Sumitomo Bakelite Co., Ltd. (JP:4203)
:4203
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Sumitomo Bakelite Co., Ltd.
(4203)
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Rating:76Outperform
Price Target:
¥5,418.00
▲(5.16% Upside)
Action:ReiteratedDate:02/04/26
The score is driven primarily by solid financial performance (strong margins and low leverage) and supportive technical momentum (price above major moving averages with positive MACD). The main offset is weaker recent cash-flow conversion and only moderate valuation support (P/E ~18.4, ~1.74% yield).
Positive Factors
Healthy margins and recent revenue growth
Sustained gross, operating and net margins alongside ~8.6% TTM revenue growth show the business earns strong unit economics and pricing power. Improved margins provide durable cash flow buffer against cyclical demand, supporting reinvestment and steady earnings over the medium term.
Negative Factors
Weaker free cash flow and cash conversion
A material drop in FCF and sub‑optimal conversion (FCF only ~57% of net income) reduces internally available funds for capex, dividends or strategic projects. Persistently weaker cash conversion could constrain capital allocation and increase sensitivity to working capital swings.
Read all positive and negative factors
Positive Factors
Negative Factors
Healthy margins and recent revenue growth
Sustained gross, operating and net margins alongside ~8.6% TTM revenue growth show the business earns strong unit economics and pricing power. Improved margins provide durable cash flow buffer against cyclical demand, supporting reinvestment and steady earnings over the medium term.
Read all positive factors
Sumitomo Bakelite Co., Ltd. (4203) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥431.09B
Dividend Yield1.82%
Average Volume (3M)219.79K
Price to Earnings (P/E)17.7
Beta (1Y)1.03
Revenue Growth3.25%
EPS Growth-11.31%
CountryJP
Employees7,953
SectorBasic Materials
Sector Strength58
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)73.06
Shares Outstanding88,249,855
10 Day Avg. Volume194,370
30 Day Avg. Volume219,793
Financial Highlights & Ratios
PEG Ratio-1.51
Price to Book (P/B)1.06
Price to Sales (P/S)1.01
P/FCF Ratio10.95
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)334.27
Revenue Forecast (FY)¥337.52B
Sumitomo Bakelite Co., Ltd. Business Overview & Revenue Model
Company Description
Sumitomo Bakelite Co., Ltd. (4203) is a leading Japanese manufacturer specializing in the production of high-performance plastics and resins. The company operates primarily in sectors such as automotive, electronics, and industrial materials, prov...
How the Company Makes Money
Sumitomo Bakelite makes money primarily by manufacturing and selling polymer-based materials and related products to business customers (B2B), with revenue recognized largely from product shipments under supply contracts and purchase orders. Key r...
Sumitomo Bakelite Co., Ltd. Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
86
Very Positive
Cash Flow
62
Positive
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 312.11B | 304.77B | 287.27B | 284.94B | 263.11B | 209.00B |
| Gross Profit | 97.16B | 93.55B | 85.71B | 81.35B | 80.41B | 63.36B |
| EBITDA | 48.75B | 42.91B | 45.45B | 40.84B | 39.40B | 33.53B |
| Net Income | 25.32B | 19.28B | 21.83B | 20.29B | 18.30B | 13.20B |
Balance Sheet | ||||||
| Total Assets | 470.87B | 417.78B | 441.16B | 378.46B | 370.84B | 345.76B |
| Cash, Cash Equivalents and Short-Term Investments | 120.46B | 103.53B | 121.64B | 99.62B | 109.22B | 103.17B |
| Total Debt | 37.65B | 30.68B | 48.53B | 43.23B | 58.62B | 71.86B |
| Total Liabilities | 139.29B | 124.21B | 137.44B | 120.77B | 138.70B | 143.62B |
| Stockholders Equity | 328.25B | 290.67B | 301.16B | 255.36B | 229.78B | 200.21B |
Cash Flow | ||||||
| Free Cash Flow | 19.59B | 28.07B | 18.27B | 8.65B | 15.51B | 18.45B |
| Operating Cash Flow | 34.48B | 43.71B | 40.22B | 23.62B | 27.92B | 27.41B |
| Investing Cash Flow | -9.45B | -15.60B | -21.12B | -15.65B | -10.47B | -14.99B |
| Financing Cash Flow | -29.22B | -44.88B | -6.28B | -22.95B | -19.31B | 21.77B |
Sumitomo Bakelite Co., Ltd. Technical Analysis
Positive
5152.00
Price Trends
5354.21
Negative
5238.43
Positive
4946.52
Positive
Market Momentum
-17.26
Negative
52.73
Neutral
81.04
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4203, the sentiment is Positive. The current price of 5152 is above the 20-day moving average (MA) of 5064.45, below the 50-day MA of 5354.21, and above the 200-day MA of 4946.52, indicating a neutral trend. The MACD of -17.26 indicates Negative momentum. The RSI at 52.73 is Neutral, neither overbought nor oversold. The STOCH value of 81.04 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:4203.
Sumitomo Bakelite Co., Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | ¥336.26B | 5.46 | 9.34% | 4.27% | -0.48% | -35.29% | |
76 Outperform | ¥431.09B | 17.67 | 6.52% | 1.82% | 3.25% | -11.31% | |
74 Outperform | ¥303.73B | 9.05 | 5.47% | 3.41% | 2.60% | 9.50% | |
67 Neutral | ¥811.67B | 77.75 | -2.50% | 3.49% | -6.83% | -123.67% | |
65 Neutral | ¥353.35B | 10.69 | 8.14% | 2.61% | -1.45% | ― | |
65 Neutral | ¥236.76B | 6.13 | 1.47% | 4.29% | -7.45% | -71.68% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% |
* Basic Materials Sector Average
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Sumitomo Bakelite Co., Ltd. Corporate Events
Sumitomo Bakelite Raises Dividend Forecast for Fiscal 2025–26
Mar 30, 2026
Sumitomo Bakelite Co., Ltd. has revised its dividend policy for the fiscal year ending March 31, 2026, reflecting its emphasis on stable shareholder returns alongside efforts to enhance corporate value. The board has decided to increase the planne...
Sumitomo Bakelite Adds Veteran Executive Masayuki Hoshi as Director Candidate
Mar 30, 2026
Sumitomo Bakelite has moved to expand and reshape its board structure by nominating Masayuki Hoshi as an additional director candidate, following its previously announced leadership changes scheduled around the June 2026 shareholders’ meetin...
Sumitomo Bakelite to Cancel 5.87% of Outstanding Shares to Streamline Capital Structure
Feb 27, 2026
Sumitomo Bakelite Co., Ltd. has resolved to cancel 5,508,100 shares of its common stock, representing 5.87% of its outstanding shares, following a decision by its board of directors under Japan’s Companies Act. The cancellation, scheduled fo...
Sumitomo Bakelite Announces Leadership Reshuffle and Executive Transitions
Feb 27, 2026
Sumitomo Bakelite has announced changes to its top management, including the planned retirement of Representative Director and Executive Vice President Masayuki Inagaki following the June 2026 shareholders meeting. Inagaki is scheduled to become a...
Sumitomo Bakelite Lifts Full-Year Forecast on Strong Semiconductor Materials Demand
Feb 2, 2026
Sumitomo Bakelite Co., Ltd. has raised its consolidated financial forecast for the fiscal year ending March 31, 2026, citing stronger-than-expected demand for its semiconductor materials, especially in China and AI-related applications. The compan...
Sumitomo Bakelite Lifts Full-Year Profit Outlook on Strong Nine-Month Results
Feb 2, 2026
Sumitomo Bakelite reported consolidated revenue of ¥237.8 billion for the nine months ended December 31, 2025, with strong year-on-year growth in profit attributable to owners of the parent to ¥19.7 billion, despite a decline in business...
Sumitomo Bakelite to Acquire Kyocera Chemical Unit Spinoff to Bolster Semiconductor Materials Business
Jan 22, 2026
Sumitomo Bakelite has resolved to acquire all shares of a new company to be established by Kyocera Corporation that will assume part of Kyocera’s chemical business, including epoxy resin molding compounds for semiconductor encapsulation, bon...
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.