Toda Kogyo Corp. (4100) AI Stock Analysis

Toda Kogyo Corp.

(TSE/TYO:4100)

Select Model

Rating:50Neutral

Price Target:JPY 1,706.00▼(-2.90% Downside)

Action:reiterated

Date:09/25/26

Weak financial performance from persistent losses and high debt is the primary factor limiting the score, with bullish technical momentum providing partial offset and negative P/E pressuring valuation.

Positive Factors

Improved Cash GenerationThe return to positive free cash flow and solid operating cash flow improves the company’s ability to fund operations internally. If sustained, this can reduce reliance on external financing and provide greater flexibility to manage its industrial materials business through uneven earnings.

Negative Factors

Persistent Net LossesRepeated net losses show that improved operating performance has not yet translated into sustainable bottom-line profitability. Continued losses can erode equity, restrict internally funded investment, and make the company more dependent on balance-sheet resources while earnings recovery remains uncertain.

Toda Kogyo Corp. (4100) vs. iShares MSCI Japan ETF (EWJ)

Market Cap: JPY 9.87B
Dividend Yield: ―
Average Volume (3M): 61.81K
Price to Earnings (P/E): -3.3
Beta (1Y): 1.59
Revenue Growth: -11.25%
EPS Growth: 16.84%
Country: Japan
Employees: 1,037
Sector: General
Sector Strength: 55
Industry: Chemicals - Specialty

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 electronic...

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 col...

Toda Kogyo Corp. Financial Statement Overview

Summary

Volatile revenues, persistent net losses, high leverage with debt-to-equity above 1.9, and inconsistent cash flows indicate significant financial instability.

Income Statement

25Negative

Balance Sheet

30Negative

Cash Flow

45Neutral

Financial statement breakdown
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	1.71B	1.04B	-2.13B	-1.07B	120.00M
Operating Cash Flow	0	3.29B	3.96B	-754.00M	672.00M	839.00M
Investing Cash Flow	0	-1.37B	-2.40B	-1.64B	-479.00M	-1.28B
Financing Cash Flow	0	-2.76B	-1.76B	1.50B	452.00M	1.12B

Toda Kogyo Corp. Technical Analysis

Technical Analysis SentimentPositive

Last Price1757.00

Price Trends

50DMA1694.16Positive

100DMA1637.81Positive

200DMA1551.55Positive

Market Momentum

MACD-15.45Positive

RSI49.55Neutral

STOCH73.09Neutral

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 1757.00 is above the 20-day moving average (MA) of 1744.00, above the 50-day MA of 1694.16, and above the 200-day MA of 1551.55, indicating a neutral trend. The MACD of -15.45 indicates Positive momentum. The RSI at 49.55 is Neutral, neither overbought nor oversold. The STOCH value of 73.09 is Neutral, 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

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

JP:4100 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
JP:4623	74Outperform	JPY 6.90B	8.62	―	3.26%	14.27%	13.63%
JP:4119	71Outperform	JPY 9.70B	6.82	―	1.94%	5.41%	―
JP:4629	67Neutral	JPY 11.55B	7.88	―	1.80%	9.24%	125.63%
JP:4406	66Neutral	JPY 8.35B	5.96	―	2.06%	2.22%	149.18%
JP:5695	61Neutral	JPY 7.39B	24.18	―	4.79%	-4.65%	-0.74%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
JP:4100	50Neutral	JPY 9.83B	-3.30	―	―	-11.25%	16.84%

* General Sector Average

Performance Comparison

JP:4100 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
JP:4100	Toda Kogyo Corp.	1757.00	473.00	36.84%
JP:4119	Nippon Pigment Company, Limited	6230.00	3111.42	99.77%
JP:4406	New Japan Chemical Co., Ltd.	218.00	-0.60	-0.28%
JP:4623	Asahipen Corporation	1843.00	170.72	10.21%
JP:4629	Daishin Chemical Co., Ltd.	2495.00	979.40	64.62%
JP:5695	Powdertech Co., Ltd.	2505.00	349.69	16.22%

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 million...

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: Sep 25, 2026

Toda Kogyo Corp. AI Stock Analysis