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Tokuyama extends decline as domestic research firm downgrades to Neutral

Fri Apr 3, 2026 2:39 pm JST Catalyst

Tokuyama Corporation <4043> extended its decline. Tokai Tokyo Intelligence Laboratory downgraded the company's rating from Outperform, the highest of its three-tier rating system, to Neutral on the 2nd. The target price was revised down from \5,850 to \3,670. For the fiscal year ending March 2026, consolidated operating profit is projected at \39 billion (up 30.1% year-on-year) according to the company's guidance, indicating significant profit growth. This is expected to be driven by increased sales of advanced materials and expansion in electronic advanced materials. However, operating profit for the fiscal year ending March 2027 is forecast to decline to \37.2 billion. The surge in naphtha prices is expected to impact raw material costs through ethylene and propylene prices, with supply constraints and reduced demand contributing to lower profits.

Source: MINKABU PRESS

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