Price Target Changed • Jun 04
Price target increased by 13% to JP¥6,380 Up from JP¥5,660, the current price target is an average from 5 analysts. New target price is 21% below last closing price of JP¥8,070. Stock is up 91% over the past year. The company is forecast to post earnings per share of JP¥252 for next year compared to JP¥261 last year. Valuation Update With 7 Day Price Move • May 25
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to JP¥7,800, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 18x in the Electrical industry in Japan. Total returns to shareholders of 68% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥8,529 per share. Buy Or Sell Opportunity • May 12
Now 23% undervalued Over the last 90 days, the stock has risen 10% to JP¥6,470. The fair value is estimated to be JP¥8,402, however this is not to be taken as a buy recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to grow by 9.3% per annum. Earnings are also forecast to grow by 18% per annum over the same time period. Reported Earnings • May 12
First quarter 2026 earnings released: EPS: JP¥29.04 (vs JP¥60.84 in 1Q 2025) First quarter 2026 results: EPS: JP¥29.04 (down from JP¥60.84 in 1Q 2025). Revenue: JP¥10.6b (down 7.8% from 1Q 2025). Net income: JP¥609.0m (down 52% from 1Q 2025). Profit margin: 5.8% (down from 11% in 1Q 2025). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 9.3% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Electrical industry in Japan. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Board Change • Mar 30
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 1 highly experienced director. 2 independent directors (3 non-independent directors). Independent Outside Director Makio Naito was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Price Target Changed • Mar 04
Price target increased by 9.0% to JP¥5,520 Up from JP¥5,063, the current price target is an average from 6 analysts. New target price is 6.6% above last closing price of JP¥5,180. Stock is up 36% over the past year. The company is forecast to post earnings per share of JP¥281 for next year compared to JP¥261 last year. New Risk • Feb 19
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 5.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (5.9% average weekly change). Profit margins are more than 30% lower than last year (12% net profit margin). Buy Or Sell Opportunity • Feb 19
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 28% to JP¥6,040. The fair value is estimated to be JP¥5,028, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 2.8% over the last 3 years. Earnings per share has grown by 7.1%. For the next 3 years, revenue is forecast to grow by 9.6% per annum. Earnings are also forecast to grow by 17% per annum over the same time period. Reported Earnings • Feb 17
Third quarter 2025 earnings released: EPS: JP¥88.21 (vs JP¥96.94 in 3Q 2024) Third quarter 2025 results: EPS: JP¥88.21 (down from JP¥96.94 in 3Q 2024). Revenue: JP¥11.1b (down 13% from 3Q 2024). Net income: JP¥1.85b (down 9.0% from 3Q 2024). Profit margin: 17% (in line with 3Q 2024). Revenue is forecast to grow 8.0% p.a. on average during the next 4 years, compared to a 5.7% growth forecast for the Electrical industry in Japan. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Feb 17
Consensus EPS estimates fall by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from JP¥51.2b to JP¥50.0b. EPS estimate also fell from JP¥321 per share to JP¥288 per share. Net income forecast to shrink 19% next year vs 13% growth forecast for Electrical industry in Japan . Consensus price target of JP¥5,350 unchanged from last update. Share price fell 8.8% to JP¥5,360 over the past week. New Risk • Dec 26
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 5.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (5.5% average weekly change). Upcoming Dividend • Dec 22
Upcoming dividend of JP¥145 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 31 March 2026. Payout ratio is a comfortable 42% but the company is not cash flow positive. Trailing yield: 3.0%. Lower than top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.4%). Buy Or Sell Opportunity • Nov 18
Now 21% undervalued Over the last 90 days, the stock has risen 15% to JP¥4,660. The fair value is estimated to be JP¥5,917, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.5% over the last 3 years. Earnings per share has grown by 15%. For the next 3 years, revenue is forecast to grow by 9.3% per annum. Earnings are also forecast to grow by 12% per annum over the same time period. Reported Earnings • Nov 08
Third quarter 2025 earnings released: EPS: JP¥88.21 (vs JP¥96.94 in 3Q 2024) Third quarter 2025 results: EPS: JP¥88.21 (down from JP¥96.94 in 3Q 2024). Revenue: JP¥11.1b (down 13% from 3Q 2024). Net income: JP¥1.85b (down 9.0% from 3Q 2024). Profit margin: 17% (in line with 3Q 2024). Revenue is forecast to grow 9.2% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Electrical industry in Japan. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Oct 25
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 3.3% to JP¥4,720. The fair value is estimated to be JP¥5,903, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.0% over the last 3 years. Earnings per share has grown by 19%. For the next 3 years, revenue is forecast to grow by 8.1% per annum. Earnings are also forecast to grow by 11% per annum over the same time period. Buy Or Sell Opportunity • Oct 10
Now 21% undervalued The stock has been flat over the last 90 days, currently trading at JP¥4,750. The fair value is estimated to be JP¥6,032, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.0% over the last 3 years. Earnings per share has grown by 19%. For the next 3 years, revenue is forecast to grow by 8.1% per annum. Earnings are also forecast to grow by 11% per annum over the same time period. Major Estimate Revision • Aug 23
Consensus EPS estimates fall by 10% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from JP¥52.2b to JP¥51.1b. EPS estimate also fell from JP¥347 per share to JP¥311 per share. Net income forecast to shrink 1.5% next year vs 13% growth forecast for Electrical industry in Japan . Consensus price target of JP¥5,638 unchanged from last update. Share price fell 3.0% to JP¥4,010 over the past week. Declared Dividend • Aug 09
Dividend of JP¥145 announced Shareholders will receive a dividend of JP¥145. Ex-date: 29th December 2025 Payment date: 31st March 2026 Dividend yield will be 3.5%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is covered by earnings (41% earnings payout ratio) but not covered by cash flows (130% cash payout ratio). The dividend has increased by an average of 21% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 42% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 08
Second quarter 2025 earnings released: EPS: JP¥66.99 (vs JP¥132 in 2Q 2024) Second quarter 2025 results: EPS: JP¥66.99 (down from JP¥132 in 2Q 2024). Revenue: JP¥11.5b (down 16% from 2Q 2024). Net income: JP¥1.41b (down 49% from 2Q 2024). Profit margin: 12% (down from 20% in 2Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Electrical industry in Japan. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 13
First quarter 2025 earnings released: EPS: JP¥60.84 (vs JP¥113 in 1Q 2024) First quarter 2025 results: EPS: JP¥60.84 (down from JP¥113 in 1Q 2024). Revenue: JP¥11.5b (down 8.7% from 1Q 2024). Net income: JP¥1.28b (down 46% from 1Q 2024). Profit margin: 11% (down from 19% in 1Q 2024). Revenue is forecast to grow 8.8% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Electrical industry in Japan. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to JP¥3,235, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 10x in the Electrical industry in Japan. Total returns to shareholders of 21% over the past three years. Reported Earnings • Apr 05
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: JP¥475 (up from JP¥358 in FY 2023). Revenue: JP¥53.1b (up 7.8% from FY 2023). Net income: JP¥9.96b (up 33% from FY 2023). Profit margin: 19% (up from 15% in FY 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 7.5%. Revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Electrical industry in Japan. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Mar 06
Consensus EPS estimates fall by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from JP¥56.5b to JP¥54.4b. EPS estimate also fell from JP¥403 per share to JP¥359 per share. Net income forecast to shrink 24% next year vs 2.8% growth forecast for Electrical industry in Japan . Consensus price target down from JP¥6,665 to JP¥6,140. Share price was steady at JP¥3,900 over the past week. Reported Earnings • Feb 16
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: JP¥475 (up from JP¥358 in FY 2023). Revenue: JP¥53.1b (up 7.8% from FY 2023). Net income: JP¥9.96b (up 33% from FY 2023). Profit margin: 19% (up from 15% in FY 2023). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 7.5%. Revenue is forecast to grow 9.8% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Electrical industry in Japan. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Announcement • Feb 14
Toyo Tanso Co., Ltd., Annual General Meeting, Mar 28, 2025 Toyo Tanso Co., Ltd., Annual General Meeting, Mar 28, 2025. Upcoming Dividend • Dec 20
Upcoming dividend of JP¥120 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 31 March 2025. Payout ratio is a comfortable 26% but the company is paying out more than the cash it is generating. Trailing yield: 2.8%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (1.9%). Price Target Changed • Nov 21
Price target decreased by 8.0% to JP¥7,486 Down from JP¥8,136, the current price target is an average from 8 analysts. New target price is 62% above last closing price of JP¥4,635. Stock is up 3.9% over the past year. The company is forecast to post earnings per share of JP¥435 for next year compared to JP¥358 last year. Reported Earnings • Nov 09
Third quarter 2024 earnings released: EPS: JP¥96.94 (vs JP¥80.20 in 3Q 2023) Third quarter 2024 results: EPS: JP¥96.94 (up from JP¥80.20 in 3Q 2023). Revenue: JP¥12.8b (up 4.0% from 3Q 2023). Net income: JP¥2.03b (up 21% from 3Q 2023). Profit margin: 16% (up from 14% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Electrical industry in Japan. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. New Risk • Nov 07
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 5.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (151% cash payout ratio). Share price has been volatile over the past 3 months (5.8% average weekly change). Declared Dividend • Aug 09
Dividend of JP¥120 announced Shareholders will receive a dividend of JP¥120. Ex-date: 27th December 2024 Payment date: 31st March 2025 Dividend yield will be 2.1%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by earnings (29% earnings payout ratio) but not covered by cash flows (203% cash payout ratio). The dividend has increased by an average of 20% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 41% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • Aug 09
Now 20% overvalued Over the last 90 days, the stock has fallen 28% to JP¥5,700. The fair value is estimated to be JP¥4,738, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 31%. For the next 3 years, revenue is forecast to grow by 11% per annum. Earnings are also forecast to grow by 12% per annum over the same time period. Reported Earnings • May 16
First quarter 2024 earnings released: EPS: JP¥113 (vs JP¥87.40 in 1Q 2023) First quarter 2024 results: EPS: JP¥113 (up from JP¥87.40 in 1Q 2023). Revenue: JP¥12.6b (up 11% from 1Q 2023). Net income: JP¥2.38b (up 30% from 1Q 2023). Profit margin: 19% (up from 16% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Electrical industry in Japan. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has increased by 46% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Mar 06
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JP¥7,810, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 14x in the Electrical industry in Japan. Total returns to shareholders of 312% over the past three years. Price Target Changed • Mar 02
Price target increased by 8.4% to JP¥7,088 Up from JP¥6,538, the current price target is an average from 8 analysts. New target price is approximately in line with last closing price of JP¥6,940. Stock is up 68% over the past year. The company is forecast to post earnings per share of JP¥393 for next year compared to JP¥358 last year. Announcement • Feb 22
Toyo Tanso Co., Ltd. Announces Retirement of Shunsaku Hiraga as Director Toyo Tanso Co., Ltd. at its meeting held on February 22, 2024, the Board of Directors of the Company passed a resolution on director candidates to be proposed at the 82nd Ordinary General Shareholders Meeting to be held on March 28, 2024, Mr. Shunsaku Hiraga is scheduled to retire from Director due to the expiration of his term of office at the conclusion of the 82nd Ordinary General Meeting of Shareholders scheduled to be held on March 28, 2024. He will continue to serve as Special Advisor after his retirement from Directors. Major Estimate Revision • Feb 21
Consensus EPS estimates increase by 10% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from JP¥51.9b to JP¥53.2b. EPS estimate increased from JP¥340 to JP¥375 per share. Net income forecast to grow 4.9% next year vs 0.9% decline forecast for Electrical industry in Japan. Consensus price target up from JP¥6,225 to JP¥6,538. Share price rose 33% to JP¥7,000 over the past week. Reported Earnings • Feb 16
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: JP¥358 (up from JP¥247 in FY 2022). Revenue: JP¥49.3b (up 13% from FY 2022). Net income: JP¥7.51b (up 45% from FY 2022). Profit margin: 15% (up from 12% in FY 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.3%. Earnings per share (EPS) also surpassed analyst estimates by 8.5%. Revenue is forecast to grow 8.5% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Electrical industry in Japan. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has increased by 52% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Feb 15
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to JP¥6,270, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 12x in the Electrical industry in Japan. Total returns to shareholders of 228% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at JP¥9,644 per share. Announcement • Feb 14
Toyo Tanso Co., Ltd. Revises Dividend for the Year 2023; Provides Dividend Guidance for the Year 2024 Toyo Tanso Co., Ltd. announced that based on the dividend policy, and taking into consideration the profit levels and financial conditions of the fiscal year ended December 31, 2023, forecasts for the fiscal year ending December 31, 2024 and beyond, and other factors, the company decided to revise the year-end dividend for the fiscal year ended December 31, 2023, to JPY 110, with a JPY 20 increase compared with the forecast announced on August 9, 2023.For the fiscal year ending December 31, 2024, the company plans to increase dividends by JPY 10 to pay a dividend of JPY 120 per share. Buying Opportunity • Dec 21
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 11%. The fair value is estimated to be JP¥6,069, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 35%. For the next 3 years, revenue is forecast to grow by 8.7% per annum. Earnings is also forecast to grow by 9.5% per annum over the same time period. Reported Earnings • Nov 08
Third quarter 2023 earnings released: EPS: JP¥80.20 (vs JP¥75.72 in 3Q 2022) Third quarter 2023 results: EPS: JP¥80.20 (up from JP¥75.72 in 3Q 2022). Revenue: JP¥12.3b (up 4.7% from 3Q 2022). Net income: JP¥1.68b (up 5.9% from 3Q 2022). Profit margin: 14% (in line with 3Q 2022). Revenue is forecast to grow 9.0% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Electrical industry in Japan. Over the last 3 years on average, earnings per share has increased by 35% per year whereas the company’s share price has increased by 37% per year. Price Target Changed • Sep 08
Price target increased by 9.0% to JP¥6,429 Up from JP¥5,900, the current price target is an average from 7 analysts. New target price is 14% above last closing price of JP¥5,620. Stock is up 67% over the past year. The company is forecast to post earnings per share of JP¥329 for next year compared to JP¥247 last year. Price Target Changed • Aug 22
Price target increased by 8.1% to JP¥5,900 Up from JP¥5,457, the current price target is an average from 7 analysts. New target price is approximately in line with last closing price of JP¥5,680. Stock is up 77% over the past year. The company is forecast to post earnings per share of JP¥310 for next year compared to JP¥247 last year. New Risk • Aug 11
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Japanese stocks, typically moving 5.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 10
Second quarter 2023 earnings released: EPS: JP¥109 (vs JP¥64.89 in 2Q 2022) Second quarter 2023 results: EPS: JP¥109 (up from JP¥64.89 in 2Q 2022). Revenue: JP¥12.4b (up 20% from 2Q 2022). Net income: JP¥2.30b (up 69% from 2Q 2022). Profit margin: 19% (up from 13% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.5% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Electrical industry in Japan. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has increased by 51% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Aug 09
Price target increased by 9.3% to JP¥5,671 Up from JP¥5,190, the current price target is an average from 7 analysts. New target price is approximately in line with last closing price of JP¥5,450. Stock is up 81% over the past year. The company is forecast to post earnings per share of JP¥296 for next year compared to JP¥247 last year. Valuation Update With 7 Day Price Move • May 17
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to JP¥5,040, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 12x in the Electrical industry in Japan. Total returns to shareholders of 231% over the past three years. Reported Earnings • May 12
First quarter 2023 earnings released: EPS: JP¥87.40 (vs JP¥57.36 in 1Q 2022) First quarter 2023 results: EPS: JP¥87.40 (up from JP¥57.36 in 1Q 2022). Revenue: JP¥11.3b (up 14% from 1Q 2022). Net income: JP¥1.83b (up 52% from 1Q 2022). Profit margin: 16% (up from 12% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 9.5% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Electrical industry in Japan. Over the last 3 years on average, earnings per share has increased by 38% per year whereas the company’s share price has increased by 41% per year. Buying Opportunity • Mar 02
Now 23% undervalued Over the last 90 days, the stock is up 8.3%. The fair value is estimated to be JP¥5,404, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.3% over the last 3 years. Earnings per share has grown by 34%. For the next 3 years, revenue is forecast to grow by 8.4% per annum. Earnings is also forecast to grow by 14% per annum over the same time period. Reported Earnings • Feb 20
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: EPS: JP¥247 (up from JP¥213 in FY 2021). Revenue: JP¥43.8b (up 16% from FY 2021). Net income: JP¥5.18b (up 16% from FY 2021). Profit margin: 12% (in line with FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 7.7%. Revenue is forecast to grow 7.2% p.a. on average during the next 2 years, compared to a 5.1% growth forecast for the Electrical industry in Japan. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. Announcement • Feb 14
Toyo Tanso Co., Ltd., Annual General Meeting, Mar 30, 2023 Toyo Tanso Co., Ltd., Annual General Meeting, Mar 30, 2023. 
