Cash flow Kokusai Electric Corporation

Equities

6525

JP3293330001

Semiconductor Equipment & Testing

Delayed Japan Exchange Other stock markets 07:37:53 18/02/2026 am IST			5-day change	1st Jan Change
5,894.00 ^JPY	-0.97%		-7.51%	+7.28%

13/02	Jefferies Adjusts Kokusai Electric's Price Target to 7,500 Yen From 7,000 Yen, Keeps at Buy	MT
12/02	Kokusai Electric Corporation, Q3 2026 Earnings Call, Feb 12, 2026

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Published financial data: KOKUSAI ELECTRIC CORPORATION

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2022	2023	2024	2025
Revenues	25TCr	25TCr	18TCr	24TCr
Total Revenues	25TCr	25TCr	18TCr	24TCr
Cost of Goods Sold, Total	14TCr	14TCr	11TCr	14TCr
Gross Profit	11TCr	10TCr	7.5TCr	10TCr
Selling General & Admin Expenses, Total	3.54TCr	4.34TCr	2.48TCr	2.81TCr
R&D Expenses	-	-	1.27TCr	1.56TCr
Depreciation & Amortization - (IS)	-	-	696.5Cr	682.2Cr
Other Operating Expenses	100.4Cr	129.2Cr	-34Cr	-40L
Other Operating Expenses, Total	3.64TCr	4.47TCr	4.41TCr	5.05TCr
Operating Income	7.07TCr	5.61TCr	3.09TCr	5.12TCr
Interest Expense, Total	-160.6Cr	-107.8Cr	-85Cr	-110Cr
Interest And Investment Income	22Cr	91Cr	29Cr	22Cr
Net Interest Expenses	-138.8Cr	-17Cr	-56Cr	-88Cr
Currency Exchange Gains (Loss)	-	-	-44Cr	-29Cr
Other Non Operating Income (Expenses)	-	-	23Cr	84Cr
EBT, Excl. Unusual Items	6.93TCr	5.59TCr	3.01TCr	5.09TCr
Gain (Loss) On Sale Of Assets	-	-	-9Cr	-9.1Cr
Asset Writedown	-	-	5Cr	2.5Cr
Other Unusual Items	-	-	-33Cr	-4.6Cr
EBT, Incl. Unusual Items	6.93TCr	5.59TCr	2.98TCr	5.08TCr
Income Tax Expense	1.79TCr	1.56TCr	738.3Cr	1.48TCr
Earnings From Continuing Operations	5.13TCr	4.03TCr	2.24TCr	3.6TCr
Net Income to Company	5.13TCr	4.03TCr	2.24TCr	3.6TCr
Net Income - (IS)	5.13TCr	4.03TCr	2.24TCr	3.6TCr
Net Income to Common Incl Extra Items	5.13TCr	4.03TCr	2.24TCr	3.6TCr
Net Income to Common Excl. Extra Items	5.13TCr	4.03TCr	2.24TCr	3.6TCr
Per Share Items
Net EPS - Basic	222.83	174.93	96.82	154.6
Basic EPS - Continuing Operations	222.83	174.93	96.82	154.6
Basic Weighted Average Shares Outstanding	23Cr	23Cr	23Cr	23Cr
Net EPS - Diluted	215.05	168.84	93.7	152.54
Diluted EPS - Continuing Operations	215.05	168.84	93.7	152.54
Diluted Weighted Average Shares Outstanding	24Cr	24Cr	24Cr	24Cr
Normalized Basic EPS	187.89	151.62	81.48	136.6
Normalized Diluted EPS	181.33	146.34	78.85	134.78
Dividend Per Share	-	-	11	37
Payout Ratio	-	-	-	18.64
American Depositary Receipts Ratio (ADR)	0.5	0.5	0.5	0.5
Supplemental Items
EBITDA	-	-	4.18TCr	6.39TCr
EBITA	7.07TCr	5.61TCr	3.09TCr	5.12TCr
EBIT	7.07TCr	5.61TCr	3.09TCr	5.12TCr
Effective Tax Rate - (Ratio)	25.88	27.89	24.81	29.11
Normalized Net Income	4.33TCr	3.49TCr	1.88TCr	3.18TCr
Non-Cash Pension Expense	-	-	66Cr	-3Cr
Supplemental Operating Expense Items
Advertising Expense	-	-	66Cr	73Cr
Selling and Marketing Expenses	-	-	100.1Cr	97Cr
Research And Development Expense From Footnotes	-	-	1.27TCr	1.56TCr

Fiscal Period: March	2022	2023	2024	2025
Assets
Cash And Equivalents	11TCr	11TCr	9.26TCr	4.48TCr
Total Cash And Short Term Investments	11TCr	11TCr	9.26TCr	4.48TCr
Accounts Receivable, Total	4.6TCr	4.75TCr	3.2TCr	4.28TCr
Total Receivables	4.6TCr	4.75TCr	3.2TCr	4.28TCr
Inventory	5.16TCr	6.72TCr	8.77TCr	8.32TCr
Other Current Assets, Total	48Cr	191.7Cr	261.9Cr	206.2Cr
Total Current Assets	21TCr	22TCr	21TCr	17TCr
Net Property Plant And Equipment	1.72TCr	2.05TCr	3.69TCr	4.9TCr
Long-term Investments	351.6Cr	415Cr	613.1Cr	475.6Cr
Goodwill	5.91TCr	5.91TCr	5.91TCr	5.91TCr
Other Intangibles, Total	6.9TCr	6.3TCr	5.7TCr	5.41TCr
Deferred Tax Assets Long-Term	122Cr	94Cr	140.3Cr	170.3Cr
Total Assets	36TCr	37TCr	38TCr	34TCr
Liabilities
Accounts Payable, Total	4.99TCr	4.18TCr	3.67TCr	2.36TCr
Accrued Expenses, Total	981.1Cr	1.1TCr	1.02TCr	1.25TCr
Short-term Borrowings	450Cr	600Cr	-	-
Current Portion of Long-Term Debt	-	-	750Cr	1.13TCr
Current Portion of Leases	47Cr	60Cr	52Cr	58Cr
Current Income Taxes Payable	1.28TCr	738.7Cr	533.8Cr	962.2Cr
Other Current Liabilities	2.11TCr	3.14TCr	2.73TCr	2.5TCr
Total Current Liabilities	9.85TCr	9.82TCr	8.75TCr	8.27TCr
Long-Term Debt	12TCr	9.15TCr	8.4TCr	4.69TCr
Long-Term Leases	72Cr	111Cr	100Cr	139.3Cr
Pension & Other Post Retirement Benefits	319.5Cr	303.2Cr	315.3Cr	292.7Cr
Deferred Tax Liability Non Current	1.69TCr	1.54TCr	1.21TCr	1.12TCr
Other Non Current Liabilities	17Cr	17Cr	21Cr	30Cr
Total Liabilities	24TCr	21TCr	19TCr	15TCr
Common Stock, Total	1TCr	1TCr	1.13TCr	1.41TCr
Additional Paid In Capital	2.84TCr	2.83TCr	2.76TCr	2.51TCr
Retained Earnings	7.92TCr	12TCr	14TCr	17TCr
Treasury Stock	-	-	-	-1.8TCr
Comprehensive Income and Other	192.5Cr	275.2Cr	606Cr	442.2Cr
Total Common Equity	12TCr	16TCr	19TCr	20TCr
Total Equity	12TCr	16TCr	19TCr	20TCr
Total Liabilities And Equity	36TCr	37TCr	38TCr	34TCr
Supplemental Items
ECS Total Shares Outstanding on Filing Date	23Cr	23Cr	24Cr	23Cr
ECS Total Common Shares Outstanding	23Cr	23Cr	23Cr	23Cr
Book Value / Share	518.75	698.26	804.49	842.12
Tangible Book Value	-859.5Cr	3.88TCr	7.13TCr	8.3TCr
Tangible Book Value Per Share	-37.3	168.61	306.22	356.15
Total Debt	12TCr	9.92TCr	9.3TCr	6.02TCr
Net Debt	1.48TCr	-684.7Cr	40Cr	1.54TCr
Debt Equivalent of Unfunded Proj. Benefit Obligation	-	95Cr	-110.2Cr	-250.2Cr
Inventories - Raw Materials, Total	-	-	3.53TCr	3.28TCr
Inventories - Work In Process, Total	-	-	2.5TCr	2.46TCr
Inventories - Finished Goods, Total	-	-	2.74TCr	2.58TCr
Full Time Employees	-	2.43T	2.48T	2.54T
Accumulated Allowance for Doubtful Accounts (Supple)	-	-	2.9Cr	5.4Cr
Order Backlog	-	18TCr	15TCr	14TCr

Fiscal Period: March	2022	2023	2024	2025
Net Income	-	-	2.24TCr	3.6TCr
Depreciation & Amortization - CF	-	-	1.09TCr	1.26TCr
Depreciation & Amortization, Total	-	-	1.09TCr	1.26TCr
Other Operating Activities, Total	-	-	-1.1TCr	-1.08TCr
Change In Accounts Receivable	-	-	1.95TCr	-1.16TCr
Change In Inventories	-	-	-1.91TCr	329.9Cr
Change In Accounts Payable	-	-	-1.56TCr	-251.2Cr
Change in Other Net Operating Assets	-	-	-419.3Cr	1.14TCr
Cash from Operations	-	-	294.2Cr	3.85TCr
Capital Expenditure	-	-	-1.15TCr	-2.55TCr
Sale (Purchase) of Intangible assets	-	-	-44Cr	-219Cr
Other Investing Activities, Total	-	-	2.5Cr	-3.4Cr
Cash from Investing	-	-	-1.2TCr	-2.77TCr
Long-Term Debt Issued, Total	-	-	-	6TCr
Total Debt Issued	-	-	-	6TCr
Long-Term Debt Repaid, Total	-	-	-600Cr	-9.15TCr
Total Debt Repaid	-	-	-600Cr	-9.15TCr
Repurchase of Common Stock	-	-	-	-1.85TCr
Common Dividends Paid	-	-	-	-671.1Cr
Common & Preferred Stock Dividends Paid	-	-	-	-671.1Cr
Other Financing Activities, Total	-	-	-31Cr	-137.7Cr
Cash from Financing	-	-	-631.2Cr	-5.81TCr
Foreign Exchange Rate Adjustments	-	-	188.6Cr	-53Cr
Net Change in Cash	-	-	-1.34TCr	-4.79TCr
Supplemental Items
Cash Interest Paid	-	-	85Cr	110.2Cr
Cash Income Tax Paid (Refund)	-	-	1.14TCr	1.04TCr
Levered Free Cash Flow	-	-	-1.72Cr	170.06Cr
Unlevered Free Cash Flow	-	-	52Cr	238.81Cr
Change In Net Working Capital	-	2.05TCr	1.78TCr	1.46TCr
Net Debt Issued / Repaid	-	-	-600Cr	-3.15TCr

Fiscal Period: March	2022	2023	2024	2025
Profitability
Return on Assets	-	9.64	5.18	8.93
Return on Total Capital	-	13.94	7.14	11.93
Return On Equity %	-	28.75	12.85	18.77
Return on Common Equity	-	28.75	12.85	18.77
Margin Analysis
Gross Profit Margin %	43.63	41.02	41.45	42.58
SG&A Margin	14.43	17.68	13.69	11.76
EBITDA Margin %	-	-	23.13	26.72
EBITA Margin %	28.79	22.82	17.08	21.44
EBIT Margin %	28.79	22.82	17.08	21.44
Income From Continuing Operations Margin %	20.92	16.4	12.37	15.07
Net Income Margin %	20.92	16.4	12.37	15.07
Net Avail. For Common Margin %	20.92	16.4	12.37	15.07
Normalized Net Income Margin	17.64	14.22	10.41	13.31
Levered Free Cash Flow Margin	-	-	-0.01	0.71
Unlevered Free Cash Flow Margin	-	-	0.28	1
Asset Turnover
Asset Turnover	-	0.68	0.49	0.67
Fixed Assets Turnover	-	13.04	6.3	5.56
Receivables Turnover (Average Receivables)	-	5.26	4.55	6.39
Inventory Turnover (Average Inventory)	-	2.44	1.37	1.61
Short Term Liquidity
Current Ratio	2.1	2.27	2.45	2.09
Quick Ratio	1.57	1.56	1.42	1.06
Operating Cash Flow to Current Liabilities	-	-	0.03	0.47
Days Sales Outstanding (Average Receivables)	-	69.41	80.42	57.15
Days Outstanding Inventory (Average Inventory)	-	149.67	267.71	227.32
Average Days Payable Outstanding	-	104.28	113.63	82.89
Cash Conversion Cycle (Average Days)	-	114.79	234.5	201.59
Long Term Solvency
Total Debt/Equity	103.07	61.66	49.64	30.68
Total Debt / Total Capital	50.76	38.14	33.17	23.48
LT Debt/Equity	98.92	57.56	45.36	24.6
Long-Term Debt / Total Capital	48.71	35.61	30.31	18.82
Total Liabilities / Total Assets	66.48	56.55	50.09	42.56
EBIT / Interest Expense	43.99	52.01	36.26	46.57
EBITDA / Interest Expense	-	-	49.1	58.05
(EBITDA - Capex) / Interest Expense	-	-	35.56	34.88
Total Debt / EBITDA	-	-	2.22	0.94
Net Debt / EBITDA	-	-	0.01	0.24
Total Debt / (EBITDA - Capex)	-	-	3.07	1.57
Net Debt / (EBITDA - Capex)	-	-	0.01	0.4
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-	0.12	-26.41	32.13
Gross Profit, 1 Yr. Growth %	-	-5.85	-25.63	35.72
EBITDA, 1 Yr. Growth %	-	-	-	52.63
EBITA, 1 Yr. Growth %	-	-20.65	-44.9	65.84
EBIT, 1 Yr. Growth %	-	-20.65	-44.9	65.84
Earnings From Cont. Operations, 1 Yr. Growth %	-	-21.49	-44.49	60.92
Net Income, 1 Yr. Growth %	-	-21.49	-44.49	60.92
Normalized Net Income, 1 Yr. Growth %	-	-19.3	-46.1	68.96
Diluted EPS Before Extra, 1 Yr. Growth %	-	-21.49	-44.5	62.8
Accounts Receivable, 1 Yr. Growth %	-	3.27	-32.61	33.88
Inventory, 1 Yr. Growth %	-	30.1	30.48	-5.11
Net Property, Plant and Equip., 1 Yr. Growth %	-	19.26	80.18	32.69
Total Assets, 1 Yr. Growth %	-	3.85	1.4	-9.04
Tangible Book Value, 1 Yr. Growth %	-	-551.98	83.61	16.31
Common Equity, 1 Yr. Growth %	-	34.61	16.48	4.69
Cash From Operations, 1 Yr. Growth %	-	-	-	1.21T
Capital Expenditures, 1 Yr. Growth %	-	-	-	120.93
Levered Free Cash Flow, 1 Yr. Growth %	-	-	-	-9.96T
Unlevered Free Cash Flow, 1 Yr. Growth %	-	-	-	363.49
Dividend Per Share, 1 Yr. Growth %	-	-	-	236.36
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-	-	-14.16	-1.39
Gross Profit, 2 Yr. CAGR %	-	-	-16.32	0.46
EBITA, 2 Yr. CAGR %	-	-	-33.88	-4.41
EBIT, 2 Yr. CAGR %	-	-	-33.88	-4.41
Earnings From Cont. Operations, 2 Yr. CAGR %	-	-	-33.98	-5.49
Net Income, 2 Yr. CAGR %	-	-	-33.98	-5.49
Normalized Net Income, 2 Yr. CAGR %	-	-	-34.05	-4.57
Diluted EPS Before Extra, 2 Yr. CAGR %	-	-	-33.99	-4.95
Accounts Receivable, 2 Yr. CAGR %	-	-	-16.58	-5.01
Inventory, 2 Yr. CAGR %	-	-	30.29	11.27
Net Property, Plant and Equip., 2 Yr. CAGR %	-	-	46.59	54.63
Total Assets, 2 Yr. CAGR %	-	-	2.62	-3.96
Tangible Book Value, 2 Yr. CAGR %	-	-	188.08	46.14
Common Equity, 2 Yr. CAGR %	-	-	25.21	10.42
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-	-	-	-0.89
Gross Profit, 3 Yr. CAGR %	-	-	-	-1.69
EBITA, 3 Yr. CAGR %	-	-	-	-10.16
EBIT, 3 Yr. CAGR %	-	-	-	-10.16
Earnings From Cont. Operations, 3 Yr. CAGR %	-	-	-	-11.15
Net Income, 3 Yr. CAGR %	-	-	-	-11.15
Normalized Net Income, 3 Yr. CAGR %	-	-	-	-9.76
Diluted EPS Before Extra, 3 Yr. CAGR %	-	-	-	-10.82
Accounts Receivable, 3 Yr. CAGR %	-	-	-	-2.33
Inventory, 3 Yr. CAGR %	-	-	-	17.23
Net Property, Plant and Equip., 3 Yr. CAGR %	-	-	-	41.8
Total Assets, 3 Yr. CAGR %	-	-	-	-1.42
Tangible Book Value, 3 Yr. CAGR %	-	-	-	112.92
Common Equity, 3 Yr. CAGR %	-	-	-	17.96