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Tokuyama
(4043)
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Rating:61Neutral
Price Target:
¥4,455.00
▲(10.79% Upside)
Action:Reiterated
Date:07/30/26
The score is driven primarily by improved profitability and sustained positive cash generation, tempered by increased 2026 leverage and cyclical/volatile financial patterns. Technicals are a notable drag with the stock trading below major moving averages, while a moderate P/E and ~3% dividend yield provide valuation support.
Positive Factors
Profitability recovery
The recovery in EBIT and net income shows a materially stronger earnings base than in 2023. Improved gross, EBIT, and net margins indicate that pricing, product mix, or cost conditions have become more favorable, supporting profitability over the next several quarters if operating conditions remain stable.
Negative Factors
Sharp 2026 debt increase
The sharp increase in debt raises financial risk and could reduce flexibility if chemical markets weaken or profitability retreats. Higher leverage may also direct more future cash toward funding obligations, limiting the resources available for investment, shareholder returns, or absorbing another cyclical downturn.
Read all positive and negative factors
Positive Factors
Negative Factors
Profitability recovery
The recovery in EBIT and net income shows a materially stronger earnings base than in 2023. Improved gross, EBIT, and net margins indicate that pricing, product mix, or cost conditions have become more favorable, supporting profitability over the next several quarters if operating conditions remain stable.
Read all positive factors
Tokuyama (4043) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥303.86B
Dividend Yield2.84%
Average Volume (3M)452.59K
Price to Earnings (P/E)13.5
Beta (1Y)1.21
Revenue Growth3.19%
EPS Growth7.66%
CountryJP
Employees6,390
SectorBasic Materials
Sector Strength58
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)308.63
Shares Outstanding72,088,326
10 Day Avg. Volume290,700
30 Day Avg. Volume452,593
Financial Highlights & Ratios
PEG Ratio-2.39
Price to Book (P/B)0.95
Price to Sales (P/S)0.77
P/FCF Ratio12.29
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)586.07
Revenue Forecast (FY)¥387.67B
Tokuyama Business Overview & Revenue Model
Company Description
Tokuyama Corporation produces and sells various chemical products in Japan. It operates through Chemicals, Cement, Advanced Electronic Materials, Life Science, Environmental Business, and Others segments. The Chemicals segment offers caustic soda,...
How the Company Makes Money
Tokuyama makes money primarily by manufacturing and selling chemical and materials products to business customers. Revenue is generated from product sales across its operating segments, typically under supply contracts or recurring purchase orders...
Tokuyama Financial Statement Overview
Summary
Income Statement
68
Positive
Balance Sheet
60
Neutral
Cash Flow
58
Neutral
| Breakdown | Mar 2026 | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 349.48B | 343.07B | 341.99B | 351.79B | 293.83B |
| Gross Profit | 124.95B | 109.58B | 100.85B | 92.09B | 96.18B |
| EBITDA | 58.83B | 51.98B | 44.96B | 37.07B | 49.32B |
| Net Income | 22.21B | 23.39B | 17.75B | 9.36B | 28.00B |
Balance Sheet | |||||
| Total Assets | 557.43B | 476.21B | 457.36B | 478.34B | 433.21B |
| Cash, Cash Equivalents and Short-Term Investments | 47.19B | 75.54B | 48.68B | 68.08B | 83.12B |
| Total Debt | 162.02B | 110.69B | 105.78B | 142.45B | 109.22B |
| Total Liabilities | 259.62B | 202.34B | 197.41B | 236.73B | 200.29B |
| Stockholders Equity | 283.09B | 261.56B | 249.26B | 229.45B | 224.51B |
Cash Flow | |||||
| Free Cash Flow | 21.87B | 29.77B | 24.24B | -43.72B | -5.90B |
| Operating Cash Flow | 50.98B | 52.37B | 55.83B | -11.80B | 25.99B |
| Investing Cash Flow | -122.97B | -23.48B | -30.41B | -33.76B | -33.80B |
| Financing Cash Flow | 41.79B | -1.11B | -46.51B | 30.15B | 5.12B |
Tokuyama Technical Analysis
Positive
4021.00
Price Trends
4165.90
Positive
4479.45
Negative
4239.71
Negative
Market Momentum
12.41
Negative
56.25
Neutral
86.77
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4043, the sentiment is Positive. The current price of 4021 is below the 20-day moving average (MA) of 4061.15, below the 50-day MA of 4165.90, and below the 200-day MA of 4239.71, indicating a neutral trend. The MACD of 12.41 indicates Negative momentum. The RSI at 56.25 is Neutral, neither overbought nor oversold. The STOCH value of 86.77 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:4043.
Tokuyama Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | ¥370.71B | 10.55 | 7.27% | 2.60% | 3.53% | 63.85% | |
78 Outperform | ¥262.08B | 14.35 | ― | 1.39% | 8.10% | 67.59% | |
69 Neutral | ¥458.70B | 8.13 | 12.05% | 4.54% | 6.29% | 101.67% | |
67 Neutral | ¥338.42B | 14.21 | 5.55% | 3.17% | 2.52% | ― | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
61 Neutral | ¥303.86B | 13.50 | 8.05% | 2.84% | 3.19% | 7.66% | |
58 Neutral | ¥367.71B | 36.88 | 2.67% | 4.16% | 2.16% | -77.64% |
* Basic Materials Sector Average
JP:4043
Tokuyama
4,223.00
547.54
14.90%
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JP:4046
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2,012.00
349.91
21.05%
Tokuyama Corporate Events
Tokuyama sets FY2026 earnings outlook and raises dividend guidance
Jul 29, 2026
Tokuyama Corporation has issued its previously undetermined performance and dividend forecasts for the fiscal year ending March 31, 2027, projecting consolidated net sales of ¥392 billion and profit attributable to owners of parent of ¥2...
Tokuyama Sees Higher Sales but Profit Squeeze, Lifts Dividend Again
Jul 29, 2026
Tokuyama reported that first-quarter fiscal 2026 net sales rose year on year, supported by the consolidation of the Tokuyama Life Science Group and firm demand for semiconductor-related products, despite a temporary raw material shortage weighing ...
Tokuyama Lifts Dividend and Full-Year Profit Outlook Despite Softer Q1 Margins
Jul 29, 2026
Tokuyama Corporation reported first-quarter fiscal 2026 consolidated net sales of ¥85.7 billion, up 4.7% year on year, while operating profit fell 22.9% to ¥6.1 billion and ordinary profit dropped 11.8% to ¥6.7 billion. Despite marg...
Tokuyama Spins Off Cement Sales Unit Ahead of Transfer to Taiheiyo Cement
Jul 24, 2026
Tokuyama has established a wholly owned subsidiary, Tokuyama Cement Corporation, to assume its domestic sales business for cement and solidification agents as part of a broader restructuring. The new entity, created in July 2026 with modest capita...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.