1301:TWSEFormosa Plastics Corporation Analysis

Kyokuyo Co., Ltd. is trading at 4,325 JPY, just above its 20‑day SMA of 4,306.75 but well below the 50‑day (4,538.9) and 200‑day (4,837.05) averages, confirming a short‑term bearish bias. The RSI of 46 suggests the stock is not yet oversold, while the MACD histogram is positive, giving a tentative bullish signal amid a broader downtrend. Valuation metrics are attractive – a trailing P/E of 7.5x and a P/B of 0.66x – and the dividend yield of 3.76% with a modest 26% payout ratio looks appealing, though cash flow generation is negative. The company reports solid top‑line growth of 14.5% YoY, but thin margins (gross 12.4%, operating 2.1%) and a very high debt‑to‑equity ratio of 116.8 raise concerns about financial stability. Volatility is elevated at 23% over the past 30 days and volume is on a decreasing trend, indicating potential liquidity pressure. Overall, the stock offers a blend of value and growth characteristics, but investors should weigh the debt load and cash‑flow weakness against the low multiples and dividend appeal.