Overview
Construction

TOYO ENGINEERING CORPORATION

Toyo Engineering Corporation is a comprehensive engineering company providing EPC (Engineering, Procurement, and Construction) services across oil & gas, petrochemicals, chemicals, water, power generation, pharmaceuticals, and environmental industries on a global basis. The company offers proprietary technologies including the ACES21™ urea synthesis process, g-Methanol™ environmental circular methanol, COREFLUX™ NGL recovery, and SUPERHIDIC™ energy-saving distillation systems. It is actively expanding into energy transition domains such as ammonia fuel utilization, e-fuels/SAF, CCUS, and lifecycle engineering services including DX-PLANT™ digital solutions and HERO energy-saving consulting.

Market Cap
¥123B
US$785M
EV
¥81.9B
US$522M
Stock¥2,101▼-2.51%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
NM
LTM EV/EBIT
NM
LTM PER
NM
LTM PBR
2.6
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-38.7%pt
100123
Oct 24, 25 – Oct 23, 26StockTOPIX
1Feb 13, 26Q3 earnings announcement, operating profit decline disappoints
2Mar 23, 26Market-wide: BOJ rate hike shock, risk asset selloff
3Aug 10, 26Q1 earnings: net profit 5x YoY (¥2.8bn), gross margin improved to 17%
MC → EV Bridge
123BUS$785MMarket Cap53.7BUS$342M+ Debt87.6BUS$559M− Cash7.55BUS$48.1M− Inv. Sec.0.19BUS$1.22M+ NCI81.9BUS$522MEV
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Performance & Balance
Revenue 5Y (¥B)
203US$1.29B'22/3193US$1.23B'23/3261US$1.66B'24/3278US$1.77B'25/3183US$1.17B'26/3
EBITDA 5Y (¥B)
4.64US$29.6M'22/36.82US$43.5M'23/39.07US$57.9M'24/35.23US$33.3M'25/3-16.0-US$102M'26/3
Net Income 5Y (¥B)
1.62US$10.3M'22/31.65US$10.5M'23/39.82US$62.6M'24/32.02US$12.9M'25/3-14.9-US$95.3M'26/3
Capital Structure
46%
54%
EquityD/E 1.15xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
94.8US$605M36.2US$231M'22/3112US$716M36.1US$230M'23/3126US$806M35.8US$228M'24/397.2US$620M51.9US$331M'25/3113US$719M61.4US$391M'26/3
Shareholders
Top 10 hold 45.1%
1
MITSUI & CO.,LTD.
14.94%
2
Integral Team Investment Limited Partnership
9.23%
3
Japan Custody Bank, Ltd. (re-trust account of Sumitomo Mitsui Trust Bank, Limited / Mitsui Chemicals, Inc. Retirement Benefit Trust)
8.77%
4
The Master Trust Bank of Japan, Ltd. (Trust Account)
3.80%
5
SBI SECURITIES Co., Ltd.
2.49%
6
TAISEI CORPORATION
1.71%
7
Innovation Alpha Team L.P.
1.42%
8
BNYM SA/NV FOR BNYM FOR BNYM GCM CLIENT ACCTS M ILM FE (Standing Proxy: MUFG Bank, Ltd.)
1.02%
9
Rakuten Securities, Inc. (Joint Account)
0.92%
10
Sumitomo Mitsui Banking Corporation
0.80%
Management
2 officers
Ken MATSUMURO
Chairman of the Board, Director
Apr 1982: Joined the Company Aug 2006: President, Toyo Canada Corporation Oct 2011: Executive Director, Toyo Engineering Canada Ltd. Apr 2012: Manager, Americas Sales Group, Plant Sales Division, Overseas Sales Headquarters, the Company Apr 2015: Acting General Manager, Plant Sales Headquarters, and General Manager, Sales Division I, the Company Apr 2017: Acting General Manager, Plant Business Division, and General Manager, Sales Division I, the Company Apr 2018: Executive Officer, Acting General Manager, Plant Business Division, the Company Apr 2020: Managing Executive Officer, Acting General Manager, Plant Solutions Business Division, the Company; Chairman, Toyo U.S.A., Inc. Apr 2023: Senior Managing Executive Officer, General Manager, Sales Headquarters, the Company; Chairman, Toyo U.S.A., Inc. Apr 2025: Special Assignment to the President, the Company; Chairman, Toyo U.S.A., Inc. May 2026: Special Assignment to the President, the Company (current) Jun 2026: Chairman of the Board, Director, the Company
1958-09-18
Toyohisa TSUZUKI
Standing Audit & Supervisory Board Member (Full-time)
Apr 1986: Joined the Company Jun 2013: General Manager, Human Resources Department, the Company Jul 2017: Managing Director, Toyo Engineering & Construction Sdn. Bhd. Apr 2021: General Manager, Corporate Management Division, the Company Jun 2023: General Manager, Corporate Management Division, the Company; President and Representative Director, Tech Business Services Co., Ltd.; President and Representative Director, Chiba Data Center Co., Ltd. Jun 2025: General Manager, Corporate Management Division, the Company; President and Representative Director, Chiba Data Center Co., Ltd. Apr 2026: President and Representative Director, Chiba Data Center Co., Ltd. Jun 2026: Standing Audit & Supervisory Board Member, the Company
1963-03-21
Large Shareholding Reports
Integral Team Co., Ltd.
2026-04-07
5.96%→3.67%
Integral Team Co., Ltd.
2026-04-07
9.20%→5.96%
Integral Team Co., Ltd.
2026-03-30
29.88%→28.37%
Correction filing (name/detail fix only) — ratio carried over from the original filing
Integral Team Co., Ltd.
2026-03-26
17.48%→14.80%
Integral Team Co., Ltd.
2026-03-26
10.47%→9.20%
Integral Team Co., Ltd.
2026-03-26
14.80%→10.47%
Integral Team Co., Ltd.
2026-03-12
19.19%→17.48%
Integral Team Co., Ltd.
2026-03-10
20.53%→19.19%
Integral Team Co., Ltd.
2026-03-10
21.48%→20.53%
Integral Team Co., Ltd.
2026-03-10
22.81%→21.48%
Integral Team Co., Ltd.
2026-03-10
23.69%→22.81%
Integral Team Co., Ltd.
2026-02-26
26.68%→25.32%
Integral Team Co., Ltd.
2026-02-26
25.32%→23.69%
Integral Team Co., Ltd.
2026-02-26
28.37%→26.68%
Integral Team Co., Ltd.
2026-02-26
29.88%→28.37%
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-08-07
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-06-23
Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2026-04-07
Large Shareholding Report
EDINET
2026-04-07
Large Shareholding Report
EDINETAmended
2026-03-30
Change Report
EDINET
2026-03-26
Large Shareholding Report
EDINET
2026-03-26
Large Shareholding Report
EDINET
2026-03-26
Large Shareholding Report
EDINET
2026-03-12
Large Shareholding Report
EDINET
2026-03-10
Large Shareholding Report
EDINET
2026-03-10
Large Shareholding Report
EDINET
2026-03-10
Large Shareholding Report
EDINET
2026-03-10
Large Shareholding Report
EDINET
2026-02-26
Large Shareholding Report
EDINET
2026-02-26
Large Shareholding Report
EDINET
2026-02-26
Large Shareholding Report
EDINET
2026-02-26
Large Shareholding Report
TDnet
2026-02-12
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2025-11-13
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2025-08-07
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-06-25
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-02-13
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-14
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-08-08
Q1 Earnings Flash
FY ending Mar 2025
EDINET
2024-06-27
Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINET
2024-02-08
Quarterly Securities Report
Period: Oct 2023 – Dec 2023
EDINET
2023-11-09
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
EDINET
2023-08-10
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-06-28
Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINET
2023-02-09
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
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