Sun Frontier Fudousan Co Ltd (JP:8934)
:8934
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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
¥113.56B
Dividend Yield2.93%
Average Volume (3M)99.95K
Price to Earnings (P/E)8.0
Beta (1Y)0.88
Revenue Growth12.51%
EPS Growth12.42%
CountryJP
Employees763
SectorReal Estate
Sector Strength53
IndustryReal Estate - Services
Share Statistics
EPS (TTM)N/A
Shares Outstanding48,755,500
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)N/A
Revenue Forecast (FY)N/A
Sun Frontier Fudousan Co Business Overview & Revenue Model
Company Description
Sun Frontier Fudousan Co., Ltd. provides real estate revitalization services to building owners, asset holders, and wealthy individuals in Tokyo. It operates through Real Estate Revitalization Business, Real Estate Service Business, Hotel and Tour...
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 | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 114.81B | 116.08B | 103.17B | 79.87B | 82.78B | 71.25B |
| Gross Profit | 36.17B | 34.20B | 32.23B | 26.41B | 22.81B | 19.34B |
| EBITDA | 27.33B | 28.58B | 24.15B | 19.80B | 16.94B | 13.84B |
| Net Income | 16.26B | 15.99B | 14.16B | 11.92B | 11.61B | 7.42B |
Balance Sheet | ||||||
| Total Assets | 217.87B | 264.46B | 218.19B | 188.66B | 152.52B | 136.51B |
| Cash, Cash Equivalents and Short-Term Investments | 40.78B | 39.27B | 44.92B | 47.87B | 42.02B | 30.05B |
| Total Debt | 93.96B | 118.03B | 92.46B | 79.54B | 55.66B | 51.07B |
| Total Liabilities | 110.20B | 144.08B | 112.29B | 94.25B | 68.56B | 62.06B |
| Stockholders Equity | 104.02B | 119.76B | 102.19B | 90.55B | 80.73B | 71.31B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -23.89B | -8.26B | -13.46B | 9.01B | 8.96B |
| Operating Cash Flow | 0.00 | -18.04B | -4.24B | -11.00B | 16.54B | 17.44B |
| Investing Cash Flow | 0.00 | -10.29B | -8.81B | -4.21B | -6.68B | -9.38B |
| Financing Cash Flow | 0.00 | 22.20B | 9.48B | 20.99B | 2.04B | 443.00M |
Sun Frontier Fudousan Co Technical Analysis
Negative
2485.00
Price Trends
2640.83
Negative
2559.88
Negative
2409.65
Negative
Market Momentum
-87.19
Positive
29.59
Positive
13.34
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 2547.30, below the 50-day MA of 2640.83, and above the 200-day MA of 2409.65, indicating a bearish trend. The MACD of -87.19 indicates Positive momentum. The RSI at 29.59 is Positive, neither overbought nor oversold. The STOCH value of 13.34 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% | |
65 Neutral | ¥1.26T | 19.14 | 13.29% | 3.25% | 24.50% | 11.52% | |
65 Neutral | ¥649.90B | 32.57 | 10.59% | 2.94% | -5.83% | -26.32% | |
62 Neutral | ¥211.44B | 7.44 | 16.39% | 2.38% | 11.56% | 14.99% | |
61 Neutral | ¥113.56B | 8.03 | 15.81% | 2.93% | 12.51% | 12.42% | |
56 Neutral | ¥825.70B | 10.45 | 7.40% | 3.68% | 24.40% | 11.46% | |
56 Neutral | ¥3.49T | 26.96 | 9.64% | 0.97% | 4.29% | 12.76% |
* Real Estate Sector Average
JP:8934
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Sun Frontier Fudousan Co Corporate Events
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...
Sun Frontier Fudousan Gains ITOCHU as Key Strategic Shareholder After Tender Offer
Apr 10, 2026
Sun Frontier Fudousan has announced the completion of a tender offer for its common shares by SI Corporation, a wholly owned subsidiary of trading giant ITOCHU Corporation, with 7,768,279 shares tendered against a purchase cap of 6,656,900 shares....
Sun Frontier Fudousan Lowers Conversion Price on 1st-Series Convertible Bonds
Apr 1, 2026
Sun Frontier Fudousan has adjusted the conversion price on its 1st Series Unsecured Convertible Bonds with Share Acquisition Rights, issued in October 2023, lowering it from 1,554 yen to 1,546.1 yen. The new conversion price will apply from April ...
Sun Frontier Fudousan Completes ¥13.4 Billion Third-Party Share Allotment to ITOCHU
Apr 1, 2026
Sun Frontier Fudousan has completed payment for a previously announced third-party allotment of new shares, issuing 5.5 million common shares at 2,438 yen each to ITOCHU Corporation. The transaction raises approximately 13.4 billion yen, equally i...
Sun Frontier Fudousan Corrects Issued Share Count in Alliance Notice with ITOCHU
Feb 27, 2026
Sun Frontier Fudousan has issued a partial correction to its previously announced notice regarding a capital and business alliance with ITOCHU Corporation, a third-party allotment of new shares, and a change in a major shareholder. The company dis...
Sun Frontier Fudousan Forms Capital Alliance With ITOCHU as Trading House Becomes Major Shareholder
Feb 26, 2026
Sun Frontier Fudousan has entered into a capital and business alliance with trading giant ITOCHU Corporation and will issue new shares to ITOCHU via a third-party allotment, which will make ITOCHU a major shareholder. The move aligns Sun Frontier ...
Sun Frontier Fudousan Backs ITOCHU Unit’s Tender Offer While Staying Listed
Feb 26, 2026
Sun Frontier Fudousan’s board has endorsed a tender offer for its common shares by SI Corporation, a wholly owned subsidiary of ITOCHU Corporation, at 2,800 yen per share, while leaving the final decision to tender up to individual sharehold...
Sun Frontier Fudousan Forms Strategic Capital and Business Alliance With Itochu
Feb 25, 2026
Sun Frontier Fudousan has entered into a capital and business alliance with trading conglomerate Itochu Corporation to accelerate growth and enhance its medium- to long-term corporate value. The partnership aims to strengthen property sourcing net...
Sun Frontier Fudousan to Sell Three Central Tokyo Office Buildings, Impact Already Priced Into Forecasts
Feb 25, 2026
Sun Frontier Fudousan Co., Ltd. has approved the sale of three office buildings located in Shinjuku, Shibuya, and Chiyoda wards in central Tokyo. The properties comprise multi-story reinforced concrete office structures with site and floor areas r...
Sun Frontier Fudousan Expands Shareholder Benefits and Eligible Hotel Network
Feb 25, 2026
Sun Frontier Fudousan has approved an expansion of its shareholder benefit program, effective with benefits issued in June 2026, to encourage medium- to long-term shareholding and deepen understanding of its business. The revised scheme introduces...
Sun Frontier to Absorb Subsidiary to Boost Replanning Business Asset Use
Feb 17, 2026
Sun Frontier Fudousan Co. will conduct an absorption-type merger of its wholly owned subsidiary Kawakami Seihon Co., Ltd. on April 1, 2026, dissolving the smaller entity without issuing new shares or paying consideration. The move is aimed at comm...
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.