| Valuation method | Value, ¥ | Upside, % |
|---|---|---|
| Artificial intelligence (AI) | 1476.03 | 23 |
| Intrinsic value (DCF) | 444.61 | -63 |
| Graham-Dodd Method | 1789.39 | 49 |
| Graham Formula | 765.52 | -36 |
JANOME Corporation (6445.T) is a leading Japanese manufacturer of sewing machines and related products, with a rich history dating back to 1921. Headquartered in Hachioji, Japan, the company operates in the consumer cyclical sector, specializing in household and industrial sewing machines, robotics (including SCARA and Cartesian robots), and 24-hour bath products. JANOME also distributes school education materials and maintains a retail presence with 79 sewing machine stores across Japan. The company rebranded from Janome Sewing Machine Co., Ltd. to JANOME Corporation in 2021, reflecting its diversified product portfolio beyond traditional sewing machines. With a market capitalization of approximately ¥20.98 billion, JANOME serves both domestic and international markets, leveraging its expertise in precision engineering and automation. The company’s industrial equipment division, including servo presses and robotics, positions it as a niche player in Japan’s manufacturing automation space. JANOME’s strong brand recognition in household sewing machines and its expansion into industrial applications make it a unique player in the furnishings, fixtures, and appliances industry.
JANOME Corporation presents a mixed investment profile. On the positive side, the company maintains a stable revenue base (¥36.48 billion in FY 2024) with modest profitability (net income of ¥1.13 billion) and a healthy dividend yield (¥40 per share). Its strong cash position (¥7.51 billion) and manageable debt (¥3.88 billion) provide financial flexibility. However, the company operates in a mature market for household sewing machines, with limited growth prospects. Its expansion into industrial robotics and automation could offer upside but faces intense competition from larger global players. The stock’s beta of 1.013 suggests market-average volatility. Investors may find value in JANOME’s dividend stability and niche industrial segment, but growth-oriented investors might seek higher potential elsewhere.
JANOME Corporation competes in two distinct markets: consumer sewing machines and industrial automation. In the household sewing machine segment, it faces competition from global brands like Brother Industries and Singer, as well as low-cost Asian manufacturers. JANOME’s competitive advantage lies in its strong brand reputation in Japan, direct retail presence (79 stores), and a legacy of precision engineering. However, the global sewing machine market is declining due to reduced demand in developed economies, pressuring margins. In industrial automation, JANOME’s servo presses and robotics (SCARA, Cartesian) compete with giants like Fanuc and Yaskawa Electric. Here, JANOME’s smaller scale limits its R&D budget and global distribution compared to these leaders, though it may carve out niches in specialized Japanese manufacturing applications. The company’s dual focus provides diversification but also dilutes its ability to dominate either market. Its competitive positioning is strongest domestically, where its brand and retail network provide a moat, but international growth remains challenging against entrenched competitors.