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    Consumer Cyclical

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    Packaging & Containers
Toin Corporation

Toin Corporation

7923.T
Toin CorporationJP flagTokyo Stock Exchange
1,178.00
JPY
-6.00
- -
5.93BMarket Cap
Toin Corporation
7923.T
(Tokyo Stock Exchange)

Recent

price

1,178.00

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
1,728.7
1,762.3
1,889.54
2,000.63
1,995.84
2,078.22
2,070.08
2,040.94
2,359.02
2,459.49
2,348.28
2,234.21
2,288.53
2,522.77
2,683.63
2,897.18
2,683.63
Revenue per Share
-7.39
-103.03
42.17
29.25
17.08
42.74
-42.15
-3.16
40.15
52.09
15.06
23.56
-12.5
9.91
96.94
118.74
96.94
Basic EPS, GAAP
59.14
-13.73
23.02
59.44
-114.03
-18.87
-88.95
1.55
20.02
-15.2
-77.75
-30.6
64.92
76.82
-272.83
257.65
- -
Free Cash Flow per Basic Share
12.44
7.46
4.55
15.51
14.92
14.98
19.96
12.73
12.65
17.41
17.44
12.51
9.9
12.51
15
17.53
- -
Dividend per Share
1,101.47
991.17
1,028.47
1,051.97
1,071.24
1,104.55
1,042.41
627.84
1,114.89
1,176.49
1,174.06
1,185.12
1,162.35
1,159.76
1,241.7
1,342.94
1,241.7
Book Value per Share
1,532.8
1,404.49
1,460.86
1,504.21
1,539.25
1,651.49
1,542.45
1,600.28
1,773.21
1,855.27
1,784.78
1,839.37
1,826.13
1,834.11
1,971.78
2,175.43
1,971.78
Tangible Book Value per Share
6
6
6
6
5
5
5
5
5
5
5
5
5
5
5
5
5
Basic Weighted Avg Shares
9,635
9,820
10,528
11,046
10,917
11,367
11,322
10,960
12,161
12,379
11,819
11,245
11,519
12,698
13,507
14,582
13,507
Sales/Revenue/Turnover
-0.07
-5.21
2.57
2.5
1.08
0.43
-1.51
-0.95
3.34
2.68
0.2
0.05
-0.85
0.13
3.05
6.11
3.05
Operating Margin (%)
760
745
794
732
695
746
743
728
745
826
902
886
863
844
832
809
- -
Depreciation Expense
-41
-574
235
161
93
234
-231
-17
207
262
76
119
-63
50
488
598
488
Net Income, GAAP
1,729.1
- -
- -
42.51
4.8
2.16
- -
115.63
45.23
31.36
33.49
39.4
- -
48.03
22.72
25.68
22.72
Effective Tax Rate (%)
-0.43
-5.85
2.23
1.46
0.86
2.06
-2.04
-0.15
1.7
2.12
0.64
1.05
-0.55
0.39
3.61
4.1
3.61
Profit Margin (%)
2,793
2,289
2,551
1,892
2,044
2,000
2,164
2,263
2,038
2,531
2,258
2,210
2,489
2,076
2,378
3,007
2,378
Working Capital
1,333
1,284
1,393
1,310
1,668
1,928
2,148
2,411
2,256
2,999
2,671
2,653
2,538
2,009
2,978
2,739
2,978
LT Debt
8,625
7,883
8,186
8,335
8,437
9,065
8,509
8,656
9,191
9,371
9,013
9,275
9,210
9,252
10,011
10,980
10,011
Total Equity
0.85
- -
- -
1.25
0.94
0.41
- -
0.14
1.78
1.72
0.12
0.03
- -
0.07
2.34
4.45
2.34
Return on Invested Capital (%)
-9.38
- -
- -
1.9
1.46
3.23
- -
-0.39
2.88
3.05
1.13
1.53
- -
0.78
5.3
5.99
5.3
Return on Capital (%)
-0.67
-9.85
4.18
2.8
1.6
3.93
-3.93
-0.37
4.54
4.49
1.28
2
-1.07
0.85
8.07
9.19
8.07
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'24
Dec'24
Mar'24
ST Debt
1,284
1,271
1,286
LT Borrowings
2,754
2,528
2,974
LT Finance Leases
- -
- -
4
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
5
5
5
Market Capitalization
2,525
2,598
3,107

Working Capital

FRC

•

in mil. unless spec.
Sep'24
Dec'24
Mar'24
Total Current Assets
8,930
8,490
8,023
Cash, Cash Equivalents & STI
2,428
2,185
1,811
Accounts Receivable, Net
3,244
3,275
3,067
Inventories
1,466
1,362
1,347
Total Current Liabilities
5,930
5,500
5,645
Payables & Accruals
- -
- -
- -
ST Debt
1,284
1,271
1,286
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
2.04%
4.11%
9.68%
Free Cash Flow
63.89%
-200.8%
-194.44%
Net Income, GAAP
-103.29%
124.88%
22.49%
Sales/Revenue/Turnover
2.68%
4.43%
7.96%
Total Cash Common Dividend
3.98%
2.8%
16.88%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
3,260
3,485
3,436
3,325
13,507
2025
- -
- -
- -
- -
14,582
2026
- -
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.86
- -
- -
- -
96.94
2025
- -
- -
- -
- -
118.74
2026
- -
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
15
2025
- -
- -
- -
- -
17.53
2026
- -
- -
- -
- -
- -
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Business
Toin Corporation Toin Corporation (7923.T) manufactures and sells packaging materials, precision-coated products, and related items primarily in Japan, Southeast Asia, and select international markets. Established in 1955 and headquartered in Tokyo, the company operates through its Packaging Materials segment, which produces paper containers, resin packages, pressure-sensitive labels, glue labels, delayed labels, POP labels, leaflets, package inserts, and instruction manuals for cosmetics, pharmaceuticals, food products, daily necessities, and quasi-drugs; its Precision Coating segment, which provides functional coatings including adhesives, glues, and paints for electronic components such as smartphones and semiconductors, storage media, record media, and construction materials; and its Other segment, encompassing contract packaging services for food, cosmetics, and quasi-drugs, as well as sales and promotional tools. Toin Corporation maintains manufacturing facilities in Kashiwa and Noda, Chiba Prefecture, Japan, with an Osaka sales office, and conducts overseas operations via subsidiaries Toin Vietnam Co., Ltd., established in 2013 with a factory in Ho Chi Minh City for manufacturing, and Toin (Thailand) Co., Ltd., founded in 2008 in Bangkok for materials procurement and sales, enabling expanded production and supply chain capabilities across Japan and Southeast Asia. In recent developments, the company shifted its listing from the Tokyo Stock Exchange JASDAQ to the Standard market in 2022, expanded Factory Three dedicated to pharmaceuticals and cosmetics in 2021, opened a Kyushu Office in Fukuoka in 2022, obtained HACCP certification (JFS-B standard) at its Noda Factory in 2022, joined the Society of International Sustaining Growth for Antimicrobial Articles (SIAA) in 2020, and continues to advance ESG initiatives including ISO9001 and ISO14001 certifications, FSC forest certification, and SMETA audits to enhance quality, environmental sustainability, and global compliance. With approximately 465 employees as of March 2024, Toin Corporation focuses on technological innovation in printing-based diversification, environmentally friendly materials like recycled PP sheets and biomass PET, and stable supply chains to serve diverse customer needs in consumer discretionary packaging and industrial coatings.