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Tokai Carbon Co
(5301)
Tokai Carbon Co (5301) vs. iShares MSCI Japan ETF (EWJ)
Tokai Carbon Co Business Overview & Revenue Model
Tokai Carbon Co Financial Statement Overview
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 337.27B | 322.96B | 350.11B | 363.95B | 340.37B | 258.87B |
| Gross Profit | 81.30B | 74.85B | 80.64B | 98.73B | 94.05B | 70.73B |
| EBITDA | -5.70B | 58.44B | -3.95B | 80.78B | 78.14B | 54.52B |
| Net Income | -51.86B | 20.08B | -56.74B | 25.47B | 22.42B | 16.11B |
Balance Sheet | ||||||
| Total Assets | 606.57B | 664.03B | 640.75B | 640.00B | 576.47B | 512.50B |
| Cash, Cash Equivalents and Short-Term Investments | 72.22B | 90.16B | 92.21B | 77.47B | 70.91B | 78.86B |
| Total Debt | 198.54B | 216.57B | 199.11B | 166.64B | 171.45B | 168.25B |
| Total Liabilities | 298.52B | 311.18B | 315.60B | 279.90B | 275.60B | 255.94B |
| Stockholders Equity | 274.56B | 318.36B | 289.56B | 324.49B | 268.82B | 229.21B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 14.77B | 9.36B | 12.46B | -4.01B | 8.54B |
| Operating Cash Flow | 0.00 | 55.87B | 64.47B | 62.07B | 41.20B | 38.07B |
| Investing Cash Flow | 0.00 | -51.05B | -70.78B | -47.63B | -49.90B | -35.28B |
| Financing Cash Flow | 0.00 | -7.69B | 9.41B | -14.51B | -10.63B | 1.21B |
Tokai Carbon Co Technical Analysis
Tokai Carbon Co Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | ¥29.74B | 11.37 | ― | 3.21% | 9.61% | 173.72% | |
75 Outperform | ¥55.77B | 11.56 | 10.88% | 4.46% | -1.14% | 34.15% | |
74 Outperform | ¥38.97B | 26.79 | ― | 3.24% | 1.83% | -8.54% | |
72 Outperform | ¥31.64B | 15.35 | ― | 3.84% | -3.41% | -12.83% | |
69 Neutral | ¥61.84B | 17.37 | ― | 4.32% | -31.99% | -44.75% | |
63 Neutral | ¥237.63B | 11.84 | -14.04% | 3.06% | -7.36% | -574.56% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% |
Tokai Carbon Co Corporate Events
Tokai Carbon outlined progress on its long-term “Vision 2030,” reaffirming its goal of contributing to a sustainable society through advanced materials and solutions, with 2030 targets of ¥500 billion in net sales, a 20% EBITDA margin, and a 12% ROIC. To reach these goals, it plans to capture AI-driven demand to offset near-term EV weakness, expand capacity in Fine Carbon and Industrial Furnaces, push into new business domains, and pursue eco-focused innovations such as carbon black from end-of-life tires and converting CO2 from waste treatment into solid carbon.
The company is also undertaking drastic structural reforms to turn its Smelting & Lining business into a value-creating unit and is tightening capital efficiency management to lift its valuation metrics. It is targeting an early achievement of a price-to-book ratio above 1.0 by raising ROE above its cost of capital, improving ROIC by segment, optimizing capital structure including the use of debt, and enhancing disclosure and investor relations to support sustained improvements in PER and overall corporate value.
The most recent analyst rating on (JP:5301) stock is a Hold with a Yen991.00 price target. To see the full list of analyst forecasts on Tokai Carbon Co stock, see the JP:5301 Stock Forecast page.
Tokai Carbon announced a series of management changes effective March 27, 2026, including the appointment of Akihiko Sato and Tsunayuki Sato as board members overseeing corporate planning, along with two new external directors, Kimiya Sano and Akira Takada. These board appointments, subject to approval at the FY2025 shareholders’ meeting, aim to strengthen corporate planning and governance as the company navigates its next phase of growth.
The company also detailed several retirements and role changes, including the exit of board members such as technology head Shunji Yamamoto and external director Nobumitsu Kambayashi, and the promotion of executives like Atsuhiro Nihei and Yohei Kataoka to executive officer roles in internal auditing and ICT promotion. Additional shifts in executive responsibilities, including for engineering and general affairs functions, signal an organizational realignment intended to bolster oversight, internal controls, and business rebuilding efforts, with implications for operational efficiency and stakeholder confidence.
The most recent analyst rating on (JP:5301) stock is a Hold with a Yen991.00 price target. To see the full list of analyst forecasts on Tokai Carbon Co stock, see the JP:5301 Stock Forecast page.
Tokai Carbon Co., Ltd. plans to make an early repayment of its ¥25 billion subordinated loan, originally borrowed in 2019 to help finance the acquisition of COBEX HoldCo GmbH and affiliates, ahead of the initial optional repayment date in December 2026. To replace this funding, the company will issue a new series of yen-denominated fourth subordinated hybrid bonds, for which it has filed a revised shelf registration with the Kanto Local Finance Bureau.
The new hybrid bonds will have both debt- and equity-like features, including voluntary interest deferral, very long redemption periods, and subordination in liquidation, and are structured to avoid stock dilution while receiving 50 percent equity credit from domestic rating agencies. Tokai Carbon has appointed Nomura Securities as lead manager, alongside several co-lead underwriters, and will set final terms such as issue amount after assessing market demand and interest-rate conditions, signaling a proactive approach to capital structure management and credit profile maintenance.
The most recent analyst rating on (JP:5301) stock is a Hold with a Yen991.00 price target. To see the full list of analyst forecasts on Tokai Carbon Co stock, see the JP:5301 Stock Forecast page.
Tokai Carbon reported a 7.8% decline in 2025 net sales to ¥322.96 billion but sharply improved profitability, with operating income up 33.3% to ¥25.85 billion and net income rebounding to ¥20.08 billion from a large loss a year earlier. Profitability ratios strengthened, equity increased, and the equity ratio rose to 47.9%, while operating cash flow stayed solid at ¥50.6 billion despite continued heavy investment outflows.
The company maintained its annual dividend at ¥30 per share for 2025 and plans the same for 2026, implying a higher payout ratio on lower forecast earnings. For 2026, Tokai Carbon guides for modest sales growth to ¥336 billion but expects lower operating and ordinary income and a roughly 50% drop in net income, signaling margin pressure ahead despite a stronger balance sheet, which will be closely watched by shareholders and creditors.
The most recent analyst rating on (JP:5301) stock is a Hold with a Yen991.00 price target. To see the full list of analyst forecasts on Tokai Carbon Co stock, see the JP:5301 Stock Forecast page.
Tokai Carbon Co., Ltd. has announced changes in its management team, effective January 1, 2026. These changes involve the appointment of Takashi Masaki as a Member of the Board and Executive Officer, and Hideo Shin as Co-Chief Executive Officer of Tokai COBEX, reflecting a strategic restructuring to enhance leadership and operational efficiency.
The most recent analyst rating on (JP:5301) stock is a Hold with a Yen1047.00 price target. To see the full list of analyst forecasts on Tokai Carbon Co stock, see the JP:5301 Stock Forecast page.
Tokai Carbon Co., Ltd. has announced a reorganization of its U.S. subsidiaries, integrating three wholly-owned subsidiaries into one entity to enhance business efficiency and competitiveness. The reorganization, effective January 1, 2026, will see the surviving company become a subsidiary of Tokai Carbon US Holdings Inc., strengthening group governance. The impact on the company’s fiscal results is expected to be insignificant.
The most recent analyst rating on (JP:5301) stock is a Hold with a Yen1047.00 price target. To see the full list of analyst forecasts on Tokai Carbon Co stock, see the JP:5301 Stock Forecast page.