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Toho Acetylene Co., Ltd. (4093) AI Stock Analysis

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JP:4093

Toho Acetylene Co., Ltd.

(TSE/TYO:4093)

Select Model
Rating:69Neutral
Price Target:JPY 462.00â–²(14.93% Upside)
Action:reiterated
Date:08/17/26

The score is driven primarily by stable financial performance, led by a conservatively financed balance sheet and generally positive cash generation, offset by recent slowing in revenue/earnings and some free-cash-flow volatility. Valuation is supportive with a modest P/E and a healthy dividend yield, while technical signals are largely neutral and do not add strong momentum to the outlook.

Positive Factors
Conservative balance sheetLow leverage and a growing equity base provide financial resilience, reduce refinancing risk, and preserve capacity to support operations or investment through changing industrial demand.
Negative Factors
Recent revenue contractionRecent revenue contraction suggests weaker demand, volume, or pricing across industrial-gas applications. If sustained, it could limit operating leverage and make future profit growth dependent on efficiency gains.

Toho Acetylene Co., Ltd. (4093) vs. iShares MSCI Japan ETF (EWJ)

-10%0%10%20%30%40%JP:4093+18.87%EWJ+16.06%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
Market Cap
JPY 13.99B
Dividend Yield
3.48%
Average Volume (3M)
16.01K
Price to Earnings (P/E)
10.5
Beta (1Y)
0.42
Revenue Growth
2.52%
EPS Growth
20.63%
Country
Japan
Employees
763
Sector
Basic Materials
Sector Strength
61
Industry
Chemicals

Toho Acetylene Co., Ltd. Business Overview & Revenue Model

Company Description

Established in Tagajo, Japan, in 1948, Toho Acetylene Co., Ltd. serves as a comprehensive supplier of various gases and related equipment across the country. Their extensive portfolio features a wide array of high-pressure gases, including acetylene,...

How the Company Makes Money

The company primarily makes money by manufacturing and selling industrial gases—centered on acetylene—used in welding, cutting, and other industrial processes. Revenue is generated through (1) product sales of gases supplied to end users and distribu...

Toho Acetylene Co., Ltd. Financial Statement Overview

Summary

Financials indicate stability with some near-term slowing: revenue and earnings have recently plateaued/dipped slightly, but profitability remains positive. The balance sheet is a clear strength with low leverage (debt-to-equity ~0.21–0.25) and steadily rising equity. Cash flow is generally positive with consistently positive free cash flow, though variability and a drop in 2026 temper the score.

Income Statement

66Positive

Balance Sheet

78Positive

Cash Flow

62Positive
Financial statement breakdown
BreakdownTTMMar 2026Mar 2025Mar 2024Mar 2023Mar 2022
Income Statement
Total Revenue34.58B34.58B34.80B35.42B34.09B31.29B
Gross Profit11.24B11.24B10.97B11.17B10.12B9.60B
EBITDA2.65B2.65B2.64B2.76B2.19B1.88B
Net Income1.29B1.29B1.29B1.42B988.73M823.63M
Balance Sheet
Total Assets33.96B33.96B33.74B33.76B31.42B30.33B
Cash, Cash Equivalents and Short-Term Investments9.64B9.64B9.50B8.99B8.54B8.33B
Total Debt3.75B3.75B3.84B3.83B3.61B3.60B
Total Liabilities12.64B12.64B13.35B14.28B13.10B12.77B
Stockholders Equity19.14B19.14B18.30B17.50B16.48B15.83B
Cash Flow
Free Cash Flow0861.53M1.47B1.41B666.94M968.97M
Operating Cash Flow02.40B2.23B2.41B1.11B1.78B
Investing Cash Flow0-1.70B-993.79M-1.46B-443.35M-684.06M
Financing Cash Flow0-746.39M-730.63M-492.73M-454.03M-630.46M

Toho Acetylene Co., Ltd. Technical Analysis

Technical Analysis SentimentNegative
Last Price402.00

Price Trends

50DMA416.99Negative
100DMA417.28Negative
200DMA411.63Negative

Market Momentum

MACD-5.14Positive
RSI42.75Neutral
STOCH60.35Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4093, the sentiment is Negative. The current price of 402.00 is below the 20-day moving average (MA) of 407.80, below the 50-day MA of 416.99, and below the 200-day MA of 411.63, indicating a bearish trend. The MACD of -5.14 indicates Positive momentum. The RSI at 42.75 is Neutral, neither overbought nor oversold. The STOCH value of 60.35 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:4093.

Toho Acetylene Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform
Sector (61)

Financial Indicators

JP:4093 against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
JP:5013JP:501384OutperformJPY 43.48B8.94―3.82%-0.92%0.66%
JP:4091JP:409178OutperformJPY 2.67T18.27―1.07%9.89%36.49%
JP:4463JP:446371OutperformJPY 29.65B7.77―3.46%10.62%52.17%
JP:4041JP:404170OutperformJPY 209.77B11.31―4.53%-0.17%21.27%
JP:4097JP:409769NeutralJPY 68.45B13.34―3.23%3.87%8.93%
JP:4093JP:409369NeutralJPY 14.05B10.48―3.48%2.52%20.63%
Sector *61Neutral$10.43B7.12-0.05%2.87%2.86%-36.73%

* Basic Materials Sector Average

Performance Comparison

0%20%40%JP:4093JP:4041JP:4091JP:4097JP:4463JP:5013Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
JP:4093 and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
JP:4093Toho Acetylene Co., Ltd.402.0063.8118.87%
JP:4041Nippon Soda Co., Ltd.3860.00565.4017.16%
JP:4091Nippon Sanso Holdings Corporation6163.001320.7927.28%
JP:4097Koatsu Gas Kogyo Co., Ltd.1240.00249.4725.19%
JP:4463Nicca Chemical Co., Ltd.1881.00448.0431.27%
JP:5013Yushiro Chemical Industry Co., Ltd.3195.001014.3946.52%

Toho Acetylene Co., Ltd. Corporate Events

Toho Acetylene Posts Modest Q1 Growth and Maintains Cautious Full-Year Outlook

Aug 7, 2026

Toho Acetylene reported a modest rise in net sales to ¥8.76 billion and a slight increase in profit attributable to owners of parent to ¥285 million for the quarter ended June 30, 2026, with basic earnings per share edging up to ¥8.22. The balance sh...

Toho Acetylene Completes Restricted Stock Treasury Share Disposal

Aug 3, 2026

Toho Acetylene has completed the payment procedures for the disposal of 16,300 treasury shares under a restricted stock compensation plan approved by its board on July 17, 2026. The shares, priced at 423 yen each for a total value of about 6.89 milli...

Toho Acetylene Issues Restricted Treasury Shares to Align Executive Pay With Shareholders

Jul 17, 2026

Toho Acetylene has approved the disposal of 16,300 treasury shares as restricted stock compensation to three internal directors and two senior vice presidents, valued at about ¥6.89 million at ¥423 per share. The move is part of a stock-based compens...

Toho Acetylene unveils growth plan to lift returns and valuation

Jun 25, 2026

Toho Acetylene has reviewed its capital-cost-conscious management strategy after reporting fiscal 2026 ROE of 6.87%, above its estimated cost of equity but short of its 8% goal, with profits flat amid higher repair, logistics, and labor costs and unr...

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.

Date of analysis: Aug 17, 2026