TSE: 7952 - Kawai Musical Instruments Manufacturing Co., Ltd.

Yield per half year: -6.52%
Dividend yield: +6.74%
Sector: Consumer Cyclical

Reporting Kawai Musical Instruments Manufacturing Co., Ltd.

Capitalization

IFRS

Reporting Annual Quarterly

	2018	2019	2020	2021	2022	2023	2024	LTM	5 year average	CAGR 5
Капитализация, млрд ¥								28.6
Выручка, млрд ¥	70.8	72.38	71.3	67.52	85.7	87.77	80.19	80.19	78.50	2.38
Чистая прибыль, млрд ¥	1.95	2.01	1.55	2.58	5.05	3.67	2.78	2.78	3.13	12.39
EV, млрд ¥	28.02	19.72	14.79	21.92	16.04	15.05	21.34	21.34	17.83	7.61
EBIT, млрд ¥	3	3.47	2.96	3.49	7.39	5.05	4.29	4.29	4.64	7.70
EBITDA, млрд ¥	4.81	5.11	4.75	5.64	8.93	6.71	5.91	5.91	6.39	4.47
Баланс стоимость, млрд ¥	23.22	24.91	25.62	27.82	33.38	38.26	42.93	42.93	33.60	10.88
FCF, млрд ¥	1.5	2	0.246	4.08	4.02	-2.07	0.102	0.102	1.28	-16.14
Операционный денежный поток, млрд ¥	3.11	3.65	1.57	4.94	5.08	-0.613	1.44	1.44	2.48	-1.71
Операционная прибыль, млрд ¥	2.75	3.67	2.96	3.49	6.7	5.05	3.26	3.26	4.29	1.95
Операционные расходы, млрд ¥	15.12	15.57	15.57	14.61	16.79	17.77	17.46	17.46	16.44	2.32
CAPEX, млрд ¥	1.61	1.65	1.33	0.867	1.06	1.45	1.34	1.34	1.21	0.15

	2022Q1	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	5 quarters average	CAGR 5
Выручка, млрд ¥		21.26	22.67	3 626.16	19.41	21	19.53	20.26	17.6	18.55	18.3	18.85	-1.29
Чистая прибыль, млрд ¥		0.85	0.729	184.46	0.777	0.76	0.58	0.665	-0.283	-0.123	0.236	0.2150	-16.46
EV, млрд ¥		11.27	13	2 286.55	18.59	21.25	20.64	23.14	19.73	18.08	20.21	20.36	-0.42
EBIT, млрд ¥		1.29	1.3	205.51	0.8348	1.23	0.56	0.843	-0.555	0.333	0.063	0.2488	-35.40
EBITDA, млрд ¥		1.32	1.26	244.95	1.25	1.63	0.964	1.29	-0.1505	0.758	0.4675	0.6658	-13.48
Баланс стоимость, млрд ¥		37.4	38.39	6 011.24	38.95	41.27	42.36	42.93	42.96	43.84	42.14	42.85	-0.10
FCF, млрд ¥			0.818	0.992		0.788	0.808					0.8515	-0.31
Операционный денежный поток, млрд ¥	5.08	-1.69	0.818	0.992		0.788	0.808					0.3432	-186.28
Операционная прибыль, млрд ¥		1.29	1.3	205.51	0.778	1.03	0.958	0.483	-0.555	0.333	0.063	0.2564	-41.98
Операционные расходы, млрд ¥		4.52	4.52	690.23	4.38	4.27	4.42	4.38	4.53	4.53	4.66	4.50	1.06
CAPEX, млрд ¥	1.05	0.588		1.41								1.02	10.33

	5 quarters average	CAGR 5

Cash flow Cash flow quarterly Assets

Balance sheet

IFRS

Reporting Annual Quarterly

	2018	2019	2020	2021	2022	2023	2024	LTM	5 year average	CAGR 5
Наличность, млрд ¥	10.98	11.8	10.39	19.47	22.66	19.32	18.23	18.23	18.01	11.90
Short Term Investments ¥		1.42	1.42	1.41	1.44	1.5	1.17	1.17	1.39	-3.80
Total Receivables ¥		7.28	6.47	7.68	9.49	9.66	9.12	9.12	8.48	7.11
Total Current Assets ¥		29.86	29.18	38.22	46.44	48.69	49.72	49.72	42.45	11.25
Чистые активы, млрд ¥	29.05	29.86	29.18	38.22	13.33	13.54		13.54	24.83	-14.63
Активы, млрд ¥	52.91	53.23	51.76	60.7	68.39	70.82	73.54	73.54	65.04	7.28
Short Term Debt ¥		5.86	5.29	6.06	5.9	5.22	5.2	5.2	5.53	-0.34
Long Term Debt ¥		1.09	0.7	5.59	4.53	4	2.92	2.92	3.55	33.06
Задолженность, млрд ¥	29.6	28.23	26.04	32.77	34.84	32.36	30.4	30.4	31.28	3.14
Чистый долг, млрд ¥	-2.8	-4.85	-4.39	-8.03	-12.37	-10.39	-10.11	-10.11	-9.0580	18.16
Долг, млрд ¥	8.18	6.95	5.99	11.44	10.43	9.22	8.12	8.12	9.04	6.27
Расходы на обслуживание долга ¥		0.048	0.045	0.078	0.08	0.085	0.071	0.071	0.0718	9.55
Чист. проц. доходы, млрд ¥	0.068	0.069	0.066	0.082	0.068	0.083	0.107	0.083	0.0812	10.15
Амортизация, млрд ¥		1.63	1.59	1.56	1.54	1.67	1.62	1.62	1.60	0.37
Себестоимость, млрд ¥			52.77	49.42	62.22	64.96	59.48	59.48	57.77	2.42
Товарно материальные запасы ¥		9.26	10.46	9.39	12.38	17.47	19.06	19.06	13.75	12.75

	2021Q4	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	5 quarters average	CAGR 5
Наличность, млрд ¥				20.37	17.76	3 034.77	18.32	17.97	17.85	17.06	16.08	14.98	13.36	15.87	-5.63
Short Term Investments ¥						210.38	1.51	1.38		1.17	1.48			43.18	-62.89
Total Receivables ¥				9.12	9.18	1 517.15	8.85	9.97	9.19	9.12	8.82	9.33	8.67	9.03	-1.16
Total Current Assets ¥				48.47	48.58	7 649.68	48.37	50.3	50.23	49.72	49.32	48.96	46.3	48.91	-1.62
Чистые активы, млрд ¥	42.6	46.44	47.26	48.47	13.59	2 126.61	13.37							449.86	-22.32
Активы, млрд ¥				70.75	70.84	11 126.9	70.67	73.01	73.08	75.37	73.12	72.78	70.07	72.88	-0.84
Short Term Debt ¥				5.51	5.31	819.69	3.98	2.95	4.9	4.5	5.15	5.11	5.58	5.05	2.63
Long Term Debt ¥		4.4	4.23	4.05	3.88	628.32	3.54	3.37	3.09	2.92				128.25	-65.85
Задолженность, млрд ¥				33.15	32.25	5 084.39	31.53	31.52	30.5	32.23	29.93	28.7	27.94	29.86	-1.74
Чистый долг, млрд ¥				-10.81	-8.57	-1 632.32	-9.6	-9.44	-9.53	-8.32	-8.18	-7.3	-5.28	-7.7220	-11.14
Долг, млрд ¥				9.56	9.19	1 402.45	8.72	8.52	8.32	8.74	7.9	7.69	8.08	8.15	-0.58
Расходы на обслуживание долга ¥		0.02	0.02	0.02	0.018	4.24	0.018	0.018	0.017	0.018	0.019			0.0180	1.09
Чист. проц. доходы, млрд ¥	0.016	0.019	0.019	0.025	0.014	3.93	3.3	4.09	3.46	0.038				2.96	-60.46
Амортизация, млрд ¥				0.026	-0.037	39.44	0.4163	0.394	0.404	0.448	0.4045	0.425	0.4045	0.4172	0.02
Себестоимость, млрд ¥							14.24	15.69	14.16	15.39	13.62	13.69	13.58	14.09	-0.83
Товарно материальные запасы ¥				16.44	18.9	2 744.25	18.37	19.36	20.17	19.06	20.13	20.57	19.61	19.91	-0.56

	5 quarters average	CAGR 5

Share

IFRS

Reporting Annual Quarterly

	2018	2019	2020	2021	2022	2023	2024	2025	LTM	5 year average	CAGR 5
EPS	224.12	235.23	180.17	300.06	587.15	427.27	323.68		323.68	363.67	12.43
Цена акции ао					2601	3560	2964	2730	2730	2963.75	1.22
Число акций ао, млн		8.55	8.58	8.6	8.59	8.59	8.6		8.6	8.59	0.05
FCF/акцию	172.54	234.06	28.69	474.11	468.12	-240.28	11.87		11.87	148.50	-16.18

	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	5 quarters average	CAGR 5
EPS	98.92	84.82	21461.76	90.41	88.41	67.47	77.36	-32.91	-14.3	27.44			25.01	-16.47
Цена акции ао											3085	2730	2907.50	-5.93
FCF/акцию		95.17	115.42		91.67	94							99.06	-0.31

	5 quarters average	CAGR 5

Efficiency

IFRS

Reporting Annual Quarterly

	2018	2019	2020	2021	2022	2023	2024	2025	LTM	Industry average	5 year average	CAGR 5
ROE, %	8.64	8.35	6.12	9.65	16.49	10.25	6.85		6.85	9.90	9.87	2.28
ROA, %	3.8	3.79	2.94	4.59	7.82	5.28	3.85		3.85	5.18	4.90	5.54
ROIC, %			6.38	7.73	12.98	9.27			9.27	8.22	9.09	9.79
ROS, %			2.17	3.82	5.89	4.18	3.47	3.47	3.47	5.36	4.17	-1.90
ROCE, %	8.39	9.48	8.04	8.01	15.46	9.81	7.77	9.95	7.77	13.72	10.20	4.43
Ebit margin, %			4.24	4.81	8.63	5.75	5.35	5.35	5.35		5.98	2.15
Рентаб EBITDA, %	6.8	7.05	6.66	8.35	10.42	7.65	7.37	7.37	7.37	12.39	8.23	-2.47
Чистая рентаб, %	2.76	2.78	2.17	3.82	5.89	4.18	3.47		3.47	5.36	3.91	9.84
Operation Margin, %			4.15	5.17	7.81	5.75	4.06	4.06	4.06	7.91	5.37	-4.72

	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q2	Industry average	5 quarters average	CAGR 5
ROE, %	2.55	2.08	3.21	2.06	1.96	1.46	1.63	-0.6758	-0.288	0.5489		9.90	0.5350	-17.77
ROA, %	1.21	1.03	1.66	1.1	1.06	0.7941	0.8959	-0.3812	-0.1686	0.3304		5.18	0.2941	-16.09
ROS, %				4	3.62	2.97	3.28	-1.61	-0.6629	1.29	3.47	5.36	1.15	1.13
ROCE, %		2.59	2.56	1.61	2.35	1.05	1.55	-1	0.5974	0.1137	9.95	13.72	2.24	45.04
Ebit margin, %				4.3	5.87	2.87	4.16	-3.15	1.79	0.3443	5.35		1.70	5.16
Рентаб EBITDA, %		5.58	6.76	6.45	7.75	4.94	6.37	-0.855	4.09	2.55	7.37	12.39	3.91	2.96
Чистая рентаб, %	4	3.22	5.09	4	3.62	2.97	3.28	-1.61	-0.6629	1.29		5.36	1.05	-15.36
Operation Margin, %				4.01	4.92	4.91	2.38	-3.15	1.79	0.3443	4.06	7.91	1.08	11.27

	Industry average	5 quarters average	CAGR 5

Coefficients

IFRS

Reporting Annual Quarterly

	2018	2019	2020	2021	2022	2023	2024	2025	LTM	Industry average	5 year average	CAGR 5
P/E	15.79	12.22	12.42	11.61	5.63	6.93	11.31		11.31	174.62	9.58	-1.85
P/BV	1.32	0.9826	0.7459	1.07	0.8464	0.6615	0.7292		0.7292	149.03	0.8106	-0.45
P/S	0.4353	0.3394	0.269	0.4436	0.3314	0.2898	0.3923		0.3923	148.13	0.3452	7.84
P/FCF						-13.82	280.39	280.39	280.39	65.38	182.32	-372.74
E/P						0.1283	0.0973	0.0973	0.0973	0.39	0.1076	-8.81
EV/EBIT			4.89	6.76	2.17	2.98	4.97	4.98	4.97		4.37	-5.93
EV/EBITDA	5.82	3.86	3.11	3.89	1.79	2.24	3.61		3.61	144.01	2.93	3.03
EV/S			0.2074	0.3247	0.1871	0.1715	0.2662	0.2667	0.2662	148.14	0.2432	-3.86
EV/FCF			60.11	5.38	3.99	-7.29	209.26	209.68	209.26	58.38	84.20	108.04
Debt/EBITDA	1.7	1.36	1.26	2.03	1.17	1.37	1.37	1.37	1.37	1.81	1.46	-7.56
Netdebt/Ebitda			-0.9252	-1.42	-1.38	-1.55	-1.71	-1.71	-1.71	0.18	-1.5540	3.79
Debt/Ratio			0.1158	0.192	0.1525	0.1301	0.1104	0.1104	0.1104	0.19	0.1391	-10.48
Debt/Equity			0.234	0.4189	0.3124	0.2409	0.1891	0.7046	0.1891	1.19	0.3732	10.96
Debt/Net Income			3.88	4.52	2.07	2.51	2.92	2.92	2.92	39.87	2.99	-8.37
PEG								-0.0256	-0.0256		-0.0256	0.00
Бета						-0.7628	1.46	1.21	1.21	49.23	0.6357	-216.62
Индекс Альтмана						1.28	1.06	1.01	1.01	-10.40	1.12	-7.59

	2022Q1	2022Q2	2022Q3	2022Q4	2023Q1	2023Q2	2023Q3	2023Q4	2024Q1	2024Q2	2024Q3	2024Q4	2025Q1	2025Q2	Industry average	5 quarters average	CAGR 5
P/E	5.63	4.83	4.94	5.28	6.79	7.99	8.92	9.17	11.31			51.47			174.62	17.77	45.14
P/BV			0.5874	0.559	0.6486	0.72	0.7398	0.7086	0.7292	0.6462	0.5757	0.6049			149.03	0.6529	-3.12
P/S			0.2559	0.2458	0.2842	0.3262	0.3562	0.3634	0.3923	0.3559	0.3341	0.3411			148.13	0.3574	-1.26
P/FCF														280.39	65.38	280.39	0.00
E/P														0.0973	0.39	0.0973	0.00
EV/EBIT						22.27	17.23	36.86	27.45	-35.55	54.29	320.81		4.98		74.40	-28.92
EV/EBITDA			1.68	2.06	2.54	2.79	3.22	3.5	4.51	5.29	6.32	8.54			144.01	5.63	19.53
EV/S						0.958	1.01	1.06	1.14	1.12	0.9743	1.1		0.2667	148.14	0.9202	-25.21
EV/FCF							26.96	25.55						209.68	58.38	87.40	98.13
Debt/EBITDA				7.27	5.73	6.97	5.24	8.63	6.77	-52.5	10.14	17.29		1.37	1.81	-3.3860	-27.35
Netdebt/Ebitda						-7.67	-5.8	-9.88	-6.45	54.34	-9.63	-11.29		-1.71	0.18	5.05	-23.32
Debt/Ratio						0.1234	0.1167	0.1138	0.116	0.1081	0.1056	0.1154		0.1104	0.19	0.1111	-0.98
Debt/Equity						0.224	0.2065	0.1964	0.2036	0.1839	0.1753	0.1918		0.7046	1.19	0.2918	28.18
Debt/Net Income						11.23	11.21	14.34	13.14	-27.92	-62.48	34.25		2.92	39.87	-8.0180	-25.98
PEG														-0.0256		-0.0256	0.00
Бета													0.1542	1.21	49.23	0.6821	180.12
Индекс Альтмана													1.01	1.01	-10.40	1.01	0.00

	Industry average	5 quarters average	CAGR 5

Dividends

IFRS

Reporting Annual Quarterly

	2017	2018	2019	2020	2021	2022	2023	2024	2025	LTM	Industry average	5 year average	CAGR 5
Див.выплата, млрд	0.444	0.428	0.471	0.471	0.471	0.642	0.731			0.731		0.5572	9.19
Дивиденд	2	50	2	55	55	75	85	95	95	95		81.00	11.55
Див доход, ао, %	0.077	1.24	0.0538	1.87	1.68	3.93	5.25	5.04	6.74	6.74	3.59	4.53	32.03
Дивиденды / прибыль, %		22.76	21.29	30.49	18.26	9.33	17.48	26.28		26.28	84.97	20.37	-2.93
Dividend Coverage Ratio									3.81	3.81		3.81	0.00

	2022Q1	2022Q3	2023Q1	2025Q2	Industry average	5 quarters average	CAGR 5
Див.выплата, млрд	0.471	0.641	0.642			0.5847	10.88
Дивиденды / прибыль, %	29.38	75.41	54.68		84.97	53.16	23.01
Dividend Coverage Ratio				3.81		3.81	0.00

	Industry average	5 quarters average	CAGR 5

Pay for your subscription

More functionality and data for company and portfolio analysis is available by subscription

Subscribe

Other

IFRS

Reporting Annual

	2023	2024	CAGR 5
Персонал, чел	2977	2977	0.00

	CAGR 5

	CAGR 5