1. Japan Stocks

  2. •

    Consumer Cyclical

  3. •

    Leisure
Heiwa Corporation

Heiwa Corporation

6412.T
Heiwa CorporationJP flagTokyo Stock Exchange
2,034.00
JPY
+14.00
- -
200.61BMarket Cap
Heiwa Corporation
6412.T
(Tokyo Stock Exchange)

Recent

price

2,034.00

P/E

ratio

- -

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
FRC
870.46
1,114.76
2,072.9
2,120.02
2,315.68
2,280.89
1,890.94
1,347.37
1,469.89
1,465.7
1,092.35
1,232.43
1,442.66
1,382.86
1,478.99
2,610.86
706.44
Revenue per Share
207.29
240.44
235.52
237.74
305.89
298.63
274.76
69
165.67
160.91
8.77
22.23
209.72
168.43
132.46
118.33
93.04
Basic EPS, GAAP
205.59
122.6
253.68
330.48
348.98
160.72
219.08
20.11
287.24
41.74
-7.75
131.98
180.8
25.66
61.12
98.15
91.76
Free Cash Flow per Basic Share
50.04
59.98
64.97
69.97
79.94
78.12
79.99
79.92
79.98
80.02
80.02
79.96
80.02
80.01
80.01
79.8
40.02
Dividend per Share
599.68
873.83
1,043.22
1,208.51
1,446.61
1,536.93
1,665.57
1,653.62
1,737.68
1,818.52
1,747.34
1,659.46
1,789.23
1,877.8
1,930.19
1,963.89
1,943.53
Book Value per Share
979.44
1,417.71
1,602.59
1,768.21
2,019.54
2,042.72
2,143.11
2,126.85
2,181.8
2,264.47
2,187.11
2,098.14
2,243.03
2,327.95
421.22
570.29
2,394.93
Tangible Book Value per Share
99
85
85
86
86
94
98
99
99
99
99
99
99
99
99
99
99
Basic Weighted Avg Shares
85,880
95,120
177,111
181,570
198,605
214,954
186,218
132,765
144,980
144,573
107,744
121,558
142,290
136,381
145,867
258,107
69,666
Sales/Revenue/Turnover
17.79
21.81
19.44
20.33
21.59
18.13
19.65
10.49
19.32
16.29
4.93
8.42
18.91
17.18
18.98
16.82
16.16
Operating Margin (%)
-5,240
3,963
7,575
8,339
9,478
11,027
11,098
10,740
9,868
8,745
9,016
10,082
8,801
9,004
9,463
30,809
4,631
Depreciation Expense
20,451
20,516
20,123
20,361
26,235
28,143
27,058
6,799
16,341
15,872
865
2,193
20,685
16,611
13,064
11,698
9,175
Net Income, GAAP
15.91
28.05
35.31
39.4
36.73
22.71
22.91
47.91
40.48
33.95
57.37
73.28
22.33
26.97
38.76
64.97
18.79
Effective Tax Rate (%)
23.81
21.57
11.36
11.21
13.21
13.09
14.53
5.12
11.27
10.98
0.8
1.8
14.54
12.18
8.96
4.53
13.17
Profit Margin (%)
53,521
54,498
68,758
78,870
93,724
47,811
70,273
50,422
66,598
57,504
34,320
25,571
27,163
46,428
26,396
-795
51,849
Working Capital
1,122
142,802
142,611
146,815
139,337
85,447
95,416
87,888
107,088
93,756
84,153
83,103
75,352
94,276
583,992
552,538
97,360
LT Debt
96,717
124,824
141,180
156,501
178,268
198,871
217,405
216,700
225,051
232,576
226,242
217,187
231,004
239,185
244,330
248,909
245,470
Total Equity
11.99
7.25
7.15
6.89
8.06
8.75
8.07
2.08
4.78
4.4
0.64
0.8
6.19
4.95
2.75
1.75
2.6
Return on Invested Capital (%)
34.64
13
7.71
7.27
8.87
9.78
9.5
2.45
5.76
5.5
0.35
0.81
7.5
5.9
2.57
1.9
3.17
Return on Capital (%)
39.78
30.68
24.59
21.14
23.06
20.93
17.52
4.16
9.78
9.05
0.49
1.31
12.16
9.19
6.96
6.08
4.94
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Mar'24
Jun'25
Sep'25
ST Debt
10,423
- -
14,913
LT Borrowings
94,276
- -
97,360
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
99
- -
99
Market Capitalization
197,854
204,332
209,263

Working Capital

FRC

•

in mil. unless spec.
Mar'24
Jun'25
Sep'25
Total Current Assets
97,406
- -
97,600
Cash, Cash Equivalents & STI
57,713
- -
57,754
Accounts Receivable, Net
9,876
- -
11,422
Inventories
17,525
- -
19,056
Total Current Liabilities
50,978
- -
45,751
Payables & Accruals
- -
- -
- -
ST Debt
10,423
- -
14,913
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
2.34%
1.98%
1.87%
Free Cash Flow
-57.66%
-330.72%
60.97%
Net Income, GAAP
90.94%
189.05%
-10.46%
Sales/Revenue/Turnover
5.1%
21.93%
76.95%
Total Cash Common Dividend
- -
- -
-0.03%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
34,942
31,773
36,089
33,577
136,381
2025
- -
- -
- -
- -
145,867
2026
- -
- -
- -
- -
258,107

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
50.12
- -
- -
- -
168.43
2025
- -
- -
- -
- -
132.46
2026
- -
- -
- -
- -
118.33

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
38.28
- -
- -
- -
80.01
2025
- -
- -
- -
- -
80.01
2026
- -
- -
- -
- -
79.8
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Business
Heiwa Corporation (6412.T), founded in 1949 and headquartered in Tokyo, Japan, develops, manufactures, and sells pachinko machines and pachislot machines primarily in the domestic Japanese market; it also operates and manages golf courses through its Pacific Golf Management (PGM) subsidiary. The company's core offerings include a diverse portfolio of pachinko and pachislot titles such as e Baki Hanma 199ver., L Baki, e Lupin III vs. Cats Eye, and L Fujiko BT, targeting pachinko parlors and gaming halls with innovative gaming experiences emphasizing entertainment and player engagement. Heiwa operates through two main segments—pachinko/pachislot machine development and golf course management—serving the amusement and leisure industry with approximately 5,000 employees across its facilities in Japan. In a transformative strategic expansion, Heiwa agreed in December 2024 to acquire PJC Investments Holdings L.P., parent of Accordia Golf, for approximately JPY 510 billion financed via senior debt from Sumitomo Mitsui Banking Corporation and Mizuho Bank; the transaction, advised by Baker McKenzie, completed around January 2025, significantly bolstering its golf operations and positioning Heiwa as a comprehensive leisure provider. Previously known as Heiwa Kogyo Co., Ltd., the company maintains a strong focus on research and development for competitive gaming products while expanding leisure assets amid Japan's evolving amusement regulations. Heiwa's geographic footprint centers on Japan, with manufacturing plants, sales networks, and golf courses nationwide supporting its dual business model.