Tosei Corporation (JP:8923)
:8923
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Tosei
(8923)
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Rating:65Neutral
Price Target:
¥1,787.00
▲(0.00% Upside)
Action:ReiteratedDate:04/07/26
The score is driven mainly by strong profitability and growth trends, but is held back by weak cash conversion and elevated leverage. Valuation (low P/E and ~3% yield) is a meaningful positive, while technical indicators are currently mixed/neutral.
Positive Factors
Revenue growth and margin expansion
Tosei has grown revenue materially while expanding margins and sustaining mid‑20s EBIT/EBITDA margins. This combination indicates durable earnings power from operations, supporting reinvestment and strategic initiatives and making operating performance more resilient over the next several months.
Negative Factors
Elevated leverage
Leverage near 1.8x reduces financial flexibility and raises refinancing and interest‑rate sensitivity for a property operator. Increases funding costs or weaker property values could pressure cash flow cushions and constrain the company’s ability to pursue opportunistic acquisitions or cover volatility.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue growth and margin expansion
Tosei has grown revenue materially while expanding margins and sustaining mid‑20s EBIT/EBITDA margins. This combination indicates durable earnings power from operations, supporting reinvestment and strategic initiatives and making operating performance more resilient over the next several months.
Read all positive factors
Tosei (8923) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥167.41B
Dividend Yield2.95%
Average Volume (3M)136.85K
Price to Earnings (P/E)3.9
Beta (1Y)0.91
Revenue Growth17.74%
EPS Growth19.41%
CountryJP
Employees809
SectorReal Estate
Sector Strength53
IndustryReal Estate - Diversified
Share Statistics
EPS (TTM)104.99
Shares Outstanding97,367,600
10 Day Avg. Volume213,080
30 Day Avg. Volume136,853
Financial Highlights & Ratios
PEG Ratio0.47
Price to Book (P/B)1.54
Price to Sales (P/S)1.67
P/FCF Ratio-34.99
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥2,270.00Price Target Upside27.03% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)163.2
Revenue Forecast (FY)¥119.13B
Tosei Business Overview & Revenue Model
Company Description
Tosei Corporation operates in the revitalization, development, rental, fund and consulting, and property management businesses in Japan. The company acquires properties whose asset value has declined and improves value-up activities; develops offi...
How the Company Makes Money
Tosei Corporation generates revenue through several key streams. In its real estate revitalization segment, the company purchases underutilized or distressed properties, renovates them, and sells them at a profit. The real estate trading segment f...
Tosei Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
62
Positive
Cash Flow
38
Negative
| Breakdown | TTM | Nov 2025 | Nov 2024 | Nov 2023 | Nov 2022 | Nov 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 109.12B | 94.69B | 82.19B | 79.45B | 70.95B | 61.73B |
| Gross Profit | 41.94B | 37.59B | 33.00B | 28.07B | 23.14B | 18.68B |
| EBITDA | 27.86B | 24.71B | 20.71B | 18.25B | 15.48B | 12.71B |
| Net Income | 16.76B | 14.75B | 11.99B | 10.51B | 8.61B | 6.72B |
Balance Sheet | ||||||
| Total Assets | 300.37B | 307.43B | 276.82B | 245.33B | 210.96B | 195.01B |
| Cash, Cash Equivalents and Short-Term Investments | 46.22B | 39.60B | 34.87B | 39.20B | 31.77B | 33.56B |
| Total Debt | 171.80B | 184.04B | 165.90B | 146.59B | 124.85B | 114.95B |
| Total Liabilities | 192.06B | 204.59B | 185.95B | 163.01B | 138.67B | 129.05B |
| Stockholders Equity | 108.28B | 102.81B | 90.50B | 82.05B | 72.29B | 65.96B |
Cash Flow | ||||||
| Free Cash Flow | -839.15M | -4.52B | -15.11B | 3.72B | -1.59B | -1.17B |
| Operating Cash Flow | -558.71M | -4.36B | -14.92B | 4.13B | -1.51B | -192.53M |
| Investing Cash Flow | 323.26M | -3.82B | -5.52B | -15.83B | -9.08B | -15.45B |
| Financing Cash Flow | 7.86B | 12.90B | 16.12B | 19.13B | 8.79B | 12.16B |
Tosei Technical Analysis
Positive
1787.00
Price Trends
1613.78
Positive
1645.48
Positive
1569.07
Positive
Market Momentum
31.04
Negative
63.12
Neutral
76.94
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:8923, the sentiment is Positive. The current price of 1787 is above the 20-day moving average (MA) of 1612.85, above the 50-day MA of 1613.78, and above the 200-day MA of 1569.07, indicating a bullish trend. The MACD of 31.04 indicates Negative momentum. The RSI at 63.12 is Neutral, neither overbought nor oversold. The STOCH value of 76.94 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:8923.
Tosei Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | ¥251.76B | 8.22 | ― | 2.67% | 2.29% | -4.12% | |
74 Outperform | ¥1.26T | 9.43 | 19.43% | 5.16% | 5.16% | 6.00% | |
72 Outperform | ¥1.20T | 9.44 | 19.60% | 1.94% | 3.13% | 11.87% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
65 Neutral | ¥167.41B | 3.93 | 14.78% | 2.95% | 17.74% | 19.41% | |
63 Neutral | ¥163.52B | 20.44 | 8.95% | 3.39% | 28.94% | 109.35% | |
57 Neutral | ¥49.84B | -26.35 | ― | 3.75% | -8.66% | -53.57% |
* Real Estate Sector Average
JP:8923
Tosei
1,732.00
586.73
51.23%
JP:1878
Daito Construction
3,590.00
632.91
21.40%
JP:3288
Open House Co
9,842.00
3,909.53
65.90%
JP:8803
Heiwa Real Estate Co., Ltd.
2,490.00
222.69
9.82%
JP:3475
Good Com Asset Co.,Ltd.
1,675.00
439.56
35.58%
JP:8850
Starts Corporation Inc.
5,060.00
1,332.55
35.75%
Tosei Corporate Events
Tosei Posts Strong Q1 Earnings and Maintains Robust FY2026 Outlook
Apr 6, 2026
Tosei Corporation reported strong first-quarter results for the period ended February 28, 2026, with revenue rising 31.3% year on year to ¥60.5 billion and operating profit up 25.8% to ¥15.5 billion. Profit attributable to owners of the ...
Tosei Completes Restricted Stock Treasury Share Disposal for Director Remuneration
Mar 25, 2026
Tosei Corporation has completed the payment process for the disposal of 36,450 shares of its treasury stock as restricted stock remuneration to its directors. The shares, priced at 1,634 yen each for a total of 59,559,300 yen, were allotted mainly...
Tosei Details Strategic Ties With Nagoya Railroad and Confirms Limited Dealings
Feb 27, 2026
Tosei Corporation has clarified its relationship with other affiliated company Nagoya Railroad Co., Ltd., which holds 15.47% of Tosei’s voting rights and treats Tosei as an equity‑method affiliate in its consolidated accounts. The two ...
Tosei to Grant Treasury Shares as Performance-Linked Restricted Stock to Directors
Feb 26, 2026
Tosei Corporation has approved the disposal of 36,450 treasury shares as restricted stock remuneration for six internal directors and three outside directors, with a total value of approximately ¥59.6 million at ¥1,634 per share. The sha...
Tosei Posts Strong FY2025 Earnings, Hikes Dividend and Projects Further Growth for 2026
Jan 14, 2026
Tosei Corporation reported solid growth for the fiscal year ended November 30, 2025, with revenue rising 15.2% to ¥94.7 billion and operating profit up 20.8%, driving a 23.1% increase in profit attributable to owners of the parent. Profitabil...
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.