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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 -3.63 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for W Tokyo's Beneish M-Score or its related term are showing as below:
TSE:9159'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.63 Med: -2.99 Max: -1.56
Current: -3.63
During the past 5 years, the highest Beneish M-Score of W Tokyo was -1.56. The lowest was -3.63. And the median was -2.99.
W Tokyo Beneish M-Score Related Terms
W Tokyo Beneish M-Score Historical Data
* Premium members only.
The historical data trend for W Tokyo'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:9159 vs APP, OMC, TTD: Beneish M-Score Comparison
For the Advertising Agencies subindustry, W Tokyo'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.
W Tokyo Beneish M-Score vs Media - Diversified Industry
For the Media - Diversified industry and Communication Services sector, W Tokyo's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where W Tokyo'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 W Tokyo 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 * 0.4291
+
0.528 * 1.0898
+
0.404 * 0.9362
+
0.892 * 0.9919
+
0.115 * 0.9567
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.8395
+
4.679 * -0.152964
-
0.327 * 0.8406
=
-3.63
* 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))
=
(185.605 / (185.605 + 38.283))
/
(184.006 / (184.006 + 28.332))
=
0.829008
/
0.866571
=
0.9567
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
=
(173.07 - 0
-
568.636)
/
2586.005
=
-0.152964
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.
W Tokyo has a M-score of -3.63 suggests that the company is unlikely to be a manipulator.
W Tokyo (TSE:9159) has a Beneish M-Score of -3.63 as of Jul. 20, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on W Tokyo and its competitors. According to the industry distribution chart, W Tokyo ranks #110 out of 973 companies in the Media - Diversified industry, placing it in the top 11.3%.
Is W Tokyo's Beneish M-Score too high?
W Tokyo's current Beneish M-Score is -3.63. Based on the distribution chart, W Tokyo ranks #110 out of 973 companies in the Media - Diversified industry, which is in the top quartile — a strong position relative to peers. Overall, W Tokyo has a GF Score™ of 60/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does W Tokyo's Beneish M-Score compare to APP and OMC?
According to the Media - Diversified industry distribution chart, W Tokyo ranks #110 out of 973 companies for Beneish M-Score. This places W Tokyo in the top 11% 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 Media - Diversified company?
A good Beneish M-Score depends on the Media - Diversified 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 W Tokyo and its competitors. W Tokyo's current Beneish M-Score is -3.63. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is W Tokyo stock overvalued right now?
Based on GuruFocus' analysis, W Tokyo (TSE:9159) is currently considered Fairly Valued. The stock's GF Value™ is 円1,931.12, compared to a current price of 円1,870.00 — trading 3.2% below its estimated fair value. The current Beneish M-Score is -3.63. W Tokyo's overall GF Score™ is 60/100. 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 W Tokyo (TSE:9159), the current Beneish M-Score is -3.63 as of Jul. 20, 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 W Tokyo (TSE:9159) Overvalued in 2026?
Based on GuruFocus' analysis, W Tokyo stock appears to be undervalued.
The current stock price of 円1,870.00 is trading 3.2% below its estimated GF Value™ of 円1,931.12.
GuruFocus considers W Tokyo to be Fairly Valued.
Key valuation signals for TSE:9159:
Beneish M-Score: -3.63
GF Value™: 円1,931.12 vs. price of 円1,870.00 (3.2% below fair value)
No single metric tells the full story. See the TSE:9159 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
W Tokyo Inc is a branding and content production company that continues to create added value by making use of its production know-how, which has grown the Tokyo Girls Collection into Japan's greatest platform. The company's services include the TGC production area, the Content production and branding area, and the Digital advertising area. The company's brands include TOKYO GIRLS COLLECTION, Girls Walker, VIRTUAL TGC, TGC AUDITION, TGC SCHOOL, TGC Teen, TGC CAMPUS, and others.
60GF Score
Get the complete analysis for TSE:9159
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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