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Totech Corporation (9960) AI Stock Analysis

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JP:9960

Totech Corporation

(TSE/TYO:9960)

Select Model
Rating:72Outperform
Price Target:JPY 4,867.00â–²(10.99% Upside)
Action:reiterated
Date:08/17/26

The score is driven primarily by strong financial performance (profit growth and a low-leverage balance sheet), supported by reasonable valuation (moderate P/E and solid dividend yield). These positives are tempered by mixed cash-flow quality in 2026 and a weak-to-neutral technical backdrop (negative MACD and price below key moving averages).

Positive Factors
Multi-year revenue and profit growthThe sustained increase in revenue and net income indicates expanding business scale and stronger earnings power over several years. Continued growth through 2026 provides a durable foundation for reinvestment, resilience, and further profit generation over the next several quarters.
Negative Factors
2026 cash-flow deteriorationThe sharp reduction in operating and free cash flow weakens confidence in near-term earnings conversion and reduces internally available funding. If sustained, lower cash generation could constrain capital allocation, dividends, or investment even while accounting profit continues to grow.

Totech Corporation (9960) vs. iShares MSCI Japan ETF (EWJ)

-10%0%10%20%30%40%JP:9960+35.41%EWJ+14.42%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
Market Cap
JPY 184.12B
Dividend Yield
3.08%
Average Volume (3M)
106.34K
Price to Earnings (P/E)
13.1
Beta (1Y)
1.16
Revenue Growth
3.76%
EPS Growth
18.01%
Country
Japan
Employees
2,855
Sector
General
Sector Strength
55
Industry
Industrial - Distribution

Totech Corporation Business Overview & Revenue Model

Company Description

Established in Tokyo, Japan, in 1955, Totech Corporation primarily operates within Japan, specializing in the provision of air conditioning and control system equipment. The company delivers comprehensive facility environment management solutions to...

How the Company Makes Money

A detailed, factual explanation of Totech Corporation (9960)'s revenue model and key revenue streams (e.g., primary sources of sales, customer types, contract structure, and any notable partnerships) could not be reliably determined from the informat...

Totech Corporation Financial Statement Overview

Summary

Fundamentals are strong overall: revenue and net income have risen meaningfully over multiple years, and the balance sheet is conservatively levered with steadily growing equity. The key offset is cash-flow inconsistency, including a notable drop in operating and free cash flow in 2026 versus 2025, which reduces confidence in near-term cash conversion.

Income Statement

82Very Positive

Balance Sheet

88Very Positive

Cash Flow

62Positive
Financial statement breakdown
BreakdownTTMMar 2026Mar 2025Mar 2024Mar 2023Mar 2022
Income Statement
Total Revenue170.54B170.01B155.96B140.73B126.70B110.12B
Gross Profit48.38B48.28B41.68B33.98B31.06B27.01B
EBITDA19.73B20.55B17.72B12.67B10.10B8.89B
Net Income12.92B13.13B11.19B7.00B5.23B4.72B
Balance Sheet
Total Assets113.02B115.12B105.23B100.48B92.06B84.69B
Cash, Cash Equivalents and Short-Term Investments12.08B11.30B13.08B8.69B6.05B7.84B
Total Debt8.21B6.67B4.82B9.88B13.26B13.06B
Total Liabilities38.34B41.45B44.00B47.04B46.56B43.02B
Stockholders Equity74.67B73.67B61.23B53.44B45.49B41.67B
Cash Flow
Free Cash Flow03.86B12.61B8.53B454.00M9.41B
Operating Cash Flow09.59B13.88B9.94B4.76B11.01B
Investing Cash Flow0-8.51B-1.10B-437.00M-5.03B-5.13B
Financing Cash Flow0-4.97B-8.41B-6.02B-2.65B-3.30B

Totech Corporation Technical Analysis

Technical Analysis SentimentPositive
Last Price4385.00

Price Trends

50DMA4150.44Positive
100DMA4042.32Positive
200DMA3970.08Positive

Market Momentum

MACD-26.49Positive
RSI58.03Neutral
STOCH50.05Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:9960, the sentiment is Positive. The current price of 4385.00 is above the 20-day moving average (MA) of 4223.00, above the 50-day MA of 4150.44, and above the 200-day MA of 3970.08, indicating a bullish trend. The MACD of -26.49 indicates Positive momentum. The RSI at 58.03 is Neutral, neither overbought nor oversold. The STOCH value of 50.05 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:9960.

Totech Corporation Peers Comparison

Overall Rating

UnderperformOutperform
Sector (55)

Financial Indicators

JP:9960 against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
JP:9960JP:996072OutperformJPY 166.77B13.06―3.08%3.76%18.01%
JP:6806JP:680670OutperformJPY 716.58B21.189.35%2.25%20.52%17.77%
JP:6908JP:690866NeutralJPY 61.40B21.79―5.84%9.70%3.12%
JP:6996JP:699660NeutralJPY 135.50B17.62―1.86%8.34%187.11%
Sector *55Neutral$6.65B3.83-15.92%6.20%10.91%7.18%
JP:6986JP:698650NeutralJPY 25.70B15.741.96%2.98%-0.55%532.31%
JP:6807JP:680746NeutralJPY 156.84B29.383.74%2.37%10.23%-33.88%

* General Sector Average

Performance Comparison

0%100%200%JP:9960JP:6986JP:6806JP:6807JP:6908JP:6996Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
JP:9960 and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
JP:9960Totech Corporation4385.001137.1135.01%
JP:6986Futaba Corp605.00-33.27-5.21%
JP:6806HIROSE ELECTRIC CO23100.005359.9730.21%
JP:6807Japan Aviation Electronics Industry 2324.0020.690.90%
JP:6908IRISO Electronics Co., Ltd.2570.00-473.13-15.55%
JP:6996Nichicon Corporation2041.00766.7060.17%

Totech Corporation Corporate Events

Totech Sets 42-Yen Interim Dividend for Fiscal Year Ending March 2027

Nov 10, 2026

Totech Corporation said its board resolved on Nov. 10, 2026, to pay a 42-yen-per-share interim dividend for the second quarter of the fiscal year ending March 2027, matching its forecast and rising from 35 yen for the previous fiscal year. The 1,728...

Totech Raises Fiscal 2027 Profit Forecasts While Holding Sales Target

Nov 10, 2026

Totech Corporation revised its full-year consolidated earnings forecast for the fiscal year ending March 2027, leaving net sales at ¥180 billion while raising operating profit to ¥19 billion, ordinary profit to ¥19.5 billion, profit attributable to o...

TOTECH Reports Record Q2 Sales and Operating Profit

Nov 10, 2026

TOTECH Corporation said Q2 FY3/27 demand came from redevelopment-related construction, private projects including data centers and factories, and public-sector work. Net sales rose 3.0% year over year to ¥80.8 billion and operating profit 18.6% to ¥8...

Totech Reports Six-Month Financial Results

Nov 10, 2026

Totech Corporation reported consolidated net sales of ¥80,825 million for the six months ended September 30, 2026, up 3.0% from the previous corresponding period. Operating profit rose 18.6% to ¥8,659 million, ordinary profit increased 18.2% to ¥9,16...

Totech Posts Softer Quarterly Profits but Confirms Stable Dividend and Growth Outlook

Aug 19, 2026

Totech Corporation reported consolidated net sales of ¥36.7 billion for the three months ended June 30, 2026, a modest 1.5% increase year on year, while operating profit, ordinary profit, and profit attributable to owners of parent all declined by ar...

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: Aug 17, 2026