Tokyo Printing Ink Manufacturing Co., Ltd. (4635) AI Stock Analysis

• Market Cap: ¥19.95B
• Dividend Yield: 3.61%
• Average Volume (3M): 10.51K
• Price to Earnings (P/E): 11.5
• Beta (1Y): 0.80
• Revenue Growth: 8.85%
• EPS Growth: 110.05%
• Country: JP
• Employees: 684
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Chemicals - Specialty
• EPS (TTM): 26.61
• Shares Outstanding: 13,628,790
• 10 Day Avg. Volume: 8,100
• 30 Day Avg. Volume: 10,506
• PEG Ratio: 0.29
• Price to Book (P/B): 0.37
• Price to Sales (P/S): 0.23
• P/FCF Ratio: 32.47
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 69 Neutral
• Price Target: ¥7,158.00 ▲(398.82% Upside)

The overall stock score is driven by strong valuation metrics, with a low P/E ratio and high dividend yield, making it attractive for value investors. Financial performance is solid, though cash flow management needs improvement. Technical indicators suggest a bearish trend, which may present a buying opportunity if fundamentals remain strong.

Positive Factors

Revenue Growth

Consistent revenue growth indicates strong market demand and effective sales strategies, supporting long-term business expansion.

Balance Sheet Strength

A strong balance sheet with low leverage provides financial stability and flexibility to invest in growth opportunities.

Profitability Improvement

Improving profitability margins reflect effective cost management and operational efficiency, enhancing long-term competitiveness.

Negative Factors

Cash Flow Challenges

Negative free cash flow indicates potential liquidity issues, which could hinder the company's ability to fund operations and growth.

Modest ROE

A modest ROE suggests limited profitability enhancement, indicating a need for more efficient capital utilization to boost returns.

Operational Efficiency

A modest EBIT margin points to room for operational improvements, necessary for sustaining competitive advantage and profitability.

Tokyo Printing Ink Manufacturing Co., Ltd. Business Overview & Revenue Model

Company Description

Tokyo Printing Ink Mfg. Co., Ltd. manufactures and sells specialty chemicals in Japan and internationally. The company operates through four segments: Inks Business, Chemicals Business, Processed Products Business, and Real Estate Leasing Business. The Ink Business segment offers offset inks and related products; gravure inks and related products; functional coating materials; and other inkjet inks. The Chemical Business segment provides plastic coloring and functional masterbatches, and compounds; dry colors; colorants for thermosetting resins; cleaning agents for molding machines; and powder resins, as well as materials for 3D printers and radiation measurement. The Processed Products Business segment offers packaging and industrial products, including plastic meshes, mono-oriented olefin films, PP-foamed films, and heat-retention non-woven sheets; and civil engineering and outdoor materials for applications in load support enhancement, protection of steep soil slope and channel, earth retention, disaster-prevention, etc. The Real Estate Leasing Business segment rents office buildings. It also engages in the trading of commodities. The company was founded in 1895 and is headquartered in Tokyo, Japan.

How the Company Makes Money

Tokyo Printing Ink Manufacturing Co., Ltd. generates revenue through the sale of its printing inks and related products to printers and manufacturers in various industries. The company has established key revenue streams by offering a wide array of specialized inks tailored to different printing processes, such as offset, flexo, and gravure printing. Additionally, Tokyo Printing Ink capitalizes on partnerships with leading printing companies and distributors, which helps expand its market reach. The company's emphasis on research and development enables it to introduce new products and technologies that drive sales. Furthermore, Tokyo Printing Ink may also benefit from providing technical support and consulting services to customers, thereby creating additional income opportunities.

Tokyo Printing Ink Manufacturing Co., Ltd. Financial Statement Overview

Summary

Tokyo Printing Ink Manufacturing Co., Ltd. shows a positive financial trajectory with improving revenue and profitability margins. The balance sheet is robust with low leverage and solid equity. However, cash flow management needs attention due to a negative free cash flow to net income ratio, indicating potential liquidity challenges.

Income Statement

The income statement indicates a strong recovery trajectory with a notable revenue growth rate of 6.57% from 2024 to 2025 and a net profit margin improving to 2.52% in 2025. Gross profit margin remains healthy at 14.63%, reflecting effective cost management. However, the EBIT margin is modest at 2.82%, suggesting room for operational efficiency improvements. Overall, profitability is improving with EBITDA margin at 6.63%.

Balance Sheet

The balance sheet is stable, with a low debt-to-equity ratio of 0.23, indicating conservative leverage. Return on equity rose to 3.98% in 2025, marking improved shareholder value creation. The equity ratio stands at 58.30%, reflecting a solid equity base. However, the modest ROE suggests potential to enhance profitability.

Cash Flow

The cash flow statement shows a positive operating cash flow to net income ratio of 1.93, indicating efficient cash generation. However, free cash flow has decreased significantly, with a negative free cash flow to net income ratio of 0.29, signaling potential liquidity challenges. Free cash flow growth rate remains volatile, warranting a focus on sustaining positive cash flows.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	47.84B	46.81B	43.92B	43.41B	41.40B	38.16B
Gross Profit	7.42B	6.85B	6.49B	5.86B	6.75B	6.20B
EBITDA	4.38B	3.10B	2.50B	4.28B	2.47B	2.27B
Net Income	1.46B	1.18B	881.00M	1.65B	725.00M	600.00M
Balance Sheet
Total Assets	51.17B	50.83B	52.47B	47.80B	47.31B	45.78B
Cash, Cash Equivalents and Short-Term Investments	3.42B	3.70B	3.74B	3.38B	3.62B	3.16B
Total Debt	7.35B	6.92B	7.53B	7.55B	9.19B	8.89B
Total Liabilities	21.26B	21.00B	23.07B	20.53B	21.62B	20.57B
Stockholders Equity	29.70B	29.63B	29.20B	27.09B	25.54B	25.06B
Cash Flow
Free Cash Flow	0.00	337.00M	408.00M	-2.16B	-190.00M	51.00M
Operating Cash Flow	0.00	2.28B	1.99B	-893.00M	1.43B	1.94B
Investing Cash Flow	0.00	-1.18B	-1.28B	2.46B	-1.04B	-1.67B
Financing Cash Flow	0.00	-1.25B	-398.00M	-2.01B	39.00M	1.32B

Tokyo Printing Ink Manufacturing Co., Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1435.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4635, the sentiment is Positive. The current price of 1435 is below the 20-day moving average (MA) of 1462.05, above the 50-day MA of 1418.82, and above the 200-day MA of 1108.33, indicating a bullish trend. The MACD of 17.08 indicates Negative momentum. The RSI at 53.71 is Neutral, neither overbought nor oversold. The STOCH value of 51.75 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:4635.

Tokyo Printing Ink Manufacturing Co., Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
4625	78 Outperform	¥4.08B	11.33	―	2.27%	1.79%	31.63%
4633	75 Outperform	¥119.27B	11.30	―	3.72%	5.40%	14.80%
4628	74 Outperform	¥173.53B	13.45	6.87%	1.11%	2.88%	16.60%
4635	69 Neutral	¥19.95B	11.55	―	3.61%	8.85%	110.05%
4620	64 Neutral	¥18.79B	28.37	―	2.86%	-3.46%	-52.24%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
4615	44 Neutral	¥4.25B	-21.75	―	―	8.66%	-239.07%

Tokyo Printing Ink Manufacturing Co., Ltd. Corporate Events

Tokyo Printing Ink Reports Strong Financial Growth and Announces Stock Split

Tokyo Printing Ink Manufacturing Co., Ltd. reported a significant increase in its financial performance for the six months ending September 30, 2025, with net sales rising by 9.3% and operating profit surging by 309.5%. The company also announced a planned stock split and revised dividend forecasts, which could have implications for shareholders and market positioning.

The most recent analyst rating on (JP:4635) stock is a Buy with a Yen7903.00 price target. To see the full list of analyst forecasts on Tokyo Printing Ink Manufacturing Co., Ltd. stock, see the JP:4635 Stock Forecast page.