Company Valuation: ASJ Inc.

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026
Market Cap 1 10,003 4,946 3,602 3,332 2,711 2,949
Change - -50.56% -27.17% -7.51% -18.62% 8.77%
Enterprise Value (EV) 1 9,428 4,365 2,900 2,683 2,415 2,519
Change - -53.71% -33.56% -7.49% -9.96% 4.3%
P/E 232x -10.2x 58.1x 29.7x 11x 33.8x
PBR 3.46x 1.99x 1.42x 1.25x 0.94x 1.01x
PEG - 0x -1x 0.4x 0x -0.5x
Capitalization / Revenue 3.99x 1.99x 1.31x 1.17x 0.99x 1.11x
EV / Revenue 3.76x 1.75x 1.05x 0.94x 0.88x 0.95x
EV / EBITDA 27.4x 13.1x 8.03x 7.15x 5.7x 6.25x
EV / EBIT 210x 336x 37.2x 26.3x 15x 20.3x
EV / FCF 160x -91.9x 24.5x -129x -7.24x 14.5x
FCF Yield 0.62% -1.09% 4.07% -0.78% -13.8% 6.92%
Dividend per Share 2 2 2 2 2 2 2
Rate of return 0.16% 0.32% 0.44% 0.48% 0.59% 0.53%
EPS 2 5.47 -61.13 7.798 14.09 30.94 11.17
Distribution rate 36.6% -3.27% 25.6% 14.2% 6.46% 17.9%
Net sales 1 2,506 2,491 2,753 2,846 2,741 2,661
EBITDA 1 344 332 361 375 424 403
EBIT 1 45 13 78 102 161 124
Net income 1 43 -484 62 112 246 88
Net Debt 1 -575 -581 -702 -649 -296 -430
Reference price 2 1,270.00 622.00 453.00 419.00 341.00 378.00
Nbr of stocks (in thousands) 7,876 7,951 7,951 7,951 7,951 7,802
Announcement Date 25/06/21 27/06/22 26/06/23 26/06/24 27/06/25 23/06/26
1JPY in Million2JPY
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 16.63M
21.83x3.49x12.38x3.17% 200B
-94.18x14.89x86.21x-.--% 93.2B
10.67x1.17x6.15x4.52% 87.86B
14.71x2.68x10.13x5.59% 85.25B
19.62x5.15x12.71x2.9% 59.17B
14.24x2.08x8.72x5.47% 46.1B
20.09x1.49x9.43x0.98% 35.57B
18.84x1.52x9.54x1.58% 35.24B
16.4x2.11x9.79x5.27% 33.83B
Average 4.69x 3.84x 18.34x 3.27% 67.61B
Weighted average by Cap. 2.26x 4.43x 20.81x 3.25%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA