Risk factor
Very poor trading liquidity
Profitability factor
Undervalued vs peers
About
Kyosha Co., Ltd. is a global manufacturer and supplier of printed circuit boards (PCBs) and specialized carrier jigs essential for the assembly of electronic components. The company's diverse offerings include the proprietary Kyosha-Max dust-free construction technique, as well as comprehensive PCB design services. They provide a range of innovative jigs and materials such as MagiCarrier, designed for securing printed boards and minute components; MagiCarrier-ß, a heat-resistant, double-sided adhesive sheet; MagiCarrier-DIP, tailored for flow soldering applications; and MagiFix, a securing jig utilized during solder printing and component placement. Furthermore, Kyosha's product portfolio extends to various metal masks, including laser-etched masks for highly precise mounting, COB masks optimized for irregular PWB topographies, and PH masks suited for non-flat FPC and ceramic substrates. The company also furnishes a suite of other specialized jigs for tasks like hand soldering, lead forming, coating application, and dip testing. Complementing these are cleaning agents for circuit boards and reflow ovens, along with dedicated solutions and washers for soldering carriers. Established in Kyoto, Japan, in 1951, the firm initially operated as Kyoto Shashingata Co., Ltd. before officially adopting its current name, Kyosha Co., Ltd., in November 1982.
Company Valuation
Based on key historical and expected multiples, the stock is undervalued relative to its peers. In particular, the stock is reasonably priced on P/E, 'cheap' on EV/EBITD.