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Tri Chemical Laboratories Inc.
(4369)
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Rating:70Outperform
Price Target:
¥3,498.00
▲(29.08% Upside)
Action:Reiterated
Date:06/02/26
The score is primarily supported by strong profitability and a conservative balance sheet, but is held back by weak cash conversion and negative free cash flow. Technicals are favorable due to a strong uptrend, though overbought indicators add near-term risk, while valuation (P/E ~22 and ~0.84% yield) provides limited additional support.
Positive Factors
Conservative balance sheet
Low leverage and expanding equity provide durable financial flexibility, enabling the company to absorb shocks, fund strategic investments or M&A, and maintain operations without reliance on expensive external financing. This supports long-term resilience and capital allocation optionality.
Negative Factors
Weak cash conversion and negative free cash flow
Persistent weak cash conversion and negative FCF reduce internal funding for capex, dividends, and debt paydown. Over 2-6 months this can force external financing or cutbacks, constrain strategic initiatives, and elevate liquidity and refinancing risk despite solid accounting profits.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Low leverage and expanding equity provide durable financial flexibility, enabling the company to absorb shocks, fund strategic investments or M&A, and maintain operations without reliance on expensive external financing. This supports long-term resilience and capital allocation optionality.
Read all positive factors
Tri Chemical Laboratories Inc. (4369) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥103.34B
Dividend Yield1.3%
Average Volume (3M)842.32K
Price to Earnings (P/E)16.9
Beta (1Y)1.34
Revenue Growth11.71%
EPS Growth15.04%
CountryJP
Employees274
SectorBasic Materials
Sector Strength58
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)189.64
Shares Outstanding32,498,640
10 Day Avg. Volume589,290
30 Day Avg. Volume842,316
Financial Highlights & Ratios
PEG Ratio1.74
Price to Book (P/B)2.97
Price to Sales (P/S)4.49
P/FCF Ratio-43.05
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥4,190.00Price Target Upside54.61% Upside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)177.33
Revenue Forecast (FY)¥28.84B
Tri Chemical Laboratories Inc. Business Overview & Revenue Model
Company Description
Founded in 1978 and headquartered in Uenohara, Japan, Tri Chemical Laboratories Inc. develops and supplies essential chemical compounds for cutting-edge industries. The company provides crucial precursors for the production of semiconductors, opti...
Tri Chemical Laboratories Inc. Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
86
Very Positive
Cash Flow
45
Neutral
| Breakdown | TTM | Jan 2026 | Jan 2025 | Jan 2024 | Jan 2023 | Jan 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 24.80B | 23.88B | 18.91B | 11.25B | 13.80B | 11.57B |
| Gross Profit | 9.33B | 9.02B | 7.95B | 4.02B | 5.51B | 4.77B |
| EBITDA | 8.37B | 7.82B | 6.63B | 3.25B | 4.71B | 4.00B |
| Net Income | 6.16B | 5.52B | 4.96B | 2.47B | 4.83B | 4.10B |
Balance Sheet | ||||||
| Total Assets | 47.17B | 47.27B | 37.13B | 31.86B | 32.12B | 28.44B |
| Cash, Cash Equivalents and Short-Term Investments | 7.80B | 7.28B | 9.44B | 10.50B | 11.14B | 8.03B |
| Total Debt | 6.24B | 4.13B | 1.78B | 2.40B | 3.24B | 4.28B |
| Total Liabilities | 10.41B | 11.13B | 5.54B | 4.29B | 6.24B | 7.12B |
| Stockholders Equity | 36.76B | 36.15B | 31.59B | 27.57B | 25.88B | 21.32B |
Cash Flow | ||||||
| Free Cash Flow | -3.03B | -2.49B | 605.75M | 1.23B | 4.86B | 2.76B |
| Operating Cash Flow | 4.88B | 3.80B | 3.68B | 2.97B | 6.39B | 3.64B |
| Investing Cash Flow | -8.65B | -7.05B | -3.12B | -1.78B | -1.56B | -932.88M |
| Financing Cash Flow | 3.49B | 1.09B | -1.62B | -1.86B | -1.70B | 3.59B |
Tri Chemical Laboratories Inc. Technical Analysis
Negative
2710.00
Price Trends
3573.70
Negative
3339.32
Negative
3136.85
Positive
Market Momentum
-89.27
Positive
38.80
Neutral
6.31
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4369, the sentiment is Negative. The current price of 2710 is below the 20-day moving average (MA) of 3586.00, below the 50-day MA of 3573.70, and below the 200-day MA of 3136.85, indicating a neutral trend. The MACD of -89.27 indicates Positive momentum. The RSI at 38.80 is Neutral, neither overbought nor oversold. The STOCH value of 6.31 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:4369.
Tri Chemical Laboratories Inc. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | ¥106.44B | 6.82 | 9.19% | 3.33% | -10.12% | 276.35% | |
77 Outperform | ¥113.43B | 14.99 | 15.07% | 1.74% | 11.90% | 93.07% | |
74 Outperform | ¥94.49B | 11.47 | ― | 3.02% | 0.51% | 3.23% | |
73 Outperform | ¥77.89B | 9.05 | ― | 3.04% | -0.37% | -20.98% | |
70 Outperform | ¥103.34B | 16.87 | ― | 1.30% | 11.71% | 15.04% | |
70 Outperform | ¥83.02B | 10.85 | ― | 3.74% | 0.53% | 30.98% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% |
* Basic Materials Sector Average
JP:4369
Tri Chemical Laboratories Inc.
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Tri Chemical Laboratories Inc. Corporate Events
Tri Chemical Laboratories Delivers Strong Q1 Earnings, Confirms Full-Year Outlook and Dividend
May 29, 2026
Tri Chemical Laboratories reported robust consolidated results for the three months ended April 30, 2026, with net sales rising 14% year on year to ¥7.49 billion and operating profit up 20.8% to ¥2.07 billion. Ordinary profit jumped 51.5...
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.