TSE:7952Leisure
Kawai (TSE:7952) Stock Confronts Thin Margins After Quarterly Loss
Kawai Musical Instruments Manufacturing came into this print with a premium story baked into the share price, trading on a 25.6x P/E and sitting at ¥3,560 after a strong three month run. The headline today is profit quality. Q1 delivered a small net loss of ¥116 million against a still positive trailing twelve month net income of ¥1,194 million, a profile that includes a sizeable one off gain and a modest 1.7% margin.
For a stock priced above a discounted cash flow estimate of ¥1,823.83, that...