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Toyo Securities Co., Ltd.
(8614)
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Rating:59Neutral
Price Target:
¥680.00
▲(5.26% Upside)
Action:Reiterated
Date:08/04/26
The score is held back primarily by weak and inconsistent cash-flow conversion and revenue volatility despite improved reported profitability. Valuation is a key positive, supported by a low P/E and strong dividend yield. Technical indicators are broadly neutral, providing only modest support.
Positive Factors
Improved profitability / high net margins
A sustained rebound to high reported net margins (~29% in 2026) indicates stronger pricing and cost control versus recent years. This level of profitability, if maintained, provides durable earnings power, supports reinvestment and capacity for dividends, and helps absorb market shocks.
Negative Factors
Weak and volatile cash generation
Negative operating and free cash flow in several years, including 2026 despite positive net income, shows poor earnings-to-cash conversion. This increases funding risk for dividends, underwriting commitments and working capital, and signals structural volatility in liquidity over months.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved profitability / high net margins
A sustained rebound to high reported net margins (~29% in 2026) indicates stronger pricing and cost control versus recent years. This level of profitability, if maintained, provides durable earnings power, supports reinvestment and capacity for dividends, and helps absorb market shocks.
Read all positive factors
Toyo Securities Co., Ltd. (8614) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥47.09B
Dividend Yield4.47%
Average Volume (3M)448.23K
Price to Earnings (P/E)9.1
Beta (1Y)0.88
Revenue Growth21.70%
EPS Growth93.38%
CountryJP
Employees632
SectorFinancial
Sector Strength70
IndustryInvestment - Banking & Investment Services
Share Statistics
EPS (TTM)74.90
Shares Outstanding73,877,570
10 Day Avg. Volume473,140
30 Day Avg. Volume448,233
Financial Highlights & Ratios
PEG Ratio0.21
Price to Book (P/B)1.51
Price to Sales (P/S)3.10
P/FCF Ratio-11.11
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)N/A
Revenue Forecast (FY)N/A
Toyo Securities Co., Ltd. Business Overview & Revenue Model
Company Description
Toyo Securities Co., Ltd. provides financial products brokerage services in Japan. The company offers asset management and investment advice; consultancy on capital policies; support for IR; and other services. It is also involved in the buying an...
How the Company Makes Money
Toyo Securities generates revenue primarily through securities business income tied to customer transactions and product distribution. Key revenue streams typically include: (1) brokerage commissions and fees earned when clients buy and sell secur...
Toyo Securities Co., Ltd. Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
66
Positive
Cash Flow
38
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 16.67B | 14.98B | 11.29B | 12.02B | 8.34B | 10.86B |
| Gross Profit | 15.57B | 14.01B | 10.99B | 11.79B | 8.14B | 10.77B |
| EBITDA | 6.11B | 4.99B | 912.00M | 1.29B | -1.69B | 568.00M |
| Net Income | 5.09B | 3.94B | 2.65B | 1.30B | -2.96B | 875.00M |
Balance Sheet | ||||||
| Total Assets | 79.35B | 71.86B | 69.39B | 80.75B | 66.12B | 80.37B |
| Cash, Cash Equivalents and Short-Term Investments | 23.50B | 22.72B | 22.46B | 25.75B | 24.17B | 29.33B |
| Total Debt | 12.38B | 14.66B | 11.36B | 10.01B | 10.26B | 15.76B |
| Total Liabilities | 50.79B | 41.31B | 39.26B | 41.35B | 31.99B | 41.94B |
| Stockholders Equity | 28.56B | 30.64B | 30.12B | 39.40B | 34.20B | 38.44B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -4.18B | 518.00M | 2.95B | -2.89B | -6.73B |
| Operating Cash Flow | 0.00 | -3.77B | 853.00M | 3.49B | -2.58B | -4.07B |
| Investing Cash Flow | 0.00 | 2.18B | 2.29B | 1.51B | 78.00M | 70.00M |
| Financing Cash Flow | 0.00 | -2.11B | -5.46B | -2.10B | -4.65B | -495.00M |
Toyo Securities Co., Ltd. Technical Analysis
Positive
646.00
Price Trends
635.82
Positive
649.18
Positive
632.58
Positive
Market Momentum
8.29
Positive
56.70
Neutral
74.54
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:8614, the sentiment is Positive. The current price of 646 is below the 20-day moving average (MA) of 665.30, above the 50-day MA of 635.82, and above the 200-day MA of 632.58, indicating a bullish trend. The MACD of 8.29 indicates Positive momentum. The RSI at 56.70 is Neutral, neither overbought nor oversold. The STOCH value of 74.54 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:8614.
Toyo Securities Co., Ltd. Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | ¥81.08B | 15.97 | 10.18% | 6.15% | 18.06% | 17.31% | |
77 Outperform | ¥101.12B | 8.64 | ― | 5.75% | 38.76% | 64.54% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
67 Neutral | ¥246.41B | 7.99 | ― | 4.01% | 38.46% | 176.98% | |
66 Neutral | ¥276.08B | 15.10 | 19.66% | 5.13% | 43.71% | 73.74% | |
62 Neutral | ¥52.78B | 14.39 | ― | 4.36% | 18.11% | 47.75% | |
59 Neutral | ¥47.09B | 9.12 | ― | 4.86% | 21.70% | 93.38% |
* Financial Sector Average
JP:8614
Toyo Securities Co., Ltd.
671.00
186.86
38.60%
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36.44%
Toyo Securities Co., Ltd. Corporate Events
Toyo Securities Delivers Profit Surge but Keeps Guidance Cautious as Equity Ratio Falls
Jul 30, 2026
Toyo Securities Co., Ltd., a Tokyo Stock Exchange-listed securities company, focuses on securities-related businesses whose earnings are significantly swayed by Japan’s economic and market environment. Its reliance on trading and investment ...
Toyo Securities Posts Surge in Preliminary Q1 Profits on Higher Equity Commissions
Jul 15, 2026
Toyo Securities Co., Ltd. reported preliminary consolidated results for the three months ended June 30, 2026, showing a sharp improvement in profitability and revenue under Japanese GAAP. Operating revenue rose 56.1% year on year to ¥4,398 mi...
Toyo Securities Confirms ¥50 Year-End Dividend, Reaffirms High Payout Policy
May 15, 2026
Toyo Securities has approved a year-end dividend of ¥50 per share for the fiscal year ended March 31, 2026, matching both its prior forecast and the previous fiscal year’s payout, with a total distribution of ¥3,509 million funded ...
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.