Heiwa Paper Co., Ltd. (JP:9929)
:9929
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Heiwa Paper Co., Ltd.
(9929)
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Rating:54Neutral
Price Target:
¥474.00
▲(0.85% Upside)
Action:Reiterated
Date:05/18/26
The score is held back primarily by weak recent profitability (very thin margins) and uneven cash-flow history, despite a solid, conservatively levered balance sheet. Technicals are broadly neutral, and valuation looks somewhat high versus current earnings power, with the dividend offering only modest offset.
Positive Factors
Conservative balance sheet / low leverage
Sustained low debt-to-equity (≈0.18–0.26) and stable equity provide durable financial flexibility. This conservatism supports resilience through cyclical downturns, funds working-capital needs without aggressive borrowing, and preserves capacity for selective investments or dividend maintenance.
Negative Factors
Very thin operating and net margins
Margins near zero leave little buffer for cost inflation or input-price shocks. With operating and net margins around 0.4–0.5%, the business has limited ability to convert revenue into durable profits, constraining return on capital and sensitivity to adverse market swings.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet / low leverage
Sustained low debt-to-equity (≈0.18–0.26) and stable equity provide durable financial flexibility. This conservatism supports resilience through cyclical downturns, funds working-capital needs without aggressive borrowing, and preserves capacity for selective investments or dividend maintenance.
Read all positive factors
Heiwa Paper Co., Ltd. (9929) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥4.50B
Dividend Yield2.62%
Average Volume (3M)1.35K
Price to Earnings (P/E)54.2
Beta (1Y)0.20
Revenue Growth-1.47%
EPS Growth-32.24%
CountryJP
Employees195
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)10.35
Shares Outstanding10,116,917
10 Day Avg. Volume1,330
30 Day Avg. Volume1,346
Financial Highlights & Ratios
PEG Ratio-1.68
Price to Book (P/B)0.42
Price to Sales (P/S)0.27
P/FCF Ratio7.99
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
Heiwa Paper Co., Ltd. Business Overview & Revenue Model
Company Description
Heiwa Paper Co.,Ltd. engages in paper trading activities in Japan and internationally. The company imports, develops, sells, and exports specialty papers, high-grade papers, industrial papers, and other paper materials. It also provides fancy pape...
How the Company Makes Money
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Heiwa Paper Co., Ltd. Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
72
Positive
Cash Flow
55
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 15.99B | 15.80B | 16.03B | 16.12B | 16.07B | 15.62B |
| Gross Profit | 3.28B | 3.10B | 3.11B | 3.18B | 3.13B | 2.82B |
| EBITDA | 283.83M | 251.86M | 304.78M | 272.51M | 241.09M | 262.90M |
| Net Income | 97.92M | 78.63M | 117.03M | 136.33M | 874.80M | 87.26M |
Balance Sheet | ||||||
| Total Assets | 17.77B | 17.77B | 18.17B | 19.04B | 17.78B | 15.90B |
| Cash, Cash Equivalents and Short-Term Investments | 2.62B | 2.22B | 2.67B | 2.84B | 3.07B | 3.32B |
| Total Debt | 2.35B | 1.83B | 2.45B | 2.46B | 2.41B | 2.15B |
| Total Liabilities | 7.89B | 7.53B | 8.26B | 8.94B | 8.37B | 7.37B |
| Stockholders Equity | 9.87B | 10.25B | 9.92B | 10.10B | 9.41B | 8.53B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 533.05M | -264.78M | 96.00M | -1.13B | 228.18M |
| Operating Cash Flow | 0.00 | 1.05B | 260.77M | 122.83M | 121.11M | 234.00M |
| Investing Cash Flow | 0.00 | -383.85M | -554.34M | -13.21M | -408.28M | -13.88M |
| Financing Cash Flow | 0.00 | -838.28M | -171.47M | -344.65M | 43.13M | -123.12M |
Heiwa Paper Co., Ltd. Technical Analysis
Positive
470.00
Price Trends
464.16
Positive
463.30
Positive
449.49
Positive
Market Momentum
0.16
Negative
55.70
Neutral
96.30
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:9929, the sentiment is Positive. The current price of 470 is above the 20-day moving average (MA) of 462.50, above the 50-day MA of 464.16, and above the 200-day MA of 449.49, indicating a bullish trend. The MACD of 0.16 indicates Negative momentum. The RSI at 55.70 is Neutral, neither overbought nor oversold. The STOCH value of 96.30 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:9929.
Heiwa Paper Co., Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | ¥3.26B | 6.09 | ― | 4.43% | -9.65% | -18.91% | |
67 Neutral | ¥8.70B | 12.25 | ― | 3.00% | -4.29% | -6.54% | |
63 Neutral | ¥3.25B | 4.16 | ― | 3.33% | 2.11% | -18.14% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
59 Neutral | ¥19.46B | 4.64 | ― | 3.37% | -5.28% | 383.86% | |
58 Neutral | ¥7.75B | -72.44 | ― | 3.00% | 4.43% | 24.34% | |
54 Neutral | ¥4.50B | 54.16 | ― | 2.62% | -1.47% | -32.24% |
* Basic Materials Sector Average
JP:9929
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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.