Professional
Added to YB: 2025-07-15
Pitch date: 2025-07-10
7952.T [neutral]
Kawai Musical Instruments Manufacturing Co., Ltd.
-7.44%
current return
Author Info
Halvio Capital is an investment firm that seeks to compound capital at high rates of return while taking limited risk of capital impairment through separately managed accounts. The firm’s goal is to outperform the broader indices over a long time frame. Sign up for the newsletter.
Company Info
Kawai Musical Instruments Manufacturing Co., Ltd. manufactures and sells musical instruments worldwide.
Market Cap
JPY 22.6B
Pitch Price
JPY 2.6K
Price Target
N/A
Dividend
N/A
EV/EBITDA
8.20
P/E
55.80
EV/Sales
0.24
Sector
Leisure Products
Category
value
Halvio Capital Portfolio Holding: Kawai Musical Instruments Manufacturing Co., Ltd.
7952.T (holding update): Kawai Musical holds 21% global piano market share. Trades at 0.5x book value after weak year in China/N.America. New CEO targets ¥150B sales/¥15B op profit in 10yr plan. Even 3yr projection of ¥5B op profit = 3.5x EV/EBITDA vs Steinway's 14.5x acquisition multiple. 50% of comparable = significant upside.
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