TMS Co., Ltd. (4891) AI Stock Analysis

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TMS Co., Ltd.

(TSE/TYO:4891)

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Rating:53Neutral

Price Target:JPY 113.00▼(-13.74% Downside)

Action:reiterated

Date:09/20/26

Overall score is held back primarily by weak financial performance (multi-year losses and sustained cash burn), partially offset by a low-leverage balance sheet. Technicals are supportive with a clear uptrend, but overbought signals raise near-term risk. Valuation provides limited support due to negative earnings and no dividend data.

Positive Factors

Low Financial LeverageA debt-free balance sheet reduces mandatory interest and repayment demands, giving TMS greater resilience during operating losses. This conservative financing profile preserves financial flexibility and may allow management to direct available resources toward research, development, or recovery initiatives.

Negative Factors

Persistent Operating LossesSeveral consecutive years of deep operating and net losses indicate that current activities are not producing dependable earnings. This weak profitability can consume capital, restrict reinvestment, and make a sustained recovery dependent on improved commercialization or additional funding.

TMS Co., Ltd. (4891) vs. iShares MSCI Japan ETF (EWJ)

Market Cap: JPY 6.07B
Dividend Yield: ―
Average Volume (3M): 444.45K
Price to Earnings (P/E): -6.0
Beta (1Y): 0.34
Revenue Growth: ―
EPS Growth: ―
Country: Japan
Employees: 18
Sector: Healthcare
Sector Strength: 51
Industry: Biotechnology

TMS Co., Ltd. Business Overview & Revenue Model

Company Description

Established in 2005 and headquartered in Fuchu, Japan, TMS Co., Ltd. focuses on the research, development, manufacturing, and commercialization of pharmaceuticals, quasi-drugs, drug substances, medical devices, and various medical commodities. The co...

TMS Co., Ltd. Financial Statement Overview

Summary

Financial quality is constrained by weak and unstable operations: profitability reverted to multiple years of deep losses with minimal recent revenue, and cash flow shows persistent operating/free-cash-flow burn. The main offset is a conservatively financed balance sheet with no reported debt, though equity has been declining alongside losses.

Income Statement

18Very Negative

Balance Sheet

62Positive

Cash Flow

24Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Feb 2025	Feb 2024	Feb 2023	Feb 2022
Income Statement
Total Revenue	0	0	0	0	0	1.95B
Gross Profit	-501.00K	-314.40K	-3.71M	-6.95M	-6.60M	1.74B
EBITDA	-1.03B	-836.05M	-655.89M	-937.00M	-513.55M	1.14B
Net Income	-699.20M	-859.27M	-660.55M	-960.04M	-860.92M	1.08B
Balance Sheet
Total Assets	3.21B	2.87B	3.03B	3.55B	3.79B	2.74B
Cash, Cash Equivalents and Short-Term Investments	3.18B	2.78B	2.92B	3.45B	3.58B	2.60B
Total Debt	0	0	0	0	0	0
Total Liabilities	122.98M	95.00M	216.78M	97.69M	76.16M	286.78M
Stockholders Equity	3.09B	2.77B	2.82B	3.46B	3.71B	2.45B
Cash Flow
Free Cash Flow	0	-782.43M	-524.60M	-826.17M	-702.14M	1.25B
Operating Cash Flow	0	-779.89M	-493.76M	-822.81M	-688.42M	1.26B
Investing Cash Flow	0	-2.54M	-30.84M	-3.36M	-13.72M	-16.96M
Financing Cash Flow	0	640.52M	919.00K	688.13M	1.69B	246.48M

TMS Co., Ltd. Technical Analysis

Technical Analysis SentimentPositive

Last Price131.00

Price Trends

50DMA123.72Positive

100DMA113.93Positive

200DMA128.22Positive

Market Momentum

MACD4.07Positive

RSI50.73Neutral

STOCH40.52Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4891, the sentiment is Positive. The current price of 131.00 is above the 20-day moving average (MA) of 129.50, above the 50-day MA of 123.72, and above the 200-day MA of 128.22, indicating a bullish trend. The MACD of 4.07 indicates Positive momentum. The RSI at 50.73 is Neutral, neither overbought nor oversold. The STOCH value of 40.52 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:4891.

TMS Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (51)

Financial Indicators

JP:4891 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
JP:7096	56Neutral	JPY 7.11B	43.86	―	―	4.85%	-40.57%
JP:4891	53Neutral	JPY 6.88B	-6.04	―	―	―	―
Sector *	51Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
JP:4593	44Neutral	JPY 33.21B	44.96	―	―	-47.32%	―
JP:4978	43Neutral	JPY 12.07B	-23.09	―	―	-18.71%	-246.54%
JP:4599	38Underperform	JPY 7.71B	-3.74	―	―	―	4.85%
JP:7776	37Underperform	JPY 6.82B	-5.52	―	―	-56.16%	3.12%

* Healthcare Sector Average

Performance Comparison

JP:4891 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
JP:4891	TMS Co., Ltd.	131.00	-12.00	-8.39%
JP:4593	Healios KK	223.00	-240.00	-51.84%
JP:4599	StemRIM Inc.	111.00	-164.00	-59.64%
JP:4978	ReproCELL Inc.	106.00	-64.00	-37.65%
JP:7096	StemCell Institute	639.00	-172.00	-21.21%
JP:7776	CellSeed Inc.	160.00	-259.00	-61.81%

TMS Co., Ltd. Corporate Events

TMS Co. Cleared to Start Phase IIa Trial of TMS-008 for Post-Surgical Acute Kidney Injury

Oct 15, 2026

TMS Co., Ltd. reported that Japan’s Pharmaceuticals and Medical Devices Agency has completed the mandated 14-day review of its Clinical Trial Plan Notification for a Phase IIa study of TMS-008. With this regulatory step finalized, the company c...

TMS Co. Files Phase IIa Trial Plan for Acute Kidney Injury Drug TMS-008

Sep 30, 2026

TMS Co., Ltd., a clinical-stage biopharmaceutical company specializing in SMTP-derived small molecules for severe conditions such as acute ischemic stroke, acute kidney injury and spinal cord injury, is advancing a pipeline aimed at areas of high unm...

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 20, 2026

TMS Co., Ltd. AI Stock Analysis