Metal Products

Tokyo Steel Manufacturing Co., Ltd.

5423

Tokyo Steel Manufacturing Co. has corrected its non-consolidated financial results for FY2026 due to errors in fair value measurement of investment securities. Adjustments include total assets rising to ¥292,995 million and net assets to ¥222,089 million, with a revised ordinary profit-to-total-assets ratio of 2.9%. Basic earnings per share remain at ¥112.56. The company emphasizes the importance of accurate financial reporting. The latest analyst rating for the stock (JP:5423) is a Hold with a price target of ¥1450.00.

Tip Ranks

Tokyo Steel Corrects FY2026 Non-Consolidated Results After Valuation Error

Tokyo Steel Manufacturing (TSE:5423) reported FY 2026 Q4 revenue of ¥66.2b and EPS of ¥21.05, with trailing twelve-month revenue at ¥268.1b and EPS at ¥112.55. The net profit margin declined to 4.3% from 6.5% the previous year, raising concerns about earnings quality as forecasts indicate a 6.5% annual decline. The company trades at a P/E of 15.1x, above peers, while its share price of ¥1,703 exceeds the DCF fair value of ¥441.18. A ¥5.5 billion one-off gain inflates profits, and the 2.94% dividend is not fully covered by free cash flow, indicating potential risks ahead.

Simplywall

Tokyo Steel Manufacturing (TSE:5423) Margin Decline Reinforces Bearish Narratives On Earnings Quality

1475

1568

1473

Tokyo Steel Manufacturing Co. shares surged 21% after Oasis Management disclosed a 6.25% stake, raising hopes for capital restructuring. The stock has risen 22% over the past year, underperforming Japan's Topix index. With a market cap of ¥213 billion ($1.3 billion) and ¥90 billion in cash, analysts suggest significant changes may be on the horizon. Founded in 1934, Tokyo Steel is known for using recycled materials in steel production. The founding family may be considering an exit, hinting at potential M&A activity.

Bloomberg

BlackRock, Inc.

Simplex Financial Holdings Co., Ltd.

Asset Management One Co., Ltd.

Tokyo Steel Shares Soar as Oasis Stake Sparks Restructuring Hope

5707

5484

Hindustan Zinc Limited has expanded its partnership with Tata Steel to utilize EcoZen, a low-carbon zinc product, in sustainable steel manufacturing. EcoZen, produced with renewable energy, has a carbon footprint significantly lower than the industry average. This collaboration aims to reduce CO₂ emissions in steel galvanization, supporting both companies' commitments to greener supply chains and broader decarbonization goals. Hindustan Zinc is a leading integrated zinc producer, crucial for various industrial applications.

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Hindustan Zinc, Tata Steel Scale Up Low-Carbon EcoZen Zinc for Greener Steel

6362

5401

Nippon Steel plans to issue convertible corporate bonds, with a total scale increased to 600 billion yen (approximately 3.85 billion USD), setting a record high in the history of Japanese companies. This move aims to refinance its 15 billion USD acquisition of U.S. Steel and support business expansion. The company also plans to invest 6 trillion yen over the next five years, which includes an investment of 11 billion USD in U.S. Steel

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NIPPON STEEL CORP.

Japan Steel Works plans to issue convertible bonds to raise $3.9 billion, the largest scale ever for a Japanese company

9810

5476

Nippon Steel plans to raise 550 billion yen ($3.55 billion) through a convertible bond sale, marking Japan's largest corporate bond offering. The funds will refinance its $15 billion acquisition of U.S. Steel and support business expansion. The bond will be issued in two tranches, maturing in 2029 and 2031, with zero coupon and stock acquisition rights. Nippon Steel aims to invest 6 trillion yen over five years, including $11 billion in U.S. Steel. Analysts note this strategy minimizes shareholder dilution and supports overseas growth while maintaining financial discipline.

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Nippon Steel to raise $3.6 billion in Japan's biggest convertible bond offer ever

Tokyo Steel Manufacturing Co., Ltd.(5423.JP)

Tokyo Steel Corrects FY2026 Non-Consolidated Results After Valuation Error

Tokyo Steel Manufacturing (TSE:5423) Margin Decline Reinforces Bearish Narratives On Earnings Quality

Tokyo Steel Shares Soar as Oasis Stake Sparks Restructuring Hope

Hindustan Zinc, Tata Steel Scale Up Low-Carbon EcoZen Zinc for Greener Steel

Japan Steel Works plans to issue convertible bonds to raise $3.9 billion, the largest scale ever for a Japanese company