Kuroda Group Co (TSE:287A) Beneish M-Score: -2.87 (As of Jul. 25, 2026)

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TSE:287A Kuroda Group Co Ltd TSE:287A
13 GF Score
Price 円1,098.00
! 7 Warning Signs
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What is Kuroda Group Co Beneish M-Score?

Kuroda Group Co TSE:287A 13 Beneish M-Score is -2.87 as of Jul. 25, 2026. GuruFocus rates TSE:287A with a GF Score™ of 13/100. The stock has 7 warning signs investors should review. Among 539 Conglomerates companies, Kuroda Group Co ranks better than 83.3% on this metric.

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Good Sign:

Beneish M-Score -2.87 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Kuroda Group Co's Beneish M-Score or its related term are showing as below:

TSE:287A' s Beneish M-Score Range Over the Past 10 Years
Min: -2.96   Med: -2.87   Max: -2.78
Current: -2.87

During the past 5 years, the highest Beneish M-Score of Kuroda Group Co was -2.78. The lowest was -2.96. And the median was -2.87.

Kuroda Group Co Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Kuroda Group Co's Beneish M-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Kuroda Group Co Beneish M-Score Chart

Kuroda Group Co Annual Data
Trend Mar22 Mar23 Mar24 Mar25 Mar26
Beneish M-Score
0.00 0.00 -2.96 -2.78 -2.87

Kuroda Group Co Semi-Annual Data
Mar22 Mar23 Sep23 Mar24 Sep24 Mar25 Sep25 Mar26
Beneish M-Score Get a 7-Day Free Trial -2.96 0.00 -2.78 0.00 -2.87

TSE:287A vs HON, MMM: Beneish M-Score Comparison

For the Conglomerates subindustry, Kuroda Group Co's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Kuroda Group Co Beneish M-Score vs Conglomerates Industry

For the Conglomerates industry and Industrials sector, Kuroda Group Co's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Kuroda Group Co's Beneish M-Score falls into.


TSE:287A
13GF Score
Kuroda Group Co Ltd TSE:287A
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Kuroda Group Co Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of Kuroda Group Co for today is based on a combination of the following eight different indices:

M=-4.84+0.92 * DSRI+0.528 * GMI+0.404 * AQI+0.892 * SGI+0.115 * DEPI
=-4.84+0.92 * 0.8111+0.528 * 1.037+0.404 * 1.0748+0.892 * 1.0121+0.115 * 1.0593
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.0109+4.679 * -0.062877-0.327 * 0.9618
=-2.87

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Mar26) TTM:Last Year (Mar25) TTM:
Total Receivables was 円23,647 Mil.
Revenue was 円122,796 Mil.
Gross Profit was 円20,871 Mil.
Total Current Assets was 円55,195 Mil.
Total Assets was 円97,985 Mil.
Property, Plant and Equipment(Net PPE) was 円17,057 Mil.
Depreciation, Depletion and Amortization(DDA) was 円2,400 Mil.
Selling, General, & Admin. Expense(SGA) was 円15,681 Mil.
Total Current Liabilities was 円33,778 Mil.
Long-Term Debt & Capital Lease Obligation was 円19,383 Mil.
Net Income was 円3,521 Mil.
Gross Profit was 円0 Mil.
Cash Flow from Operations was 円9,682 Mil.
 Total Receivables was 円28,805 Mil.
Revenue was 円121,327 Mil.
Gross Profit was 円21,384 Mil.
Total Current Assets was 円56,158 Mil.
Total Assets was 円95,782 Mil.
Property, Plant and Equipment(Net PPE) was 円16,220 Mil.
Depreciation, Depletion and Amortization(DDA) was 円2,438 Mil.
Selling, General, & Admin. Expense(SGA) was 円15,327 Mil.
Total Current Liabilities was 円32,630 Mil.
Long-Term Debt & Capital Lease Obligation was 円21,399 Mil.

1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI=(Receivables_t / Revenue_t) / (Receivables_t-1 / Revenue_t-1)
=(23647 / 122796) / (28805 / 121327)
=0.192571 / 0.237416
=0.8111

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI=GrossMargin_t-1 / GrossMargin_t
=(GrossProfit_t-1 / Revenue_t-1) / (GrossProfit_t / Revenue_t)
=(21384 / 121327) / (20871 / 122796)
=0.176251 / 0.169965
=1.037

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI=(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) / (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
=(1 - (55195 + 17057) / 97985) / (1 - (56158 + 16220) / 95782)
=0.262622 / 0.244347
=1.0748

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI=Sales_t / Sales_t-1
=Revenue_t / Revenue_t-1
=122796 / 121327
=1.0121

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI=(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1)) / (Depreciation_t / (Depreciaton_t + PPE_t))
=(2438 / (2438 + 16220)) / (2400 / (2400 + 17057))
=0.130668 / 0.123349
=1.0593

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI=(SGA_t / Sales_t) / (SGA_t-1 /Sales_t-1)
=(15681 / 122796) / (15327 / 121327)
=0.1277 / 0.126328
=1.0109

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI=((LTD_t + CurrentLiabilities_t) / TotalAssets_t) / ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
=((19383 + 33778) / 97985) / ((21399 + 32630) / 95782)
=0.542542 / 0.564083
=0.9618

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA=(IncomefromContinuingOperations_t - CashFlowsfromOperations_t) / TotalAssets_t
=(NetIncome_t - NonOperatingIncome_t - CashFlowsfromOperations_t) / TotalAssets_t
=(3521 - 0 - 9682) / 97985
=-0.062877

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Kuroda Group Co has a M-score of -2.87 suggests that the company is unlikely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of -2.87 mean?
Kuroda Group Co (TSE:287A) has a Beneish M-Score of -2.87 as of Jul. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Kuroda Group Co and its competitors. According to the industry distribution chart, Kuroda Group Co ranks #90 out of 539 companies in the Conglomerates industry, placing it in the top 16.7%.
Is Kuroda Group Co's Beneish M-Score too high?
Kuroda Group Co's current Beneish M-Score is -2.87. Based on the distribution chart, Kuroda Group Co ranks #90 out of 539 companies in the Conglomerates industry, which is in the top quartile — a strong position relative to peers. Overall, Kuroda Group Co has a GF Score™ of 13/100, reflecting its overall financial health beyond just this single metric.
How does Kuroda Group Co's Beneish M-Score compare to HON and MMM?
According to the Conglomerates industry distribution chart, Kuroda Group Co ranks #90 out of 539 companies for Beneish M-Score. This places Kuroda Group Co in the top 17% of its industry — outperforming the majority of peers. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Beneish M-Score for a Conglomerates company?
A good Beneish M-Score depends on the Conglomerates industry context. However, Beneish M-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Beneish M-Score mean?
A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Kuroda Group Co and its competitors. Kuroda Group Co's current Beneish M-Score is -2.87. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Kuroda Group Co stock overvalued right now?
Kuroda Group Co (TSE:287A) has a current Beneish M-Score of -2.87. The current Beneish M-Score is -2.87. Kuroda Group Co's overall GF Score™ is 13/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Beneish M-Score calculated?
Beneish M-Score is calculated from a company's financial statements. For Kuroda Group Co (TSE:287A), the current Beneish M-Score is -2.87 as of Jul. 25, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Kuroda Group Co Business Description

Address 5-17-9 Minami-Oi, Shinagawa-ku, Tokyo, JPN, 140-0013
Kuroda Group Co Ltd is engaged in Manufacturing and sales of oriented film printing plates for liquid crystal displays, automation equipment, plastic injection molds, parts for HDD, electrical facilities materials and power materials, and aluminium die-cast products, design and contract development of printed circuit boards, sales of electronic parts and electrical materials to the electronics and automotive industries.
13GF Score

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