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Japanese maker of office furniture, store fixtures and logistics equipment for corporate and retail clients.
Japanese maker of office furniture, store fixtures and logistics equipment for corporate and retail clients.
Sells office furniture mainly in large orders tied to office moves, refits and new buildings, so demand follows corporate property decisions rather than steady replacement. Store fixtures and logistics systems follow retail and warehouse investment.
In one line: Japan's Steelcase/Herman Miller.
Moat: narrow (brand, distribution). Established office-furniture brand and distribution relationships with corporate clients.
Headquarters: Yokohama, Japan · Founded: 1945 · Employees: 6,082
Size Okamura (7994.T) is a Japan Consumer Discretionary company (Home Furnishings) with a market value of $1.35B, the 611th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥2,148 on 6 Nov 2026.
Performance Over six months the shares fell 14.2%, against -15.7% for the median peer and +1.8% for the Japan market (cap-weighted) — 11th highest of 21 in its peer set.
Growth Revenue grew 3.3% over the last twelve months (peer median +0.1%); the operating margin is 7.5% (peer median 6.4%).
Valuation It trades at 9.5× forward earnings against a peer median of 18.4× (3rd cheapest of 15).
Price implies For today's price to make sense, revenue must grow about -7% a year for seven years (Req g). Recent delivered growth is +6%, so the hurdle is -13 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 2.4 points above its cost of capital (6.3% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥328B | ¥329B | ¥315B | ¥298B | ¥277B |
| Revenue growth | — | +5% | +5% | +8% | — |
| Gross profit | ¥115B | ¥111B | ¥103B | ¥97.4B | ¥86.6B |
| EBITDA | ¥34.1B | ¥33.2B | ¥30.7B | ¥30.6B | ¥23.6B |
| Net income | ¥20.7B | ¥22.4B | ¥22.0B | ¥20.3B | ¥15.9B |
| Free cash flow | ¥24.4B | ¥19.3B | -¥15.5B | ¥5.58B | ¥1.12B |
| Capital expenditure | ¥10.1B | ¥10.8B | ¥18.8B | ¥17.1B | ¥13.4B |
| Total debt | ¥30.4B | ¥33.1B | ¥36.9B | ¥21.6B | ¥22.2B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Okamura 7994.T | $1.35B | -14% | +3% | 7% | 9.5× | -6.7% |
| Kokuyo 7984.T | $2.23B | +9% | +9% | 7% | 16.9× | -6.2% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 7994.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -2.5% | -2.6% | 11th highest of 21 |
| 6-month return | -14.2% | -15.7% | 11th highest of 21 |
| Distance from 52-week high | -22.2% | -41.8% | 6th highest of 21 |
| Revenue growth (TTM) | +3.3% | +0.1% | 7th highest of 21 |
| Operating margin | 7.5% | 6.4% | 7th highest of 21 |
| Forward P/E | 9.5× | 18.4× | 3rd cheapest of 15 |
| Growth the price implies (Req g, 7 yrs) | -6.7% | 0.1% | 2nd least demanding of 15 |
| Growth delivered (Del g) | +6.1% | +5.2% | 8th highest of 15 |
| Hurdle (Req g minus delivered) | -12.9 pp | -1.6 pp | 5th least demanding of 15 |
| ROIC minus cost of capital | +2.4 pp | -3.1 pp | 6th highest of 21 |
| EV / EBITDA | 6.0× | 9.0× | 3rd cheapest of 9 |
| Net debt / EBITDA | -0.3× | 0.8× | 4th least indebted of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Okamura 7994.T | Japan | $1.35B | -14% | +3% | 7% | 9.5× | -6.7% | +6.1% |
| MasterBrand MBC | United States | $1.37B | -12% | 0% | -1% | n/a | 19.4% | +2.1% |
| Ziel Home Furnishing Technology 301376.SZ | China | $1.32B | +32% | +21% | 6% | 18.2× | -7.0% | +17.0% |
| La-Z-Boy LZB | United States | $1.27B | -11% | 0% | 7% | 12.7× | 4.2% | +4.2% |
| Hyundai G.f 005440.KS | South Korea | $1.44B | -21% | -1% | 4% | 4.8× | -1.0% | +20.1% |
| Forbo FORN.SW | Switzerland | $1.51B | +23% | -1% | 8% | 16.7× | 0.2% | -0.6% |
| Man Wah 1999.HK | Hong Kong | $1.20B | -45% | -3% | 14% | 7.9× | -6.5% | 0.0% |
| CSG 000012.SZ | China | $1.17B | -13% | -12% | -5% | n/a | n/a | n/a |
| De Rucci Healthy Sleep 001323.SZ | China | $1.15B | -26% | -6% | 5% | 19.5× | 0.0% | +3.3% |
| Suofeiya Home Collection 002572.SZ | China | $1.12B | -35% | -22% | 8% | 20.7× | -2.8% | +2.3% |
| Dong Yi Ri Sheng Home Decoration 002713.SZ | China | $1.08B | -38% | -1% | -23% | n/a | n/a | n/a |
| WG Tech (JiangXi) 603773.SS | China | $1.87B | -20% | +2% | -8% | 222.4× | n/a | n/a |
| A-Zenith Home Furnishings 603389.SS | China | $1.91B | -17% | +275% | -5% | n/a | n/a | n/a |
| MotoMotion China 301061.SZ | China | $1.96B | -4% | -2% | 26% | 18.5× | -5.1% | +20.7% |
| Arhaus ARHS | United States | $2.01B | +118% | +5% | 7% | 26.2× | 28.4% | +22.1% |
| Higold 001221.SZ | China | $2.05B | -40% | +17% | 21% | 17.4× | -3.4% | +33.2% |
| TTK Prestige TTKPRESTIG.NS | India | $882M | +14% | +16% | 7% | 33.2× | 36.8% | +6.3% |
| Helen of Troy HELE | United States | $876M | +51% | +1% | 7% | 9.8× | 3.9% | -3.1% |
| Cello World CELLO.NS | India | $870M | -14% | +7% | 16% | 21.5× | 28.6% | +17.2% |
| Zhuzhou Kibing 601636.SS | China | $2.22B | -21% | -4% | -8% | n/a | n/a | n/a |
| Yotrio 002489.SZ | China | $809M | -23% | 0% | 2% | n/a | n/a | n/a |