4635
TOKYO PRINTING INK MFG. CO., LTD.
東京インキ株式会社
Chemicals
Tokyo Printing Ink Mfg. Co., Ltd. manufactures and sells specialty chemicals in Japan. The company operates through four segments: Ink Business; Chemical Products Business; Processed Products Business; and Real Estate Rental Business. The company offers offset and gravure inks, inkjet inks, printing machines, and printing materials. It also engages in the manufactures and sells masterbatches and resin compounds. In addition, it offers plastic meshes and packaging materials and civil engineering materials. Further, it involved in the leasing of an office building owned in Tokyo and residence owned in Saitama Prefecture. Additionally, it provides dry colors; colorants for thermosetting resins; functional additives for plastics; compounds; detergents; powder resins; and functional products, such as 3D printers and radiation measurement. The company was founded in 1895 and is headquartered in Tokyo, Japan.
Price
¥1,260
Market Cap
¥3.3B
Ent. Value
¥6.3B
Net Debt
−¥3.0B
Shares Out.
2.6M
P / E
2.8×
EV / EBIT
4.8×
⚠ TSE Capital Mandate
P / Book
0.11×
P / NCAV
0.38×
Div. Yield
15.08%
Financials
| Metric |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
|---|---|---|---|---|
| Net Sales | ¥46.8B | ¥43.9B | ¥43.4B | ¥41.4B |
| Cost of Sales | ¥39.6B | ¥37.4B | ¥37.5B | ¥34.6B |
| Gross Profit | ¥7.2B | ¥6.5B | ¥5.9B | ¥6.8B |
| SG&A | ¥5.9B | ¥5.7B | ¥5.9B | ¥6.1B |
| Operating Income | ¥1.3B | ¥768M | ¥-21M | ¥675M |
| Non-Operating Income | ¥257M | ¥380M | ¥4.9B | ¥297M |
| Dividend Income | ¥154M | ¥147M | ¥148M | ¥134M |
| Interest Income | ¥3M | ¥20M | ¥14M | ¥2M |
| Non-Operating Expenses | ¥860M | ¥162M | ¥80M | ¥75M |
| Interest Expense | ¥39M | ¥29M | ¥35M | ¥33M |
| Ordinary Income | ¥705M | ¥986M | ¥4.8B | ¥898M |
| Pre-tax Income | ¥1.6B | ¥1.1B | ¥2.7B | ¥944M |
| Income Taxes | ¥393M | ¥238M | ¥1.1B | ¥223M |
| Current Tax | ¥420M | ¥88M | ¥1.1B | ¥157M |
| Deferred Tax | ¥-27M | ¥150M | ¥20M | ¥66M |
| Net Income (owners) | ¥1.2B | ¥881M | ¥1.6B | ¥725M |
| Minority Interest | ¥6M | ¥19M | ¥21M | ¥-5M |
| Comprehensive Income | ¥970M | ¥2.3B | ¥1.9B | ¥682M |
| EBITDA | ¥2.8B | ¥2.1B | ¥1.5B | ¥2.2B |
| EPS | ¥444.91 | ¥335.78 | ¥627.47 | ¥276.77 |
| Shares Outstanding | 2.6M | 2.7M | 2.6M | 2.6M |
| Shares Issued (total) | 2.7M | 2.7M | 2.7M | 2.7M |
| Treasury Shares | 0.1M | 0.1M | 0.1M | 0.1M |
| Metric |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | ¥50.8B | ¥52.5B | ¥47.8B | ¥47.3B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Current Assets | ¥29.7B | ¥31.1B | ¥28.9B | ¥27.5B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cash & Deposits | ¥3.7B | ¥3.7B | ¥3.4B | ¥3.6B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Trade Receivables | ¥10.4B | ¥10.2B | ¥9.8B | ¥9.4B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Non-Current Assets | ¥21.1B | ¥21.4B | ¥18.9B | ¥19.8B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| PP&E | ¥12.9B | ¥12.2B | ¥12.0B | ¥14.1B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Intangible Assets | ¥801M | ¥745M | ¥536M | ¥580M | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Investment Securities | ¥4.5B | ¥5.0B | ¥4.1B | ¥4.1B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deferred Tax Assets | ¥46M | ¥23M | ¥27M | ¥22M | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Liabilities | ¥21.0B | ¥23.1B | ¥20.5B | ¥21.6B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Current Liabilities | ¥16.4B | ¥18.1B | ¥16.5B | ¥16.3B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accounts Payable | ¥9.8B | ¥11.1B | ¥9.7B | ¥9.1B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ST Debt | ¥3.8B | ¥4.5B | ¥4.8B | ¥5.2B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Taxes Payable | ¥386M | ¥167M | ¥21M | ¥132M | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Non-Current Liabilities | ¥4.6B | ¥5.0B | ¥4.0B | ¥5.3B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total LT Borrowings | ¥2.9B | ¥2.9B | ¥2.6B | ¥3.8B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pension Obligations | ¥96M | ¥98M | ¥82M | ¥81M | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deferred Tax Liab. | ¥1.3B | ¥1.5B | ¥806M | ¥865M | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Equity | ¥29.8B | ¥29.4B | ¥27.3B | ¥25.7B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Capital Stock | ¥3.2B | ¥3.2B | ¥3.2B | ¥3.2B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Capital Surplus | ¥2.5B | ¥2.5B | ¥2.5B | ¥2.5B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Retained Earnings | ¥22.0B | ¥21.1B | ¥20.5B | ¥19.2B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Treasury Stock | ¥-387M | ¥-168M | ¥-263M | ¥-262M | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| AOCI | ¥2.3B | ¥2.5B | ¥1.1B | ¥839M | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equity (owners) | ¥27.3B | ¥26.7B | ¥26.0B | ¥24.7B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minority Interests | ¥200M | ¥191M | ¥171M | ¥147M | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Interest-Bearing Debt ⓘ | ¥6.7B | ¥7.4B | ¥7.4B | ¥9.0B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net Cash ⓘ | ¥-3.0B | ¥-3.6B | ¥-4.0B | ¥-5.4B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NCAV ⓘ | ¥8.7B | ¥8.0B | ¥8.4B | ¥5.9B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NCAV/Share | ¥3,353 | ¥3,025 | ¥3,191 | ¥2,249 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| BV/Share | ¥10,506 | ¥10,041 | ¥9,928 | ¥9,419 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Metric |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
|---|---|---|---|---|
| Operating CF | ¥2.3B | ¥2.0B | ¥-893M | ¥1.4B |
| Interest Paid | ¥-40M | ¥-30M | ¥-38M | ¥-35M |
| Interest Received | ¥157M | ¥168M | ¥163M | ¥136M |
| D&A | ¥1.5B | ¥1.3B | ¥1.5B | ¥1.5B |
| Investing CF | ¥-1.2B | ¥-1.3B | ¥2.5B | ¥-1.0B |
| CapEx | ¥1.9B | ¥1.3B | ¥1.2B | ¥1.6B |
| Purchase Investments | — | ¥-50M | — | — |
| Proceeds from Invest. | ¥989M | ¥404M | ¥89M | ¥144M |
| Financing CF | ¥-1.3B | ¥-398M | ¥-2.0B | ¥39M |
| Dividends Paid | ¥-317M | ¥-314M | ¥-314M | ¥-209M |
| Share Buybacks | ¥-218M | ¥0M | ¥-1M | ¥0M |
| LT Debt Repaid | ¥-1.1B | ¥-1.2B | ¥-1.5B | ¥-1.6B |
| Free Cash Flow | ¥337M | ¥728M | ¥-2.1B | ¥-126M |
| Net Change in Cash | ¥-39M | ¥360M | ¥-248M | ¥460M |
| Metric |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
|---|---|---|---|---|
| ROE | 4.0% | 3.1% | 6.3% | 2.9% |
| ROA | 2.3% | 1.8% | 3.5% | 1.5% |
| EPS | ¥444.91 | ¥335.78 | ¥627.47 | ¥276.77 |
| DPS | ¥190.00 | ¥100.00 | ¥160.00 | ¥80.00 |
| BPS | ¥11,382.68 | ¥10,982.28 | ¥10,333.05 | ¥9,739.87 |
| FCF/Share | ¥129 | ¥274 | ¥-808 | ¥-48 |
| NCAV/Share | ¥3,353 | ¥3,025 | ¥3,191 | ¥2,249 |
| Payout Ratio | 42.7% | 29.8% | 25.5% | 28.9% |
Event Timeline
S Shareholder
A Capital Signal
Large Shareholder Reports 2
Capital Allocation Signals 1
| Date | Type | Amount | Summary | |
|---|---|---|---|---|
|
2026-05-13
14:00
|
Cost of Capital | ¥65.0/sh +3% | Tokyo Printing Ink (4635) disclosed FY2027 earnings guidance with strategic restructuring positioning, including planned… | |
|
Summary
Tokyo Printing Ink (4635) disclosed FY2027 earnings guidance with strategic restructuring positioning, including planned dividend increase to ¥65/share (+¥2 YoY) and capital efficiency targets. The announcement emphasizes capital cost and stock price consciousness through ROE/PBR improvements, with FY2027 expected to be a transformation year toward achieving FY2028 mid-term plan targets despite near-term profit decline.
YoY: +3%
Source (JP)
27年3月期年間配当（普通配当）は１株当たり65円（2円の増配）を予定。資本コストや株価を意識した経営の実現に向けた対応（2026年5月アップデート版）
2027年3月期業績予想・2026年3月期決算概況および資本コストや株価を意識した経営の実現に向けた対応（2026年5月アップデート版）
TDnet PDF
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| # | Shareholder | Shares (thou.) | % of Total |
|---|---|---|---|
| 1 |
Kyodo Printing Co., Ltd.
共同印刷株式会社
|
240 | 9.25% |
| 2 |
Business Partner Stock Ownership Plan
東京インキ取引先持株会
|
226 | 8.68% |
| 3 |
Employee Stock Ownership Plan
東京インキ従業員持株会
|
147 | 5.67% |
| 4 | 有限会社久栄 | 110 | 4.23% |
| 5 |
Tokio Marine & Nichido Fire Insurance Co., Ltd.
東京海上日動火災保険株式会社
|
57 | 2.21% |
| 6 | 大橋淳男 | 53 | 2.05% |
| 7 |
Meiji Yasuda Life Insurance
明治安田生命保険相互会社
|
45 | 1.76% |
| 8 | 共立印刷株式会社 | 42 | 1.62% |
| 9 | 水元公仁 | 40 | 1.55% |
| 10 | 大橋美智子 | 40 | 1.54% |
as of 2025-03-31
Source: EDINET ↗
Ownership by year — hover bars for detail
Domestic Nominees
0.0%
-5.7% vs 2024
Trust bank custodians — GPIF, pensions, investment trusts
Foreign Custodians
0.0%
+0.0% vs 2024
Sub-custodians for foreign asset managers
Direct / Strategic
38.6%
+2.7% vs 2024
Named entities with disclosed investment intent
Bar = % of shares outstanding · top-10 covers 38.6% · grey = other shareholders · 2025
| Shareholder | Trend | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Kyodo Printing Co., Ltd. 共同印刷 | 9.18% | 9.05% | 9.25% +0.20% | |
| Business Partner Stock Ownership Plan 東京インキ取引先持株会 | 7.94% | 8.08% | 8.68% +0.60% | |
| Employee Stock Ownership Plan 東京インキ従業員持株会 | 4.33% | 5.44% | 5.67% +0.23% | |
| 限会社久栄 | 4.19% | 4.14% | 4.23% +0.09% | |
| Tokio Marine & Nichido Fire Insurance Co., Ltd. 東京海上日動火災保険 | 3.64% | 2.88% | 2.21% -0.67% | |
| 大橋淳男 ↑ | 2.18% | 2.15% | 2.05% -0.10% | |
| Meiji Yasuda Life Insurance 明治安田生命保険 ↑ | 1.74% | 1.72% | 1.76% +0.04% | |
| 共立印刷 NEW ENTRY | — | — | — | 1.62% NEW |
| 水元公仁 | — | 2.41% | 1.55% -0.86% | |
| 大橋美智子 NEW ENTRY | — | — | — | 1.54% NEW |
| 日本カストディ銀行 last seen 2024 | Exited Top 10 | 3.61% | 3.56% | — |
| Sumitomo Mitsui Trust Bank 三井住友信託銀行 last seen 2024 | Exited Top 10 | 2.37% | 2.18% | — |
| 畑中貴代子 last seen 2023 | Exited Top 10 | 1.61% | — | — |
| Concentration (HHI) ⓘ | 226 | 233 | 231 |
3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved
Portfolio Book Value
¥4,189M
+11% since 2023
Holdings
18
+2 new
11 exited
Trend
2 unwinding
vs 2023
| Held Company | FY2025 ¥4,189M total | FY2023 ¥3,775M total | |||
|---|---|---|---|---|---|
| Book Val ¥M | Shares | Book Val ¥M | Shares | ||
|
Kyodo Printing Co., Ltd.
共同印刷㈱
|
2,404 |
583,637
|
1,605 | 583,637 | M |
|
譬ｪ蠑丈ｼ夂､ｾ�ｼｫ�ｼｹ�ｼｯ�ｼｲ�ｼｩ�ｼｴ�ｼｳ�ｼｵ
㈱ＫＹＯＲＩＴＳＵ
|
368 |
2,273,500
|
359 | 2,273,500 | M |
|
Mitsubishi UFJ Financial Group, Inc.
㈱三菱UFJフィナンシャル・グループ
|
310 |
154,400
|
130 | 154,400 | M |
|
artience Co., Ltd.
artience㈱
|
277 |
NEW
New
90,000
|
— | M | |
|
Dainichiseika Color & Chemicals Mfg. Co., Ltd.
大日精化工業㈱
|
180 |
60,000
|
106 | 60,000 | M |
|
Mizuho Financial Group, Inc.
㈱みずほフィナンシャルグループ
|
169 |
-49.4%
↓
41,950
|
155 | 82,950 | M |
|
ARAKAWA CHEMICAL INDUSTRIES, LTD.
荒川化学工業㈱
|
88 |
80,000
|
79 | 80,000 | M |
|
MUSASHI CO.,LTD.
㈱ムサシ
|
67 |
40,000
|
63 | 40,000 | M |
|
Sun Messe Co.,Ltd.
サンメッセ㈱
|
61 |
166,000
|
59 | 166,000 | |
|
SOUGOU SHOUKEN CO.,LTD.
総合商研㈱
|
59 |
63,000
|
55 | 63,000 | |
| 三井住友トラスト・ホールディングス㈱ | 58 |
15,600
|
70 | 15,600 | M |
|
DYNIC CORPORATION
ダイニック㈱
|
45 |
-6.2%
↓
60,000
|
48 | 64,000 | M |
|
TAKEDA iP HOLDINGS CO., LTD.
竹田iPホールディングス㈱
|
42 |
NEW
New
45,000
|
— | ||
|
Okura Industrial Co.,Ltd.
大倉工業㈱
|
25 |
6,600
|
13 | 6,600 | M |
|
Daishowa Paper Manufacturing Co., Ltd.
大王製紙㈱
|
16 |
20,000
|
20 | 20,000 | |
|
Tensho Electric Industries Co., Ltd.
天昇電気工業㈱
|
12 |
50,000
|
16 | 50,000 | |
|
HARIMA CHEMICALS GROUP, INC.
ハリマ化成グループ㈱
|
8 |
10,000
|
8 | 10,000 | |
|
TOPPAN Holdings Inc.
TOPPANホールディングス㈱
|
— | — | |||
|
Tokio Marine Holdings, Inc.
東京海上ホールディングス㈱
|
— |
−100%
Exit
—
|
280 | 110,100 | M |
|
DIC Corporation
DIC㈱
|
— |
−100%
Exit
—
|
95 | 40,000 | M |
|
Mitsui Chemicals, Inc.
三井化学㈱
|
— |
−100%
Exit
—
|
215 | 63,313 | |
| 森六ホールディングス㈱ | — |
−100%
Exit
—
|
73 | 40,000 | |
| 東洋インキSCホールディングス㈱ | — |
−100%
Exit
—
|
185 | 90,000 | M |
|
KAJIMA CORPORATION
鹿島建設㈱
|
— |
−100%
Exit
—
|
43 | 27,500 | |
| 竹田印刷㈱ | — |
−100%
Exit
—
|
31 | 45,000 | |
| 凸版印刷㈱ | — |
−100%
Exit
—
|
29 | 11,200 | |
|
Denka Company Limited
デンカ㈱
|
— |
−100%
Exit
—
|
27 | 10,000 | |
|
Sakai Trading Co.
堺商事㈱
|
— |
−100%
Exit
—
|
10 | 3,000 | M |
|
MITSUBISHI PAPER MILLS LIMITED
三菱製紙㈱
|
— |
−100%
Exit
—
|
1 | 5,000 | |
| Portfolio total | 4,189 | 3,775 | |||
Book value in ¥M · ↓ reduced · ↑ increased vs prior year · M = mutual holding