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3948.T — Tokyo Stock Exchange Commercial Printing Services

Hikari Business Form Co Ltd

¥1 102,00
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Mcap
5,9B JPY
P/E
41,7x
EV / Rev
0,3x
Div yield
3,81 %
Op margin
3,6 %
ROE
0,6 %
Net margin
2,8 %
Debt / equity
0,00
Beta
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52w range
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Volume
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Day range
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Prev close
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Open
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Next earnings
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Ex-dividend
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TR 1Y
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About

Hikari Business Form Co Ltd provides commercial printing services, primarily generating revenue through the production and distribution of printed materials and forms.

Business. Hikari Business Form Co Ltd (3948.T) is a commercial printing services company operating within the Industrial & Commercial Services sector. The firm is headquartered in Japan and is primarily listed on the Tokyo Stock Exchange. Specific details regarding its operating segments and geographic revenue mix are not available.

Classification92 %
SectorIndustrials
Business sectorIndustrial & Commercial Services
IndustryCommercial Printing Services
ActivityIndustrial Services
Generated · model-assisted
Sell-side consensus
—consensus pending
— buy— hold— sell
Avg 12m price target—
Upcoming events
— missing data
See all catalysts →

At a glance

Score
—
not yet scored
Valuation→
41,7x
P/E
Analysts
—
not yet wired
Ownership
—
not yet wired
Profitability→
0,6 %
return on equity
Quality
—
not yet scored

What drives this business

The watch-list the newsroom runs for this company — derived from its sector path, sharpened layer by layer. Not investment advice.

— missing data

News & coverage

0
  • No recent newsroom coverage mentioning 3948.

    • Sector rotation

    Sector1D1Mvs mkt
    Materials+2,3 %+6,6 %+1,7 %
    Communication Services+2,2 %−5,5 %+1,6 %
    Energy+0,6 %+3,3 %+0,0 %
    Health Care+0,6 %−0,8 %+0,0 %
    Information Technology+0,6 %+6,7 %+0,0 %
    Consumer Discretionary+0,4 %+7,6 %−0,2 %
    Financials−0,3 %−2,8 %−0,9 %
    Consumer Staples−0,4 %+2,5 %−1,0 %
    Real Estate−0,7 %+10,9 %−1,3 %
    Industrials · THIS SECTOR−1,9 %−3,1 %−2,5 %
    Utilities−1,9 %+28,2 %−2,5 %

    Developing storylines

    No tracked sagas currently linked to 3948.T. Browse all sagas →

    Analysis

    AI analysis
    Generated · analysis pipeline · tier hybrid · as of 2026-08-04 ↑ At a glance

    Opportunity

    — missing data

    Upcoming catalysts

    Scheduled public events. Informational only — not investment advice.

    • Macro
    • Rate decisionBank of England rate decision (press conf.)2026-08-06 · GB
    • Rate decisionReserve Bank of Australia rate decision (press conf.)2026-08-12 · AU
    • Rate decisionNorges Bank rate decision (press conf.)2026-08-20 · NO
    • Rate decisionSveriges Riksbank rate decision (press conf.)2026-09-03 · SE
    • Rate decisionBank of Canada rate decision (press conf.)2026-09-09 · CA
    • Rate decisionEuropean Central Bank rate decision (press conf.)2026-09-10 · EU
    • Macro & political
    • ElectionSE Swedish Election2026-09-14 · SE
    • ElectionUS U.S. Midterms2026-11-03 · US
    • ElectionFR French Legislative2027-06-01 · FR

    Pre-earnings brief

    — missing data

    Signals & dispatch

    peak dispatch · —

    Composite-score breakdown

    Synthesis

    Business

    Hikari Business Form Co Ltd (3948.T) is a commercial printing services company operating within the Industrial & Commercial Services sector. The firm is headquartered in Japan and is primarily listed on the Tokyo Stock Exchange. Specific details regarding its operating segments and geographic revenue mix are not available.

    Classification92 %
    SectorIndustrials
    Business sectorIndustrial & Commercial Services
    IndustryCommercial Printing Services
    ActivityIndustrial Services
    AI synthesis
    GENERATED

    Hikari Business Form Co Ltd maintains a strong liquidity position, with cash and equivalents amounting to ¥3.85 billion, representing 33.6% of total assets. The company's liquidity FPT score indicates a low liquidity risk, supported by a current ratio of 3.52, which is significantly above the industry median. The absence of long-term debt further enhances its financial flexibility.

    Profitability metrics for Hikari Business Form Co Ltd are modest, with a return on equity (ROE) of 0.59% and a return on assets (ROA) of 0.48%. These figures are below the industry median for ROE and ROA, indicating that the company is underperforming in terms of capital efficiency and asset utilization. The price-to-earnings (P/E) ratio of 114.53 is notably high, suggesting that the market is pricing in expectations of future earnings growth that have not yet materialized.

    The company's revenue is concentrated in a single business segment, as disclosed in its financial statements, with no geographic diversification provided in the available data. This lack of segment and geographic diversification increases exposure to sector-specific risks, such as shifts in demand for printed materials or regulatory changes affecting the printing industry.

    Looking ahead, Hikari Business Form Co Ltd is projected to experience a modest growth trajectory, with revenue expected to remain relatively stable in the current fiscal year. The company's outlook for the next fiscal year is neutral, with no significant revenue growth anticipated. This is consistent with the broader industry trend, where demand for traditional printing services has been flat or declining due to digital alternatives.

    Risk factors for Hikari Business Form Co Ltd are currently low, with no immediate filing-based liquidity or dilution flags detected. The company's dilution potential is also low, as there is no indication of recent or planned share issuances that could dilute existing shareholders. The absence of long-term debt and the strong liquidity position further reduce financial risk.

    Recent events, including filings and transcripts, do not indicate any material changes in the company's operations or strategic direction. The company has not disclosed any significant capital expenditures or research and development initiatives in the latest financial reports, suggesting a conservative approach to growth and investment.

    Key takeaways
    • Hikari Business Form Co Ltd has a strong liquidity position with no long-term debt and a current ratio of 3.52.
    • The company's profitability metrics (ROE and ROA) are below industry medians, indicating underperformance in capital efficiency.
    • Revenue is concentrated in a single business segment, increasing exposure to sector-specific risks.
    • The company is projected to experience stable but modest growth, with no significant revenue increases expected in the near term.
    • Risk factors are currently low, with no immediate liquidity or dilution concerns.

    Bull / Bear case

    Generated · model-assisted
    BULL CASE · 3

    The company maintains a zero debt-to-equity ratio, placing it in the top quartile for financial leverage within its peer cohort.

    Hikari Business Form exhibits low dilution, liquidity, and credit risks, suggesting a stable operational environment for investors.

    Operating margins remain stable at 3.6%, matching the median performance of the commercial printing services cohort.

    BEAR CASE · 1

    Revenue declined by 5.1% annually over the last four years, indicating a persistent contraction in the company's top line.

    In focus — financials by report

    Valuation FY

    Market price
    ¥1 102,00
    Market cap
    ¥6.33B
    Enterprise valueⓘ
    ¥2.48B
    P/Eⓘ
    41.7x
    Non-GAAP P/Eⓘ
    —
    EV / Revenueⓘ
    0.3x
    EV / Op incomeⓘ
    14.6x
    EV / OCFⓘ
    —
    P / Bⓘ
    0.7x
    P / Tangible bookⓘ
    0.7x
    Tangible book
    ¥9.44B
    Net cashⓘ
    ¥3.85B
    Current ratioⓘ
    3.5
    Debt / equityⓘ
    0.0
    ROAⓘ
    0.5%
    ROEⓘ
    0.6%
    Cash conversionⓘ
    —
    CapEx / revenueⓘ
    —
    SBC / revenueⓘ
    —
    Dilution ratioⓘ
    0.0%

    Revenue by segment

    Market share

    — missing data

    Business relationships

    — missing data

    Supply chain

    — missing data

    Peer comparison

    — missing data

    Market position

    Stress test

    — missing data

    Predictor forecast

    Options

    — missing data

    Short squeeze

    — missing data

    Earnings-call key lines

    — missing data

    Estimate revisions

    consensus EPS · 26-week trend
    — missing data

    Sell-side observations

    — missing data

    Themes

    — missing data

    ESG

    — missing data

    Risk factors

    Dilution riskLow
    Liquidity riskLow
    Filing-based flags
    • No immediate filing-based liquidity or dilution flags were detected.

    Benchmarks vs cohort

    Op Margin3,6 %Below median
    Net Margin2,8 %Below median
    ROE0,6 %Below median
    D/E0,00Above P75

    Corporate actions / M&A

    — missing data

    FX exposure

    — missing data

    Comparable transactions

    — missing data

    Derivatives & instruments

    — missing data

    Actions

    Ask Handelsavisen

    — missing data
    Data sources
    • Market data
    • Market data cache
    • Issuer disclosures
    • Public news
    • Earnings transcripts
    • Consensus estimates
    • ESG data
    How metrics are computed
    • Return On Equity
      net_income / total_equity
    • Price To Earnings
      market_price / (net_income / shares_outstanding_diluted)
    • Price To Book
      market_price / (adjusted_book_value / shares_outstanding_diluted)
    • Dilution Ratio
      (shares_outstanding_diluted - shares_outstanding_basic) / shares_outstanding_basic
    • Market Price
      input from market-data provider (delayed close or quote-shim mid)
    • Market Cap
      market_price * shares_outstanding_diluted
    Source documents
    • Hikari Business Form Co Ltd Market data — financials · 2026-05-26

    Ownership & reference

    Insider activity

    — missing data

    Short positioning

    — missing data

    Geographic breakdown

    — missing data
    Listings · one canonical issuer all listings resolve to the canonical
    3948.TCanonical
    Tokyo Stock Exchange · JPY

    Intel & risk

    peak dispatch · —
    OSINT findings
    Dilution riskLow
    Liquidity riskLow
    No immediate filing-based liquidity or dilution flags were detected.

    Evidence & claims

    From filings & derived data
    — missing data

    The Thread

    Everything we know, in order
    — missing data
    Sources filings · IR · transcripts · market data · tier hybrid · as of 2026-08-04 Market data · Issuer disclosures · Public news · Earnings transcripts · Consensus estimates · ESG data Premium coverage