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Toho Acetylene Co., Ltd.
(4093)
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Rating:63Neutral
Price Target:
¥449.00
▲(5.15% Upside)
Action:Downgraded
Date:05/15/26
Score is supported by a conservative, low-leverage financial profile and attractive valuation (low P/E plus dividend yield), but is held back by weak technical momentum and recent slowing in revenue/earnings with a 2026 free-cash-flow decline.
Positive Factors
Conservative Balance Sheet
A low debt-to-equity ratio and a steadily growing equity base provide durable financial flexibility. This conservative capital structure reduces solvency risk, supports investment in equipment or safety inventories, and preserves capacity to absorb industry cyclicality over the medium term.
Negative Factors
Recent Revenue Slowdown
A recent multi-year deceleration and outright revenue declines reduce scale benefits and limit reinvestment capacity. Prolonged top-line weakness can compress operating leverage, constrain pricing power in industrial markets, and slow long-term earnings recovery prospects.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative Balance Sheet
A low debt-to-equity ratio and a steadily growing equity base provide durable financial flexibility. This conservative capital structure reduces solvency risk, supports investment in equipment or safety inventories, and preserves capacity to absorb industry cyclicality over the medium term.
Read all positive factors
Toho Acetylene Co., Ltd. (4093) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥14.58B
Dividend Yield3.36%
Average Volume (3M)33.26K
Price to Earnings (P/E)11.2
Beta (1Y)0.42
Revenue Growth-0.22%
EPS Growth4.42%
CountryJP
Employees763
SectorBasic Materials
Sector Strength58
IndustryChemicals
Share Statistics
EPS (TTM)36.99
Shares Outstanding35,020,000
10 Day Avg. Volume27,890
30 Day Avg. Volume33,256
Financial Highlights & Ratios
PEG Ratio-110.12
Price to Book (P/B)0.80
Price to Sales (P/S)0.44
P/FCF Ratio17.77
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
Toho Acetylene Co., Ltd. Business Overview & Revenue Model
Company Description
Established in Tagajo, Japan, in 1948, Toho Acetylene Co., Ltd. serves as a comprehensive supplier of various gases and related equipment across the country. Their extensive portfolio features a wide array of high-pressure gases, including acetyle...
How the Company Makes Money
The company primarily makes money by manufacturing and selling industrial gases—centered on acetylene—used in welding, cutting, and other industrial processes. Revenue is generated through (1) product sales of gases supplied to end users and distr...
Toho Acetylene Co., Ltd. Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
78
Positive
Cash Flow
62
Positive
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 34.58B | 34.80B | 35.42B | 34.09B | 31.29B |
| Gross Profit | 11.24B | 10.97B | 11.17B | 10.12B | 9.60B |
| EBITDA | 2.65B | 2.64B | 2.76B | 2.19B | 1.88B |
| Net Income | 1.29B | 1.29B | 1.42B | 988.73M | 823.63M |
Balance Sheet | |||||
| Total Assets | 33.96B | 33.74B | 33.76B | 31.42B | 30.33B |
| Cash, Cash Equivalents and Short-Term Investments | 9.64B | 9.50B | 8.99B | 8.54B | 8.33B |
| Total Debt | 3.75B | 3.84B | 3.83B | 3.61B | 3.60B |
| Total Liabilities | 12.64B | 13.35B | 14.28B | 13.10B | 12.77B |
| Stockholders Equity | 19.14B | 18.30B | 17.50B | 16.48B | 15.83B |
Cash Flow | |||||
| Free Cash Flow | 861.53M | 1.47B | 1.41B | 666.94M | 968.97M |
| Operating Cash Flow | 2.40B | 2.23B | 2.41B | 1.11B | 1.78B |
| Investing Cash Flow | -1.70B | -993.79M | -1.46B | -443.35M | -684.06M |
| Financing Cash Flow | -746.39M | -730.63M | -492.73M | -454.03M | -630.46M |
Toho Acetylene Co., Ltd. Technical Analysis
Neutral
427.00
Price Trends
414.94
Positive
421.02
Negative
393.55
Positive
Market Momentum
0.42
Positive
46.37
Neutral
17.26
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4093, the sentiment is Neutral. The current price of 427 is above the 20-day moving average (MA) of 423.05, above the 50-day MA of 414.94, and above the 200-day MA of 393.55, indicating a neutral trend. The MACD of 0.42 indicates Positive momentum. The RSI at 46.37 is Neutral, neither overbought nor oversold. The STOCH value of 17.26 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for JP:4093.
Toho Acetylene Co., Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | ¥43.35B | 8.81 | ― | 3.53% | -7.83% | 13.39% | |
70 Outperform | ¥215.21B | 11.54 | ― | 4.09% | -1.25% | 34.70% | |
69 Neutral | ¥60.23B | 11.70 | ― | 2.88% | 1.10% | 12.09% | |
66 Neutral | ¥32.47B | 9.83 | ― | 3.53% | 7.78% | 30.94% | |
65 Neutral | ¥2.62T | 18.61 | ― | 1.05% | 8.74% | 41.93% | |
63 Neutral | ¥14.58B | 11.25 | ― | 3.28% | -0.22% | 4.42% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% |
* Basic Materials Sector Average
JP:4093
Toho Acetylene Co., Ltd.
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Toho Acetylene Co., Ltd. Corporate Events
Toho Acetylene Completes Restricted Stock Treasury Share Disposal
Aug 3, 2026
Toho Acetylene has completed the payment procedures for the disposal of 16,300 treasury shares under a restricted stock compensation plan approved by its board on July 17, 2026. The shares, priced at 423 yen each for a total value of about 6.89 mi...
Toho Acetylene Issues Restricted Treasury Shares to Align Executive Pay With Shareholders
Jul 17, 2026
Toho Acetylene has approved the disposal of 16,300 treasury shares as restricted stock compensation to three internal directors and two senior vice presidents, valued at about ¥6.89 million at ¥423 per share. The move is part of a stock-...
Toho Acetylene unveils growth plan to lift returns and valuation
Jun 25, 2026
Toho Acetylene has reviewed its capital-cost-conscious management strategy after reporting fiscal 2026 ROE of 6.87%, above its estimated cost of equity but short of its 8% goal, with profits flat amid higher repair, logistics, and labor costs and ...
Toho Acetylene Affirms Independence Despite Major Stakes Held by Tosoh and Hikari Tsushin
May 14, 2026
Toho Acetylene disclosed the status of its key affiliated shareholders, confirming that Tosoh Corporation directly holds 24.72% of its voting rights and that HIKARI TSUSHIN indirectly controls 20.66% through several subsidiaries. Both shareholders...
Toho Acetylene Posts Flat FY2026 Earnings, Keeps Dividend as Profit Outlook Softens
May 14, 2026
Toho Acetylene reported virtually flat earnings for the fiscal year ended March 31, 2026, with net sales dipping 0.7% to ¥34.6 billion and profit attributable to owners of parent edging down 0.0% to ¥1.29 billion, as margins held steady ...
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.