TSE:6643Electrical
Togami Electric (TSE:6643) Margin Decline Tests Defensive Narrative Despite Low Valuation
Togami Electric Mfg (TSE:6643) posted a net profit margin of 8% this period, slipping from 8.7% the previous year. While that points to some margin compression, it is worth noting the company’s five-year average earnings growth sits at a robust 17.1% annually, even though recent results have gone negative and place less emphasis on the longer-term average. Despite the softer margins, the stock now trades at a price-to-earnings multiple of 8.9x, which is well below both the Japanese electrical...