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Tokai Carbon Co
(5301)
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Rating:65Neutral
Price Target:
¥2,511.00
▲(50.31% Upside)
Action:Reiterated
Date:09/10/26
The score is primarily supported by strong technical momentum (price above major moving averages with positive MACD). Offsetting this, financial performance is only moderate due to volatile profitability and recent revenue declines despite solid operating cash flow, while valuation is average with a P/E around 22 and a modest dividend yield.
Positive Factors
Consistent Operating Cash Flow
Consistently positive operating cash flow provides internal liquidity to support operations through industry cycles. It can help fund working capital and necessary investment without relying entirely on external financing, strengthening resilience over the next several quarters.
Negative Factors
Recent Revenue Declines
Back-to-back annual revenue declines indicate weaker recent top-line momentum and may limit operating leverage across the manufacturing base. Prolonged softness could pressure margins, reduce the pace of reinvestment, and make the 2025 earnings recovery harder to sustain.
Read all positive and negative factors
Positive Factors
Negative Factors
Consistent Operating Cash Flow
Consistently positive operating cash flow provides internal liquidity to support operations through industry cycles. It can help fund working capital and necessary investment without relying entirely on external financing, strengthening resilience over the next several quarters.
Read all positive factors
Tokai Carbon Co (5301) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥477.26B
Dividend Yield1.51%
Average Volume (3M)1.93M
Price to Earnings (P/E)26.1
Beta (1Y)1.18
Revenue Growth0.40%
EPS GrowthN/A
CountryJP
Employees4,436
SectorBasic Materials
Sector Strength58
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)88.45
Shares Outstanding216,111,910
10 Day Avg. Volume2,133,350
30 Day Avg. Volume1,929,489
Financial Highlights & Ratios
PEG Ratio-0.08
Price to Book (P/B)0.65
Price to Sales (P/S)0.64
P/FCF Ratio14.01
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥2,500.00Price Target Upside49.66% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)117.37
Revenue Forecast (FY)¥386.97B
Tokai Carbon Co Business Overview & Revenue Model
Company Description
Tokai Carbon Co., Ltd., headquartered in Tokyo, Japan, is a leading provider and manufacturer of a broad spectrum of carbon-based goods and services. The company's offerings include high-performance graphite electrodes, indispensable for electric ...
How the Company Makes Money
Tokai Carbon makes money primarily by manufacturing and selling carbon and graphite materials, with revenues driven by product shipments to industrial customers. A key revenue stream is the sale of graphite electrodes, which are consumable compone...
Tokai Carbon Co Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
58
Neutral
Cash Flow
64
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 338.61B | 322.96B | 350.11B | 363.95B | 340.37B | 258.87B |
| Gross Profit | 78.79B | 74.85B | 62.21B | 81.49B | 78.25B | 56.04B |
| EBITDA | 69.34B | 66.35B | -3.95B | 80.78B | 78.14B | 54.27B |
| Net Income | 18.78B | 20.08B | -56.73B | 25.47B | 22.42B | 16.11B |
Balance Sheet | ||||||
| Total Assets | 683.30B | 664.03B | 658.78B | 640.00B | 576.47B | 512.50B |
| Cash, Cash Equivalents and Short-Term Investments | 86.40B | 90.16B | 92.21B | 77.47B | 70.91B | 78.86B |
| Total Debt | 217.20B | 207.34B | 199.11B | 171.28B | 171.45B | 171.97B |
| Total Liabilities | 327.09B | 311.18B | 333.62B | 279.90B | 275.59B | 255.93B |
| Stockholders Equity | 321.47B | 318.36B | 289.56B | 324.49B | 268.83B | 229.21B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 14.77B | 10.91B | 16.71B | -2.78B | 9.12B |
| Operating Cash Flow | 0.00 | 55.87B | 64.47B | 62.07B | 41.20B | 38.07B |
| Investing Cash Flow | 0.00 | -51.05B | -70.78B | -47.63B | -49.90B | -35.28B |
| Financing Cash Flow | 0.00 | -7.69B | 9.41B | -14.51B | -10.63B | 1.21B |
Tokai Carbon Co Technical Analysis
Positive
1670.50
Price Trends
1825.65
Positive
1747.88
Positive
1376.65
Positive
Market Momentum
147.72
Negative
72.37
Negative
90.99
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:5301, the sentiment is Positive. The current price of 1670.5 is below the 20-day moving average (MA) of 2049.22, below the 50-day MA of 1825.65, and above the 200-day MA of 1376.65, indicating a bullish trend. The MACD of 147.72 indicates Negative momentum. The RSI at 72.37 is Negative, neither overbought nor oversold. The STOCH value of 90.99 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:5301.
Tokai Carbon Co Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | ¥56.65B | 14.63 | 7.21% | 3.87% | 2.65% | -4.30% | |
69 Neutral | ¥50.29B | 100.42 | ― | 4.14% | -3.28% | -88.36% | |
67 Neutral | ¥34.97B | 13.55 | ― | 3.13% | 2.72% | 24.14% | |
65 Neutral | ¥477.26B | 26.14 | 6.03% | 1.51% | 0.40% | ― | |
63 Neutral | ¥49.91B | 19.37 | ― | 3.12% | 2.17% | 4.31% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
61 Neutral | ¥47.41B | -134.79 | ― | 3.41% | 7.26% | -118.07% |
* Basic Materials Sector Average
JP:5301
Tokai Carbon Co
2,312.50
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132.45%
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Nippon Carbon Co
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Nippon Chemical Industrial Co., Ltd.
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SEC Carbon Ltd.
2,417.00
263.50
12.24%
Tokai Carbon Co Corporate Events
Tokai Carbon to Cancel 3.93% of Treasury Shares, Tightening Share Base
Aug 24, 2026
Tokai Carbon Co., Ltd. has announced that its Board of Directors approved the cancellation of 8,831,200 treasury shares, equivalent to 3.93% of the company’s issued common stock. Following the cancellation, scheduled for August 31, 2026, the...
Tokai Carbon Lifts Dividend as Sales Grow Despite Weaker First-Half Profit
Aug 5, 2026
Tokai Carbon reported consolidated net sales of ¥173.7 billion for the first half of 2026, up 9.9% year on year, with operating income rising 10.5% to ¥15.1 billion and ordinary income up 9.3% to ¥14.8 billion. Semi-annual net incom...
Tokai Carbon Lifts FY2026 Earnings Outlook on Strong Segment Performance
Aug 5, 2026
Tokai Carbon reported that its consolidated results for the first half of fiscal 2026 exceeded earlier forecasts, driven by higher sales in its Carbon Black and Fine Carbon segments and cost reductions across businesses including Smelting Lining....
Tokai Carbon Reshapes Carbon Black Leadership to Drive Rebuilding Project
Aug 5, 2026
Tokai Carbon Co., Ltd. has announced a management change within its carbon black division, effective September 21, 2026. Executive Officer Shinichi Makino will assume the additional role of General Manager of the Chita Plant while continuing as De...
Tokai Carbon Finalizes Adjustment on Accelerated Share Repurchase
Aug 4, 2026
Tokai Carbon Co., Ltd. has finalized the ex post facto adjustment related to its fully committed share repurchase program, concluding the process for acquiring its own shares initially announced in mid-May 2026. The company determined that the fin...
Tokai Carbon Confirms Safety and Rapid Recovery at Key Kumamoto Graphite Plant After Quake
Jul 30, 2026
Tokai Carbon Co., Ltd. reports that all employees at its Tanoura Plant are safe following the Kumamoto Earthquake on July 28, 2026, and that the site has avoided major damage to buildings and production equipment. The Tanoura facility, a core Fine...
Tokai Carbon Assesses Tanoura Plant After Kumamoto Earthquake; No Major Damage Reported
Jul 29, 2026
Tokai Carbon Co., Ltd., a key supplier of isotropic graphite for semiconductors, solar cells, and industrial uses, reported on the impact of the July 28 Kumamoto Earthquake on its Tanoura Plant in Ashikita-machi. The facility plays a central role ...
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.