K's Holdings "Revising forecasts: FY3/27 profit to grow sharply due to..."

研报英文原文证据摘录

K's Holdings "Revising forecasts: FY3/27 profit to grow sharply due to..."

Global Research

12 May 2026ab

K's Holdings Equities

JapanRevising forecasts: FY3/27 profit to grow sharply

due to extraordinary demand for air conditioners Retailers, Specialty

12-month rating Neutral

12m price target ¥1,900.0Action: earnings update ahead of Q4 results

Prior : ¥1,750

We provide an earnings update following Q4 results. We are revising our OP forecast,

mainly for FY3/27, to factor in stronger extraordinary demand for air conditioners than Price (12 May 2026) ¥1,913

assumed due to the revision to air conditioner energy efficiency standards. We forecast RIC: 8282.T BBG: 8282 JP

stronger FY3/27 OP than the company plan. Reflecting the changes in our earnings

forecast and progress of the fiscal year, we are changing our price target from ¥1,750 to Trading data and key metrics

¥1,900. Our rating is Neutral. 52-wk range ¥1,944-1,345

Market cap. ¥296b/US$1.88b

Investment overview Shares o/s 155m (ORD)

K’s Holdings is a major consumer electronics retailer. From a medium- to long-term Free float 79%

perspective, the domestic home appliances market has been stable, supported by Avg. daily volume ('000) 675

replacement demand. In addition, major companies are dominating the market, and, Avg. daily value (m) ¥1,171.4

reflecting the government's 2016 revision of Guidelines Concerning Distribution Common s/h equity (03/27E) ¥257b

Systems and Business Practices Under the Antimonopoly Act, price competition is no P/BV (03/27E) 1.1x

longer excessive. The company is generating earnings steadily by focusing on consumer Net debt to EBITDA (03/27E) 0.7x

electronics and appliances sales, on low-cost operations, and increased sales of high

value-added products leveraging its customer service strengths.