Tokyo Ohka Kogyo Co Ltd (JP:4186)
:4186
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Tokyo Ohka Kogyo Co
(4186)
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Rating:74Outperform
Price Target:
¥11,334.00
▲(87.68% Upside)
Action:Reiterated
Date:05/12/26
The score is driven mainly by strong financial fundamentals (healthy profitability and low leverage), supported by a strong uptrend in the stock. These positives are moderated by weaker/uneven cash-flow conversion and overbought technical readings, with only modest support from valuation given the low dividend yield.
Positive Factors
Profitability & margins
Sustained, above-peer margins in 2025 signal durable operating leverage and pricing power in specialty chemicals. Higher gross and operating margins provide capacity to fund R&D and customer qualification, supporting long-term product placement and resilience through industry cycles.
Negative Factors
Uneven cash conversion & FCF volatility
Operating cash flow lags reported earnings and free cash flow is modest and volatile, limiting reliable internal funding for dividends or large strategic moves. Variability implies working-capital swings or lumpy investments, reducing predictability of shareholder returns and reinvestment capacity.
Read all positive and negative factors
Positive Factors
Negative Factors
Profitability & margins
Sustained, above-peer margins in 2025 signal durable operating leverage and pricing power in specialty chemicals. Higher gross and operating margins provide capacity to fund R&D and customer qualification, supporting long-term product placement and resilience through industry cycles.
Read all positive factors
Tokyo Ohka Kogyo Co (4186) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥1.36T
Dividend Yield1.08%
Average Volume (3M)576.71K
Price to Earnings (P/E)34.1
Beta (1Y)1.31
Revenue Growth18.84%
EPS Growth42.10%
CountryJP
Employees1,996
SectorTechnology
Sector Strength88
IndustryHardware, Equipment & Parts
Share Statistics
EPS (TTM)225.62
Shares Outstanding127,800,000
10 Day Avg. Volume637,990
30 Day Avg. Volume576,710
Financial Highlights & Ratios
PEG Ratio0.43
Price to Book (P/B)3.05
Price to Sales (P/S)2.93
P/FCF Ratio66.63
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)332.53
Revenue Forecast (FY)¥275.81B
Tokyo Ohka Kogyo Co Business Overview & Revenue Model
Company Description
Tokyo Ohka Kogyo Co., Ltd., together with its subsidiaries, manufactures and sells chemical products and process equipment in Japan and internationally. The company offers optimal photoresists and photolithography relative chemicals; and coating, ...
How the Company Makes Money
Tokyo Ohka Kogyo primarily makes money by selling specialty chemical materials that are consumed in customers’ manufacturing processes, especially semiconductor wafer fabrication. A core revenue stream is photoresists (light-sensitive materials ap...
Tokyo Ohka Kogyo Co Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
88
Very Positive
Cash Flow
63
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 217.85B | 237.03B | 200.97B | 162.27B | 175.43B | 140.06B |
| Gross Profit | 81.16B | 86.28B | 70.40B | 55.49B | 60.97B | 47.18B |
| EBITDA | 47.85B | 56.19B | 41.42B | 30.42B | 36.94B | 27.14B |
| Net Income | 27.16B | 33.34B | 22.68B | 12.71B | 19.69B | 17.75B |
Balance Sheet | ||||||
| Total Assets | 293.52B | 335.29B | 281.93B | 251.86B | 238.07B | 217.26B |
| Cash, Cash Equivalents and Short-Term Investments | 59.16B | 70.96B | 63.05B | 60.81B | 59.37B | 60.83B |
| Total Debt | 16.45B | 26.48B | 10.54B | 10.49B | 10.22B | 10.61B |
| Total Liabilities | 74.65B | 92.99B | 68.45B | 56.38B | 57.11B | 52.07B |
| Stockholders Equity | 207.75B | 227.72B | 200.66B | 183.80B | 169.92B | 156.04B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 10.43B | 5.58B | 2.50B | 8.29B | 11.93B |
| Operating Cash Flow | 0.00 | 35.19B | 30.15B | 17.21B | 18.99B | 19.76B |
| Investing Cash Flow | 0.00 | -25.29B | -2.73B | -9.38B | -12.38B | -4.58B |
| Financing Cash Flow | 0.00 | 3.17B | -15.42B | -7.38B | -8.61B | -18.11B |
Tokyo Ohka Kogyo Co Technical Analysis
Positive
6039.00
Price Trends
9320.30
Positive
8440.66
Positive
6804.22
Positive
Market Momentum
505.14
Positive
58.58
Neutral
60.06
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4186, the sentiment is Positive. The current price of 6039 is below the 20-day moving average (MA) of 10531.60, below the 50-day MA of 9320.30, and below the 200-day MA of 6804.22, indicating a bullish trend. The MACD of 505.14 indicates Positive momentum. The RSI at 58.58 is Neutral, neither overbought nor oversold. The STOCH value of 60.06 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:4186.
Tokyo Ohka Kogyo Co Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | ¥1.10T | 29.33 | 11.99% | 0.65% | 8.38% | 8.43% | |
79 Outperform | ¥692.32B | 26.54 | ― | 2.18% | 3.12% | 2.74% | |
76 Outperform | ¥362.88B | 16.36 | ― | 2.04% | -8.82% | 18.33% | |
74 Outperform | ¥1.36T | 34.10 | 15.75% | 1.08% | 18.84% | 42.10% | |
74 Outperform | ¥527.23B | 15.63 | 6.30% | 2.16% | 4.78% | ― | |
68 Neutral | ¥468.06B | 33.98 | 5.63% | 2.35% | -3.24% | -36.64% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% |
* Technology Sector Average
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Tokyo Ohka Kogyo Co Corporate Events
Tokyo Ohka Kogyo Rides AI-Driven Chip Demand to Strong Start in Fiscal 2026
May 11, 2026
Tokyo Ohka Kogyo reported a strong first quarter for fiscal 2026, with net sales rising 23.6% year on year to ¥67.0 billion as demand for electronic functional materials and high-purity chemicals increased on the back of robust semiconductor ...
Tokyo Ohka Kogyo Delivers Strong Q1 Results and Confirms 2026 Outlook
May 11, 2026
Tokyo Ohka Kogyo reported strong first-quarter results for the fiscal year ending December 31, 2026, with net sales rising 23.6% year-on-year to ¥67.1 billion and profit attributable to owners of parent jumping 55.8% to ¥11.7 billion. Op...
Tokyo Ohka Kogyo Completes Treasury Share Disposal for Restricted Stock Compensation
May 1, 2026
Tokyo Ohka Kogyo Co., Ltd. has completed the payment procedures for the disposal of 22,615 shares of its treasury stock, which are being used as restricted stock compensation under a plan approved by the board on April 3, 2026. The common shares w...
Tokyo Ohka Kogyo Grants Long-Term Restricted Stock to Executives and Employees
Apr 3, 2026
Tokyo Ohka Kogyo has approved the disposal of 22,615 treasury shares as restricted stock compensation to 27 eligible insiders, including directors, executive officers, executive fellows, and employees, with a total value of about JPY 169 million a...
Tokyo Ohka Kogyo to Book ¥7.0 Billion Dividend Income From Taiwan Unit
Mar 12, 2026
Tokyo Ohka Kogyo will receive a total dividend of NT$1,429 million, or ¥7,005 million, from its consolidated subsidiary TOK TAIWAN CO., LTD., with payments scheduled for March and September 2026. The move reflects internal capital allocation ...
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.