B	1.65B	4.42B
Operating Cash Flow	0.00	-524.00M	3.79B	1.61B	2.09B	4.86B
Investing Cash Flow	0.00	-296.00M	-524.00M	-320.00M	-169.00M	-44.00M
Financing Cash Flow	0.00	-3.04B	-1.14B	-2.82B	-1.38B	-1.12B

Ichiyoshi Securities Co Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1109.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:8624, the sentiment is Positive. The current price of 1109 is above the 20-day moving average (MA) of 1083.70, above the 50-day MA of 1007.08, and above the 200-day MA of 829.72, indicating a bullish trend. The MACD of 33.95 indicates Negative momentum. The RSI at 71.24 is Negative, neither overbought nor oversold. The STOCH value of 77.73 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:8624.

Ichiyoshi Securities Co Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
8624	78 Outperform	¥35.78B	20.09	6.18%	4.42%	1.56%	-9.90%
8739	74 Outperform	¥54.88B	11.87	17.21%	4.27%	7.60%	7.20%
8616	72 Outperform	¥184.53B	14.94	6.79%	5.60%	3.10%	17.73%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
7347	62 Neutral	¥15.92B	232.33	―	2.52%	1.35%	-91.61%
8595	60 Neutral	¥129.84B	19.74	5.11%	5.07%	-19.64%	-31.08%
8518	46 Neutral	¥5.00B	18.01	4.15%	―	-6.60%	―

Ichiyoshi Securities Co Corporate Events

Ichiyoshi Securities Announces Increased Semi-Annual Dividend

Ichiyoshi Securities Co., Ltd. announced an increase in its semi-annual regular dividend from 18 yen to 20 yen per share for the fiscal year ending March 31, 2026, following an upward revision of its business results. This decision reflects the company’s commitment to maintaining a dividend policy that offers a payout ratio of approximately 50% of consolidated earnings per share or 2% of consolidated shareholders’ equity per share, calculated semi-annually.

The most recent analyst rating on (JP:8624) stock is a Buy with a Yen959.00 price target. To see the full list of analyst forecasts on Ichiyoshi Securities Co stock, see the JP:8624 Stock Forecast page.

Ichiyoshi Securities Reports Strong Financial Growth and Announces Commemorative Dividend

Ichiyoshi Securities Co., Ltd. reported a significant increase in its comprehensive income for the first half of fiscal 2025, with a 23.0% rise compared to the previous year. The company announced a commemorative dividend in celebration of its 75th anniversary, reflecting its strong financial performance and commitment to rewarding shareholders.

The most recent analyst rating on (JP:8624) stock is a Buy with a Yen959.00 price target. To see the full list of analyst forecasts on Ichiyoshi Securities Co stock, see the JP:8624 Stock Forecast page.

Ichiyoshi Securities Reports Strong Earnings Growth for First Half of Fiscal 2025

Ichiyoshi Securities Co., Ltd. reported a significant increase in its preliminary consolidated earnings for the first half of fiscal 2025, with operating revenue rising by 9% and net income attributable to owners up by 23.5% compared to the same period in the previous year. This growth is attributed to the steady progress of its ‘Stock-Type Business Model,’ which led to increased operating revenue from stable-income sources such as beneficiary certificates and commissions.

The most recent analyst rating on (JP:8624) stock is a Hold with a Yen851.00 price target. To see the full list of analyst forecasts on Ichiyoshi Securities Co stock, see the JP:8624 Stock Forecast page.