Tokuyama Corporation (JP:4043)
:4043
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Tokuyama
(4043)
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Rating:63Neutral
Price Target:
¥4,258.00
▲(1.67% Upside)
Action:ReiteratedDate:05/01/26
The score is driven primarily by improved profitability and sustained positive free cash flow since 2024, tempered by higher 2026 leverage and cyclicality in results. Valuation is a positive contributor (low P/E and ~3% yield), while technical indicators show mixed-to-soft momentum.
Positive Factors
Improved profitability
Sustained EBIT and margin improvement through 2025–2026 indicates stronger underlying earnings power from pricing, mix and cost control. This durability supports reinvestment capacity and operating leverage, reducing reliance on cyclical top-line growth for profit recovery.
Negative Factors
Rising leverage
A material jump in total debt in 2026 raises structural financial risk: higher interest and principal obligations reduce flexibility, constrain capital allocation, and increase vulnerability if cash flow weakens in a downturn or cyclical trough.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved profitability
Sustained EBIT and margin improvement through 2025–2026 indicates stronger underlying earnings power from pricing, mix and cost control. This durability supports reinvestment capacity and operating leverage, reducing reliance on cyclical top-line growth for profit recovery.
Read all positive factors
Tokuyama (4043) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥301.05B
Dividend Yield2.65%
Average Volume (3M)407.64K
Price to Earnings (P/E)20.2
Beta (1Y)0.98
Revenue Growth1.87%
EPS Growth-5.06%
CountryJP
Employees5,734
SectorBasic Materials
Sector Strength58
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)290.46
Shares Outstanding72,088,326
10 Day Avg. Volume395,260
30 Day Avg. Volume407,639
Financial Highlights & Ratios
PEG Ratio-2.39
Price to Book (P/B)0.95
Price to Sales (P/S)0.77
P/FCF Ratio12.29
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)424.97
Revenue Forecast (FY)¥379.48B
Tokuyama Business Overview & Revenue Model
Company Description
Tokuyama Corporation produces and sells various chemical products in Japan. The company operates through six segments: Chemicals, Cement, Electronics Materials, Life Science, Eco Business, and Others. The Chemicals segment offers caustic soda, sod...
How the Company Makes Money
Tokuyama makes money primarily by manufacturing and selling chemical and materials products to business customers. Revenue is generated through (1) product sales across its chemical-related business lines (e.g., basic and specialty chemical produc...
Tokuyama Financial Statement Overview
Summary
Income Statement
68
Positive
Balance Sheet
60
Neutral
Cash Flow
58
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 342.38B | 349.48B | 343.07B | 341.99B | 351.79B | 293.83B |
| Gross Profit | 109.27B | 124.95B | 109.58B | 100.85B | 92.09B | 96.18B |
| EBITDA | 50.13B | 57.97B | 49.72B | 43.41B | 35.39B | 44.27B |
| Net Income | 20.90B | 22.21B | 23.39B | 17.75B | 9.36B | 28.00B |
Balance Sheet | ||||||
| Total Assets | 474.44B | 557.43B | 476.21B | 457.36B | 478.34B | 433.21B |
| Cash, Cash Equivalents and Short-Term Investments | 79.84B | 47.19B | 75.54B | 48.68B | 68.08B | 83.12B |
| Total Debt | 111.74B | 162.02B | 110.69B | 105.78B | 142.45B | 109.22B |
| Total Liabilities | 197.73B | 259.62B | 202.34B | 197.41B | 236.73B | 200.29B |
| Stockholders Equity | 262.17B | 283.09B | 261.56B | 249.26B | 229.45B | 224.51B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 21.87B | 29.77B | 24.24B | -43.72B | -5.90B |
| Operating Cash Flow | 0.00 | 50.98B | 52.37B | 55.83B | -11.80B | 25.99B |
| Investing Cash Flow | 0.00 | -122.97B | -23.48B | -30.41B | -33.76B | -33.80B |
| Financing Cash Flow | 0.00 | 41.79B | -1.11B | -46.51B | 30.15B | 5.12B |
Tokuyama Technical Analysis
Negative
4188.00
Price Trends
3914.04
Negative
4001.97
Negative
3696.35
Positive
Market Momentum
-13.33
Negative
49.13
Neutral
64.77
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4043, the sentiment is Negative. The current price of 4188 is above the 20-day moving average (MA) of 3773.90, above the 50-day MA of 3914.04, and above the 200-day MA of 3696.35, indicating a neutral trend. The MACD of -13.33 indicates Negative momentum. The RSI at 49.13 is Neutral, neither overbought nor oversold. The STOCH value of 64.77 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:4043.
Tokuyama Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | ¥326.69B | 5.46 | 9.34% | 4.27% | 0.43% | -23.12% | |
74 Outperform | ¥296.44B | 9.05 | 5.47% | 3.41% | 0.23% | -3.05% | |
65 Neutral | ¥338.87B | 8.14 | 8.14% | 2.61% | -1.77% | 51.80% | |
65 Neutral | ¥232.17B | 6.13 | 1.47% | 4.29% | -7.19% | ― | |
63 Neutral | ¥301.05B | 20.15 | 9.45% | 2.65% | 1.87% | -5.06% | |
63 Neutral | ¥240.98B | 17.36 | ― | 1.00% | -3.56% | 28.05% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% |
* Basic Materials Sector Average
JP:4043
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Tokuyama Corporate Events
Tokuyama Tightens Capital-Efficient Management and Boosts Shareholder Returns
Apr 28, 2026
Tokuyama has updated investors on its efforts to run management more conscious of capital costs and stock price, following the completion of its Medium-Term Management Plan 2025 and ongoing work on a new plan. The company reports improved financia...
Tokuyama Revamps Board and Audit Structure Ahead of New Mid-Term Plan
Apr 28, 2026
Tokuyama’s board has approved changes to its director lineup, nominating Senior Managing Executive Officer Katsumi Nagase as a new director and accepting the retirement from the board of Senior Managing Executive Officer Fumiaki Iwasaki, wit...
Tokuyama Posts Higher Fiscal 2025 Earnings but Withholds FY2026 Outlook Amid Middle East Uncertainty
Apr 28, 2026
Tokuyama reported higher net sales for fiscal 2025, driven mainly by consolidating the Tokuyama Life Science Group and robust growth in semiconductor-related product sales. Operating profit also increased year on year, supported by strong demand f...
Tokuyama Lifts Profits and Dividends as It Accelerates Investment and Life Science Expansion
Apr 28, 2026
Tokuyama reported fiscal 2025 net sales of ¥349.5 billion, up 1.9%, with operating profit jumping 23.5% to ¥37.0 billion and ordinary profit up 29.1%, although profit attributable to owners of parent slipped 5.1% to ¥22.2 billion, p...
Tokuyama to Exit Domestic Cement Sales, Selling New Subsidiary to Taiheiyo Cement
Mar 25, 2026
Tokuyama Corporation will carve out its domestic sales business for cement and solidification agents, along with shares in cement-related subsidiaries, into a new wholly owned company that will then be sold to Japan’s largest cement producer...
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.