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Taiyo Holdings Co., Ltd.
(4626)
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Rating:73Outperform
Price Target:
ÂĄ5,508.00
â–˛(15.35% Upside)
Action:Upgraded
Date:08/06/26
The score is driven primarily by strong financial performance, including double-digit revenue growth and a significant margin expansion alongside improving leverage. Valuation is supportive with a moderate P/E and a ~3.28% dividend yield. Offsetting these positives, technical indicators are mixed (negative MACD and only modest trend confirmation), and financial results show some historical variability in earnings and cash conversion.
Positive Factors
Sustained revenue growth
Consistent double-digit top-line growth across 2025–2026 indicates durable demand for Taiyo's PCB and functional-materials portfolio. Sustained revenue expansion supports capacity utilization, underpins reinvestment in R&D, and lowers the breakeven sensitivity to cyclical swings over a multi-quarter horizon.
Negative Factors
Uneven cash conversion
Wide swings in cash conversion driven by working‑capital and capex timing create uncertainty in free cash flow predictability. This variability can complicate reliable funding of dividends, capex or debt paydown during weaker demand periods and raises execution risk for multi‑quarter financial planning.
Read all positive and negative factors
Positive Factors
Negative Factors
Sustained revenue growth
Consistent double-digit top-line growth across 2025–2026 indicates durable demand for Taiyo's PCB and functional-materials portfolio. Sustained revenue expansion supports capacity utilization, underpins reinvestment in R&D, and lowers the breakeven sensitivity to cyclical swings over a multi-quarter horizon.
Read all positive factors
Taiyo Holdings Co., Ltd. (4626) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
ÂĄ545.12B
Dividend Yield3.28%
Average Volume (3M)284.24K
Price to Earnings (P/E)19.6
Beta (1Y)0.37
Revenue Growth18.43%
EPS Growth149.34%
CountryJP
Employees2,561
SectorGeneral
Sector StrengthN/A
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)215.90
Shares Outstanding116,839,615
10 Day Avg. Volume318,860
30 Day Avg. Volume284,240
Financial Highlights & Ratios
PEG Ratio0.19
Price to Book (P/B)4.79
Price to Sales (P/S)4.02
P/FCF Ratio23.68
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)227.05
Revenue Forecast (FY)ÂĄ147.15B
Taiyo Holdings Co., Ltd. Business Overview & Revenue Model
Company Description
Taiyo Holdings Co., Ltd., operating globally through its subsidiaries, primarily focuses on the electronics materials industry. Its extensive product portfolio includes materials for various printed wiring boards: for rigid boards, it provides liq...
How the Company Makes Money
Taiyo Holdings primarily makes money by manufacturing and selling functional materials used in electronics production, with its largest and most recognized revenue stream coming from PCB solder resist (solder mask). In this model, Taiyo develops p...
Taiyo Holdings Co., Ltd. Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
74
Positive
Cash Flow
78
Positive
| Breakdown | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 137.85B | 119.01B | 104.78B | 97.34B | 97.97B |
| Gross Profit | 67.50B | 56.19B | 48.83B | 42.79B | 42.87B |
| EBITDA | 41.36B | 24.94B | 21.73B | 23.71B | 25.20B |
| Net Income | 24.02B | 10.78B | 8.65B | 11.40B | 11.80B |
Balance Sheet | |||||
| Total Assets | 201.93B | 192.02B | 212.75B | 187.26B | 189.27B |
| Cash, Cash Equivalents and Short-Term Investments | 43.20B | 44.90B | 58.58B | 47.12B | 51.56B |
| Total Debt | 56.85B | 64.52B | 86.72B | 71.50B | 78.15B |
| Total Liabilities | 86.17B | 89.04B | 112.35B | 94.52B | 103.80B |
| Stockholders Equity | 115.75B | 102.97B | 100.39B | 92.74B | 85.47B |
Cash Flow | |||||
| Free Cash Flow | 23.41B | 17.40B | 9.64B | 11.07B | 9.17B |
| Operating Cash Flow | 30.74B | 23.71B | 21.22B | 22.74B | 18.31B |
| Investing Cash Flow | -7.67B | -8.31B | -21.07B | -13.16B | -11.26B |
| Financing Cash Flow | -26.00B | -29.22B | 8.95B | -13.94B | -11.28B |
Taiyo Holdings Co., Ltd. Technical Analysis
Positive
4775.00
Price Trends
4955.78
Negative
4919.91
Negative
4856.54
Negative
Market Momentum
-33.96
Negative
49.95
Neutral
65.04
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4626, the sentiment is Positive. The current price of 4775 is below the 20-day moving average (MA) of 4789.80, below the 50-day MA of 4955.78, and below the 200-day MA of 4856.54, indicating a neutral trend. The MACD of -33.96 indicates Negative momentum. The RSI at 49.95 is Neutral, neither overbought nor oversold. The STOCH value of 65.04 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:4626.
Taiyo Holdings Co., Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | ¥545.12B | 19.56 | ― | 3.25% | 18.43% | 149.34% | |
69 Neutral | ÂĄ2.82T | 14.56 | 11.39% | 1.32% | 11.97% | 45.59% | |
64 Neutral | ÂĄ418.76B | 9.22 | 10.33% | 4.92% | -0.45% | 50.53% | |
63 Neutral | ÂĄ477.83B | 15.76 | 11.32% | 4.13% | 0.16% | -12.56% | |
60 Neutral | ÂĄ828.29B | 23.14 | 4.01% | 3.40% | -7.76% | 7.92% | |
58 Neutral | ÂĄ814.97B | -20.29 | -6.25% | 2.29% | -4.57% | -190.44% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
JP:4626
Taiyo Holdings Co., Ltd.
4,841.00
1,378.77
39.82%
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Taiyo Holdings Co., Ltd. Corporate Events
Taiyo Holdings Tightens Governance With Audit and Compliance Reorganization
Jul 31, 2026
Taiyo Holdings has announced a reorganization aimed at tightening governance, elevating the Internal Audit Department to report directly to the president and creating a new Risk and Compliance Department with group-wide responsibility. These chang...
Taiyo Holdings Highlights Diversified Electronics and Healthcare Portfolio
Jul 31, 2026
Taiyo Holdings Co., Ltd., traded on the Tokyo Stock Exchange Prime Market, runs a diversified portfolio spanning electronics, medical and pharmaceuticals, and ICT and sustainability sectors. It supplies chemicals critical to printed circuit boards...
Taiyo Holdings Raises FY2027 Earnings Outlook on Strong Electronics Demand
Jul 31, 2026
Taiyo Holdings has revised upward its consolidated earnings forecasts for the first half and full fiscal year ending March 31, 2027, after strong first-quarter performance in its Electronics business. Net sales, operating income, ordinary income a...
Taiyo Holdings Delivers Strong Q1 Results and Lifts Full-Year Forecast, But Keeps Dividends on Hold
Jul 31, 2026
Taiyo Holdings reported a robust start to the fiscal year ending March 31, 2027, with first-quarter net sales rising 17.6% year on year to ¥39.0 billion and profit attributable to owners of the parent jumping 61.8% to ¥7.5 billion. Earni...
Taiyo Holdings Announces Executive Officer Change and Leadership Transition in Asia
Jun 29, 2026
Taiyo Holdings has announced a personnel change approved by its Board of Directors on June 29, 2026, involving executive officer Taisuke Ikeda. Following the expiration of his term, Ikeda will step down as an Executive Officer of Taiyo Holdings on...
Taiyo Holdings Corrects Executive Lineup, Clarifies Roles at Key Subsidiaries
Jun 24, 2026
Taiyo Holdings Co., Ltd. has issued a correction to its recently announced personnel changes, clarifying the titles and roles of key executives within its electronics and specialty chemicals subsidiaries. The revision removes previously stated con...
Taiyo Holdings Corrects Disclosure on Board Chairman’s Career History
Jun 24, 2026
Taiyo Holdings has issued a correction to its previously released notice regarding the chairman of the board of directors. The amendment clarifies the stated career history for the chairman of TBF Semiconductor Material (Shenzhen) Co., Ltd., confi...
Taiyo Holdings Corrects Board Role Disclosure for CEO Hitoshi Saito
Jun 24, 2026
Taiyo Holdings has issued a correction to its previously disclosed notice on the responsibilities of its board directors, clarifying the official roles held by President and CEO Hitoshi Saito across the group. The revision removes his previously s...
Taiyo Holdings Highlights Limited Dependence on Major Shareholder DIC Corporation
Jun 21, 2026
Taiyo Holdings Co., Ltd. has disclosed details of its relationship with DIC Corporation, which holds 20.03% of Taiyo’s voting rights and treats Taiyo as an equity-method affiliate. Despite this significant stake, Taiyo reports that transacti...
Taiyo Holdings Reshapes Senior Management to Bolster Global Electronics and Pharma Operations
Jun 21, 2026
Taiyo Holdings Co., Ltd. has announced a series of senior management changes resolved at its June 20, 2026 board meeting, with appointments at group subsidiaries to follow completion of necessary procedures. The moves consolidate oversight of fina...
Taiyo Holdings Elevates CEO Hitoshi Saito to Chairman in Leadership Consolidation
Jun 21, 2026
Taiyo Holdings has appointed President and Group CEO Hitoshi Saito as Chairman of the Board of Directors, effective June 20, 2026, consolidating top leadership roles at the company. Saito brings extensive international management experience across...
Taiyo Holdings Restructures Board Responsibilities Across Global Group
Jun 21, 2026
Taiyo Holdings Co., Ltd. has reshaped the responsibilities of its board directors following a June 20, 2026 meeting, clarifying leadership roles across its global electronics and medical and pharmaceutical subsidiaries. President and CEO Hitoshi S...
Taiyo Holdings Reshapes Senior Leadership Across Electronics and Pharma Units
May 14, 2026
Taiyo Holdings has announced a series of senior personnel changes approved by its board, signaling adjustments in leadership across its electronics and pharma businesses and key Asian subsidiaries. The moves primarily formalize the promotion of Sh...
Taiyo Holdings Revamps Board Slate Ahead of June 2026 Shareholders’ Meeting
May 14, 2026
Taiyo Holdings has announced a new slate of board director candidates to be voted on at its 80th Ordinary General Shareholders’ Meeting scheduled for June 2026. The lineup includes the reappointment of President and CEO Hitoshi Saito and ind...
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.