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Toda Kogyo Corp.
(4100)
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Rating:49Neutral
Price Target:
¥1,846.00
▲(60.52% Upside)
Action:Reiterated
Date:09/25/26
The score is held down primarily by weak financial performance (continued net losses, declining revenue, and high leverage), despite a notable improvement in cash flow. Technicals are a relative bright spot with a strong uptrend and positive momentum, but signals look stretched (RSI near 69 and Stoch above 90). Valuation remains unattractive due to loss-making results and no dividend yield provided.
Positive Factors
Improving Operating Margins
Improved EBIT, EBITDA margin, and gross margin indicate that operating execution strengthened despite weaker sales. If maintained, better unit economics can support stronger earnings quality, provide more room to absorb cost pressure, and improve the company’s ability to convert industrial-materials activity into sustainable profitability.
Negative Factors
Declining Revenue
The sharp FY2026 revenue decline signals weaker business activity and reduces the scale over which fixed costs and operating capabilities can be leveraged. Even with improved margins, continued top-line contraction could limit earnings recovery, constrain reinvestment capacity, and weaken the company’s competitive position over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving Operating Margins
Improved EBIT, EBITDA margin, and gross margin indicate that operating execution strengthened despite weaker sales. If maintained, better unit economics can support stronger earnings quality, provide more room to absorb cost pressure, and improve the company’s ability to convert industrial-materials activity into sustainable profitability.
Read all positive factors
Toda Kogyo Corp. (4100) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥10.52B
Dividend Yield3.21%
Average Volume (3M)59.83K
Price to Earnings (P/E)―
Beta (1Y)1.57
Revenue Growth-11.25%
EPS Growth16.84%
CountryJP
Employees1,037
SectorGeneral
Sector StrengthN/A
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)-533.01
Shares Outstanding6,099,192
10 Day Avg. Volume74,410
30 Day Avg. Volume59,830
Financial Highlights & Ratios
PEG Ratio0.72
Price to Book (P/B)0.84
Price to Sales (P/S)0.27
P/FCF Ratio4.51
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)N/A
Revenue Forecast (FY)N/A
Toda Kogyo Corp. Business Overview & Revenue Model
Company Description
Operating both domestically in Japan and across global markets, Toda Kogyo Corp. is a producer and distributor of specialized functional pigments and advanced electronic materials. Its extensive product portfolio encompasses materials for electron...
How the Company Makes Money
Toda Kogyo makes money mainly by manufacturing and selling inorganic materials and related products. Key revenue streams include: (1) Iron oxide pigments: the company produces iron oxide-based pigments and sells them to customers that use them as ...
Toda Kogyo Corp. Financial Statement Overview
Summary
Income Statement
36
Negative
Balance Sheet
33
Negative
Cash Flow
52
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 28.09B | 28.04B | 31.67B | 26.23B | 34.93B | 35.33B |
| Gross Profit | 6.84B | 6.69B | 5.58B | 5.75B | 7.31B | 7.83B |
| EBITDA | 1.91B | 1.81B | 386.00M | 1.30B | 2.37B | 3.31B |
| Net Income | -3.08B | -3.46B | -3.56B | -3.58B | 3.27B | 3.12B |
Balance Sheet | ||||||
| Total Assets | 51.63B | 47.89B | 50.67B | 53.71B | 52.02B | 51.29B |
| Cash, Cash Equivalents and Short-Term Investments | 7.69B | 7.28B | 8.08B | 8.16B | 8.48B | 7.96B |
| Total Debt | 25.07B | 25.07B | 27.90B | 27.47B | 25.85B | 24.80B |
| Total Liabilities | 39.45B | 38.07B | 38.89B | 39.19B | 35.45B | 37.33B |
| Stockholders Equity | 11.47B | 9.14B | 11.13B | 13.96B | 15.93B | 12.52B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 1.71B | 1.04B | -2.13B | -1.07B | 120.00M |
| Operating Cash Flow | 0.00 | 3.29B | 3.96B | -754.00M | 672.00M | 839.00M |
| Investing Cash Flow | 0.00 | -1.37B | -2.40B | -1.64B | -479.00M | -1.28B |
| Financing Cash Flow | 0.00 | -2.76B | -1.76B | 1.50B | 452.00M | 1.12B |
Toda Kogyo Corp. Technical Analysis
Positive
1150.00
Price Trends
1636.96
Positive
1644.67
Positive
1513.19
Positive
Market Momentum
76.69
Positive
52.75
Neutral
18.05
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4100, the sentiment is Positive. The current price of 1150 is below the 20-day moving average (MA) of 1803.75, below the 50-day MA of 1636.96, and below the 200-day MA of 1513.19, indicating a bullish trend. The MACD of 76.69 indicates Positive momentum. The RSI at 52.75 is Neutral, neither overbought nor oversold. The STOCH value of 18.05 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:4100.
Toda Kogyo Corp. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
83 Outperform | ¥10.43B | 7.19 | ― | 1.97% | 9.24% | 125.63% | |
74 Outperform | ¥6.97B | 8.65 | ― | 3.26% | 14.27% | 13.63% | |
71 Outperform | ¥9.78B | 6.82 | ― | 1.93% | 5.41% | ― | |
71 Outperform | ¥7.91B | 26.36 | ― | 4.40% | -4.65% | -0.74% | |
61 Neutral | ¥8.54B | 6.21 | ― | 1.97% | 2.22% | 149.18% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
49 Neutral | ¥10.52B | -3.31 | ― | 3.21% | -11.25% | 16.84% |
* General Sector Average
JP:4100
Toda Kogyo Corp.
1,824.00
577.00
46.27%
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Toda Kogyo Corp. Corporate Events
Toda Kogyo Returns to Profit and Strengthens Equity While Maintaining Zero-Dividend Policy
Aug 26, 2026
Toda Kogyo reported consolidated net sales of ¥7.35 billion for the quarter ended June 30, 2026, up 0.7% year on year, with operating profit climbing 32.1% to ¥372 million. Profit attributable to owners of parent swung to ¥260 milli...
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.