KAWASE COMPUTER SUPPLIES CO,LTD.
7851・Standard Market・Other Products
Business
Kawase Computer Supply operates two segments: Business Forms (integrated in-house planning, plate-making, printing, and processing of forms) and Information Processing (outsourced data editing, printing, and printing services, Mailing Services, and cloud business). Its main customers are companies in the finance, telecommunications, and mail-order sectors, as well as local governments and affiliated public organizations. The company has consolidated its production base at its Information Center in Sakura City, Chiba Prefecture, and its strength lies in an integrated production system under complete security, having obtained ISMS certification, the Privacy Mark, and ISO9001. Founded in 1955, the company is listed on the Standard Market of the Tokyo Stock Exchange and the Main Board of the Fukuoka Stock Exchange.
Business Model
In the Business Forms business, the company handles everything in-house from form design to platemaking, printing, and processing, achieving both cost control and quality assurance, while maintaining profitability through price revision negotiations with customers. In the Information Processing business, the core focus is outsourced Data Printing & Printing Outsourcing using high-speed inkjet printers and full-color on-demand machines, securing continuous orders through a BPO model that handles everything through to enclosing, sealing, and shipping.
Company Strengths
The company has consolidated all production facilities at its information center in Sakura City, Chiba Prefecture, and has obtained ISMS certification, the Privacy Mark, and ISO9001 certification. Its capability to handle everything from data editing to printing, bookbinding, enclosing/sealing, and shipping under complete security has become a differentiating factor versus competitors in winning orders from municipalities and financial institutions, where strict personal information management is required.
Segment profit for Information Processing improved significantly to ¥191 million (profit margin of 15.5%) in FY2026, up from ¥166 million (13.4%) in the previous fiscal year. Even as revenue declined slightly to ¥1,234 million, the company expanded profit by selectively taking on orders with favorable cost ratios, confirming a qualitative improvement in its earnings structure.
The equity ratio at the end of FY2026 stood at 72.4%, exceeding the company's own target of 70%, while the current ratio of 235.8% also surpassed the target of 200%. The company held cash and cash equivalents of ¥1,126 million, and interest-bearing debt decreased by ¥109 million year on year to ¥497 million. This near debt-free financial base supports the stability of business continuity.
ENVALITH's Perspective
Performance Trend
Revenue had been on a recovery trend, rising from ¥2,502 million in FY2022 to ¥2,831 million in FY2025, but fell back to ¥2,797 million in FY2026 (down 1.2% year on year). Operating profit dropped sharply by 38.3%, from ¥79 million in FY2025 to ¥48 million in FY2026. On the external front, persistently high raw material and utility costs pushed up manufacturing costs, while rising personnel expenses amid an improving employment environment increased SG&A expenses. The improvement in earnings from Information Processing (segment profit +¥25 million) was offset by an increase in company-wide costs (+¥31 million). Operating profit is forecast to be zero for FY2027 (ending March 2027), and a cautious view is warranted until a bottoming-out in earnings can be confirmed.
Growth Strategy
Management resource allocation weighted toward Information Processing and transition toward the vision of becoming a cross-media company
Continued strengthening of sales activities toward local governments and affiliated organizations to acquire information processing projects that fully leverage the company's own information equipment. Also promoting new business development targeting system integrators with the aim of acquiring BPO projects and recurring projects. In FY2026 (ending March 2026), efforts to acquire new projects were made in Information Processing, but revenue declined only slightly, down ¥7 million year on year.
In Information Processing, implementing a selective strategy that prioritizes orders for projects with favorable cost ratios. In FY2026 (ending March 2026), the segment profit margin improved from 13.4% to 15.5%, successfully increasing profit by ¥25 million even as revenue declined. The company plans to continue this approach in FY2027 (ending March 2027).
In response to rising raw material and utility costs, continuing price revision activities with customers. In FY2026 (ending March 2026), the gross profit margin improved slightly to 26.3% (from 26.0% in the previous period), but this was insufficient to absorb the increase in fixed costs. The company plans to continue price revision activities in FY2027 (ending March 2027), though there are concerns about the impact on order volume.
In FY2026 (ending March 2026), capital investment of ¥58 million was made in the Information Processing segment (a significant increase from ¥7 million in the previous period). The renewal and expansion of production equipment, including high-speed inkjet printers, aims to improve the ability to respond to expanding orders and improve production efficiency. Depreciation expense was ¥107 million, up ¥6 million year on year.
At the Board of Directors meeting on May 14, 2026, a resolution was passed to acquire treasury shares (up to 225,000 shares, ¥50 million), with the aim of enabling flexible capital policy. Market purchases on the Tokyo Stock Exchange are planned to be carried out from May 15 to June 30, 2026. The dividend for FY2026 (ending March 2026) was ¥3 per share (a decrease from ¥5 in the previous period), with a payout ratio of 20.9%.
Last updated: July 19, 2026