Tokai Carbon Co., Ltd.

Factors to consider:

• Company pays dividends (annually): last record date 2026-06-30, amount 0.12$ (Y1.30%)
• Earnings for 18 months up through Q2 (+1 year) exceed our estimates

Stock Forecast*

* forecast is subjective and experimental, should not be used for any investment decisions

Long term estimates were made for the period from 2024-12-31 to 2026-12-31

• 2024-12-31 to 2025-12-31 estimated range: [4.13$, 7.51$]
• 2025-12-31 to 2026-12-31 estimated range: [4.31$, 7.73$]

Financial Metrics affecting the TKCBF estimates:

• Negative: with PPE of -3.7 at the end of fiscal year the price was high
• Positive: Operating cash flow per share per price, % of 30.76 > 24.19
• Positive: 4.60 < Operating profit margin, % of 5.54
• Positive: -40.59 < Investing cash flow per share per price, % of -33.77
• Positive: Inventory ratio change, % of -0.76 <= -0.37
• Positive: -28.70 < Return on assets ratio (scaled to [-100,100]) of -8.13
• Positive: 3.66 < Industry operating cash flow per share per price (median), % of 4.95
• Positive: Interest expense per share per price, % of 0.94 <= 1.42
• Positive: 42.26 < Shareholder equity ratio, % of 45.19 <= 49.86
• Positive: Industry inventory ratio change (median), % of -0.25 <= 0