KAWAI MUSICAL INSTRUMENTS MANUFACTURING CO.,LTD.

7952・Prime Market・Other Products

7952・Prime Market・Other Products

KAWAI MUSICAL INSTRUMENTS MANUFACTURING CO.,LTD.7952

Reference Indicators

Market Cap

297¥100M

P/E (Forecast)

17.7x

P/B

0.6x

Dividend Yield (Forecast)

2.88%

ROE

2.5%

EV/EBITDA

14.1x

Financial Summary

Unit: ¥M

Item	2022Mar 2022	2023Mar 2023	2024Mar 2024	2025Mar 2025	2026Mar 2026
Net Sales	85,703	87,771	80,192	72,918	72,049
Cost of Sales	62,220	64,956	59,481	54,621	53,307
Gross Profit	23,482	22,815	20,711	18,296	18,742
SG&A Expenses	16,786	17,769	17,456	17,980	18,629
Operating Income	6,696	5,045	3,255	316	113
Non-operating Income	800	818	1,128	553	1,196
Non-operating Expenses	191	225	181	394	356
Ordinary Income	7,304	5,639	4,201	474	952
Extraordinary Income	32	0	49	8	730
Extraordinary Losses	23	27	29	134	68
Pre-tax Income	7,314	5,612	4,221	349	1,614
Income Taxes	2,228	1,923	1,434	-59	472
Net Income	5,046	3,672	2,782	405	1,141
EBITDA	8,223	6,695	4,857	2,149	2,154
Gross Margin	27.4%	26.0%	25.8%	25.1%	26.0%
Operating Margin	7.8%	5.7%	4.1%	0.4%	0.2%
ROA	7.4%	5.2%	3.8%	0.5%	1.4%
ROE	16.5%	10.3%	6.8%	0.9%	2.5%

Segment Performance

Unit: ¥M

2026

Segment	Net Sales	Operating Income	Operating Margin
楽器教育	56,492	-852	-1.5%
素材加工	10,343	756	7.3%
その他事業	5,213	271	5.2%

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