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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 -2.31 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Tsubakimoto Chain Co's Beneish M-Score or its related term are showing as below:
TSE:6371'
s Beneish M-Score Range Over the Past 10 Years
Min: -2.79 Med: -2.6 Max: -2.31
Current: -2.31
During the past 13 years, the highest Beneish M-Score of Tsubakimoto Chain Co was -2.31. The lowest was -2.79. And the median was -2.60.
Tsubakimoto Chain Co Beneish M-Score Related Terms
Tsubakimoto Chain Co Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Tsubakimoto Chain 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.
TSE:6371 vs GEV, ETN, PH: Beneish M-Score Comparison
For the Specialty Industrial Machinery subindustry, Tsubakimoto Chain 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.
Tsubakimoto Chain Co Beneish M-Score vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Tsubakimoto Chain Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Tsubakimoto Chain Co's Beneish M-Score falls into.
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 Tsubakimoto Chain 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 * 1.2266
+
0.528 * 0.9978
+
0.404 * 0.9986
+
0.892 * 1.0598
+
0.115 * 1.104
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1
+
4.679 * -0.004748
-
0.327 * 1.2431
=
-2.31
* 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))
=
(14423 / (14423 + 117695))
/
(15153 / (15153 + 138092))
=
0.109168
/
0.098881
=
1.104
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
=
(29708 - 0
-
31891)
/
459784
=
-0.004748
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.
Tsubakimoto Chain Co has a M-score of -2.31 suggests that the company is unlikely to be a manipulator.
Tsubakimoto Chain Co (TSE:6371) has a Beneish M-Score of -2.31 as of Jul. 22, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Tsubakimoto Chain Co and its competitors. According to the industry distribution chart, Tsubakimoto Chain Co ranks #1810 out of 2909 companies in the Industrial Products industry, placing it in the top 62.2%.
Is Tsubakimoto Chain Co's Beneish M-Score too high?
Tsubakimoto Chain Co's current Beneish M-Score is -2.31. Based on the distribution chart, Tsubakimoto Chain Co ranks #1810 out of 2909 companies in the Industrial Products industry, which is below the industry midpoint. Overall, Tsubakimoto Chain Co has a GF Score™ of 86/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Tsubakimoto Chain Co's Beneish M-Score compare to GEV and ETN?
According to the Industrial Products industry distribution chart, Tsubakimoto Chain Co ranks #1810 out of 2909 companies for Beneish M-Score. This places Tsubakimoto Chain 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 an Industrial Products company?
A good Beneish M-Score depends on the Industrial Products 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 Tsubakimoto Chain Co and its competitors. Tsubakimoto Chain Co's current Beneish M-Score is -2.31. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tsubakimoto Chain Co stock overvalued right now?
Based on GuruFocus' analysis, Tsubakimoto Chain Co (TSE:6371) is currently considered Modestly Overvalued. The stock's GF Value™ is 円2,167.13, compared to a current price of 円2,613.00 — trading 20.6% above its estimated fair value. The current Beneish M-Score is -2.31. Tsubakimoto Chain Co's overall GF Score™ is 86/100 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 Tsubakimoto Chain Co (TSE:6371), the current Beneish M-Score is -2.31 as of Jul. 22, 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 Tsubakimoto Chain Co (TSE:6371) Overvalued in 2026?
Based on GuruFocus' analysis, Tsubakimoto Chain Co stock appears to be overvalued.
The current stock price of 円2,613.00 is trading 20.6% above its estimated GF Value™ of 円2,167.13.
GuruFocus considers Tsubakimoto Chain Co to be Modestly Overvalued.
Key valuation signals for TSE:6371:
Beneish M-Score: -2.31
GF Value™: 円2,167.13 vs. price of 円2,613.00 (20.6% above fair value)
No single metric tells the full story. See the TSE:6371 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Tsubakimoto Chain Co. is a Japan-based company that is engaged in manufacturing and sales of various variable speed drives, handling equipment and other related products and services. The company operates through four divisions. The Chain operation supplies chain products, including drive chains and conveyor chains. The Automotive Parts operation provides automotive timing drive systems, timing belts, long belts and others. The Power Transmission Unites and Component operation provides reducers, variable speed drives, motion control units and others. The Materials Handling Systems operation supplies sorting systems, conveyance systems, storage and picking systems and others. The company generates most of its revenue from Japan, America and Europe.
86GF Score
Get the complete analysis for TSE:6371
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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