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Trusco Nakayama Corporation
(9830)
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Rating:69Neutral
Price Target:
¥2,629.00
▲(10.37% Upside)
Action:Reiterated
Date:08/06/26
The score is primarily constrained by deteriorating cash conversion and negative free cash flow in the last two years, despite steady revenue growth and generally solid profitability. Technicals are supportive with a positive trend and healthy momentum, and valuation is favorable with a low P/E and a reasonable dividend yield.
Positive Factors
Recurring MRO distribution model
Trusco's core wholesale distributor model sells a wide range of MRO and industrial supplies to business customers with recurring replenishment demand. That creates predictable repeat orders, high customer stickiness, and durable baseline volume supporting long-term revenue stability and relationship-based margins.
Negative Factors
Weak cash generation
Operating cash conversion weakened meaningfully in 2025 and FCF turned negative in 2024–2025. Persistent negative free cash flow reduces financial flexibility, constrains reinvestment or deleveraging, and makes the business more sensitive to working-capital swings or higher financing costs over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring MRO distribution model
Trusco's core wholesale distributor model sells a wide range of MRO and industrial supplies to business customers with recurring replenishment demand. That creates predictable repeat orders, high customer stickiness, and durable baseline volume supporting long-term revenue stability and relationship-based margins.
Read all positive factors
Trusco Nakayama Corporation (9830) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥159.25B
Dividend Yield2.42%
Average Volume (3M)120.09K
Price to Earnings (P/E)10.0
Beta (1Y)0.76
Revenue Growth8.46%
EPS Growth-3.62%
CountryJP
Employees1,809
SectorGeneral
Sector StrengthN/A
IndustryIndustrial - Distribution
Share Statistics
EPS (TTM)242.40
Shares Outstanding66,008,740
10 Day Avg. Volume121,960
30 Day Avg. Volume120,090
Financial Highlights & Ratios
PEG Ratio-7.50
Price to Book (P/B)0.85
Price to Sales (P/S)0.50
P/FCF Ratio-15.37
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)242.6
Revenue Forecast (FY)¥351.00B
Trusco Nakayama Corporation Business Overview & Revenue Model
Company Description
Trusco Nakayama Corporation operates as a specialized global trading enterprise, conducting business both within Japan and across international markets. The company's primary activities include the wholesale distribution of a broad spectrum of pro...
How the Company Makes Money
Trusco Nakayama makes money primarily by distributing industrial and factory-related products and earning a gross margin (the spread between procurement costs from manufacturers/suppliers and selling prices to customers). Key revenue streams are p...
Trusco Nakayama Corporation Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
71
Positive
Cash Flow
42
Neutral
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 327.84B | 320.04B | 295.02B | 268.15B | 246.45B | 226.83B |
| Gross Profit | 62.20B | 61.18B | 55.64B | 51.32B | 45.49B | 40.74B |
| EBITDA | 27.65B | 28.82B | 28.98B | 24.24B | 22.04B | 24.02B |
| Net Income | 15.98B | 15.88B | 16.09B | 12.27B | 10.63B | 11.60B |
Balance Sheet | ||||||
| Total Assets | 335.45B | 308.36B | 271.48B | 246.04B | 226.29B | 223.84B |
| Cash, Cash Equivalents and Short-Term Investments | 66.10B | 47.59B | 41.35B | 43.28B | 39.40B | 41.47B |
| Total Debt | 105.00B | 80.00B | 56.50B | 50.00B | 45.00B | 52.00B |
| Total Liabilities | 146.88B | 122.11B | 97.48B | 85.32B | 75.29B | 81.41B |
| Stockholders Equity | 188.58B | 186.25B | 174.00B | 160.72B | 151.00B | 142.43B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -10.31B | -6.27B | 3.63B | 8.36B | 8.05B |
| Operating Cash Flow | 0.00 | 8.18B | 13.02B | 14.80B | 12.18B | 15.93B |
| Investing Cash Flow | 0.00 | -21.57B | -18.27B | -13.11B | -5.17B | -4.60B |
| Financing Cash Flow | 0.00 | 19.64B | 3.24B | 1.93B | -9.11B | -2.24B |
Trusco Nakayama Corporation Technical Analysis
Positive
2382.00
Price Trends
2278.93
Positive
2271.76
Positive
2321.96
Positive
Market Momentum
33.05
Positive
50.53
Neutral
60.56
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:9830, the sentiment is Positive. The current price of 2382 is above the 20-day moving average (MA) of 2373.10, above the 50-day MA of 2278.93, and above the 200-day MA of 2321.96, indicating a neutral trend. The MACD of 33.05 indicates Positive momentum. The RSI at 50.53 is Neutral, neither overbought nor oversold. The STOCH value of 60.56 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:9830.
Trusco Nakayama Corporation Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | ¥36.36B | 10.57 | ― | 4.05% | 11.32% | -4.47% | |
75 Outperform | ¥49.91B | 10.34 | ― | 3.87% | 1.79% | -12.61% | |
73 Outperform | ¥55.23B | 10.75 | ― | 3.00% | -0.27% | -7.26% | |
69 Neutral | ¥159.25B | 9.96 | ― | 2.46% | 8.46% | -3.62% | |
68 Neutral | ¥94.74B | 12.62 | ― | 3.38% | 15.74% | -3.66% | |
56 Neutral | ¥129.58B | 8.31 | ― | 1.81% | 46.71% | 77.54% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
JP:9830
Trusco Nakayama Corporation
2,357.00
117.33
5.24%
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Trusco Nakayama Corporation Corporate Events
Trusco Nakayama Director Resigns Over Misconduct as Company Reshapes Executive Lineup
Jul 22, 2026
Trusco Nakayama Corporation announced the resignation of Director Atsushi Kazumi, effective July 21, 2026, after confirming he had engaged in inappropriate conduct and remarks. The company emphasized its commitment to enforcing standards of behavi...
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.