Kadokawa Corporation (JP:9468)
:9468
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Kadokawa Corporation
(9468)
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Rating:44Neutral
Price Target:
¥3,262.00
▲(3.85% Upside)
Action:Reiterated
Date:05/15/26
The score is held down primarily by weakened profitability and sharply lower free cash flow in TTM, despite a strong low-leverage balance sheet. Technical indicators also point to soft momentum, and the very high P/E with a low dividend yield further pressures the overall rating.
Positive Factors
Conservative balance sheet
Very low leverage and modest total debt give durable financial flexibility. This reduces refinancing and interest-rate risk, supports multi-year content investments or licensing deals, and provides a buffer when title-dependent revenues and timing cause cash swings.
Negative Factors
Compressed margins
Sustained low operating and net margins materially reduce earnings power from core operations. That narrows funds available for content production, marketing, and platform investment, making the business more sensitive to cost inflation and hit-driven revenue volatility.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Very low leverage and modest total debt give durable financial flexibility. This reduces refinancing and interest-rate risk, supports multi-year content investments or licensing deals, and provides a buffer when title-dependent revenues and timing cause cash swings.
Read all positive factors
Kadokawa Corporation (9468) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥451.43B
Dividend Yield0.98%
Average Volume (3M)553.58K
Price to Earnings (P/E)436.2
Beta (1Y)0.02
Revenue Growth1.80%
EPS Growth-84.10%
CountryJP
Employees6,269
SectorCommunication Services
Sector Strength97
IndustryPublishing
Share Statistics
EPS (TTM)8.74
Shares Outstanding148,990,300
10 Day Avg. Volume524,610
30 Day Avg. Volume553,583
Financial Highlights & Ratios
PEG Ratio-5.20
Price to Book (P/B)2.25
Price to Sales (P/S)1.97
P/FCF Ratio809.11
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥3,000.00Price Target Upside-4.49% Downside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)85.3
Revenue Forecast (FY)¥293.11B
Kadokawa Corporation Business Overview & Revenue Model
Company Description
Kadokawa Corporation (9468) is a prominent Japanese media and publishing company, primarily engaged in the production and distribution of books, magazines, and digital content. The company operates in various sectors, including publishing, film, a...
How the Company Makes Money
Kadokawa makes money by monetizing intellectual property (IP) across multiple formats and channels. Key revenue streams include: (1) Publishing: sales of print and digital books, manga, light novels, and magazines through bookstores, online retail...
Kadokawa Corporation Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
78
Positive
Cash Flow
34
Negative
| Breakdown | Mar 2026 | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 282.91B | 277.92B | 258.11B | 255.43B | 221.21B |
| Gross Profit | 96.75B | 99.08B | 86.61B | 90.86B | 75.59B |
| EBITDA | 20.30B | 24.91B | 25.37B | 32.06B | 24.62B |
| Net Income | 1.28B | 7.39B | 11.38B | 12.68B | 14.08B |
Balance Sheet | |||||
| Total Assets | 394.86B | 410.03B | 340.31B | 382.90B | 325.32B |
| Cash, Cash Equivalents and Short-Term Investments | 116.83B | 146.30B | 105.35B | 167.22B | 123.93B |
| Total Debt | 10.93B | 27.28B | 25.83B | 65.89B | 65.70B |
| Total Liabilities | 118.11B | 132.62B | 127.74B | 159.72B | 149.58B |
| Stockholders Equity | 248.04B | 252.22B | 190.59B | 202.55B | 171.90B |
Cash Flow | |||||
| Free Cash Flow | 689.00M | 7.20B | 5.17B | 14.71B | 19.50B |
| Operating Cash Flow | 3.42B | 13.84B | 8.30B | 17.52B | 21.71B |
| Investing Cash Flow | -20.96B | -8.37B | 3.49B | 20.01B | -7.44B |
| Financing Cash Flow | -22.51B | 44.04B | -65.80B | -5.54B | 26.19B |
Kadokawa Corporation Technical Analysis
Negative
3141.00
Price Trends
3464.34
Negative
3280.98
Positive
3348.35
Negative
Market Momentum
-50.70
Positive
41.11
Neutral
22.25
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:9468, the sentiment is Negative. The current price of 3141 is below the 20-day moving average (MA) of 3474.15, below the 50-day MA of 3464.34, and below the 200-day MA of 3348.35, indicating a bearish trend. The MACD of -50.70 indicates Positive momentum. The RSI at 41.11 is Neutral, neither overbought nor oversold. The STOCH value of 22.25 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:9468.
Kadokawa Corporation Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | ¥3.71B | 3.64 | ― | 2.95% | 9.54% | 5.99% | |
71 Outperform | ¥13.71B | 16.40 | ― | 3.16% | -1.07% | -25.73% | |
62 Neutral | ¥19.15B | 33.91 | ― | 2.01% | 6.50% | 33.16% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
60 Neutral | ¥8.60B | 2.04 | ― | 1.06% | 7.53% | 124.36% | |
52 Neutral | ¥2.48B | -397.06 | ― | ― | 8.82% | -48.52% | |
44 Neutral | ¥451.43B | 436.21 | ― | 0.98% | 1.80% | -84.10% |
* Communication Services Sector Average
JP:9468
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Kadokawa Corporation Corporate Events
Kadokawa Overhauls Board and Executive Lineup to Strengthen Governance and Content Operations
May 14, 2026
Kadokawa Corporation has proposed a 12-member board slate for approval at its June 24 shareholders’ meeting, featuring seven independent directors, with 25 percent women and 8.3 percent non-Japanese members, underscoring a push toward more d...
Kadokawa Seeks Court-Appointed Inspector Amid Activist Bid to Oust CEO
May 14, 2026
Kadokawa Corporation has disclosed that it received a shareholder proposal from Oasis Japan Strategic Fund Y Ltd., seeking the dismissal of Chief Executive Officer Takeshi Natsuno from his position as director at the 12th Annual Shareholders’...
Kadokawa Board Rejects Activist Bid to Oust CEO Natsuno
May 14, 2026
Kadokawa’s board has formally rejected a shareholder proposal from Oasis Japan Strategic Fund Y Ltd. seeking the dismissal of CEO and director Takeshi Natsuno at the June 24 annual general meeting. The board, following its Nominating Committ...
Kadokawa Launches Early Retirement Program, Flags Extraordinary Loss for FY 2026
May 14, 2026
Kadokawa Corporation has approved a special early retirement program as it moves to streamline its organization amid shifting global content demand and increasing pressure for leaner cost structures. The program is positioned as both a structural ...
Kadokawa Maintains ¥30 Year-End Dividend, Reaffirms Stable Payout Policy
May 14, 2026
Kadokawa Corporation’s board has approved a year-end dividend of 30 yen per share for the fiscal year ended March 31, 2026, matching both its prior-year payout and previously announced forecast. The total dividend distribution will be 4,462 ...
Kadokawa Misses Profit Targets as Tax Charge and Impairments Weigh on FY2026 Results
May 14, 2026
Kadokawa Corporation, a major Japanese media and entertainment group listed on the TSE Prime Market, operates in publishing, animation, and gaming, offering books, comics, anime, and games to domestic and overseas markets. Its multi-segment conten...
Kadokawa Unveils FY2026–FY2031 Plan Focused on Transformation and Growth
May 14, 2026
Kadokawa Corporation has outlined a new mid-term management plan covering fiscal years 2026 to 2031 that centers on transformation, growth, and expansion across its core operations. The plan is structured around a review of the current strategy an...
Kadokawa Profit Slumps Despite Higher Sales, Eyes Earnings Rebound in FY2027
May 14, 2026
Kadokawa reported a modest 1.8% rise in consolidated net sales to ¥282.9 billion for the year ended March 31, 2026, but profits fell sharply, with operating profit down 51.3% and net profit attributable to owners plunging 82.7% amid weaker ma...
Oasis Management Overtakes Sony as Kadokawa’s Largest Shareholder
Mar 27, 2026
Kadokawa Corporation has disclosed a shift in its shareholder structure, with Hong Kong-based activist fund Oasis Management Company Ltd. becoming its largest shareholder. Oasis increased its stake to 11.89% of voting rights as of March 18, 2026, ...
Oasis Management Raises Stake in Kadokawa to Over 10%, Becomes Major Shareholder
Mar 25, 2026
Kadokawa Corporation has disclosed that Oasis Management Company, an asset manager based in the Cayman Islands, has increased its stake in the company to 10.03% of voting rights, crossing the threshold to become a major shareholder. The change, id...
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.