Toagosei Co Ltd (JP:4045)
:4045
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Toagosei Co
(4045)
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Rating:73Outperform
Price Target:
¥1,993.00
▲(17.55% Upside)
Action:Reiterated
Date:02/18/26
The score is driven primarily by solid financial quality (strong balance sheet and resilient profitability) tempered by recent negative free cash flow. Technicals are supportive with an ongoing uptrend and neutral-to-positive momentum, while valuation is reasonable with a healthy dividend yield.
Positive Factors
Conservative Balance Sheet
Low leverage and steady equity growth create a durable financial cushion. This conservative balance sheet supports capital spending, dividend policy and downside protection during cycles, letting management manage negative free cash flow without forcing distress or asset sales.
Negative Factors
Negative and volatile free cash flow
Repeated negative free cash flow despite positive operating cash suggests heavy capex or working-capital pressure. Over several quarters this erodes internal funding capacity, forcing reliance on the balance sheet or external financing and constraining strategic optionality.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative Balance Sheet
Low leverage and steady equity growth create a durable financial cushion. This conservative balance sheet supports capital spending, dividend policy and downside protection during cycles, letting management manage negative free cash flow without forcing distress or asset sales.
Read all positive factors
Toagosei Co (4045) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥185.94B
Dividend Yield3.8%
Average Volume (3M)251.23K
Price to Earnings (P/E)16.4
Beta (1Y)0.59
Revenue Growth-4.32%
EPS Growth27.07%
CountryJP
Employees2,609
SectorBasic Materials
Sector Strength58
IndustryChemicals
Share Statistics
EPS (TTM)94.50
Shares Outstanding108,000,000
10 Day Avg. Volume169,920
30 Day Avg. Volume251,233
Financial Highlights & Ratios
PEG Ratio1.18
Price to Book (P/B)0.83
Price to Sales (P/S)1.10
P/FCF Ratio-31.52
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)117.3
Revenue Forecast (FY)¥166.50B
Toagosei Co Business Overview & Revenue Model
Company Description
Toagosei Co., Ltd., together with its subsidiaries, manufactures, distributes, and sells chemical products in Japan and internationally. The company operates through Commodity Chemicals, Polymer & Oligomer, Adhesive Material, Performance Chemicals...
How the Company Makes Money
Toagosei generates revenue primarily through the sale of industrial gases and chemical materials. Its revenue model is based on direct sales to manufacturing companies, research institutions, and various industrial sectors. Key revenue streams inc...
Toagosei Co Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
86
Very Positive
Cash Flow
48
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 166.37B | 162.31B | 167.59B | 159.37B | 160.82B | 156.31B |
| Gross Profit | 45.96B | 47.13B | 45.71B | 41.37B | 42.93B | 45.34B |
| EBITDA | 25.78B | 29.24B | 28.01B | 27.88B | 27.87B | 29.52B |
| Net Income | 10.55B | 12.77B | 11.88B | 12.18B | 12.49B | 13.77B |
Balance Sheet | ||||||
| Total Assets | 269.84B | 289.11B | 278.02B | 272.29B | 265.13B | 258.95B |
| Cash, Cash Equivalents and Short-Term Investments | 31.62B | 31.52B | 41.82B | 56.11B | 58.37B | 75.46B |
| Total Debt | 11.01B | 21.81B | 12.30B | 12.35B | 12.38B | 11.49B |
| Total Liabilities | 59.19B | 73.16B | 64.35B | 59.76B | 54.33B | 52.34B |
| Stockholders Equity | 209.55B | 214.81B | 212.59B | 211.51B | 205.97B | 201.76B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -5.68B | -1.86B | 9.98B | -9.31B | 9.70B |
| Operating Cash Flow | 0.00 | 22.29B | 20.18B | 21.64B | 10.99B | 21.22B |
| Investing Cash Flow | 0.00 | -29.64B | -13.59B | -3.53B | -3.58B | -10.24B |
| Financing Cash Flow | 0.00 | -4.50B | -14.51B | -15.52B | -9.46B | -8.64B |
Toagosei Co Technical Analysis
Negative
1695.50
Price Trends
1751.32
Negative
1749.98
Negative
1627.32
Positive
Market Momentum
-5.92
Negative
45.67
Neutral
62.37
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4045, the sentiment is Negative. The current price of 1695.5 is below the 20-day moving average (MA) of 1747.53, below the 50-day MA of 1751.32, and above the 200-day MA of 1627.32, indicating a neutral trend. The MACD of -5.92 indicates Negative momentum. The RSI at 45.67 is Neutral, neither overbought nor oversold. The STOCH value of 62.37 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:4045.
Toagosei Co Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | ¥185.94B | 16.42 | 4.41% | 3.80% | -4.32% | 27.07% | |
70 Outperform | ¥192.65B | 10.39 | ― | 4.09% | -2.00% | 23.48% | |
64 Neutral | ¥820.98B | 17.47 | 4.79% | 4.21% | -4.09% | -27.31% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
61 Neutral | ¥303.59B | 20.24 | ― | 5.28% | -2.31% | -1.17% | |
60 Neutral | ¥491.92B | 16.09 | 1.02% | 3.37% | -1.80% | -85.21% | |
59 Neutral | ¥323.16B | 19.39 | -4.00% | 3.71% | -4.00% | ― |
* Basic Materials Sector Average
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Toagosei Co Corporate Events
Toagosei Launches ¥2.1 Billion Share Buyback Under New Repurchase Program
Feb 13, 2026
Toagosei Co., Ltd. has bought back 1,150,000 shares of its common stock for approximately 2.1 billion yen, at an average price of 1,830.5 yen per share, via extended-hours trading on the Tokyo Stock Exchange’s ToSTNeT-3 system on February 13...
Toagosei Launches Targeted Share Buyback via Extended-Hours Trading
Feb 12, 2026
Toagosei Co., Ltd. has resolved to acquire up to 1,150,000 shares, or about 1.07% of its outstanding common stock excluding treasury shares, via extended-hours trading on the Tokyo Stock Exchange’s ToSTNeT-3 system at ¥1,830.5 per share...
Toagosei to Dispose of Treasury Shares for Employee Stock Compensation Plan
Feb 12, 2026
Toagosei will dispose of 198,000 shares of its treasury stock on March 3, 2026, at ¥1,878 per share, transferring them to a trust account at Sumitomo Mitsui Trust Bank for use in its employee stock compensation plan. The transaction totals ab...
Toagosei Extends and Expands Employee Stock Compensation Trust
Feb 12, 2026
Toagosei will continue its employee stock compensation plan, first introduced in April 2023, by extending the associated employee share granting trust through March 31, 2029. The board has approved an additional monetary contribution of ¥371....
Toagosei launches “Connect and Create 2028” plan with growth, ESG and efficiency targets
Feb 12, 2026
Toagosei has unveiled its 2026–2028 medium-term management plan, “Connect and Create 2028,” targeting resilient growth amid geopolitical risks, inflation, and rising ESG and digital demands. The company plans continued investment...
Toagosei Launches Up to ¥3 Billion Share Buyback to Boost Capital Efficiency
Feb 12, 2026
Toagosei Co., Ltd. has approved a new share buyback program, authorizing the acquisition of up to 2,000,000 shares, or about 1.86% of its outstanding common stock, for a maximum of 3.0 billion yen. The purchases will be conducted on the Tokyo Stoc...
Toagosei Lifts Dividend as FY2025 Profit Rises Despite Lower Sales
Feb 12, 2026
Toagosei reported consolidated net sales of ¥162.3 billion for the fiscal year ended December 31, 2025, down 3.2% year-on-year, while operating profit was nearly flat at ¥14.2 billion and ordinary profit declined 5.8% to ¥15.1 billi...
Toagosei Co., Ltd. Cancels Treasury Stock to Boost Efficiency
Dec 18, 2025
Toagosei Co., Ltd. has announced its decision to cancel a significant portion of its treasury stock, specifically 5,000,000 common shares, making up 4.42% of total shares before cancellation. This move, scheduled for December 25, 2025, highlights ...
Toagosei Co. Announces Strategic Organizational Changes for 2026
Nov 19, 2025
Toagosei Co., Ltd. announced significant organizational changes effective January 1, 2026, aimed at enhancing innovation and operational efficiency under its Medium-Term Management Plan. The company plans to strengthen its chemical substance manag...
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.