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Tomoku Co., Ltd.
(3946)
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Rating:70Outperform
Price Target:
¥5,027.00
▲(10.48% Upside)
Action:Reiterated
Date:08/09/26
The score is driven primarily by improving financial performance (better margins and declining leverage), tempered by weak/volatile cash conversion. Technicals add support due to a strong uptrend and positive momentum indicators, and valuation is attractive with a low P/E and a ~2.9% dividend yield.
Positive Factors
Steady revenue and improving margins
Sustained top-line growth with rising gross and EBIT margins indicates operational improvements and better pricing or cost control. This strengthens long-term cash generation potential and resilience versus peers, enabling reinvestment in capacity and higher-value converting services.
Negative Factors
Volatile free cash flow
Inconsistent cash conversion limits self-funding capacity for debt reduction, capex or shareholder returns. Persistent FCF volatility increases reliance on external financing or equity and constrains strategic flexibility during raw-material cost swings or demand slowdowns.
Read all positive and negative factors
Positive Factors
Negative Factors
Steady revenue and improving margins
Sustained top-line growth with rising gross and EBIT margins indicates operational improvements and better pricing or cost control. This strengthens long-term cash generation potential and resilience versus peers, enabling reinvestment in capacity and higher-value converting services.
Read all positive factors
Tomoku Co., Ltd. (3946) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥74.10B
Dividend Yield2.88%
Average Volume (3M)23.72K
Price to Earnings (P/E)9.8
Beta (1Y)0.73
Revenue Growth0.32%
EPS Growth15.02%
CountryJP
Employees3,965
SectorConsumer Cyclical
Sector Strength84
IndustryPackaging & Containers
Share Statistics
EPS (TTM)460.87
Shares Outstanding19,341,568
10 Day Avg. Volume18,720
30 Day Avg. Volume23,723
Financial Highlights & Ratios
PEG Ratio0.59
Price to Book (P/B)0.54
Price to Sales (P/S)0.25
P/FCF Ratio10.36
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)N/A
Revenue Forecast (FY)N/A
Tomoku Co., Ltd. Business Overview & Revenue Model
Company Description
Tomoku Co., Ltd., established in 1940 and based in Tokyo, Japan, is a diversified corporation with a core business in manufacturing and supplying essential packaging products, such as corrugated materials and paper containers. These solutions are ...
How the Company Makes Money
Tomoku primarily makes money by selling corrugated cardboard materials and finished corrugated packaging (e.g., corrugated sheets and converted products such as boxes) to corporate customers that need shipping and logistics packaging. Revenue is g...
Tomoku Co., Ltd. Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
64
Positive
Cash Flow
48
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 221.87B | 224.09B | 219.61B | 211.53B | 212.82B | 206.01B |
| Gross Profit | 40.86B | 40.60B | 36.94B | 34.80B | 33.58B | 33.89B |
| EBITDA | 20.09B | 19.84B | 17.33B | 15.81B | 14.82B | 15.50B |
| Net Income | 7.60B | 7.36B | 6.51B | 5.31B | 5.25B | 5.98B |
Balance Sheet | ||||||
| Total Assets | 219.80B | 223.84B | 206.82B | 213.37B | 195.38B | 190.02B |
| Cash, Cash Equivalents and Short-Term Investments | 14.56B | 23.96B | 21.00B | 18.13B | 15.02B | 16.70B |
| Total Debt | 68.56B | 70.21B | 68.51B | 74.23B | 71.16B | 68.93B |
| Total Liabilities | 117.34B | 120.87B | 113.45B | 124.16B | 114.67B | 113.89B |
| Stockholders Equity | 102.24B | 102.15B | 92.73B | 88.62B | 80.20B | 75.66B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 5.37B | 7.80B | 4.05B | -2.42B | -994.00M |
| Operating Cash Flow | 0.00 | 15.17B | 18.14B | 11.12B | 7.01B | 16.70B |
| Investing Cash Flow | 0.00 | -10.65B | -8.26B | -9.29B | -9.39B | -18.22B |
| Financing Cash Flow | 0.00 | -2.18B | -7.05B | 1.05B | 535.00M | 4.12B |
Tomoku Co., Ltd. Technical Analysis
Positive
4550.00
Price Trends
4077.60
Positive
3823.76
Positive
3602.98
Positive
Market Momentum
132.22
Positive
65.65
Neutral
35.90
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:3946, the sentiment is Positive. The current price of 4550 is above the 20-day moving average (MA) of 4421.00, above the 50-day MA of 4077.60, and above the 200-day MA of 3602.98, indicating a bullish trend. The MACD of 132.22 indicates Positive momentum. The RSI at 65.65 is Neutral, neither overbought nor oversold. The STOCH value of 35.90 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:3946.
Tomoku Co., Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | ¥85.31B | 13.82 | ― | 6.64% | 2.45% | 1.87% | |
72 Outperform | ¥62.32B | 8.19 | ― | 3.31% | 6.94% | 58.58% | |
70 Outperform | ¥74.10B | 9.80 | ― | 2.86% | 0.32% | 15.02% | |
70 Outperform | ¥12.43B | 9.58 | ― | 1.20% | 1.06% | -1.71% | |
63 Neutral | ¥104.25B | 12.78 | 8.27% | 3.01% | 5.17% | 20.72% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
59 Neutral | ¥19.05B | 11.67 | ― | 4.39% | 1.59% | -5.26% |
* Consumer Cyclical Sector Average
JP:3946
Tomoku Co., Ltd.
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Tomoku Co., Ltd. Corporate Events
Tomoku lifts profit and dividend outlook despite weaker sales
Aug 6, 2026
Tomoku reported consolidated net sales of ¥48.7 billion for the three months to June 30, 2026, down 4.4% year on year, but improved profitability lifted operating profit 8.0% to ¥1.53 billion and ordinary profit 21.5% to ¥1.63 billi...
Tomoku boosts profits, raises dividend and reshapes group portfolio
Jul 31, 2026
Tomoku Co., Ltd. reported consolidated net sales of ¥48.7 billion for the three months ended June 30, 2026, down 4.4% year on year, but operating profit rose 8.0% to ¥1.53 billion and profit attributable to owners of parent jumped 31.5% ...
Tomoku Launches ¥1.5 Billion Share Buyback to Boost Capital Efficiency
Jul 31, 2026
Tomoku Co., Ltd. has authorized a share buyback to enhance shareholder returns and improve capital efficiency, while preserving flexibility in its capital policies amid a changing business environment. The board approved the repurchase of up to 50...
Tomoku Launches New Shareholder Benefits and Commemorative Perks
Jul 16, 2026
Tomoku Co., Ltd. has approved the launch of a new shareholder benefits program and a special commemorative benefit, aligning these measures with its progressive dividend policy and a recently introduced management structure. The initiative is inte...
Tomoku Completes Treasury Share Disposal for Restricted Stock Compensation
Jul 10, 2026
Tomoku Co., Ltd. has completed payment procedures for the disposal of treasury shares used as transfer-restricted stock-based remuneration, following a board resolution passed on June 24, 2026. The program allocates equity to key management person...
Tomoku to Grant ¥111 Million in Restricted Stock to Directors and Executives
Jun 24, 2026
Tomoku Co., Ltd. has approved the disposal of 29,400 treasury shares to be used as transfer-restricted stock-based remuneration for six directors, fifteen executive officers, and two representative directors of a main subsidiary. The shares, price...
Tomoku Unveils Third Medium-Term Plan With Ambitious Growth and Profit Targets
May 28, 2026
Tomoku Co., Ltd. has formulated its Third Medium-Term Management Plan, a three-year program covering the fiscal years ending March 31, 2027 to March 31, 2029, to drive group-wide growth. The plan clarifies business goals, emphasizes capital invest...
Tomoku Lifts Earnings, Strengthens Balance Sheet and Hikes Dividends for FY2026
May 15, 2026
Tomoku Co., Ltd. reported a solid performance for the fiscal year ended March 31, 2026, with net sales rising 2.0% to ¥224.1 billion and operating profit climbing 21.6% to ¥11.4 billion, lifting profit attributable to owners of parent by...
Tomoku Raises Annual Dividend as Part of Progressive Shareholder Return Policy
May 15, 2026
Tomoku Co., Ltd. has approved a year-end dividend of ¥65 per share for the fiscal year ended March 31, 2026, matching its latest forecast and up from ¥55 a year earlier. The total payout for this dividend will be ¥1,072 million, wit...
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.