KEIWA Incorporated logo

KEIWA Incorporated

4251.T

JPXTechnologyHardware, Equipment & Parts

Latest quote

¥1,181

−¥1.00 · -0.08%

Aug 24, 3:30 PM JST

4251.T company overview

Regular session · JST · Market data may be delayed.

Company profile

Company website

Based in Tokyo, Japan, KEIWA Incorporated, founded in 1948, is a key manufacturer and supplier of specialized optical sheets and advanced functional materials. The company, which operated as KEIWA Commerce and Industry Co., Ltd. until its name change in 1999, provides a comprehensive array of products. This includes light diffusion sheets vital for the backlight units in smartphone liquid crystal displays, as well as components for bespoke optical films, such as protective layers for light-collecting films. KEIWA also develops sophisticated functional films and sheets utilized for display surface protection in optical systems and numerous other applications. Beyond its optical segment, the company supplies industrial packaging solutions, specialized processing papers, materials for clean energy technologies, and a variety of other industrial goods, particularly for the construction and agricultural sectors.

Industry
Hardware, Equipment & Parts
Sector
Technology
Headquarters
JP
CEO
Keiichi Osamura
Listed since
Oct 30, 2019
Employees
409

Market position

Day range

Current ¥1,181

52-week range

Current ¥1,181

Open
¥1,188
Previous close
¥1,182
Volume
97.4K
1.2× average
Average volume
81.41K
Average daily volume
Market cap
21.84B JPY
Beta
0.55
Market reference 1
50-day average
¥1,225.4
-3.62% below average
200-day average
¥1,251.17
-5.61% below average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

P/E (TTM)
7.32×
P/B (TTM)
0.88×
P/S (TTM)
1.04×
Dividend yield
3.39%

Profitability & efficiency

Gross margin
41.71%
Operating margin
18.67%
Net margin
14.15%

Financial health

Debt / equity
0.07×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends52%37%22%7%Gross margin, FY2021: 39.75%Gross margin, FY2022: 48.30%Gross margin, FY2023: 41.19%Gross margin, FY2024: 46.78%Gross margin, FY2025: 42.89%Operating margin, FY2021: 17.29%Operating margin, FY2022: 26.39%Operating margin, FY2023: 13.98%Operating margin, FY2024: 22.43%Operating margin, FY2025: 20.94%Net margin, FY2021: 14.17%Net margin, FY2022: 23.03%Net margin, FY2023: 11.29%Net margin, FY2024: 13.21%Net margin, FY2025: 11.08%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 39.75%. Gross margin FY2022 48.30%. Gross margin FY2023 41.19%. Gross margin FY2024 46.78%. Gross margin FY2025 42.89%. Operating margin FY2021 17.29%. Operating margin FY2022 26.39%. Operating margin FY2023 13.98%. Operating margin FY2024 22.43%. Operating margin FY2025 20.94%. Net margin FY2021 14.17%. Net margin FY2022 23.03%. Net margin FY2023 11.29%. Net margin FY2024 13.21%. Net margin FY2025 11.08%.

Income trends

Revenue

20.47B JPY-3.11%

Operating income

4.29B JPY-9.56%

Net income

2.27B JPY-18.70%
Income trends across reported periods23.05B JPY15.39B JPY7.73B JPY68.36M JPYRevenue, FY2021: 18.13B JPYRevenue, FY2022: 21.1B JPYRevenue, FY2023: 17.57B JPYRevenue, FY2024: 21.13B JPYRevenue, FY2025: 20.47B JPYOperating income, FY2021: 3.14B JPYOperating income, FY2022: 5.57B JPYOperating income, FY2023: 2.46B JPYOperating income, FY2024: 4.74B JPYOperating income, FY2025: 4.29B JPYNet income, FY2021: 2.57B JPYNet income, FY2022: 4.86B JPYNet income, FY2023: 1.98B JPYNet income, FY2024: 2.79B JPYNet income, FY2025: 2.27B JPYFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 18.13B JPY. Revenue FY2022 21.1B JPY. Revenue FY2023 17.57B JPY. Revenue FY2024 21.13B JPY. Revenue FY2025 20.47B JPY. Operating income FY2021 3.14B JPY. Operating income FY2022 5.57B JPY. Operating income FY2023 2.46B JPY. Operating income FY2024 4.74B JPY. Operating income FY2025 4.29B JPY. Net income FY2021 2.57B JPY. Net income FY2022 4.86B JPY. Net income FY2023 1.98B JPY. Net income FY2024 2.79B JPY. Net income FY2025 2.27B JPY.
Metric (JPY)FY2025FY2024FY2023FY2022FY2021
Revenue20.47B JPY21.13B JPY17.57B JPY21.1B JPY18.13B JPY
Cost of goods sold11.69B JPY11.25B JPY10.33B JPY10.91B JPY10.92B JPY
Gross profit8.78B JPY9.88B JPY7.24B JPY10.19B JPY7.21B JPY
Research and development1.56B JPY1.49B JPY1.16B JPY
Selling, general, and administrative4.49B JPY3.32B JPY3.13B JPY3.22B JPY2.8B JPY
Operating expenses4.49B JPY5.14B JPY4.78B JPY4.62B JPY4.07B JPY
Interest income22.92M JPY32.26M JPY
Interest expense22.94M JPY27.85M JPY33.46M JPY44.38M JPY49.46M JPY
Depreciation and amortization2.1B JPY1.73B JPY1.59B JPY1.52B JPY1.35B JPY
Operating income4.29B JPY4.74B JPY2.46B JPY5.57B JPY3.14B JPY
Net income2.27B JPY2.79B JPY1.98B JPY4.86B JPY2.57B JPY

Company facts updated Aug 24, 2026.

Earnings

Latest EPS result
28.98

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Estimates unavailable
Quarterly EPS actual values compared with estimates92.9351.9510.98-30Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Q4 2024, reported Nov 14, 2024: actual -21.52, estimate —, surprise —, Comparison unavailable. Q1 2025, reported Feb 14, 2025: actual 84.45, estimate —, surprise —, Comparison unavailable. Q2 2025, reported May 14, 2025: actual 42.47, estimate —, surprise —, Comparison unavailable. Q3 2025, reported Aug 14, 2025: actual -5.33, estimate —, surprise —, Comparison unavailable. Q4 2025, reported Nov 14, 2025: actual 45.11, estimate —, surprise —, Comparison unavailable. Q1 2026, reported Feb 13, 2026: actual 39.83, estimate —, surprise —, Comparison unavailable. Q2 2026, reported May 14, 2026: actual 47.23, estimate —, surprise —, Comparison unavailable. Q3 2026, reported Aug 14, 2026: actual 28.98, estimate —, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates6.52B5.77B5.01B4.25BQ1 '25BeatQ2 '25MissQ3 '25MissQ4 '25MissQ1 '26BeatQ2 '26MissQ3 '26MissQ4 '26Estimate
Q1 2025, reported Feb 14, 2025: actual 6.27B JPY, estimate 4.5B JPY, surprise +39.42%, Beat. Q2 2025, reported May 14, 2025: actual 4.98B JPY, estimate 5.5B JPY, surprise -9.40%, Miss. Q3 2025, reported Aug 14, 2025: actual 4.93B JPY, estimate 5.52B JPY, surprise -10.64%, Miss. Q4 2025, reported Nov 14, 2025: actual 5.15B JPY, estimate 5.5B JPY, surprise -6.40%, Miss. Q1 2026, reported Feb 13, 2026: actual 5.41B JPY, estimate 5.14B JPY, surprise +5.31%, Beat. Q2 2026, reported May 14, 2026: actual 5.24B JPY, estimate 5.4B JPY, surprise -2.93%, Miss. Q3 2026, reported Aug 14, 2026: actual 5.3B JPY, estimate 5.51B JPY, surprise -3.87%, Miss. Q4 2026, reported Nov 6, 2026: actual —, estimate 5.65B JPY, surprise —, Comparison unavailable.

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