Taiyo Holdings makes photosensitive solder resists, dry film photoresists and related coatings used in printed circuit boards and semiconductor packaging, a niche where a handful of Japanese specialists hold most of the qualified supply. Its moat comes from qualification cycles: once a solder resist is specified into a customer's board or package, switching suppliers means re-testing and re-approval, which keeps share sticky. Revenue grew 17.6% recently, and the 50.0% gross margin and 26.9% operating margin point to pricing power that a commodity chemicals business would not have. The stock trades at 24.9 times trailing earnings but 17.3 times forward, so the market is pricing a sharp earnings step-up that needs checking against the order book and the AI-server and advanced-packaging demand that is supposed to drive it. The 23.8% ROE and the absence of index membership suggest a company the broader market has not yet fully re-rated, which makes it worth a deeper look on the forward estimates before anything else.
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| Date | Type | New | Previous | Price |
|---|---|---|---|---|
| 23 Oct 2026, 01:52 CEST | ACCE price target | ¥5170 | first publication | ¥4710 |
Answered from Taiyo Holdings Co., Ltd. fundamentals + recent valuations. Every number shows its source and date.
| Company | Price | Fair value | vs fair value | P/E | ROE | Quality | Score |
|---|---|---|---|---|---|---|---|
| 4626.T Taiyo Holdings Co., Ltd. | ¥4715.00 | - | - | 24.8x | 23.8% | 84 | 72 |
| 4613.T Kansai Paint Co., Ltd. | ¥2943.50 | - | - | 21.2x | 9.3% | 52 | 62 |
| ENAEX.SN Enaex S.A | CLP 24589.00 | - | - | 15.7x | 21.0% | 65 | 66 |
| HPOL-B.ST HEXPOL AB (publ) | kr 95.40 | kr 82 | 16% above | 17.6x | 13.0% | 60 | 62 |
| 8012.T Nagase & Co., Ltd. | ¥1194.50 | - | - | 12.5x | 9.6% | 48 | 71 |
| 4088.T Air Water Inc. | ¥2642.00 | - | - | 15.6x | -15.3% | 31 | 67 |
| 4403.T NOF Corporation | ¥2822.00 | - | - | 16.5x | 13.8% | 75 | 62 |
Where 4626.T ranks against its sector peers on each metric.