Toppan Printing Co Ltd (JP:7911)
:7911
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Toppan Printing Co
(7911)
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Rating:74Outperform
Price Target:
¥5,072.00
▲(8.24% Upside)
Action:ReiteratedDate:11/28/25
Toppan Printing Co's stock score is driven by strong financial performance and bullish technical indicators. The company's robust revenue growth and profitability are offset by cash flow challenges. The technical analysis indicates strong momentum, though overbought conditions suggest caution. Valuation metrics show the stock is fairly valued, with a moderate dividend yield.
Positive Factors
Balance sheet strength
Prudent leverage and a strong equity base provide financial flexibility for capex, M&A or downturns. A low debt-to-equity ratio and >50% equity ratio reduce refinancing risk and support consistent investment in value-added capabilities without overstressing liquidity.
Negative Factors
Negative free cash flow
Large capex drove negative free cash flow, creating near-term liquidity pressure despite operating profitability. If elevated investment levels persist, FCF deficits could constrain dividends, debt paydown or require external financing, reducing financial optionality over months.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance sheet strength
Prudent leverage and a strong equity base provide financial flexibility for capex, M&A or downturns. A low debt-to-equity ratio and >50% equity ratio reduce refinancing risk and support consistent investment in value-added capabilities without overstressing liquidity.
Read all positive factors
Toppan Printing Co (7911) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥1.29T
Dividend Yield1.07%
Average Volume (3M)1.05M
Price to Earnings (P/E)11.7
Beta (1Y)1.01
Revenue Growth3.01%
EPS Growth6.48%
CountryJP
Employees53,712
SectorIndustrials
Sector Strength72
IndustrySpecialty Business Services
Share Statistics
EPS (TTM)99.07
Shares Outstanding294,706,240
10 Day Avg. Volume1,089,770
30 Day Avg. Volume1,053,650
Financial Highlights & Ratios
PEG Ratio0.49
Price to Book (P/B)0.95
Price to Sales (P/S)0.71
P/FCF Ratio-20.98
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥6,497.69Price Target Upside38.66% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)228.59
Revenue Forecast (FY)¥1.79T
Toppan Printing Co Business Overview & Revenue Model
Company Description
Toppan Inc. develops solutions based on its printing technologies worldwide. The company offers security documents, business forms, data printing services, smart and other cards, in-store instant smart cards, gift card ASP services, RFID tags and ...
How the Company Makes Money
Toppan generates revenue primarily by manufacturing and selling printed and processed products and by providing related services to corporate, institutional, and consumer-facing clients. Key revenue streams include: (1) Printing-related sales, whe...
Toppan Printing Co Earnings Call Summary
Earnings Call Date:Nov 13, 2024
(Q2-2024)
| % Change Since: |
Next Earnings Date:May 08, 2026
Earnings Call Sentiment Neutral
The earnings call presented a mix of positive and negative aspects. While the semiconductor segment showed significant growth and there was an improvement in cash flow, the overall decline in profit and challenges in the Information & Communications segment are concerning. The strategic reduction of shareholdings and confidence in achieving full-year targets provide a positive outlook.Positive Updates
Growth in Semiconductor Segment
Semiconductor profits expanded by JPY 7.4 billion, led mainly by FC-BGA and photomasks. Sales of FC-BGA substrates and photomasks increased significantly.
Negative Updates
Decline in Overall Profit
Operating profit was down 11.4% to JPY 25.3 billion, and ordinary profit was down 13.4% to JPY 32.5 billion. Profit attributable to owners of the parent decreased by 66.1% to JPY 18 billion.
Read all updates
Q2-2024 Updates
Positive
Negative
Growth in Semiconductor Segment
Semiconductor profits expanded by JPY 7.4 billion, led mainly by FC-BGA and photomasks. Sales of FC-BGA substrates and photomasks increased significantly.
Read all positive updates
Company Guidance
During the earnings call for the first half of fiscal 2023, the company reported a slight decline in net sales by 0.2% year-on-year to JPY 800.2 billion, with operating profit decreasing by 11.4% to JPY 25.3 billion. Ordinary profit fell by 13.4% to JPY 32.5 billion, and profit attributable to owners of the parent plunged by 66.1% to JPY 18 billion. Despite these declines, the semiconductor segment saw a significant profit boost of JPY 7.4 billion, driven by increased sales of FC-BGA substrates and photomasks. The Information & Communications segment experienced a 2.4% drop in sales to JPY 414 billion, with operating profit down 7.8% to JPY 11 billion. Conversely, the Electronics business segment reported a 4.1% increase in sales to JPY 133.8 billion and a 7.4% rise in operating profit to JPY 22.4 billion. The company maintained a positive outlook for the full fiscal year, revising the profit attributable to owners of the parent upwards to JPY 68 billion, influenced by currency fluctuations and strategic business expansions. They also announced cash flow from operating activities at JPY 65.2 billion, a year-on-year increase of JPY 26.7 billion, and a free cash flow of JPY 32.7 billion.Toppan Printing Co Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
75
Positive
Cash Flow
65
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.71T | 1.72T | 1.68T | 1.64T | 1.55T | 1.47T |
| Gross Profit | 415.57B | 413.04B | 387.41B | 362.16B | 334.76B | 301.40B |
| EBITDA | 253.70B | 258.59B | 218.12B | 189.33B | 251.51B | 198.96B |
| Net Income | 88.73B | 89.35B | 74.39B | 60.87B | 123.18B | 82.00B |
Balance Sheet | ||||||
| Total Assets | 2.44T | 2.52T | 2.43T | 2.24T | 2.29T | 2.36T |
| Cash, Cash Equivalents and Short-Term Investments | 376.26B | 778.59B | 558.03B | 504.92B | 464.65B | 543.39B |
| Total Debt | 476.68B | 487.83B | 227.22B | 239.04B | 262.80B | 333.52B |
| Total Liabilities | 1.04T | 1.10T | 865.58B | 786.65B | 850.98B | 910.34B |
| Stockholders Equity | 1.27T | 1.29T | 1.42T | 1.33T | 1.37T | 1.32T |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -58.33B | 75.35B | 40.69B | 22.21B | 20.25B |
| Operating Cash Flow | 0.00 | 64.80B | 157.13B | 106.08B | 64.75B | 76.86B |
| Investing Cash Flow | 0.00 | 47.02B | -3.78B | -29.95B | 32.80B | 81.31B |
| Financing Cash Flow | 0.00 | 120.33B | -90.17B | -51.59B | -186.96B | 42.15B |
Toppan Printing Co Technical Analysis
Neutral
4686.00
Price Trends
4872.58
Negative
4679.51
Positive
4254.87
Positive
Market Momentum
-64.63
Positive
42.88
Neutral
13.24
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:7911, the sentiment is Neutral. The current price of 4686 is below the 20-day moving average (MA) of 5071.50, below the 50-day MA of 4872.58, and above the 200-day MA of 4254.87, indicating a neutral trend. The MACD of -64.63 indicates Positive momentum. The RSI at 42.88 is Neutral, neither overbought nor oversold. The STOCH value of 13.24 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for JP:7911.
Toppan Printing Co Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | ¥1.44T | 11.76 | 7.04% | 1.47% | 3.37% | -31.10% | |
74 Outperform | ¥1.29T | 11.67 | 6.28% | 1.07% | 3.01% | 6.48% | |
71 Outperform | ¥115.05B | 21.77 | 19.59% | 0.16% | 18.08% | 136.77% | |
68 Neutral | ¥42.24B | 7.42 | ― | 3.71% | -0.04% | 93.95% | |
66 Neutral | ¥3.59B | 6.84 | ― | 3.69% | 0.62% | -24.08% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
61 Neutral | ¥5.64B | -22.35 | ― | 2.72% | -1.30% | ― |
* Industrials Sector Average
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Toppan Printing Co Corporate Events
TOPPAN Advances Share Buyback, Nears Cap on ¥30 Billion Program
Mar 2, 2026
TOPPAN Holdings Inc., a major Japanese printing and information solutions group, is continuing its shareholder return program through the acquisition of its own common shares on the Tokyo Stock Exchange. The latest purchases were conducted under a...
TOPPAN Nears Upper Limit of ¥30 Billion Share Buyback Program
Feb 2, 2026
TOPPAN Holdings has disclosed the latest progress of its ongoing share buyback program, authorized by its board in May 2025 under Article 459 of the Companies Act, which allows acquisition of its own common shares within prescribed limits. Between...
TOPPAN Holdings Updates Progress on ¥30 Billion Share Buyback Program
Jan 5, 2026
TOPPAN Holdings Inc. has disclosed the latest status of its ongoing share buyback program authorized by its board in May 2025, under which the company is permitted to repurchase up to 11 million shares for a total of up to 30 billion yen through m...
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.