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General trading house within the Toyota Group, supplying parts, materials and vehicles across Toyota's global supply chain plus its own metals/energy/food trading.
General trading house within the Toyota Group, supplying parts, materials and vehicles across Toyota's global supply chain plus its own metals/energy/food trading.
Earns trading margins and fees on the parts, steel, chemicals and equipment it supplies to Toyota Group plants worldwide, and from owned operations such as an Africa vehicle-and-parts distribution business built on the French firm CFAO, bought in 2012. Orders follow Toyota group production, so a captive customer supports a smaller non-Toyota trading business.
Moat: narrow (scale, distribution, customer qualification). Preferred trading partner status within the Toyota Group supply chain, a durable captive-customer relationship.
Headquarters: Nagoya, Japan · Founded: 1936 · Employees: 74,927
Size Toyota Tsusho (8015.T) is a Japan Industrials company (Wholesale Distributors) with a market value of $36.8B, the 41st largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥6,194 on 6 Nov 2026.
Performance Over six months the shares gained 1.5%, against -7.7% for the median peer and +1.8% for the Japan market (cap-weighted) — 8th highest of 21 in its peer set.
Growth Revenue grew 25.1% over the last twelve months (peer median +8.8%); the operating margin is 5.0% (peer median 8.7%).
Valuation It trades at 13.0× forward earnings against a peer median of 16.7× (6th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about 10% a year for seven years (Req g). Recent delivered growth is +13%, so the hurdle is -3 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 0.2 points above its cost of capital (9.9% WACC).
Next results Next results expected around 29 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥13.3T | ¥11.6T | ¥10.3T | ¥10.2T | ¥9.85T |
| Revenue growth | — | +12% | +1% | +3% | — |
| Gross profit | ¥1.44T | ¥1.20T | ¥1.06T | ¥992B | ¥909B |
| EBITDA | ¥865B | ¥729B | ¥657B | ¥609B | ¥565B |
| Net income | ¥446B | ¥371B | ¥363B | ¥331B | ¥284B |
| Free cash flow | ¥139B | ¥297B | ¥331B | ¥367B | ¥283B |
| Capital expenditure | ¥200B | ¥183B | ¥199B | ¥199B | ¥181B |
| Total debt | ¥2.56T | ¥2.37T | ¥2.00T | ¥2.13T | ¥2.15T |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Toyota Tsusho 8015.T | $36.8B | +2% | +25% | 5% | 13.0× | 9.8% |
| Mitsubishi 8058.T | $105B | -1% | +16% | 3% | 14.8× | 18.8% |
| Sumitomo 8053.T | $47.7B | +9% | +6% | 5% | 11.3× | 15.2% |
| Marubeni 8002.T | $49.7B | -22% | +14% | 4% | 12.3× | 17.7% |
| Itochu 8001.T | $111B | +16% | +6% | 5% | 15.8× | 18.1% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 8015.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -17.1% | -0.8% | 4th lowest of 21 |
| 6-month return | +1.5% | -7.7% | 8th highest of 21 |
| Distance from 52-week high | -20.6% | -23.1% | 10th highest of 21 |
| Revenue growth (TTM) | +25.1% | +8.8% | 4th highest of 21 |
| Operating margin | 5.0% | 8.7% | 5th lowest of 21 |
| Forward P/E | 13.0× | 16.7× | 6th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | 9.8% | 10.9% | 8th least demanding of 19 |
| Growth delivered (Del g) | +12.9% | +9.0% | 6th highest of 19 |
| Hurdle (Req g minus delivered) | -3.1 pp | -0.6 pp | 7th least demanding of 19 |
| ROIC minus cost of capital | +0.2 pp | +3.5 pp | 8th lowest of 21 |
| EV / EBITDA | 8.8× | 15.5× | cheapest of 15 |
| Net debt / EBITDA | 1.9× | 1.8× | 8th most indebted of 17 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Toyota Tsusho 8015.T | Japan | $36.8B | +2% | +25% | 5% | 13.0× | 9.8% | +12.9% |
| CMOC 603993.SS | China | $41.0B | -29% | +32% | 20% | 8.7× | -5.4% | +12.8% |
| Ferguson Enterprises FERG | United States | $45.2B | -3% | +8% | 10% | 19.4× | 9.9% | +9.1% |
| Sumitomo 8053.T | Japan | $47.7B | +9% | +6% | 5% | 11.3× | 15.2% | +9.5% |
| Kyocera 6971.T | Japan | $23.4B | +3% | +7% | 6% | 22.5× | 21.3% | +6.3% |
| Fastenal FAST | United States | $60.8B | +20% | +14% | 21% | 38.3× | 14.2% | +7.7% |
| Aluminum Corporation of China 601600.SS | China | $20.7B | -26% | +5% | 18% | 6.7× | -16.2% | +5.3% |
| W. W. Grainger GWW | United States | $67.9B | +17% | +9% | 17% | 28.2× | 11.9% | +8.7% |
| Rongsheng Petrochemical 002493.SZ | China | $17.9B | -14% | -11% | 8% | 12.2× | -4.4% | +22.1% |
| Glencore GLEN.L | United Kingdom | $78.0B | -14% | +27% | 2% | 10.9× | n/a | n/a |
| WESCO International WCC | United States | $14.2B | -18% | +14% | 6% | 14.1× | 10.4% | +13.8% |
| Mitsubishi 8058.T | Japan | $105B | -1% | +16% | 3% | 14.8× | 18.8% | +8.0% |
| Diploma DPLM.L | United Kingdom | $12.6B | +4% | +13% | 22% | 27.5× | 23.9% | +23.1% |
| Bunzl BNZL.L | United Kingdom | $12.0B | +22% | +2% | 7% | 15.3× | 2.3% | +3.2% |
| QXO QXO | United States | $12.0B | -38% | +408% | -1% | 29.2× | 52.0% | +178.0% |
| Rexel RXL.PA | France | $11.9B | -10% | +1% | 6% | 13.5× | 7.7% | +9.0% |
| SGH SGH.AX | Australia | $11.9B | +7% | -1% | 13% | 18.1× | 11.4% | +17.0% |
| Bollore BOL.PA | France | $11.8B | -28% | -83% | -7% | 36.9× | 37.0% | -29.4% |
| Toromont Industries TIH.TO | Canada | $10.7B | -15% | +16% | 15% | 20.2× | 7.6% | +8.4% |
| Applied Industrial Technologies AIT | United States | $10.3B | -8% | +8% | 11% | 23.0× | 8.6% | +8.9% |
| Zhejiang China Commodities City 600415.SS | China | $10.0B | -7% | +22% | 22% | 14.4× | n/a | n/a |