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Toyo Engineering Corporation
(6330)
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Rating:42Neutral
Price Target:
¥1,757.00
▼(-42.95% Downside)
Action:Reiterated
Date:05/15/26
The score is primarily constrained by sharply deteriorating financial performance (large 2026 revenue decline and deep losses) and weak technicals (price below all key moving averages with negative MACD). Valuation offers only limited offset because the negative P/E reflects loss-making conditions and the dividend yield is modest.
Positive Factors
EPC business model
Toyo's integrated EPC model—covering engineering, procurement, construction and commissioning—creates durable multi‑year project engagements. Serving complex energy and petrochemical plants builds technical stickiness, recurring lifecycle work and client relationships that support medium‑term revenue visibility.
Negative Factors
Revenue & profit collapse
A ~31% revenue drop and a swing to deep losses reflect high sensitivity to project timing and contract exposure. Such severe downside in top line and earnings undermines backlog conversion, raises impairment and credit risks, and weakens the firm's capacity to absorb future project overruns over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
EPC business model
Toyo's integrated EPC model—covering engineering, procurement, construction and commissioning—creates durable multi‑year project engagements. Serving complex energy and petrochemical plants builds technical stickiness, recurring lifecycle work and client relationships that support medium‑term revenue visibility.
Read all positive factors
Toyo Engineering Corporation (6330) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥92.12B
Dividend Yield0.96%
Average Volume (3M)1.77M
Price to Earnings (P/E)―
Beta (1Y)2.15
Revenue Growth-34.22%
EPS Growth-825.18%
CountryJP
Employees4,094
SectorIndustrials
Sector Strength72
IndustryEngineering & Construction
Share Statistics
EPS (TTM)30.78
Shares Outstanding38,558,506
10 Day Avg. Volume2,851,550
30 Day Avg. Volume1,771,820
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)2.39
Price to Sales (P/S)0.57
P/FCF Ratio11.92
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)117.4
Revenue Forecast (FY)¥230.00B
Toyo Engineering Corporation Business Overview & Revenue Model
Company Description
Toyo Engineering Corporation is a global enterprise specializing in the engineering and construction of industrial facilities. With operations spanning Japan, India, Russia, and various international markets, the company provides a comprehensive s...
How the Company Makes Money
Toyo Engineering primarily makes money by executing project-based EPC and related contracts for industrial plants and facilities. Under these contracts, revenue is generated from: (1) Engineering services—front-end and detailed engineering/design,...
Toyo Engineering Corporation Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
50
Neutral
Cash Flow
46
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 264.59B | 182.94B | 278.09B | 260.82B | 192.91B | 202.99B |
| Gross Profit | 26.45B | 6.45B | 25.21B | 27.49B | 23.45B | 20.04B |
| EBITDA | 8.13B | -5.27B | 8.98B | 15.00B | 6.87B | 5.28B |
| Net Income | 1.51B | -14.94B | 2.02B | 9.82B | 1.65B | 1.62B |
Balance Sheet | ||||||
| Total Assets | 252.57B | 261.14B | 286.60B | 286.00B | 256.31B | 240.85B |
| Cash, Cash Equivalents and Short-Term Investments | 79.55B | 105.25B | 90.32B | 119.86B | 108.52B | 92.15B |
| Total Debt | 51.14B | 60.82B | 51.91B | 36.28B | 36.59B | 36.68B |
| Total Liabilities | 195.01B | 217.43B | 226.35B | 221.84B | 207.20B | 196.29B |
| Stockholders Equity | 57.35B | 43.51B | 60.01B | 63.94B | 48.92B | 44.39B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 8.74B | -27.18B | 4.63B | 14.64B | -7.56B |
| Operating Cash Flow | 0.00 | 9.30B | -23.09B | 6.00B | 15.59B | -6.79B |
| Investing Cash Flow | 0.00 | 159.00M | -19.77B | 7.34B | -9.47B | -7.85B |
| Financing Cash Flow | 0.00 | 6.26B | 674.00M | -1.06B | -1.57B | 7.61B |
Toyo Engineering Corporation Technical Analysis
Neutral
3080.00
Price Trends
2107.42
Negative
2659.98
Negative
2789.80
Negative
Market Momentum
-24.32
Negative
51.07
Neutral
36.63
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:6330, the sentiment is Neutral. The current price of 3080 is above the 20-day moving average (MA) of 2005.35, above the 50-day MA of 2107.42, and above the 200-day MA of 2789.80, indicating a neutral trend. The MACD of -24.32 indicates Negative momentum. The RSI at 51.07 is Neutral, neither overbought nor oversold. The STOCH value of 36.63 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for JP:6330.
Toyo Engineering Corporation Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | ¥296.44B | 15.70 | 7.43% | 2.78% | 2.69% | -6.83% | |
78 Outperform | ¥1.38T | 21.31 | 14.94% | 2.00% | 10.44% | 50.36% | |
78 Outperform | ¥649.80B | 16.13 | ― | 2.15% | 0.46% | 38.67% | |
71 Outperform | ¥592.31B | 14.44 | -0.24% | 2.10% | -13.15% | ― | |
69 Neutral | ¥179.72B | 2.09 | 164.12% | ― | 8.09% | 213.68% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
42 Neutral | ¥92.12B | -8.39 | -33.76% | 0.96% | -34.22% | -825.18% |
* Industrials Sector Average
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Toyo Engineering Corporation Corporate Events
Toyo Engineering to Streamline Share Structure and Add Flexibility to Top Management Rules
May 14, 2026
Toyo Engineering’s board has approved amendments to its Articles of Incorporation to be put before shareholders at the June 25, 2026 annual meeting, reflecting recent changes in its capital structure and governance. Following the full acquis...
Toyo Engineering to Reclassify Reserves to Repair Balance Sheet and Restart Dividends
May 14, 2026
Toyo Engineering Corporation has resolved to propose a reduction of its capital reserve and an appropriation of surplus at its June 25 annual shareholders’ meeting, aiming to cover retained earnings deficits. The move is designed to strength...
Toyo Engineering Swings to Loss but Forecasts Profit and Dividend Rebound
May 14, 2026
Toyo Engineering reported a steep downturn for the fiscal year ended March 31, 2026, with net sales falling 34.2% to ¥182.9 billion and swinging to an operating loss of ¥19.0 billion and a net loss of ¥14.9 billion, compared with a ...
Toyo Engineering Maps Dual-Revenue Shift and Return to Profitability
May 14, 2026
Toyo Engineering has outlined a five-year phase to build a dual-revenue model that combines traditional project-based EPC income with a growing stream of recurring revenues, while reaffirming its FY2030 net profit target of ¥10 billion. The c...
Toyo Engineering Director to Retire as Board Lineup Reset After Share Sale
Apr 23, 2026
Toyo Engineering Corporation has announced that Director Reijiro Yamamoto will retire at the conclusion of the Annual General Meeting of Shareholders scheduled for June 25, 2026. His planned reappointment has been withdrawn following the sale of a...
Toyo Engineering to Cancel All Class A Preferred Shares, Streamlining Capital Structure
Apr 23, 2026
Toyo Engineering Corporation has resolved to cancel all of its Class A preferred shares, totaling 6,240,200 shares, in a move approved by its Board of Directors under Japan’s Companies Act. The cancellation, effective April 30, 2026, will le...
Toyo Engineering Eliminates Class A Preferred Shares Through Full Conversion
Apr 10, 2026
Toyo Engineering Corporation announced that shareholders Integral Team Limited Partnership and Innovation Alpha Team L.P. have fully converted their 500,100 Class A preferred shares into an equivalent number of common shares, eliminating all outst...
Toyo Engineering Reshapes Capital Structure With Large Preferred-to-Common Share Conversion
Apr 1, 2026
Toyo Engineering Corporation announced that major shareholders Integral Team Limited Partnership and Innovation Alpha Team L.P. have partially converted their Class A preferred shares into common shares under the company’s Articles of Associ...
Toyo Engineering to Cancel Majority of Class A Preferred Shares
Mar 23, 2026
Toyo Engineering Corporation has resolved, via written resolution in place of a board meeting, to cancel 14,030,100 Class A preferred shares, representing 69.22% of the outstanding Class A preferred stock as of February 28, 2026. Effective March 3...
Toyo Engineering Dilution Pushes Mitsui Chemicals Below Major Shareholder Threshold
Mar 18, 2026
Toyo Engineering Corporation announced that a change in its major shareholders is expected following the conversion of Class A preferred shares into common shares by certain investors. This conversion increased the company’s common shares by...
Toyo Engineering Sees Major Holders Convert Preferred Shares to Common Stock
Mar 18, 2026
Toyo Engineering Corporation announced that major shareholders Integral Team Limited Partnership and Innovation Alpha Team L.P. have partially converted their Class A preferred shares into common shares under the company’s Articles of Associ...
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.