Izawa Towel Co (TSE:365A) Beneish M-Score: -1.98 (As of Jul. 23, 2026)

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TSE:365A Izawa Towel Co Ltd TSE:365A
15 GF Score
Price 円798.00
! 1 Warning Sign
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What is Izawa Towel Co Beneish M-Score?

Izawa Towel Co TSE:365A +2.18% 15 Beneish M-Score is -1.98 as of Jul. 23, 2026. GuruFocus rates TSE:365A with a GF Score™ of 15/100. The stock has 1 warning sign investors should review. Among 998 Manufacturing - Apparel & Accessories companies, Izawa Towel Co ranks worse than 77.96% 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 -1.98 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

TSE:365A' s Beneish M-Score Range Over the Past 10 Years
Min: -1.98   Med: -1.98   Max: -1.98
Current: -1.98

During the past 3 years, the highest Beneish M-Score of Izawa Towel Co was -1.98. The lowest was -1.98. And the median was -1.98.

Izawa Towel Co Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Izawa Towel 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.

Izawa Towel Co Beneish M-Score Chart

Izawa Towel Co Annual Data
Trend Feb24 Feb25 Feb26
Beneish M-Score
0.00 0.00 -1.98

Izawa Towel Co Semi-Annual Data
Feb24 Feb25 Aug25 Feb26
Beneish M-Score 0.00 0.00 0.00 -1.98

Izawa Towel Co Beneish M-Score Competitor Comparison

For the Textile Manufacturing subindustry, Izawa Towel 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.

Izawa Towel Co Beneish M-Score vs Manufacturing - Apparel & Accessories Industry

For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Izawa Towel Co's Beneish M-Score distribution charts can be found below:

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


TSE:365A
15GF Score
Izawa Towel Co Ltd TSE:365A
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Izawa Towel 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 Izawa Towel 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 * 1.2735+0.528 * 0.9467+0.404 * 0.9912+0.892 * 1.0466+0.115 * 0.9934
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1+4.679 * 0.048101-0.327 * 0.954
=-1.98

* 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 (Feb26) TTM:Last Year (Feb25) TTM:
Total Receivables was 円2,012 Mil.
Revenue was 円10,283 Mil.
Gross Profit was 円2,249 Mil.
Total Current Assets was 円4,279 Mil.
Total Assets was 円8,477 Mil.
Property, Plant and Equipment(Net PPE) was 円723 Mil.
Depreciation, Depletion and Amortization(DDA) was 円215 Mil.
Selling, General, & Admin. Expense(SGA) was 円0 Mil.
Total Current Liabilities was 円1,505 Mil.
Long-Term Debt & Capital Lease Obligation was 円2,835 Mil.
Net Income was 円726 Mil.
Gross Profit was 円0 Mil.
Cash Flow from Operations was 円318 Mil.
 Total Receivables was 円1,509 Mil.
Revenue was 円9,825 Mil.
Gross Profit was 円2,034 Mil.
Total Current Assets was 円4,195 Mil.
Total Assets was 円8,380 Mil.
Property, Plant and Equipment(Net PPE) was 円720 Mil.
Depreciation, Depletion and Amortization(DDA) was 円212 Mil.
Selling, General, & Admin. Expense(SGA) was 円0 Mil.
Total Current Liabilities was 円1,433 Mil.
Long-Term Debt & Capital Lease Obligation was 円3,065 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)
=(2011.576 / 10283.187) / (1509.191 / 9825.36)
=0.195618 / 0.153602
=1.2735

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)
=(2034.312 / 9825.36) / (2249.009 / 10283.187)
=0.207047 / 0.218707
=0.9467

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 - (4279.267 + 722.557) / 8476.887) / (1 - (4194.779 + 719.593) / 8380.076)
=0.409946 / 0.413565
=0.9912

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
=10283.187 / 9825.36
=1.0466

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))
=(212.479 / (212.479 + 719.593)) / (215.185 / (215.185 + 722.557))
=0.227964 / 0.229471
=0.9934

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)
=(0 / 10283.187) / (0 / 9825.36)
=0 / 0
=1

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)
=((2835 + 1505.25) / 8476.887) / ((3065 + 1432.805) / 8380.076)
=0.51201 / 0.536726
=0.954

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
=(726.067 - 0 - 318.317) / 8476.887
=0.048101

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.

Izawa Towel Co has a M-score of -1.98 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 -1.98 mean?
Izawa Towel Co (TSE:365A) has a Beneish M-Score of -1.98 as of Jul. 23, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Izawa Towel Co and its competitors. According to the industry distribution chart, Izawa Towel Co ranks #778 out of 998 companies in the Manufacturing - Apparel & Accessories industry, placing it in the top 78%.
Is Izawa Towel Co's Beneish M-Score too high?
Izawa Towel Co's current Beneish M-Score is -1.98. Based on the distribution chart, Izawa Towel Co ranks #778 out of 998 companies in the Manufacturing - Apparel & Accessories industry, which is in the bottom quartile relative to peers. Overall, Izawa Towel Co has a GF Score™ of 15/100, reflecting its overall financial health beyond just this single metric.
How does Izawa Towel Co's Beneish M-Score compare to competitors?
According to the Manufacturing - Apparel & Accessories industry distribution chart, Izawa Towel Co ranks #778 out of 998 companies for Beneish M-Score. This places Izawa Towel Co in the lower half of its industry. 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 Manufacturing - Apparel & Accessories company?
A good Beneish M-Score depends on the Manufacturing - Apparel & Accessories 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 Izawa Towel Co and its competitors. Izawa Towel Co's current Beneish M-Score is -1.98. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Izawa Towel Co stock overvalued right now?
Izawa Towel Co (TSE:365A) has a current Beneish M-Score of -1.98. The current Beneish M-Score is -1.98. Izawa Towel Co's overall GF Score™ is 15/100 with 1 warning sign 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 Izawa Towel Co (TSE:365A), the current Beneish M-Score is -1.98 as of Jul. 23, 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.

Izawa Towel Co Business Description

Address 1-26-6 Ebisunishi, Shibuya-ku, Tokyo, JPN, 150-0021
Izawa Towel Co Ltd manufacturer and distributor of towel products. The company products such as face towels, bath towels, oshibori (wet hand towels), towel blankets, and towel sheets.
15GF Score

Get the complete analysis for TSE:365A

Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

円798.00
Price