Taiheiyo Cement makes Portland and blended cement, ready-mix concrete, aggregates and clinker, and it sells them mostly into Japanese public works and housing construction. The moat is physical rather than brand-based: limestone quarries and kilns are costly to replicate and sit close to demand, which keeps pricing discipline intact in a domestic market with few new entrants. Revenue grew 5.1% in the latest reported year, and the pitch rests on that pricing power plus a forward P/E of 6.9 against a trailing 17.0, which implies the market expects earnings to rise sharply from here. The weak spot is returns: an operating margin of 5.2% and ROE of 4.2% are thin for a fund that wants compounding, so the question for a deeper look is whether the earnings step-up is credible and whether capital discipline is improving, not whether the cement franchise itself is sound.
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| Date | Type | New | Previous | Price |
|---|---|---|---|---|
| 23 Oct 2026, 01:52 CEST | ACCE price target | ¥4400 | first publication | ¥4055 |
Answered from Taiheiyo Cement Corporation fundamentals + recent valuations. Every number shows its source and date.
| Company | Price | Fair value | vs fair value | P/E | ROE | Quality | Score |
|---|---|---|---|---|---|---|---|
| 5233.T Taiheiyo Cement Corporation | ¥4124.00 | - | - | 16.7x | 4.2% | 43 | 62 |
| VCT.PA Vicat S.A. | €58.20 | €85 | 31% below | 9.1x | 10.2% | 59 | 59 |
| KNF Knife Riv Holding Co. Common Stock | $53.85 | $48 | 13% above | 21.3x | 9.1% | 52 | 43 |
| GCC.MX Grupo Cementos de Chihuahua | MXN 177.77 | MXN 229 | 22% below | 10.5x | 13.9% | 78 | 62 |
| DALBHARAT.NS Dalmia Bharat Limited | ₹1620.60 | - | - | 31.9x | - | 76 | 43 |
| USLM United States Lime & Minerals Inc. Common Stock | $111.50 | $76 | 47% above | 22.8x | 21.3% | 91 | 58 |
| CMO.MC Cementos Molins, S.A. | €35.40 | €43 | 18% below | 11.2x | 13.7% | 79 | 56 |
Where 5233.T ranks against its sector peers on each metric.