1. Japan Stocks

  2. •

    Industrials

  3. •

    Specialty Business Services
Hikari Business Form Co., Ltd.

Hikari Business Form Co., Ltd.

3948.T
Hikari Business Form Co., Ltd.JP flagTokyo Stock Exchange
1,117.00
JPY
+1.00
- -
6.00BMarket Cap
Hikari Business Form Co., Ltd.
3948.T
(Tokyo Stock Exchange)

Recent

price

1,117.00

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
1,179.29
1,165.63
1,127.39
1,251.33
1,210.73
1,207.34
1,209.23
1,228.18
1,190.15
1,281.72
1,255.03
1,662.62
2,083.73
1,752.11
1,417.22
1,415.13
1,463.65
Revenue per Share
17.29
9.75
24.15
45.71
27.71
27.88
27.3
-8.53
23.36
51.07
61.32
142.4
220.99
132.7
28.87
27.73
35.38
Basic EPS, GAAP
54.63
88.59
108.46
100.01
41.35
60.94
68.2
55.76
107.84
107.65
120.39
185.61
261.56
67.71
22.3
10.25
- -
Free Cash Flow per Basic Share
30.01
15
15
15
18
18
18
18
23
18
23
23.12
34.96
51.04
52.99
40.41
- -
Dividend per Share
976.17
971.59
981.08
1,011.95
1,021.84
1,059.47
255.36
228.87
275.41
308.48
329.5
431.44
530.35
499.09
372.16
367.16
1,523.56
Book Value per Share
1,045.17
1,034.28
1,071.51
1,141.41
1,143.33
1,175.13
1,184.65
1,188.57
1,168.24
1,203.2
1,237.45
1,368.36
1,543.61
1,667.8
1,668.76
1,709.76
1,672.34
Tangible Book Value per Share
6
6
6
6
6
6
6
6
6
6
6
6
6
6
6
5
6
Basic Weighted Avg Shares
6,833
6,749
6,525
7,241
7,005
6,983
6,993
7,101
6,881
7,411
7,257
9,565
11,995
9,876
7,915
7,744
8,167
Sales/Revenue/Turnover
8.56
5.15
7.09
8.31
5.6
5.44
3.09
2.76
2.44
5.62
6.14
12.54
16.41
12.86
2.26
2.61
3.37
Operating Margin (%)
334
312
292
285
316
321
314
357
338
354
324
312
295
240
364
195
- -
Depreciation Expense
100
56
140
265
160
161
158
-49
135
295
355
819
1,272
748
161
152
197
Net Income, GAAP
75.56
62.21
52.04
41.89
40.86
33.68
35.48
- -
41.17
35.93
23.08
32.19
31.68
32.08
39.3
41.39
37.03
Effective Tax Rate (%)
1.47
0.84
2.14
3.65
2.29
2.31
2.26
-0.69
1.96
3.98
4.89
8.56
10.61
7.57
2.04
1.96
2.42
Profit Margin (%)
-51
32
252
552
743
700
862
1,087
1,044
1,391
1,797
2,554
3,545
3,966
3,962
3,523
3,890
Working Capital
458
269
218
289
318
455
427
502
583
534
355
335
198
95
121
229
- -
LT Debt
6,196
6,127
6,310
6,711
6,700
6,881
6,923
6,936
6,803
7,012
7,202
7,907
8,919
9,427
9,336
9,372
9,353
Total Equity
1.83
1.76
3.07
4.74
3.1
3.3
1.82
- -
1.29
3.41
4.36
9.8
14.58
8.92
1.13
1.23
1.83
Return on Invested Capital (%)
1.46
0.91
2.21
4.16
2.54
2.49
3.68
- -
6.59
12.48
14.72
30.37
40
23.52
6.21
6.78
2.36
Return on Capital (%)
1.76
1
2.47
4.59
2.72
2.68
4.15
-3.52
9.27
17.49
19.22
37.35
45.97
25.5
6.59
7.42
2.32
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Dec'23
Mar'24
Jun'24
ST Debt
103
- -
- -
LT Borrowings
- -
- -
- -
LT Finance Leases
95
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
6
6
6
Market Capitalization
5,106
4,888
4,938

Working Capital

FRC

•

in mil. unless spec.
Dec'23
Mar'24
Jun'24
Total Current Assets
5,433
5,351
5,448
Cash, Cash Equivalents & STI
4,014
3,854
4,082
Accounts Receivable, Net
941
1,103
953
Inventories
231
188
222
Total Current Liabilities
1,467
1,522
1,559
Payables & Accruals
- -
- -
- -
ST Debt
103
- -
- -
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
3.24%
5.54%
0.38%
Free Cash Flow
-0.39%
-20.52%
-54.98%
Net Income, GAAP
-30.77%
12.16%
-5.89%
Sales/Revenue/Turnover
2.17%
3.5%
-2.17%
Total Cash Common Dividend
- -
- -
-25.29%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1,982
1,820
- -
- -
7,915
2025
- -
- -
- -
- -
7,744
2026
- -
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
9.91
- -
- -
- -
28.87
2025
- -
- -
- -
- -
27.73
2026
- -
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
52.99
2025
- -
- -
- -
- -
40.41
2026
- -
- -
- -
- -
- -
Similar Companies
Ktcs Corporation (058850.KS)
Winny Immigration & Education Services Ltd. (WINNY.NS)
Valid Soluções S.A. (VLID3.SA)
Incordex Corp. (ICDX)
UniCapital Corporation (UCPC)
AJIS Co., Ltd. (4659.T)
Business
Hikari Business Form Co., Ltd. HIKARI BUSINESS FORM CO., LTD. is a Japan-based company mainly engaged in the manufacture and sale of business forms and the provision of data printing services. Founded in 1968 and headquartered in Hachioji, Tokyo, the company operates primarily in the printing and business process outsourcing sectors, serving customers across Japan with a workforce of approximately 392 to 497 employees. Its core products and services include continuous forms, sheet forms, applied paper, unified vouchers, envelopes, brochures, and data print services such as monochrome high-speed printing and color variable printing; commercial printing; business process outsourcing encompassing calling, scanning, entry, document reception, collection, review, and data conversion; web solutions featuring electronic forms, document management systems, electronic ledgers, web system development, SMS and email delivery; mailing services including sealing, enveloping, pressure-sealed postcards, and customized shipping; creative services covering pamphlet and leaflet production, envelope design, website construction, and universal design redesign for forms and web interfaces; data print processing with personalized variable printing for addresses, cards, and barcodes; and ASP tools for inventory management, applicant data handling, and survey aggregation. Recent developments include ongoing share repurchase programs, with transactions reported through November 2025 including purchases under legal limits totaling up to 250,000 shares valued at 200 million yen, alongside improved nine-month financial results for the period ended September 30, 2025, showing revenue of 5.73 billion yen, operating profit of 88 million yen, pretax profit of 155 million yen, and net profit of 85 million yen, prompting an increased annual dividend projection of 45 yen per share.