| Valuation method | Value, ¥ | Upside, % |
|---|---|---|
| Artificial intelligence (AI) | 352.02 | 25 |
| Intrinsic value (DCF) | 110.40 | -61 |
| Graham-Dodd Method | 773.97 | 175 |
| Graham Formula | n/a |
Almetax Manufacturing Co., Ltd. (5928.T) is a Japanese company specializing in the development, manufacturing, and sale of aluminum building materials, electrical materials, and civil engineering products. Headquartered in Osaka, Japan, Almetax has been a key player in the construction materials sector since its founding in 1969. The company offers a diverse product portfolio, including decorative and functional windows, screen doors, skylights, entrances, and exterior solutions like handrails and balconies. Additionally, Almetax engages in the research and development of new materials and recycling technologies, positioning itself as an innovator in sustainable construction solutions. With a strong domestic presence, the company caters to Japan's industrial, environmental, and architectural needs. Its expertise in aluminum-based products makes it a critical supplier in Japan's construction and infrastructure sectors, contributing to energy-efficient and durable building solutions.
Almetax Manufacturing presents a niche investment opportunity in Japan's construction materials sector, with a focus on aluminum-based products. The company's low beta (0.32) suggests relative stability compared to broader market volatility. However, its modest net income (JPY 77.89 million) and diluted EPS (JPY 7.49) indicate limited profitability, though strong cash reserves (JPY 2.07 billion) and minimal debt (JPY 8.31 million) provide financial flexibility. The dividend yield (JPY 8 per share) may appeal to income-focused investors, but growth prospects are constrained by its domestic focus and the mature Japanese construction market. Investors should weigh its stable cash flow (JPY 302.83 million operating cash flow) against limited expansion opportunities outside Japan.
Almetax Manufacturing holds a specialized position in Japan's aluminum building materials market, leveraging its expertise in lightweight, corrosion-resistant solutions. Its competitive advantage lies in its integrated approach—combining R&D, manufacturing, and construction services—which allows for customized solutions in architectural and industrial applications. However, the company faces intense competition from larger conglomerates with broader product lines and international reach. Its focus on sustainability and recycling aligns with Japan's push for eco-friendly construction, but scalability remains a challenge due to its domestic orientation. While Almetax benefits from long-standing relationships in Japan's construction industry, its lack of global diversification limits growth potential compared to multinational peers. The company's niche focus on aluminum products differentiates it from generalist competitors, but it must continuously innovate to maintain relevance amid shifting construction trends and material preferences.