Consumer Cyclical · Specialty Retail · TSE · Japan
¥1303.00-1.77%
Market cap ¥1.58TNext earnings 2026-11-06Updated Oct 24, 2026 · valuation updating
Our verdict
No fair value
We are missing the financial data our models need for this company. It will appear once the data arrives.
Not valued: there are no financial statements on file yet.
ACCE opinionSanrio Company, Ltd. (8136.T)
Fair value
Not available
ACCE price target
¥1280
Rating
Not rated
Horizon
12 months
ACCE price target published on 22 Oct 2026, 16:00 CEST.
Price used: ¥1303 at the close on 23 Oct 2026, 08:30 CEST.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
ACCE score
80
out of 100
P/E
28.5x
forward 9.9x
1-year return
-10.4%
Dividend yield
1.21%
Sanrio Company, Ltd. in four questions
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Overview
ACCE thesis
Sanrio owns the licensing rights to Hello Kitty, My Melody, Kuromi and roughly 450 other characters, earning royalties on merchandise, and also runs Puroland theme park and a publishing arm. Its moat is the character IP itself: a 76.8% gross margin reflects a business that collects royalties from licensees rather than manufacturing goods, and a 43.1% operating margin is unusually high for a company selling consumer products. Revenue growth of 20.7% and a forward P/E of 10.1 against a trailing 29.0 suggest earnings are expected to step up sharply, which the market may not yet fully credit; the thesis needs checking on whether that earnings jump is organic licensing growth or a one-off. The name is worth a deeper look to test how durable character demand is outside Japan, and whether the trailing-to-forward gap holds up under scrutiny.
⚠ Investor warnings · 1 flagAI-assisted·How I use AI
moderate
Valuation above ACCE target
Shares trade at ¥1303.00, 1.8% above the ACCE price target of ¥1280.00. Trailing P/E is 29.0 against a forward P/E of 10.1, so the earnings outlook is doing much of the work.
AI research notes
AI-assisted·How I use AIWritten Oct 22, 2026 · figures from 2026-10-22 · prices to Oct 23, 2026
Why it could do well
Revenue grew 20.7% year over year in the latest filings, and has averaged 57.1% a year over five years.
Net margin of 27.6% and debt to equity of 0.08 show a highly profitable business carrying very little debt.
Analysts' mean price target of JPY 1534.47 sits 15.7% above the current share price.
Why it could disappoint
The trailing P/E of 29.0x is far above the forward P/E of 10.1x, which only holds if earnings roughly triple.
The share price of ¥1303.00 already trades 1.8% above the ACCE price target of ¥1280.00.
A dividend yield of 1.2% gives little income cushion if the share price stalls.
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