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TSUKISHIMA HOLDINGS CO. LTD.
(6332)
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Rating:72Outperform
Price Target:
¥2,573.00
▼(-8.86% Downside)
Action:Reiterated
Date:08/17/26
The score is driven primarily by solid financial fundamentals (revenue growth and improved profitability with conservative leverage), tempered by weak and volatile cash flow in the most recent year. Valuation is a meaningful positive due to the low P/E and solid dividend yield, while technical indicators point to moderate, not decisive, momentum.
Positive Factors
Steady Revenue Growth
Sustained revenue growth indicates healthy demand and effective execution across the company’s engineering, equipment, and infrastructure-related activities. Continued top-line expansion provides a foundation for operating leverage, recurring service opportunities, and investment in future projects over the next several quarters.
Negative Factors
Weak Cash Conversion
The steep decline in operating cash flow and very low conversion of reported earnings into cash raise concerns about the quality and timing of profits. Persistent weak conversion could restrict internally funded investment, reduce flexibility for dividends, and make reported earnings less dependable for capital planning.
Read all positive and negative factors
Positive Factors
Negative Factors
Steady Revenue Growth
Sustained revenue growth indicates healthy demand and effective execution across the company’s engineering, equipment, and infrastructure-related activities. Continued top-line expansion provides a foundation for operating leverage, recurring service opportunities, and investment in future projects over the next several quarters.
Read all positive factors
TSUKISHIMA HOLDINGS CO. LTD. (6332) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥91.70B
Dividend Yield3.75%
Average Volume (3M)283.72K
Price to Earnings (P/E)5.7
Beta (1Y)0.78
Revenue Growth8.13%
EPS Growth94.71%
CountryJP
Employees3,367
SectorIndustrials
Sector Strength72
IndustryIndustrial - Machinery
Share Statistics
EPS (TTM)403.91
Shares Outstanding40,125,800
10 Day Avg. Volume360,630
30 Day Avg. Volume283,719
Financial Highlights & Ratios
PEG Ratio0.04
Price to Book (P/B)1.12
Price to Sales (P/S)0.74
P/FCF Ratio26.78
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)182
Revenue Forecast (FY)¥153.00B
TSUKISHIMA HOLDINGS CO. LTD. Business Overview & Revenue Model
Company Description
Tsukishima Kikai Co., Ltd. is a global provider of advanced industrial systems and plant infrastructure, specializing in solutions for the water, wastewater, and general industrial sectors. The company delivers a wide range of products, including ...
How the Company Makes Money
TSUKISHIMA HOLDINGS makes money mainly by (1) delivering engineering, procurement, and construction (EPC) / plant engineering projects, and (2) manufacturing and selling industrial equipment and systems, supplemented by (3) recurring after-sales s...
TSUKISHIMA HOLDINGS CO. LTD. Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
82
Very Positive
Cash Flow
52
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 151.32B | 148.95B | 139.24B | 124.20B | 97.78B | 93.08B |
| Gross Profit | 31.11B | 29.75B | 27.55B | 24.58B | 18.70B | 19.36B |
| EBITDA | 13.56B | 13.34B | 12.85B | 10.39B | 8.19B | 8.39B |
| Net Income | 16.52B | 16.91B | 6.67B | 2.67B | 4.21B | 8.17B |
Balance Sheet | ||||||
| Total Assets | 183.60B | 203.02B | 192.25B | 208.01B | 146.46B | 153.57B |
| Cash, Cash Equivalents and Short-Term Investments | 55.02B | 40.15B | 30.56B | 30.04B | 23.26B | 29.06B |
| Total Debt | 16.13B | 17.66B | 21.65B | 38.14B | 19.09B | 27.76B |
| Total Liabilities | 69.53B | 85.55B | 80.19B | 102.47B | 63.77B | 72.62B |
| Stockholders Equity | 96.56B | 98.19B | 93.06B | 87.35B | 81.18B | 79.50B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 4.12B | 17.71B | -7.96B | 6.17B | -13.81B |
| Operating Cash Flow | 0.00 | 5.16B | 18.46B | -5.63B | 8.23B | 812.00M |
| Investing Cash Flow | 0.00 | 27.17B | 1.43B | -2.77B | -2.82B | -5.37B |
| Financing Cash Flow | 0.00 | -21.64B | -20.47B | 7.44B | -11.56B | -628.00M |
TSUKISHIMA HOLDINGS CO. LTD. Technical Analysis
Negative
2823.00
Price Trends
2590.44
Negative
2600.63
Negative
2762.20
Negative
Market Momentum
-72.99
Positive
35.97
Neutral
54.32
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:6332, the sentiment is Negative. The current price of 2823 is above the 20-day moving average (MA) of 2443.20, above the 50-day MA of 2590.44, and above the 200-day MA of 2762.20, indicating a bearish trend. The MACD of -72.99 indicates Positive momentum. The RSI at 35.97 is Neutral, neither overbought nor oversold. The STOCH value of 54.32 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:6332.
TSUKISHIMA HOLDINGS CO. LTD. Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | ¥509.50B | 17.96 | ― | 9.76% | 7.05% | 12.23% | |
72 Outperform | ¥91.70B | 5.74 | ― | 3.75% | 8.13% | 94.71% | |
68 Neutral | ¥161.54B | 18.79 | 9.89% | 2.03% | 12.87% | -13.63% | |
68 Neutral | ¥215.93B | 14.31 | 13.96% | 3.64% | 17.65% | 72.55% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
59 Neutral | ¥601.86B | 24.94 | 7.24% | 2.18% | 0.99% | 24.98% | |
55 Neutral | ¥172.24B | 11.57 | ― | 2.45% | 7.67% | -30.19% |
* Industrials Sector Average
JP:6332
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2,318.00
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TSUKISHIMA HOLDINGS CO. LTD. Corporate Events
Tsukishima Holdings and Mitsubishi Kakoki to Merge in 2027 via Holding Company Restructure
Sep 30, 2026
TSUKISHIMA HOLDINGS and Mitsubishi Kakoki have signed a business integration agreement and a share exchange pact to merge their operations on an equal footing from April 1, 2027, subject to shareholder and regulatory approval. The deal includes co...
Tsukishima Holdings Launches Share Buyback Ahead of Mitsubishi Kakoki Integration
Sep 30, 2026
TSUKISHIMA HOLDINGS has approved a treasury share repurchase of up to 1,000,000 common shares, representing about 2.5% of its outstanding stock, with a maximum outlay of 3 billion yen. The buyback, to be executed via market purchases on the Tokyo ...
Tsukishima Holdings Sets Vote on Mitsubishi Kakoki Integration and Governance Changes
Sep 30, 2026
TSUKISHIMA HOLDINGS CO., LTD. is a Japanese industrial and engineering group listed on the TSE Prime Market, now advancing a structural shift toward a joint holding company with Mitsubishi Kakoki Kaisha. The move underscores a strategic consolidat...
Tsukishima Holdings lifts sales and profit on record backlog despite softer orders
Aug 6, 2026
Tsukishima Holdings reported that in the first quarter of FY2026 it remained on track for record-high orders, net sales and operating profit, supported by a record order backlog. Orders overall dipped slightly to ¥43.4 billion as industrial o...
Tsukishima Holdings boosts Q1 sales and margins but sees profit dip, keeps full-year forecast and dividend plan
Aug 6, 2026
Tsukishima Holdings reported consolidated net sales of ¥27.18 billion for the three months ended June 30, 2026, up 9.5% year on year, with operating profit surging 188.8% to ¥482 million and ordinary profit rising 28.5% to ¥880 mill...
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.