Financials Kinden Corporation

Stocks

1944

JP3263000006

Construction & Engineering

Market Closed - Japan Exchange Other stock markets 02:30:00 2026-07-17 EDT			5-day change	1st Jan Change
7,084.00 ^JPY	-4.15%		-7.20%	+4.28%

07-07	Kinden Completes Tender Offer for The Kodensha Co	MT
07-05	Kinden Corporation completed the acquisition of 42.53% stake in The Kodensha Co., Ltd. from a group of shareholders for ¥42.7 billion	CI

Projected Income Statement: Kinden Corporation

Fiscal Period: March	2022	2023	2024	2025	2026	2027	2028	2029
Net sales ¹	566,794	609,132	654,516	705,058	750,742	807,514	846,771	895,625
Change	-	7.47%	7.45%	7.72%	6.48%	7.56%	4.86%	5.77%
EBITDA ¹	43,771	44,234	49,409	68,088	99,210	106,800	115,460	133,100
Change	-	1.06%	11.7%	37.8%	45.71%	7.65%	8.11%	15.28%
EBIT ¹	37,087	37,430	42,677	60,979	90,256	99,529	108,943	125,000
Change	-	0.92%	14.02%	42.88%	48.01%	10.27%	9.46%	14.74%
Interest Paid ¹	-158	-162	-135	-234	-241	-3,000	-2,500	-2,250
Earnings before Tax (EBT) ¹	39,444	42,709	49,062	66,571	97,638	104,033	112,467	125,375
Change	-	8.28%	14.88%	35.69%	46.67%	6.55%	8.11%	11.48%
Net income ¹	26,366	28,722	33,553	47,250	69,447	71,680	79,071	85,650
Change	-	8.94%	16.82%	40.82%	46.98%	3.22%	10.31%	8.32%
Announcement Date	4/28/22	4/26/23	4/24/24	4/25/25	4/27/26	-	-	-

¹JPY in Million

Estimates

Fiscal Period: March	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1	2027 Q2	2027 Q3	2027 Q4
Net sales ¹	107,357	136,787	131,054	191,596	115,451	142,657	144,565	206,459	112,798	157,872	156,442	227,404	133,244	164,796	166,545	240,473	141,412	179,966	177,889	251,475	150,000	195,000	205,000	270,000
Change	-	27.41%	-4.19%	46.2%	-39.74%	23.56%	1.34%	42.81%	-45.37%	39.96%	-0.91%	45.36%	-41.41%	23.68%	1.06%	44.39%	-41.19%	27.26%	-1.15%	41.37%	-40.35%	30%	5.13%	31.71%
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	2,787	8,770	8,302	17,228	354	6,245	6,968	23,863	869	8,266	11,485	22,057	1,963	10,913	17,831	30,272	7,243	24,644	20,070	38,299	9,700	27,800	25,500	41,500
Change	-	214.68%	-5.34%	107.52%	-97.95%	1,664.12%	11.58%	242.47%	-96.36%	851.21%	38.94%	92.05%	-91.1%	455.93%	63.39%	69.77%	-76.07%	240.25%	-18.56%	90.83%	-74.67%	186.6%	-8.27%	62.75%
Charge d'intérêts	-35	-	-32	-	-31	-	-13	-	-42	-	-32	-	-41	-	-107	-	-57	-	-108	-	-	-	-	-
Earnings before Tax (EBT)	4,250	8,997	9,167	17,030	1,929	7,057	8,346	25,377	2,352	9,303	14,816	-	4,241	11,003	20,907	30,420	8,235	25,795	23,093	40,515	-	-	-	-
Change	-	111.69%	1.89%	85.78%	-88.67%	265.84%	18.27%	204.06%	-90.73%	295.54%	59.26%	-	-	159.44%	90.01%	45.5%	-72.93%	213.24%	-10.47%	75.44%	-	-	-	-
Net income ¹	2,331	6,211	6,184	11,640	608	4,879	5,548	17,687	1,125	6,372	10,088	15,968	2,237	7,578	14,615	22,820	4,365	18,238	17,654	29,190	6,000	21,500	17,500	32,600
Change	-	166.45%	-0.43%	88.23%	-94.78%	702.47%	13.71%	218.8%	-93.64%	466.4%	58.32%	58.29%	-85.99%	238.76%	92.86%	56.14%	-80.87%	317.82%	-3.2%	65.34%	-79.45%	258.33%	-18.6%	86.29%
Announcement Date	7/29/21	10/28/21	1/31/22	4/28/22	7/27/22	10/31/22	1/30/23	4/26/23	7/27/23	10/30/23	1/31/24	4/24/24	7/30/24	10/31/24	1/31/25	4/25/25	7/31/25	10/28/25	1/29/26	4/27/26	-	-	-	-

¹JPY in Million

Estimates

Fiscal Period: March	2022 S2	2023 S1	2023 S2	2024 S1	2025 S1	2026 S1	2027 S1	2027 S2
Net sales ¹	322,650	258,108	351,024	270,670	298,040	321,378	345,000	-
Change	-	-20%	36%	-22.89%	10.11%	7.83%	7.35%	-
EBITDA	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
EBIT ¹	25,530	6,599	30,831	9,135	12,876	31,887	37,500	69,000
Change	-	-74.15%	367.21%	-70.37%	40.95%	147.65%	17.6%	84%
Charge d'intérêts	-	-98	-	-90	-78	-89	-	-
Earnings before Tax (EBT)	26,197	8,986	33,723	11,655	15,244	34,030	-	-
Change	-	-65.7%	275.28%	-65.44%	30.79%	123.24%	-	-
Net income ¹	17,824	5,487	23,235	7,497	9,815	22,603	27,500	-
Change	-	-69.22%	323.46%	-67.73%	30.92%	130.29%	21.67%	-
Announcement Date	4/28/22	10/31/22	4/26/23	10/30/23	10/31/24	10/28/25	-	-

¹JPY in Million

Estimates

Forecast Balance Sheet: Kinden Corporation

Fiscal Period: March	2022	2023	2024	2025	2026	2027	2028	2029
Net Debt ¹	-182,852	-182,968	-185,900	-181,220	-177,547	39,605	-103,015	-5,762
Change	-	-0.06%	-1.6%	2.52%	2.03%	122.31%	-360.11%	94.41%
Announcement Date	4/28/22	4/26/23	4/24/24	4/25/25	4/27/26	-	-	-

¹JPY in Million

Estimates

Cash Flow Forecast: Kinden Corporation

Fiscal Period: March	2022	2023	2024	2025	2026	2027	2028	2029
CAPEX ¹	5,425	28,597	27,522	12,904	53,510	30,800	21,667	5,000
Change	-	427.13%	-3.76%	-53.11%	314.68%	-42.44%	-29.65%	-76.92%
Free Cash Flow (FCF) ¹	22,975	2,760	16,341	28,150	27,800	7,742	60,206	83,968
Change	-	-87.99%	492.07%	72.27%	-1.24%	-72.15%	677.65%	39.47%
Announcement Date	4/28/22	4/26/23	4/24/24	4/25/25	4/27/26	-	-	-

¹JPY in Million

Estimates

Forecast Financial Ratios: Kinden Corporation

Fiscal Period: March	2022	2023	2024	2025	2026	2027	2028	2029
Profitability
EBITDA Margin (%)	7.72%	7.26%	7.55%	9.66%	13.21%	13.23%	13.64%	14.86%
EBIT Margin (%)	6.54%	6.14%	6.52%	8.65%	12.02%	12.33%	12.87%	13.96%
EBT Margin (%)	6.96%	7.01%	7.5%	9.44%	13.01%	12.88%	13.28%	14%
Net margin (%)	4.65%	4.72%	5.13%	6.7%	9.25%	8.88%	9.34%	9.56%
FCF margin (%)	4.05%	0.45%	2.5%	3.99%	3.7%	0.96%	7.11%	9.38%
FCF / Net Income (%)	87.14%	9.61%	48.7%	59.58%	40.03%	10.8%	76.14%	98.04%
Profitability
ROA	5.78%	5.58%	5.9%	7.88%	8%	8.4%	8.9%	9.37%
ROE	5.3%	5.5%	6.1%	8.1%	12.61%	12.57%	13.37%	14.86%
Financial Health
Leverage (Debt/EBITDA)	-	-	-	-	-	0.37x	-	-
Debt / Free cash flow	-	-	-	-	-	5.12x	-	-
Capital Intensity
CAPEX / Current Assets (%)	0.96%	4.69%	4.2%	1.83%	7.13%	3.81%	2.56%	0.56%
CAPEX / EBITDA (%)	12.39%	64.65%	55.7%	18.95%	53.94%	28.84%	18.77%	3.76%
CAPEX / FCF (%)	23.61%	1,036.12%	168.42%	45.84%	192.48%	397.83%	35.99%	5.95%
Items per share
Cash flow per share ¹	161.3	173.4	198.5	271.8	442.6	538.6	539.1	619.4
Change	-	7.5%	14.51%	36.92%	62.83%	21.7%	0.09%	14.9%
Dividend per Share ¹	37	40	63	90	130	240	191.6	228.8
Change	-	8.11%	57.5%	42.86%	44.44%	84.62%	-20.18%	19.41%
Book Value Per Share ¹	2,493	2,599	2,848	3,014	3,340	3,287	3,509	3,767
Change	-	4.23%	9.6%	5.83%	10.83%	-1.6%	6.75%	7.36%
EPS ¹	128.6	140.2	165.3	236.3	350.5	417.3	449.6	525.2
Change	-	8.94%	17.97%	42.89%	48.37%	19.04%	7.75%	16.82%
Nbr of stocks (in thousands)	204,945	204,971	201,565	199,292	197,993	197,988	197,988	197,988
Announcement Date	4/28/22	4/26/23	4/24/24	4/25/25	4/27/26	-	-	-