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Stock Analysis & ValuationMaruken Lease Co., Ltd. (9763.T)

Professional Stock Screener
Previous Close
¥4,600.00
Sector Valuation Confidence Level
High
Valuation methodValue, ¥Upside, %
Artificial intelligence (AI)4065.84-12
Intrinsic value (DCF)2081.82-55
Graham-Dodd Method5019.219
Graham Formula5691.1824

Strategic Investment Analysis

Company Overview

Marubeni Construction Material Lease Co., Ltd. is a specialized Japanese company providing leasing, sales, repair, and fabrication services for temporary steel construction materials. Headquartered in Tokyo, the company serves Japan's construction industry with essential materials such as sheet piles, H-beams, steel supports, decks, plates, and earth-retaining walls for foundation projects. Additionally, it offers installation and extraction of piles, as well as earth retainment and underground continuous wall works. Founded in 1968 and formerly known as Marubeni Steel Construction Material Lease Co., Ltd., the company plays a critical role in Japan's infrastructure development. Operating in the Rental & Leasing Services sector under Industrials, Marubeni Construction Material Lease Co., Ltd. leverages its niche expertise to support large-scale construction projects, ensuring efficiency and reliability in material supply and installation.

Investment Summary

Marubeni Construction Material Lease Co., Ltd. presents a stable investment opportunity with a market capitalization of approximately ¥9.65 billion and a low beta of 0.217, indicating lower volatility compared to the broader market. The company reported revenue of ¥21.33 billion and net income of ¥1.16 billion for FY 2024, with a diluted EPS of ¥365.87. Despite modest operating cash flow of ¥335 million, the company maintains a solid dividend payout of ¥130 per share. However, its high total debt of ¥5.3 billion relative to cash reserves of ¥443 million could pose liquidity risks. Investors should weigh the company's niche market position and steady demand in Japan's construction sector against its financial leverage.

Competitive Analysis

Marubeni Construction Material Lease Co., Ltd. holds a competitive edge in Japan's construction material leasing market due to its specialized focus on steel materials and integrated services, including fabrication, repair, and installation. This vertical integration allows the company to offer comprehensive solutions, enhancing customer retention and operational efficiency. However, its reliance on the domestic market limits growth potential compared to global competitors. The company's low beta suggests resilience to market fluctuations, but its high debt-to-cash ratio may constrain financial flexibility. Competitors with broader geographic reach or diversified service offerings could challenge Marubeni's market share, particularly if Japan's construction sector faces downturns. The company's strength lies in its established reputation and long-term client relationships, but innovation and expansion into adjacent markets may be necessary to sustain growth.

Major Competitors

  • Sata Construction Co., Ltd. (1826.T): Sata Construction Co., Ltd. operates in Japan's construction and leasing sector, offering similar services but with a broader portfolio including civil engineering. Its larger scale provides competitive pricing, but Marubeni's specialization in steel materials may offer superior expertise in niche projects.
  • Nishimatsu Construction Co., Ltd. (1820.T): Nishimatsu Construction is a major player in Japan's construction industry with extensive resources and diversified operations. While it competes in material leasing, its focus on large-scale projects may overshadow Marubeni's niche services, though Nishimatsu's broader scope could dilute its specialization advantages.
  • Kajima Corporation (1812.T): Kajima Corporation is a global construction giant with significant market share in Japan. Its extensive infrastructure projects and financial strength pose a competitive threat, but Marubeni's dedicated steel material leasing services may appeal to clients seeking specialized, cost-effective solutions.
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