Natural Gas Sales: approximately 70%
Electricity Sales: approximately 20%
Other Services: approximately 10%

TOP 3 Markets:

1. Japan: approximately 85%
2. Southeast Asia: approximately 10%
3. China: approximately 5%

Toho Gas Co., Ltd. generates the majority of its revenue from the sale of natural gas, which accounts for about 70% of total revenue. Another significant portion of revenue comes from electricity sales, which is approximately 20%. The remaining 10% is attributed to various services offered by the company.

Toho Gas's main market is Japan, where approximately 85% of its revenue is generated. In recent years, the company has expanded its presence in Southeast Asia, resulting in a revenue share of about 10% in this region. China contributes around 5% to the total revenue, indicating the strategic expansion into Asian markets.

Production Sites: Japan

Toho Gas Co., Ltd. is a Japanese company that is mainly engaged in the supply of natural gas and related services. The production and distribution of natural gas mainly take place in Japan, with the company operating its infrastructure and facilities in the country. Toho Gas focuses on supplying the Chubu region, including the prefectures of Aichi, Gifu, and Mie.

The company operates several LNG terminals and pipelines to ensure supply security in these areas.

Revenue growth: Estimated at 3-5% annually (2026, based on trends of recent years)

Investments in renewable energies: Increased by 20% (2025)

Toho Gas Co., Ltd. is pursuing a growth strategy that heavily focuses on diversifying its energy sources and investing in renewable energies. The company plans to reduce its dependence on fossil fuels and to increase investments in technologies for utilizing hydrogen and solar energy.

In addition, Toho Gas is focusing on expanding its services in the field of energy efficiency for households and businesses. This includes the introduction of new products and services aimed at optimizing energy consumption and reducing CO2 emissions.

Another strategic focus is on geographical expansion, particularly in Asian markets, to expand the customer base and capitalize on new growth opportunities.

Main Imported Raw Materials: Liquefied natural gas (LNG), crude oil

Main Supplier Countries: Australia, Qatar, Malaysia, Russia

Toho Gas Co., Ltd. mainly imports liquefied natural gas (LNG) and crude oil to meet the energy needs of its customers. Australia, Qatar, and Malaysia are the most significant suppliers of LNG, with Russia also playing an important role. These countries offer stable supply chains and competitive prices, which are crucial for Toho Gas to ensure supply security and optimize costs.

Market share in Japan: Approximately 10% (2025, estimated)
Net profit margin: 5.2% (2025)
Return on equity (ROE): 8.5% (2025)

Toho Gas Co., Ltd. is one of the leading gas utility companies in Japan, specializing in the supply of city gas and liquefied petroleum gas. The company's competitive advantage lies in its established market position and extensive supply network in the Chubu region.

The company benefits from long-term supply contracts and a stable customer base, contributing to a solid financial performance. The net profit margin of 5.2% and return on equity of 8.5% in 2025 reflect efficient operations management that is competitive compared to other utility companies.

Another advantage is the continuous investment in infrastructure and technology to increase efficiency and support the transition to renewable energy sources. This could help Toho Gas to position itself in a changing energy market and secure long-term competitive advantages.

Institutional Investor Share: Approximately 45% (estimated, 2026)
Insider Purchases/Sales: No significant transactions reported (2026)

The institutional investor share in Toho Gas Co., Ltd. is estimated to be around 45%. This is typical for large, established companies in the utilities sector, as institutional investors often prefer stable and long-term investments.

In 2026, no significant insider transactions were reported. This could indicate that the management and other insiders have confidence in the current company strategy and market value. Such information is important for investors to assess the stability and confidence within the company.

Market share of Toho Gas Co., Ltd.: Estimated at around 10% (2026, based on historical data and market trends)

Major competitors and their market shares:

1. Tokyo Gas Co., Ltd.: around 35%
2. Osaka Gas Co., Ltd.: around 25%
3. Toho Gas Co., Ltd.: around 10%
4. Saibu Gas Co., Ltd.: around 5%
5. Hokkaido Gas Co., Ltd.: around 3%
6. Shizuoka Gas Co., Ltd.: around 2%
7. Tohoku Gas Co., Ltd.: around 2%
8. Other smaller providers: around 18%

Moat of Toho Gas Co., Ltd.:

Toho Gas Co., Ltd. has a moderate moat, mainly based on its regional market presence and long-standing customer relationships. The company is strongly rooted in the Chubu region of Japan, giving it a competitive advantage in this geographical area.

Compared to Tokyo Gas and Osaka Gas, which have larger geographical footprints and diversified business models, Toho Gas's moat is less pronounced. These larger competitors have stronger positions due to their size and infrastructure investments, allowing them to leverage economies of scale more effectively.

Toho Gas could strengthen its moat through investments in new technologies, such as renewable energies or innovative services. However, currently the larger competitors have a significant advantage in terms of market share and resources.

Revenue growth: 3.5% (2025)
Profit growth: 4.2% (2025)
Market share in Japan: 20% (2025, estimated)

Toho Gas Co., Ltd. has experienced moderate revenue and profit growth in recent years. The company benefits from its strong market position in Japan, where it holds approximately 20% of the market share. This position enables Toho Gas to benefit from stable demand for natural gas and related services.

Another positive aspect is the company's diversification into renewable energies and environmentally friendly technologies. This strategic focus could lead to additional sources of revenue in the future and make the company more resilient to market fluctuations.

However, one should also consider the challenges in the energy sector, such as commodity price volatility and regulatory changes that could impact business operations. Overall, Toho Gas Co., Ltd.'s stock appears to be a solid but conservative investment, especially for investors interested in a stable dividend and long-term growth.

Dividend Yield: 2.5% (2025)
Dividend History: Continuous payout over the last 5 years

Toho Gas Co., Ltd. has consistently distributed dividends to its shareholders in recent years. The dividend yield was last around 2.5%, which is competitive compared to other companies in the utilities sector.

The reliability of dividend payment is supported by Toho Gas's stable financial performance and conservative business policy. The company has a solid balance sheet and generates consistent cash flows, which strengthens its ability to pay dividends even in economically challenging times. Analysts expect Toho Gas to maintain its dividend policy unless significant market changes occur.