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Toyo Tanso Co., Ltd.
(5310)
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Rating:68Neutral
Price Target:
¥7,870.00
▲(17.11% Upside)
Action:Downgraded
Date:06/09/26
The score is primarily supported by very strong balance-sheet quality and overall financial durability, but is held back by the 2025 profitability reset and especially the sharp swing to negative free cash flow. Technically, the uptrend is strong, yet overbought signals add near-term risk. Valuation is a notable headwind due to the high P/E and only modest dividend yield.
Positive Factors
Very strong balance sheet
Toyo Tanso's extremely low leverage and large equity base provide durable financial flexibility. This strength lets the company endure end-market cyclicality, fund customer qualification and capex, and pursue selective investments or partnerships without immediate liquidity pressure.
Negative Factors
2025 revenue and profitability reset
A material downshift in revenue and net margin signals persistent end‑market weakness or adverse pricing/mix trends. Such a reset reduces retained earnings and operational leeway, raising the risk that growth and margin recovery will take multiple quarters and require strategic adjustments.
Read all positive and negative factors
Positive Factors
Negative Factors
Very strong balance sheet
Toyo Tanso's extremely low leverage and large equity base provide durable financial flexibility. This strength lets the company endure end-market cyclicality, fund customer qualification and capex, and pursue selective investments or partnerships without immediate liquidity pressure.
Read all positive factors
Toyo Tanso Co., Ltd. (5310) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥138.84B
Dividend Yield2.19%
Average Volume (3M)165.19K
Price to Earnings (P/E)28.9
Beta (1Y)1.30
Revenue Growth-12.90%
EPS Growth-45.83%
CountryJP
Employees1,678
SectorIndustrials
Sector Strength72
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)228.73
Shares Outstanding20,992,588
10 Day Avg. Volume236,600
30 Day Avg. Volume165,186
Financial Highlights & Ratios
PEG Ratio-0.41
Price to Book (P/B)1.04
Price to Sales (P/S)2.19
P/FCF Ratio-17.52
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)254.09
Revenue Forecast (FY)¥48.66B
Toyo Tanso Co., Ltd. Business Overview & Revenue Model
Company Description
Toyo Tanso Co., Ltd., headquartered in Osaka, Japan, is a global producer and distributor of a wide range of carbon materials. Established in 1941 and originally known as Kondo Carbon Manufacturing Co., Ltd. until its renaming in November 1949, th...
How the Company Makes Money
Toyo Tanso makes money primarily by selling manufactured graphite materials and finished carbon/graphite components to industrial customers. Key revenue streams include: (1) materials sales—especially isotropic graphite blocks and other graphite m...
Toyo Tanso Co., Ltd. Financial Statement Overview
Summary
Income Statement
76
Positive
Balance Sheet
92
Very Positive
Cash Flow
54
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 45.29B | 46.19B | 53.09B | 49.25B | 43.77B | 37.73B |
| Gross Profit | 14.11B | 15.73B | 21.49B | 17.72B | 14.43B | 12.38B |
| EBITDA | 10.80B | 11.10B | 17.50B | 13.71B | 9.81B | 9.11B |
| Net Income | 4.80B | 5.46B | 9.96B | 7.51B | 5.18B | 4.46B |
Balance Sheet | ||||||
| Total Assets | 119.15B | 117.92B | 113.19B | 96.61B | 89.43B | 83.66B |
| Cash, Cash Equivalents and Short-Term Investments | 16.16B | 15.26B | 18.50B | 18.13B | 18.44B | 18.36B |
| Total Debt | 5.98B | 5.67B | 495.00M | 474.00M | 671.00M | 199.00M |
| Total Liabilities | 23.28B | 20.36B | 18.98B | 12.09B | 12.23B | 11.40B |
| Stockholders Equity | 95.80B | 97.49B | 94.15B | 84.47B | 77.15B | 72.20B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -5.77B | 2.78B | 1.52B | 1.41B | 2.25B |
| Operating Cash Flow | 0.00 | 6.07B | 9.49B | 6.22B | 5.63B | 7.33B |
| Investing Cash Flow | 0.00 | -11.31B | -6.31B | -2.69B | -5.25B | -6.25B |
| Financing Cash Flow | 0.00 | 2.40B | -2.56B | -1.97B | -1.39B | -1.26B |
Toyo Tanso Co., Ltd. Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | ¥144.11B | 8.89 | 11.21% | 3.42% | 81.06% | 65.37% | |
69 Neutral | ¥208.29B | 18.41 | ― | 1.53% | 16.79% | 100.39% | |
68 Neutral | ¥138.84B | 28.94 | 5.04% | 2.11% | -12.90% | -45.83% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
63 Neutral | ¥7.32T | 43.95 | 32.23% | 0.82% | 20.73% | 72.44% | |
62 Neutral | ¥51.33B | -15.07 | ― | 5.01% | -7.42% | -4245.20% | |
58 Neutral | ¥52.70B | 12.37 | ― | 0.91% | 11.44% | -4.10% |
* Industrials Sector Average
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Toyo Tanso Co., Ltd. Corporate Events
Toyo Tanso Misses First-Half Profit Forecasts on Weaker Semiconductor Components Demand
Aug 7, 2026
Toyo Tanso reported that its consolidated results for the first half of the fiscal year ending December 31, 2026 fell short of its earlier forecasts, with operating profit, ordinary profit, and profit attributable to owners of the parent all below...
Toyo Tanso Profit Slides in First Half, Keeps 2026 Dividend and Sales Growth Forecast
Aug 7, 2026
Toyo Tanso reported consolidated net sales of ¥22.37 billion for the six months ended June 30, 2026, down 2.7% year on year, with operating profit plunging 53.7% to ¥1.78 billion and profit attributable to owners of parent falling 37.4% ...
Toyo Tanso Q1 Profit Slumps but Full-Year Outlook and Dividend Plan Maintained
May 15, 2026
Toyo Tanso reported a weak start to 2026, with first-quarter net sales falling 7.8% year on year to ¥10.58 billion and operating profit plunging 70.3% to ¥634 million. Profit attributable to owners of the parent dropped 52.3% to ¥60...
Toyo Tanso Releases Outline of Q1 FY2026 Results
May 11, 2026
Toyo Tanso Co., Ltd. announced that it has prepared a summary of results for the first quarter of the fiscal year ending December 31, 2026. The release indicates that the company continues its standard practice of publishing quarterly financial in...
Toyo Tanso Profit Slumps in Q1 but Keeps 2026 Outlook and Dividend Plan
May 11, 2026
Toyo Tanso reported that net sales for the three months ended March 31, 2026 fell 7.8% year on year to ¥10.58 billion, while operating profit plunged 70.3% to ¥634 million and profit attributable to owners of parent dropped 52.3% to ...
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.