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

• Market Cap: ¥31.78B
• Dividend Yield: 3.12%
• Average Volume (3M): 7.25K
• Price to Earnings (P/E): 12.8
• 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): 176.16
• 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: 81 Outperform
• Price Target: ¥7,773.00 ▲(70.84% Upside)
• Action: Reiterated Date: 03/03/26
• Date: Action: Reiterated 03/03/26

The score is driven primarily by strong financial performance (solid growth, profitability, low leverage, and strengthening cash generation). Technicals are supportive due to a strong uptrend, but the very overbought RSI/Stoch readings temper the result. Valuation is also constructive with a moderate P/E and dividend yield.

Positive Factors

Strong Balance Sheet

A rising equity base and very low leverage provide durable financial flexibility: supports capital spending, cushions cyclical revenue shocks, preserves investment-grade-like resilience, and enables sustained dividends or opportunistic M&A without stressing liquidity.

Robust Cash Generation

Significant FCF growth and healthy OCF-to-income conversion mean the business can self-fund operations, capex, and shareholder returns. This underpins long-term reinvestment, reduces reliance on debt, and supports sustainable strategic initiatives.

Steady Revenue Growth & Healthy Margins

Consistent top-line growth paired with solid gross and EBIT margins indicates durable demand and effective cost management. That structural trend supports pricing power, margin sustainability, and predictable free cash flow over the medium term.

Negative Factors

Negative EPS Trend

Falling EPS despite revenue expansion suggests pressure on per-share profitability from costs, one-offs, or capital structure changes. Persistent EPS decline can constrain dividend growth, impair returns on equity, and weaken investor confidence over several quarters.

Margin Variability

Moderate fluctuations in gross and net margins point to exposure to input cost swings, project execution variability, or cyclical end markets. That instability can make cash flows less predictable and complicate long-term planning and capital allocation.

Limited Forward Visibility

Absence of formal forward guidance reduces external visibility into management's outlook and targets. Over a multi-month horizon this hampers investor planning, increases forecast dispersion, and can mask emerging operational or market headwinds.

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

Strong fundamentals overall: Income Statement (87) shows steady revenue growth and solid profitability, Balance Sheet (85) indicates a well-capitalized, low-leverage structure, and Cash Flow (83) reflects improving free cash flow and healthy cash conversion.

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	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
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: Negative
• STOCH: Negative

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 5231.75, below the 50-day MA of 4797.80, and above the 200-day MA of 4005.80, indicating a bullish trend. The MACD of 428.93 indicates Negative momentum. The RSI at 89.60 is Negative, neither overbought nor oversold. The STOCH value of 92.71 is Negative, 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
6643	81 Outperform	¥31.78B	12.78	―	3.12%	6.60%	0.27%
6647	76 Outperform	¥3.78B	5.14	―	2.20%	14.26%	280.42%
6994	74 Outperform	¥36.10B	13.86	―	2.35%	5.15%	480.70%
6637	72 Outperform	¥56.22B	12.54	―	0.91%	5.28%	18.38%
6748	70 Outperform	¥10.83B	8.70	―	2.23%	―	―
6882	65 Neutral	¥15.24B	173.69	―	4.42%	-11.74%	-84.61%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%