Togami Electric Mfg.Co., Ltd. (6643) AI Stock Analysis

• Market Cap: ¥22.08B
• Dividend Yield: 3.12%
• Average Volume (3M): 7.25K
• Price to Earnings (P/E): 9.9
• Beta (1Y): 0.72
• Revenue Growth: 6.60%
• EPS Growth: 0.27%
• Country: JP
• Employees: 1,083
• Sector: Industrials
• Sector Strength: 72
• Industry: Electrical Equipment & Parts
• EPS (TTM): N/A
• Shares Outstanding: 4,795,458
• 10 Day Avg. Volume: 4,660
• 30 Day Avg. Volume: 7,246
• PEG Ratio: 0.42
• Price to Book (P/B): 0.73
• Price to Sales (P/S): 0.59
• P/FCF Ratio: 16.36
• 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: 78 Outperform
• Price Target: ¥5,330.00 ▲(17.14% Upside)

Togami Electric Mfg. Co., Ltd. scores well due to its strong financial performance and attractive valuation. The technical analysis suggests potential for future growth despite current short-term bearish trends. The absence of earnings call and corporate events data does not impact the score significantly.

Positive Factors

Strong capital structure

A rising equity base and very low leverage create a durable financial buffer that supports capital expenditure, working capital needs, and selective M&A without stressing credit metrics. This structural strength reduces default risk and preserves strategic flexibility over the next 2–6 months.

Robust free cash flow generation

Consistent and growing free cash flow underpins sustainable reinvestment, dividend capacity, and deleveraging. Strong cash conversion ratios indicate operational resilience and fund internal growth or capital returns without relying on external financing, a durable positive for liquidity and execution.

Consistent revenue and profitability

Steady top-line expansion alongside healthy gross and EBIT margins signals durable demand for core electrical equipment and effective cost control. This combination supports sustainable earnings power, enabling continued investment in product development and stable cash returns to shareholders.

Negative Factors

Margin variability

Moderate year-to-year margin swings indicate exposure to input cost volatility or demand cyclicality in electrical equipment. Persistent variability can impair earnings predictability, complicate long-term planning and capital allocation, and require ongoing operational focus to stabilize profitability.

Limited public earnings engagement

Absence of earnings calls or formal guidance reduces transparency and investor visibility into backlog, demand trends, and management's strategic priorities. Over the medium term this can hinder market confidence, slow information flow on execution, and constrain external stakeholder assessment of stewardship.

Modest organic growth rate

Mid-single-digit revenue growth suggests limited organic expansion in core markets; sustainable shareholder returns will hinge on margin improvement, efficiency gains, or M&A. In a capital-intensive industry, modest growth raises the bar for operational excellence to drive attractive long-term returns.

Togami Electric Mfg.Co., Ltd. Business Overview & Revenue Model

Company Description

Togami Electric Mfg. Co., Ltd. manufactures and sells tracing devices and measuring instruments, control equipment, switchboards, and medium voltage products in Japan and internationally. The company offers super line checkers, underground distribution fault locators, string tracers, cell line checkers, and new cell line checkers. It also provides electromagnetic switches, including standard and economical electromagnetic switches, reversing magnetic starters/contactors, magnetic and thermal overload relays, and star-delta starters; explosion proof controllers, such as explosion-proof circuit breakers, combination starters, magnetic motor starters, and cast iron and aluminum alloy control switches; and anticorrosion controllers comprising water- and corrosion-proof switches, and corrosion-proof magnetic motor and combination starters. In addition, the company offers metal-enclosed switchgears, low-voltage switchgears, and various motor control centers, as well as medium-voltage overhead distribution products. Togami Electric Mfg. Co., Ltd. was founded in 1925 and is headquartered in Saga, Japan.

How the Company Makes Money

Togami Electric generates revenue through the sale of its electrical components and devices to a broad customer base that includes manufacturers and distributors in multiple sectors. The company’s key revenue streams come from the production and sale of relays, connectors, and other electronic parts, which are essential for the functionality of numerous electronic systems. Additionally, Togami Electric benefits from long-term partnerships with major clients and industries, helping to secure steady orders and contracts. The company's focus on research and development also enables it to create innovative products that meet evolving market demands, further enhancing its profitability.

Togami Electric Mfg.Co., Ltd. Financial Statement Overview

Summary

Togami Electric Mfg. Co., Ltd. exhibits strong financial health with consistent revenue and profit growth, a robust balance sheet, and strong cash flow generation. The company maintains low leverage while increasing equity, showcasing financial stability and growth potential.

Income Statement

The company demonstrates strong revenue growth, with a steady increase from 22.6 billion in 2021 to 27.6 billion in 2025. Gross Profit Margin and EBIT Margin have remained healthy, reflecting efficient cost management. Net Profit Margin is also strong, indicating solid profitability. However, margins have shown moderate variations over the years, suggesting room for stability improvement.

Balance Sheet

The balance sheet showcases a robust equity position with a consistent increase in stockholders' equity from 15.4 billion in 2020 to 22.4 billion in 2025. The Debt-to-Equity Ratio remains very low, highlighting low financial leverage and risk. The Equity Ratio is strong, reflecting a solid capital structure. Overall, the balance sheet is stable and well-capitalized.

Cash Flow

Free Cash Flow has grown significantly, indicating strong cash generation capabilities. Operating Cash Flow to Net Income Ratio is healthy, demonstrating efficient cash conversion. The Free Cash Flow to Net Income Ratio further supports the company's ability to generate cash relative to its earnings. The cash flow statement signifies strong liquidity and operational efficiency.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	27.97B	27.65B	26.73B	24.81B	23.58B	22.59B
Gross Profit	7.10B	7.17B	6.20B	5.27B	4.81B	4.87B
EBITDA	3.62B	4.02B	3.75B	2.81B	2.46B	2.50B
Net Income	2.24B	2.39B	2.09B	1.43B	1.29B	1.33B
Balance Sheet
Total Assets	31.99B	32.40B	31.40B	28.82B	26.83B	25.75B
Cash, Cash Equivalents and Short-Term Investments	7.79B	7.71B	7.12B	6.81B	6.56B	6.65B
Total Debt	850.05M	766.77M	338.25M	354.68M	380.88M	396.58M
Total Liabilities	9.37B	9.75B	10.30B	9.91B	9.16B	9.09B
Stockholders Equity	22.37B	22.40B	20.88B	18.73B	17.50B	16.51B
Cash Flow
Free Cash Flow	0.00	1.00B	642.29M	719.57M	978.43M	1.33B
Operating Cash Flow	0.00	2.81B	2.15B	1.50B	1.80B	1.91B
Investing Cash Flow	0.00	-1.62B	-1.54B	-874.74M	-1.52B	-585.42M
Financing Cash Flow	0.00	-705.97M	-438.44M	-423.68M	-453.46M	-391.81M

Togami Electric Mfg.Co., Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 4550.00
• 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:6643, the sentiment is Positive. The current price of 4550 is below the 20-day moving average (MA) of 4559.00, above the 50-day MA of 4281.90, and above the 200-day MA of 3806.16, indicating a bullish trend. The MACD of 109.17 indicates Negative momentum. The RSI at 62.51 is Neutral, neither overbought nor oversold. The STOCH value of 45.46 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:6643.

Togami Electric Mfg.Co., Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
6647	80 Outperform	¥3.30B	5.76	―	2.20%	14.26%	280.42%
6643	78 Outperform	¥22.08B	9.85	―	3.12%	6.60%	0.27%
6994	77 Outperform	¥30.16B	12.72	―	2.35%	5.15%	480.70%
6637	72 Outperform	¥57.20B	11.91	―	0.91%	5.28%	18.38%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
6882	61 Neutral	¥14.24B	157.11	―	4.42%	-11.74%	-84.61%