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 -
Rate of return 0.16% 0.32% 0.44% 0.48% 0.59% -
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% -
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 6/25/21 6/27/22 6/26/23 6/26/24 6/27/25 6/23/26
1JPY in Million2JPY
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 16.28M
27.94x4.49x15.67x2.35% 270B
-91.57x14.47x83.76x-.--% 90.62B
10.05x1.1x5.78x4.8% 82.75B
13.42x2.44x9.2x6.12% 78.49B
19x5.01x12.36x2.99% 57.15B
13.87x2.02x8.47x5.61% 45.32B
19.09x1.53x9.63x1.5% 35.95B
20.08x1.48x9.43x0.99% 35.58B
15.86x2.03x9.43x5.45% 33.03B
Average 5.30x 3.84x 18.19x 3.31% 72.92B
Weighted average by Cap. 6.55x 4.61x 20.72x 3.03%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA