Inaba Denkisangyo Co., Ltd. (9934) AI Stock Analysis

• Market Cap: ¥303.06B
• Dividend Yield: 2.97%
• Average Volume (3M): 75.90K
• Price to Earnings (P/E): 14.0
• Beta (1Y): 0.74
• Revenue Growth: 8.25%
• EPS Growth: 26.01%
• Country: JP
• Employees: 2,156
• Sector: Industrials
• Sector Strength: 72
• Industry: Electrical Equipment & Parts
• EPS (TTM): 45.51
• Shares Outstanding: 113,659,600
• 10 Day Avg. Volume: 74,800
• 30 Day Avg. Volume: 75,903
• PEG Ratio: 0.58
• Price to Book (P/B): 1.24
• Price to Sales (P/S): 0.56
• P/FCF Ratio: 9.63
• 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): N/A
• Revenue Forecast (FY): N/A

• Rating: 77 Outperform
• Price Target: ¥3,215.00 ▲(24.44% Upside)
• Action: Reiterated Date: 11/30/25
• Date: Action: Reiterated 11/30/25

Inaba Denkisangyo Co., Ltd. scores well due to its strong financial performance and solid valuation. The technical analysis indicates bullish momentum, though caution is advised due to overbought signals. The absence of earnings call data and corporate events does not impact the score.

Positive Factors

Balance Sheet Strength

A low debt-to-equity ratio and substantial cash reserves provide durable financial flexibility. This reduces refinancing and liquidity risk, supports dividend payments or opportunistic M&A, and helps the distributor weather cyclical end-market downturns without forced asset sales.

Cash Generation

Consistent free cash flow growth driven by operating cash flow underpins long-term capital allocation. Strong cash generation funds working capital for distribution, funds capex and dividends, and enables deleveraging or strategic investments without reliance on external financing.

Revenue and Margin Trends

Sustained revenue growth paired with stable gross and net margins indicates durable demand and effective cost control. For a trading distributor, this suggests maintained pricing ability and operational efficiency, supporting long-term profitability and reinvestment capacity.

Negative Factors

Cyclicality of End Markets

Revenue depends heavily on construction and industrial project cycles, creating durable exposure to macroeconomic swings. As a distributor, contract timing and project-driven orders can cause multi-quarter revenue variability and complicate capacity and inventory planning.

Product-Mix Margin Risk

Profitability is sensitive to shifts toward commoditized, low-margin products. Intense distributor competition or a change in customer purchasing toward basic components can compress gross margins and require sustained service differentiation to preserve long-term earnings power.

Capex Volatility

Variable capital spending can introduce recurring pressure on free cash flow and planning. If capex spikes are unpredictable, they reduce cash available for dividends, debt reduction, or investments, and make multi-period cash generation less predictable for investors.

Inaba Denkisangyo Co., Ltd. Business Overview & Revenue Model

Company Description

Inaba Denki Sangyo Co.,Ltd. provides electrical equipment and materials, industrial solutions, and proprietary products in Japan. The company supplies a range of products, including light fittings, air conditioning systems, distribution panels, and other electric equipment; and power sockets, wiring accessories, and other electrical materials for various types of houses, office buildings, and public facilities. It also sells environment-friendly products, such as solar photovoltaic systems and LED light fittings; and plans and sells JAPPY brand products. In addition, the company offers sensors, switches, relays, and other control units; and combinations of LCD devices, connectors, condensers, and other electrical components. Further, it develops pipe covers, insulated copper tubes, and other products for use with air conditioners under the INABA DENKO brand; multimedia-compatible wiring systems for newly-built digital age residences under the ABANIACT brand; and provides LED status indicating lights, sound alarms, visual, and audible communication network system and solutions under the PATLITE brand. Inaba Denki Sangyo Co.,Ltd. was founded in 1938 and is headquartered in Osaka, Japan.

How the Company Makes Money

Inaba Denkisangyo generates revenue through multiple key streams, primarily from the sales of its food products, including canned fish, seafood, and pet food items. The company leverages its strong brand recognition and distribution network to reach a wide audience, both in Japan and overseas. Significant partnerships with retailers and wholesalers enhance its market penetration. Additionally, Inaba capitalizes on trends in health and wellness by offering products that cater to these consumer demands, which further contributes to its revenue growth. The company also engages in exports, tapping into international markets that seek high-quality Japanese food products, thus broadening its revenue base.

Inaba Denkisangyo Co., Ltd. Financial Statement Overview

Summary

Inaba Denkisangyo Co., Ltd. demonstrates strong financial performance with consistent revenue growth, robust profit margins, and effective cost management. The balance sheet is solid with low debt and strong equity, while cash flows are healthy, ensuring liquidity and financial flexibility.

Income Statement

Inaba Denkisangyo Co., Ltd. demonstrates strong financial performance with consistent revenue growth, highlighted by a 11.2% increase in total revenue from 2024 to 2025. Gross profit margin and net profit margin are robust, reflecting efficient cost management and profitability. The EBIT and EBITDA margins are stable, indicating effective operational control. Overall, the company shows a healthy upward trajectory in revenue and profitability.

Balance Sheet

The company maintains a solid balance sheet with a low debt-to-equity ratio, signaling prudent financial leverage. Return on equity is strong, reflecting effective use of shareholder capital. The equity ratio supports a stable financial position, with a significant portion of assets funded by equity. The company's balance sheet stability is reinforced by substantial cash reserves.

Cash Flow

Cash flow analysis reveals robust free cash flow growth, driven by increased operating cash flow. The company maintains a healthy operating cash flow to net income ratio, illustrating strong cash generation relative to reported profits. Free cash flow to net income ratio is favorable, ensuring liquidity and financial flexibility. However, fluctuations in capital expenditures warrant monitoring.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	389.40B	384.01B	345.37B	316.95B	289.07B	277.37B
Gross Profit	66.40B	65.09B	57.05B	52.32B	48.16B	43.40B
EBITDA	22.81B	28.39B	24.93B	22.93B	19.34B	18.16B
Net Income	19.23B	18.78B	15.62B	15.43B	12.27B	11.32B
Balance Sheet
Total Assets	272.35B	278.98B	262.81B	245.65B	235.42B	219.50B
Cash, Cash Equivalents and Short-Term Investments	84.03B	77.06B	69.50B	67.88B	77.57B	75.02B
Total Debt	6.13B	259.00M	430.00M	414.00M	392.00M	426.00M
Total Liabilities	97.39B	105.96B	100.54B	94.42B	94.17B	83.81B
Stockholders Equity	174.96B	173.02B	162.27B	151.23B	141.25B	135.69B
Cash Flow
Free Cash Flow	0.00	22.21B	13.68B	1.31B	10.06B	11.09B
Operating Cash Flow	0.00	23.28B	15.10B	2.70B	11.05B	14.07B
Investing Cash Flow	0.00	-10.46B	-577.00M	-15.45B	-5.27B	-2.15B
Financing Cash Flow	0.00	-8.37B	-7.04B	-6.04B	-6.27B	-5.75B

Inaba Denkisangyo Co., Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 2583.50
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:9934, the sentiment is Positive. The current price of 2583.5 is below the 20-day moving average (MA) of 2720.70, below the 50-day MA of 2691.33, and above the 200-day MA of 2287.42, indicating a neutral trend. The MACD of -23.82 indicates Positive momentum. The RSI at 48.94 is Neutral, neither overbought nor oversold. The STOCH value of 56.04 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:9934.

Inaba Denkisangyo Co., Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
5805	78 Outperform	¥416.55B	14.04	18.90%	1.64%	7.08%	65.71%
9934	77 Outperform	¥303.06B	14.01	―	2.97%	8.25%	26.01%
6516	75 Outperform	¥181.97B	16.57	―	1.53%	3.37%	21.35%
6674	73 Outperform	¥522.98B	8.10	9.63%	2.12%	3.05%	-16.11%
7931	69 Neutral	¥55.63B	8.63	―	4.44%	2.08%	-11.16%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
6905	59 Neutral	¥52.40B	195.39	―	5.01%	-32.74%	-117.06%

Inaba Denkisangyo Co., Ltd. Corporate Events

Inaba Denki Sangyo Nears Completion of Share Buyback Program After Share Split

Inaba Denki Sangyo reported the monthly status of its ongoing share buyback program authorized under Japan’s Companies Act, noting that it acquired no shares during the period from February 1 to February 28, 2026, incurring no acquisition costs in that month. The buyback is part of a broader board-approved program, adjusted for a recent two-for-one share split, under which the company has so far repurchased 1,541,300 shares for about ¥3.66 billion by the end of February, signaling continued capital return to shareholders and potential support for its share price.

The current authorization allows for market purchases of up to 2,100,000 shares following the share split, with a maximum budget of ¥4.4 billion, and runs through April 30, 2026 via discretionary trading contracts. With roughly three-quarters of the authorized monetary amount already deployed and a substantial portion of the target shares acquired, the company appears to be nearing completion of the program, a move that may enhance earnings per share and underscore management’s confidence in its valuation while modestly tightening the stock’s free float.

The most recent analyst rating on (JP:9934) stock is a Buy with a Yen3264.00 price target. To see the full list of analyst forecasts on Inaba Denkisangyo Co., Ltd. stock, see the JP:9934 Stock Forecast page.

Inaba Denki Sangyo Updates Progress on Ongoing Share Buyback Program

Inaba Denki Sangyo Co., Ltd. reported progress on its ongoing share buyback program authorized under its Articles of Incorporation, aimed at acquiring its own common shares within a set quota and period. Between January 1 and January 31, 2026, the company repurchased 46,400 shares for approximately ¥115.8 million, bringing cumulative buybacks under the current Board authorization to 1,541,300 shares at a total cost of about ¥3.66 billion, out of a maximum 2.1 million shares and ¥4.4 billion budget (post share split), underscoring a continued focus on capital efficiency and shareholder returns.

The most recent analyst rating on (JP:9934) stock is a Buy with a Yen2906.00 price target. To see the full list of analyst forecasts on Inaba Denkisangyo Co., Ltd. stock, see the JP:9934 Stock Forecast page.

Inaba Denki Sangyo Lifts Nine-Month Profit 24% and Confirms Stable Dividend After Share Split

Inaba Denki Sangyo reported solid growth for the nine months ended 31 December 2025, with net sales up 6.9% year on year to ¥291.6 billion and profit attributable to owners of the parent rising 24.0% to ¥15.7 billion, reflecting stronger margins as operating profit climbed 20.2%. The company’s financial position also strengthened, with total assets of ¥282.8 billion and an equity ratio improving to 65.4%, while earnings per share increased on a split-adjusted basis following a 2-for-1 share split implemented on 1 December 2025. For the fiscal year ending 31 March 2026, management is maintaining its forecast of modest full-year growth, projecting net sales of ¥392.0 billion and profit attributable to owners of the parent of ¥19.4 billion, and signaling stable shareholder returns through a forecast year-end dividend effectively unchanged at the equivalent of ¥140 per pre-split share, underscoring confidence in continued steady performance.

The most recent analyst rating on (JP:9934) stock is a Buy with a Yen2906.00 price target. To see the full list of analyst forecasts on Inaba Denkisangyo Co., Ltd. stock, see the JP:9934 Stock Forecast page.

Inaba Denki Sangyo Reports Ongoing Progress in Share Buyback Program After Share Split

Inaba Denki Sangyo has disclosed the progress of its ongoing share buyback program, carried out under provisions of the Companies Act and based on a board resolution from October 31, 2025. During the period from December 1 to December 31, 2025, the company repurchased 377,400 of its own shares for a total of ¥938.3 million as part of a broader plan—adjusted for a two-for-one share split effective December 1, 2025—to acquire up to 2.1 million shares for a maximum of ¥4.4 billion via market purchases. Cumulatively, as of December 31, 2025, the company had bought back 1,494,900 shares at a cost of approximately ¥3.55 billion, signaling continued capital return to shareholders and active balance sheet management that may support earnings per share and share price in the medium term.

The most recent analyst rating on (JP:9934) stock is a Buy with a Yen2844.00 price target. To see the full list of analyst forecasts on Inaba Denkisangyo Co., Ltd. stock, see the JP:9934 Stock Forecast page.