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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 -2.27 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Takasago International's Beneish M-Score or its related term are showing as below:
TSE:4914'
s Beneish M-Score Range Over the Past 10 Years
Min: -2.68 Med: -2.51 Max: -2.27
Current: -2.27
During the past 13 years, the highest Beneish M-Score of Takasago International was -2.27. The lowest was -2.68. And the median was -2.51.
Takasago International Beneish M-Score Related Terms
Takasago International Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Takasago International'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.
TSE:4914 vs LIN, SHW, ECL: Beneish M-Score Comparison
For the Specialty Chemicals subindustry, Takasago International'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.
Takasago International Beneish M-Score vs Chemicals Industry
For the Chemicals industry and Basic Materials sector, Takasago International's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Takasago International's Beneish M-Score falls into.
Takasago International 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 Takasago International 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 * 1.0808
+
0.528 * 1.0424
+
0.404 * 1.0254
+
0.892 * 0.982
+
0.115 * 1.0917
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1
+
4.679 * 0.019377
-
0.327 * 0.9563
=
-2.27
* 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.
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.
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))
=
(8114 / (8114 + 71081))
/
(8756 / (8756 + 84542))
=
0.102456
/
0.09385
=
1.0917
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
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
=
(9525 - 0
-
4271)
/
271147
=
0.019377
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.
Takasago International has a M-score of -2.27 suggests that the company is unlikely to be a manipulator.
Takasago International (TSE:4914) has a Beneish M-Score of -2.27 as of Jul. 15, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Takasago International and its competitors. According to the industry distribution chart, Takasago International ranks #1030 out of 1525 companies in the Chemicals industry, placing it in the top 67.5%.
Is Takasago International's Beneish M-Score too high?
Takasago International's current Beneish M-Score is -2.27. Based on the distribution chart, Takasago International ranks #1030 out of 1525 companies in the Chemicals industry, which is below the industry midpoint. Overall, Takasago International has a GF Score™ of 74/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Takasago International's Beneish M-Score compare to LIN and SHW?
According to the Chemicals industry distribution chart, Takasago International ranks #1030 out of 1525 companies for Beneish M-Score. This places Takasago International 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 Chemicals company?
A good Beneish M-Score depends on the Chemicals 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 Takasago International and its competitors. Takasago International's current Beneish M-Score is -2.27. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Takasago International stock overvalued right now?
Based on GuruFocus' analysis, Takasago International (TSE:4914) is currently considered Fairly Valued. The stock's GF Value™ is 円1,180.33, compared to a current price of 円1,177.00 — trading 0.3% below its estimated fair value. The current Beneish M-Score is -2.27. Takasago International's overall GF Score™ is 74/100 with 5 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 Takasago International (TSE:4914), the current Beneish M-Score is -2.27 as of Jul. 15, 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.
Is Takasago International (TSE:4914) Overvalued in 2026?
Based on GuruFocus' analysis, Takasago International stock appears to be undervalued.
The current stock price of 円1,177.00 is trading 0.3% below its estimated GF Value™ of 円1,180.33.
GuruFocus considers Takasago International to be Fairly Valued.
Key valuation signals for TSE:4914:
Beneish M-Score: -2.27
GF Value™: 円1,180.33 vs. price of 円1,177.00 (0.3% below fair value)
No single metric tells the full story. See the TSE:4914 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Takasago International Corp is a Japan-based company engaged in the manufacture and sale of flavors, fragrances, aroma chemicals and fine chemicals. The Flavor products include flavors used in frozen desserts, such as beverages and ice creams, gums, confectioneries, processed foods and other processed food materials products. The Fragrance products include fragrances used in detergents, cosmetics and perfuming agents. The Aroma chemicals include menthol, synthetic perfumes such as musk, among others. The Fine chemicals include pharmaceutical intermediates, catalysts, photographic industry drugs and organic electronic materials. The majority of its revenue is generated from Flavors. The company operates its business mainly in Japan and rest from Asia, America, and Europe.
74GF Score
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