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Sun Frontier Fudousan Co
(8934)
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Rating:61Neutral
Price Target:
¥2,679.00
▲(7.81% Upside)
Action:Downgraded
Date:05/12/26
The score is primarily constrained by weak cash-flow quality (negative operating and free cash flow for three straight years) and increased leverage, despite strong revenue growth and solid margins. Technical indicators also point to a bearish trend. These risks are partially offset by an attractive valuation (low P/E) and a ~3% dividend yield.
Positive Factors
Revenue Growth Momentum
Revenue more than doubled in 2026 after a strong 2025, reflecting successful deal sourcing and execution. Durable top-line expansion supports scale in leasing, management fees and renovation services, broadening the company’s recurring income base over months.
Negative Factors
Weak Cash-Flow Conversion
Operating and free cash flow turned negative for three consecutive years, meaning reported profits are not converting to cash. That constrains liquidity, raises refinancing risk and limits capacity to self-fund acquisitions or cushion property-market downturns.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth Momentum
Revenue more than doubled in 2026 after a strong 2025, reflecting successful deal sourcing and execution. Durable top-line expansion supports scale in leasing, management fees and renovation services, broadening the company’s recurring income base over months.
Read all positive factors
Sun Frontier Fudousan Co (8934) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥143.50B
Dividend Yield3.03%
Average Volume (3M)99.95K
Price to Earnings (P/E)7.7
Beta (1Y)0.79
Revenue Growth12.51%
EPS Growth12.42%
CountryJP
Employees1,076
SectorReal Estate
Sector Strength53
IndustryReal Estate - Development
Share Statistics
EPS (TTM)327.78
Shares Outstanding57,407,314
10 Day Avg. Volume89,190
30 Day Avg. Volume99,950
Financial Highlights & Ratios
PEG Ratio0.65
Price to Book (P/B)1.07
Price to Sales (P/S)1.11
P/FCF Ratio-5.38
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)325.3
Revenue Forecast (FY)¥132.50B
Sun Frontier Fudousan Co Business Overview & Revenue Model
Company Description
Based in Tokyo, Sun Frontier Fudousan Co., Ltd. provides extensive real estate revitalization services, primarily assisting property owners, asset managers, and high-net-worth individuals. The company's operations are divided into four main segmen...
How the Company Makes Money
Sun Frontier Fudousan generates revenue primarily through (1) real estate sales: acquiring office buildings (often requiring repositioning), enhancing their value through renovation, tenanting, and other improvements, and selling them to investors...
Sun Frontier Fudousan Co Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
63
Positive
Cash Flow
34
Negative
| Breakdown | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 116.08B | 103.17B | 79.87B | 82.78B | 71.25B |
| Gross Profit | 34.20B | 32.23B | 26.41B | 22.81B | 19.34B |
| EBITDA | 28.58B | 24.15B | 19.80B | 16.94B | 13.84B |
| Net Income | 15.99B | 14.16B | 11.92B | 11.61B | 7.42B |
Balance Sheet | |||||
| Total Assets | 264.46B | 218.19B | 188.66B | 152.52B | 136.51B |
| Cash, Cash Equivalents and Short-Term Investments | 39.27B | 44.92B | 47.87B | 42.02B | 30.05B |
| Total Debt | 118.03B | 92.46B | 79.54B | 55.66B | 51.07B |
| Total Liabilities | 144.08B | 112.29B | 94.25B | 68.56B | 62.06B |
| Stockholders Equity | 119.76B | 102.19B | 90.55B | 80.73B | 71.31B |
Cash Flow | |||||
| Free Cash Flow | -23.89B | -8.26B | -13.46B | 9.01B | 8.96B |
| Operating Cash Flow | -18.04B | -4.24B | -11.00B | 16.54B | 17.44B |
| Investing Cash Flow | -10.29B | -8.81B | -4.21B | -6.68B | -9.38B |
| Financing Cash Flow | 22.20B | 9.48B | 20.99B | 2.04B | 443.00M |
Sun Frontier Fudousan Co Technical Analysis
Negative
2485.00
Price Trends
2424.94
Positive
2526.38
Negative
2461.60
Negative
Market Momentum
4.87
Positive
44.22
Neutral
6.85
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:8934, the sentiment is Negative. The current price of 2485 is below the 20-day moving average (MA) of 2508.80, above the 50-day MA of 2424.94, and above the 200-day MA of 2461.60, indicating a neutral trend. The MACD of 4.87 indicates Positive momentum. The RSI at 44.22 is Neutral, neither overbought nor oversold. The STOCH value of 6.85 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:8934.
Sun Frontier Fudousan Co Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
61 Neutral | ¥143.50B | 7.65 | 14.49% | 2.93% | 12.51% | 12.42% | |
61 Neutral | ¥842.19B | 10.58 | 10.89% | 4.23% | 17.22% | 1.86% | |
59 Neutral | ¥703.49B | 14.01 | 8.82% | 3.34% | -5.83% | -26.32% | |
58 Neutral | ¥1.34T | 11.18 | 13.09% | 3.51% | 22.88% | 16.05% | |
56 Neutral | ¥3.33T | 15.78 | 9.02% | 1.20% | 4.29% | 12.72% | |
54 Neutral | ¥169.15B | 9.90 | 15.16% | 2.66% | 27.38% | 29.98% |
* Real Estate Sector Average
JP:8934
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Sun Frontier Fudousan Co Corporate Events
Sun Frontier Fudousan Completes Restricted Stock Treasury Share Disposal
Jul 23, 2026
Sun Frontier Fudousan Co. has completed the payment procedures for the disposal of treasury shares used as restricted stock compensation for its executive officers and certain employees, following a board resolution made in late June 2026. The pro...
Sun Frontier Fudousan Completes Treasury Share Disposal for Director Restricted Stock Pay
Jul 23, 2026
Sun Frontier Fudousan Co., Ltd. has completed payment procedures for the disposal of treasury shares to be used as restricted stock remuneration for its directors. The move involves 11,759 common shares at a disposal price of 2,339 yen per share, ...
Sun Frontier Fudousan Issues Restricted Treasury Shares to Executives and Staff
Jun 23, 2026
Sun Frontier Fudousan has approved the disposal of 20,163 treasury shares as restricted stock to 10 executive officers and 68 employees, valued at a total of ¥47,161,257 based on a disposal price of ¥2,339 per share. The restricted stock...
Sun Frontier Fudousan to Grant Restricted Stock to Directors via Treasury Share Disposal
Jun 23, 2026
Sun Frontier Fudousan has approved the disposal of 11,759 treasury shares as restricted stock remuneration for five internal directors, with a total value of about ¥27.5 million based on a disposal price of ¥2,339 per share. The issuance...
Sun Frontier Fudousan Raises Annual Dividend as Part of Long-Term Shareholder Return Policy
May 19, 2026
Sun Frontier Fudousan has approved a year-end dividend of 38 yen per share from retained earnings for the fiscal year ended March 31, 2026, matching its earlier forecast. This brings the total annual dividend to 76 yen per share, up from 66 yen in...
Sun Frontier Fudousan Sets 2026 Director Slate, Emphasizes Governance and Continuity
May 11, 2026
Sun Frontier Fudousan has resolved to nominate a slate of directors ahead of its 27th Annual General Meeting of Shareholders scheduled for June 23, 2026, reaffirming its existing leadership while adding new executives to the board. Chairman and Re...
Sun Frontier Fudousan Raises 2028 Targets on Strong Progress and Itochu Alliance
May 11, 2026
Sun Frontier Fudousan has revised upward its medium-term management plan for the fiscal year ending March 2028 after a strong first year, with steady performance across its core real estate revitalization, services, and hotel and tourism operation...
Sun Frontier Fudousan Plans Higher Dividend for FY2027/3, Extending Long Growth Streak
May 11, 2026
Sun Frontier Fudousan has set its cash dividend forecast for the fiscal year ending March 2027 at 80 yen per share, up from 76 yen in the previous year, split evenly between interim and year-end payments. The company frames this increase as part o...
Sun Frontier Fudousan Unveils Fiscal 2026 Results and Strategic Focus
May 11, 2026
Sun Frontier Fudousan Co. released its financial results for the fiscal year ended March 31, 2026, outlining performance and management policies as a Prime Market-listed real estate group. The company highlighted its strategic focus on growth init...
Sun Frontier Fudousan Lifts FY2026 Earnings, Assets and Dividends While Forecasting Further Growth
May 11, 2026
Sun Frontier Fudousan reported consolidated net sales of ¥116.1 billion for the fiscal year ended March 31, 2026, up 12.5% year on year, with operating profit rising 19.2% to ¥25.4 billion and profit attributable to owners of parent incr...
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.