TOTO, JP3596200000

Nomura keeps target for TOTO stock at JPY 6,820

Published on 10/02/2026 at 19:45 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Fiscal first-quarter sales rose 1.70 percent to JPY 168.61 billion. For TOTO stock, market value was JPY 1.0 trillion on October 2.

TOTO, JP3596200000, Illustration mit AI erstellt.

Nomura/Instinet maintained a Hold rating and a JPY 6,820 target for TOTO in its September 1, 2026 entry, according to Investing.com. The analyst view puts valuation alongside a first-quarter performance shaped by modest revenue growth and lower operating profit.

Revenue growth meets softer profit

TOTO reported revenue of JPY 168.61 billion in the first quarter of fiscal 2027, covering April through June 2026, up 1.70 percent from the year-earlier period. Operating profit declined 1.60 percent to JPY 8.08 billion, while net income rose 9.50 percent to JPY 6.91 billion, according to Note.

The contrast matters because sales expanded while operating profit moved in the opposite direction. TOTO's full-year fiscal 2027 plan calls for revenue of JPY 785.00 billion and operating profit of JPY 60.00 billion, representing increases of 6.40 percent and 11.60 percent, respectively, according to Note.

Ceramics change the earnings mix

The first-quarter figures also highlight TOTO's second engine. In fiscal 2026, the ceramics business generated JPY 67.41 billion in revenue, up 34.00 percent year over year, and JPY 28.94 billion in operating profit, up 41.70 percent, while the global housing equipment business recorded revenue of JPY 669.74 billion, down 0.60 percent, and operating profit of JPY 27.92 billion, down 9.70 percent, according to Note. That mix gives the JPY 6,820 target a clear earnings question: can semiconductor-related ceramics keep offsetting pressure in housing equipment?

Tokyo quote and market scale

TOTO was last at JPY 6,097.00 on the Tokyo Stock Exchange on October 2, 2026 at 3:30 p.m. JST, up 0.81 percent from JPY 6,048.00. The stock's 52-week range was JPY 3,766.00 to JPY 9,500.00, leaving the current quote below the yearly high while remaining well above the low.