Vision, Inc. ( Japan) (9416) AI Stock Analysis

• Market Cap: ¥62.51B
• Dividend Yield: 2.63%
• Average Volume (3M): 260.78K
• Price to Earnings (P/E): 14.3
• Beta (1Y): 0.71
• Revenue Growth: 12.85%
• EPS Growth: 7.74%
• Country: JP
• Employees: 782
• Sector: Communication Services
• Sector Strength: 97
• Industry: Telecommunications Services
• EPS (TTM): 27.34
• Shares Outstanding: 50,938,600
• 10 Day Avg. Volume: 247,460
• 30 Day Avg. Volume: 260,780
• PEG Ratio: 0.44
• Price to Book (P/B): 2.98
• Price to Sales (P/S): 1.63
• P/FCF Ratio: 38.36
• 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): 102.7
• Revenue Forecast (FY): ¥43.60B

• Rating: 73 Outperform
• Price Target: ¥1,371.00 ▲(6.03% Upside)
• Action: Reiterated Date: 02/18/26
• Date: Action: Reiterated 02/18/26

The score is driven primarily by strong financial performance (profitability recovery and low leverage), supported by reasonable valuation and a high dividend yield. Offsetting factors are weaker cash-flow conversion and mixed-to-weak technical signals with the price below key short- and medium-term moving averages.

Positive Factors

Conservative Balance Sheet

Very low leverage and a materially larger equity base provide financial flexibility to fund investments, withstand demand shocks, and support dividends or buybacks. A conservative balance sheet reduces refinancing risk and underpins medium-term stability for operating plans.

Improved Profitability & Margins

Sustained margin expansion and higher revenue reflect scalable unit economics and operational improvements. Healthy gross and operating margins support durable earnings power and provide buffer to absorb competitive pressure or cycle dips over the next several quarters.

Consistent Positive Free Cash Flow

Maintaining positive free cash flow across multiple years demonstrates the business can self-fund routine reinvestment and distributions. Even with volatility, sustained FCF provides capacity for capex, working-capital needs, and shareholder returns absent major external financing.

Negative Factors

Weak Cash Conversion

A persistent gap between reported earnings and cash flow suggests working-capital swings or timing differences that reduce cash reliability. Over months this weakens the firm's ability to fund growth or dividends without tapping reserves or increasing external funding.

Moderating Growth & Cyclicality

Top-line growth has slowed from prior rebound levels and the company's track record includes a severe downturn in 2020, indicating exposure to travel/cycle risks. Slower revenue expansion can limit margin leverage and increase sensitivity to competitive or macro shocks.

Rising Debt Trend

Although leverage remains low, the uptick in debt in 2025 signals potential reliance on external funding if growth or cash volatility continues. Without disciplined capital allocation this trend could erode the balance-sheet advantage and raise financing costs over time.

Vision, Inc. ( Japan) Business Overview & Revenue Model

Company Description

Vision Inc. provides mobile Wi-Fi router rental services worldwide. The company provides fixed-line telecommunication, mobile communication, broadband, and internet media; office automation equipment; website-related services; and travel information and transportation services, as well as marketing and promotion services. The company was founded in 1995 and is headquartered in Tokyo, Japan.

How the Company Makes Money

Vision, Inc. generates revenue primarily through its telecommunications services, which include mobile subscription plans, internet access, and enterprise-level communication solutions. Key revenue streams include monthly subscription fees from individual and business customers, sales of mobile devices and accessories, and fees from cloud services and digital platforms. Additionally, partnerships with other technology firms and service providers enhance their offerings and expand their market reach, contributing to their overall earnings. The company also invests in research and development to innovate and stay competitive, which can lead to new revenue opportunities.

Vision, Inc. ( Japan) Financial Statement Overview

Summary

Strong multi-year profitability improvement and a conservatively financed balance sheet (low leverage, strong recent ROE) support a high score. The main offset is weaker cash-flow quality/consistency, with operating cash flow and free cash flow running well below net income and free cash flow down versus prior years.

Income Statement

Profitability and growth have improved materially since 2020, with revenue rising from ~¥16.7B (2020) to ~¥39.0B (2025) and margins expanding meaningfully. 2025 shows solid profitability (gross margin ~55.6%, operating margin ~16.6%, net margin ~11.6%) and steady top-line growth (~4.9%). Strengths include consistent margin progress from 2021–2025 and strong earnings scale-up; weakness is that growth has moderated versus the rapid rebound years (2022–2023), and the business has a history of losses in 2020, which highlights cyclicality/execution risk.

Balance Sheet

The balance sheet looks conservatively financed with low leverage (debt-to-equity ~0.09 in 2025) and a growing equity base (equity up from ~¥8.8B in 2020 to ~¥21.3B in 2025). Returns on equity are strong in recent years (about ~21% in 2025), indicating efficient capital use. The key drawback is debt increased in 2025 versus 2024 (while still low overall), so continued discipline is needed to prevent leverage creep if growth slows.

Cash Flow

Cash generation is positive but more volatile than earnings. Operating cash flow was solid in 2025 (~¥3.54B) and free cash flow remained positive (~¥1.65B), yet free cash flow declined from 2024 and is well below the 2023 level. Cash conversion is a mixed picture: operating cash flow has been materially lower than net income in recent years (2025 operating cash flow ~53% of net income), and free cash flow is also below net income (2025 ~47%), which points to working-capital swings and/or higher reinvestment needs. Positives include the clear turnaround from negative cash flow in 2020 and the ability to sustain positive free cash flow through 2022–2025.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	37.19B	39.01B	35.53B	31.81B	25.49B	18.10B
Gross Profit	21.14B	21.68B	20.57B	17.80B	12.33B	9.01B
EBITDA	6.28B	7.41B	6.25B	5.15B	2.79B	1.27B
Net Income	3.53B	4.52B	3.38B	3.03B	1.55B	729.13M
Balance Sheet
Total Assets	26.54B	30.17B	25.26B	21.37B	17.95B	14.93B
Cash, Cash Equivalents and Short-Term Investments	11.48B	13.56B	11.88B	10.22B	8.17B	7.62B
Total Debt	534.78M	1.93B	600.00M	723.43M	981.47M	902.29M
Total Liabilities	6.96B	8.88B	7.37B	6.76B	5.91B	4.81B
Stockholders Equity	19.57B	21.28B	17.89B	14.61B	12.03B	10.12B
Cash Flow
Free Cash Flow	0.00	1.65B	2.04B	3.24B	254.45M	1.18B
Operating Cash Flow	0.00	3.54B	3.12B	5.05B	1.54B	1.41B
Investing Cash Flow	0.00	-2.12B	-1.16B	-1.84B	-1.20B	-554.28M
Financing Cash Flow	0.00	139.85M	-478.02M	-1.04B	137.05M	30.81M

Vision, Inc. ( Japan) Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1293.00
• 50DMA: Negative
• 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:9416, the sentiment is Negative. The current price of 1293 is above the 20-day moving average (MA) of 1290.85, above the 50-day MA of 1277.93, and above the 200-day MA of 1199.12, indicating a neutral trend. The MACD of 4.43 indicates Negative momentum. The RSI at 48.17 is Neutral, neither overbought nor oversold. The STOCH value of 74.79 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:9416.

Vision, Inc. ( Japan) Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
3834	80 Outperform	¥19.32B	12.60	―	3.53%	5.03%	-9.55%
4390	80 Outperform	¥42.73B	14.88	―	1.28%	-7.46%	11.57%
9416	73 Outperform	¥62.51B	14.33	―	2.63%	12.85%	7.74%
3934	73 Outperform	¥12.64B	13.17	―	2.10%	13.64%	44.55%
9424	66 Neutral	¥22.35B	22.27	―	―	30.15%	31.28%
9450	64 Neutral	¥14.32B	10.97	―	4.02%	5.13%	-13.74%
Sector *	60 Neutral	$48.67B	4.58	-11.27%	4.14%	2.83%	-41.78%

Vision, Inc. ( Japan) Corporate Events

Vision Inc. Lowers Sales Targets but Boosts Shareholder Returns in Revised 2025–2028 Plan

Vision Inc. has partially revised its 2025–2028 business strategy, lowering its sales targets but keeping operating profit and net income goals intact, reflecting confidence in profitability despite a more conservative revenue outlook. The company now aims for about 40% sales growth by fiscal 2028 versus 2024, while increasing its focus on profit margins and shifting its emphasis from volume to quality.

Under the updated plan, Vision will prioritize cash allocation toward growth investments in AI, DX, new businesses and M&A, while flexibly redirecting some of the ¥89 billion earmarked for growth to share buybacks if suitable deals do not materialize. It will also maintain a solid equity base to support an optimal capital structure that sustains a return on equity of roughly 20% over the plan period.

The company has strengthened its shareholder return policy by committing to a 50% dividend payout ratio not only for fiscal 2026 but also for fiscal 2027 and 2028, enhancing visibility for investors. In addition, it will introduce an 8% dividend-on-equity benchmark for fiscal 2026–2028, ensuring higher, more stable dividends if earnings temporarily weaken and underlining its focus on capital efficiency and shareholder value.

The most recent analyst rating on (JP:9416) stock is a Buy with a Yen1452.00 price target. To see the full list of analyst forecasts on Vision, Inc. ( Japan) stock, see the JP:9416 Stock Forecast page.

Vision Inc. Announces FY2025 Results, FY2026 Outlook and Growth Plans

Vision Inc. released its FY2025 financial results on February 13, 2026, outlining performance highlights for the year and presenting its earnings profile to investors. The company also provided an FY2026 financial forecast, indicating expectations for its near-term business trajectory and setting the stage for operational planning.

In addition, Vision Inc. detailed its initiatives for future growth, including strategic efforts aimed at strengthening competitiveness and expanding its business. The release further addressed shareholder returns and sustainability policies, signaling continued attention to ESG and SDG themes that are increasingly important to stakeholders.

The most recent analyst rating on (JP:9416) stock is a Buy with a Yen1452.00 price target. To see the full list of analyst forecasts on Vision, Inc. ( Japan) stock, see the JP:9416 Stock Forecast page.

Vision Inc. Delivers Strong 2025 Earnings and Sharp Dividend Hike, Guides Further Growth for 2026

Vision Inc. reported consolidated net sales of ¥39.0 billion for the year ended December 31, 2025, up 9.8% year on year, with operating profit rising 20.5% to ¥6.47 billion and profit attributable to owners of parent jumping 34.0% to ¥4.52 billion. The company’s profitability metrics improved, with operating margin reaching 16.6% and ROE at 23.6%, while total assets expanded to ¥30.2 billion and cash and cash equivalents increased to ¥13.5 billion, underscoring a stronger balance sheet and cash position.

Shareholders will receive a sharply higher annual dividend of ¥50 per share for fiscal 2025, including a ¥5 commemorative component, compared with ¥27 a year earlier, lifting the consolidated dividend payout ratio to 54.3%. For fiscal 2026, Vision forecasts continued growth, guiding for net sales of ¥42.0 billion, operating profit of ¥7.5 billion and profit attributable to owners of parent of ¥5.1 billion, alongside a slightly higher planned annual dividend of ¥51 per share, signaling confidence in sustained earnings expansion and ongoing shareholder returns.

The most recent analyst rating on (JP:9416) stock is a Buy with a Yen1452.00 price target. To see the full list of analyst forecasts on Vision, Inc. ( Japan) stock, see the JP:9416 Stock Forecast page.