Shochiku Co (TSE:9601) Beneish M-Score: -2.33 (As of Jul. 09, 2026)


TSE:9601 Shochiku Co Ltd TSE:9601
75 GF Score
Price 円10,640.00
GF Value 円12,706.52
Valuation Modestly Undervalued
! 3 Warning Signs
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What is Shochiku Co Beneish M-Score?

Shochiku Co TSE:9601 -0.09% 75 Beneish M-Score is -2.33 as of Jul. 09, 2026. GuruFocus rates TSE:9601 with a GF Score™ of 75/100 and a GF Value™ of 円12,706.52 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 977 Media - Diversified companies, Shochiku Co ranks worse than 66.12% 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 -2.33 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

TSE:9601' s Beneish M-Score Range Over the Past 10 Years
Min: -2.64   Med: -2.58   Max: -2.16
Current: -2.33

During the past 13 years, the highest Beneish M-Score of Shochiku Co was -2.16. The lowest was -2.64. And the median was -2.58.

Shochiku Co Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Shochiku 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.

Shochiku Co Beneish M-Score Chart

Shochiku Co Annual Data
Trend Feb17 Feb18 Feb19 Feb20 Feb21 Feb22 Feb23 Feb24 Feb25 Feb26
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -2.16 -2.63 -2.18 -2.64 -2.33

Shochiku Co Quarterly Data
May21 Aug21 Nov21 Feb22 May22 Aug22 Nov22 Feb23 May23 Aug23 Nov23 Feb24 May24 Aug24 Nov24 Feb25 May25 Aug25 Nov25 Feb26
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -2.64 0.00 0.00 0.00 -2.33

TSE:9601 vs NFLX, DIS, WBD: Beneish M-Score Comparison

For the Entertainment subindustry, Shochiku 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.

Shochiku Co Beneish M-Score vs Media - Diversified Industry

For the Media - Diversified industry and Communication Services sector, Shochiku Co's Beneish M-Score distribution charts can be found below:

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


TSE:9601
75GF Score
Shochiku Co Ltd TSE:9601
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Shochiku 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 Shochiku 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 * 1.0383+0.528 * 1.0077+0.404 * 1.1377+0.892 * 1.17+0.115 * 0.9665
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.7532+4.679 * -0.035408-0.327 * 0.9112
=-2.33

* 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11,974 Mil.
Revenue was 円98,249 Mil.
Gross Profit was 円41,621 Mil.
Total Current Assets was 円45,111 Mil.
Total Assets was 円229,381 Mil.
Property, Plant and Equipment(Net PPE) was 円106,801 Mil.
Depreciation, Depletion and Amortization(DDA) was 円4,867 Mil.
Selling, General, & Admin. Expense(SGA) was 円3,443 Mil.
Total Current Liabilities was 円33,413 Mil.
Long-Term Debt & Capital Lease Obligation was 円55,553 Mil.
Net Income was 円5,236 Mil.
Gross Profit was 円0 Mil.
Cash Flow from Operations was 円13,358 Mil.
 Total Receivables was 円9,857 Mil.
Revenue was 円83,974 Mil.
Gross Profit was 円35,848 Mil.
Total Current Assets was 円38,949 Mil.
Total Assets was 円208,900 Mil.
Property, Plant and Equipment(Net PPE) was 円107,937 Mil.
Depreciation, Depletion and Amortization(DDA) was 円4,747 Mil.
Selling, General, & Admin. Expense(SGA) was 円3,907 Mil.
Total Current Liabilities was 円40,011 Mil.
Long-Term Debt & Capital Lease Obligation was 円48,910 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)
=(11974 / 98249) / (9857 / 83974)
=0.121874 / 0.117382
=1.0383

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)
=(35848 / 83974) / (41621 / 98249)
=0.426894 / 0.423628
=1.0077

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 - (45111 + 106801) / 229381) / (1 - (38949 + 107937) / 208900)
=0.337731 / 0.29686
=1.1377

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
=98249 / 83974
=1.17

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))
=(4747 / (4747 + 107937)) / (4867 / (4867 + 106801))
=0.042127 / 0.043585
=0.9665

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)
=(3443 / 98249) / (3907 / 83974)
=0.035044 / 0.046526
=0.7532

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)
=((55553 + 33413) / 229381) / ((48910 + 40011) / 208900)
=0.387853 / 0.425663
=0.9112

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
=(5236 - 0 - 13358) / 229381
=-0.035408

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.

Shochiku Co has a M-score of -2.33 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 -2.33 mean?
Shochiku Co (TSE:9601) has a Beneish M-Score of -2.33 as of Jul. 09, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Shochiku Co and its competitors. According to the industry distribution chart, Shochiku Co ranks #646 out of 977 companies in the Media - Diversified industry, placing it in the top 66.1%.
Is Shochiku Co's Beneish M-Score too high?
Shochiku Co's current Beneish M-Score is -2.33. Based on the distribution chart, Shochiku Co ranks #646 out of 977 companies in the Media - Diversified industry, which is below the industry midpoint. Overall, Shochiku Co has a GF Score™ of 75/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Shochiku Co's Beneish M-Score compare to NFLX and DIS?
According to the Media - Diversified industry distribution chart, Shochiku Co ranks #646 out of 977 companies for Beneish M-Score. This places Shochiku 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 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 Shochiku Co and its competitors. Shochiku Co's current Beneish M-Score is -2.33. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Shochiku Co stock overvalued right now?
Based on GuruFocus' analysis, Shochiku Co (TSE:9601) is currently considered Modestly Undervalued. The stock's GF Value™ is 円12,706.52, compared to a current price of 円10,640.00 — trading 16.3% below its estimated fair value. The current Beneish M-Score is -2.33. Shochiku Co's overall GF Score™ is 75/100 with 3 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 Shochiku Co (TSE:9601), the current Beneish M-Score is -2.33 as of Jul. 09, 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 Shochiku Co (TSE:9601) Overvalued in 2026?

Based on GuruFocus' analysis, Shochiku Co stock appears to be undervalued. The current stock price of 円10,640.00 is trading 16.3% below its estimated GF Value™ of 円12,706.52. GuruFocus considers Shochiku Co to be Modestly Undervalued.

Key valuation signals for TSE:9601:

  • Beneish M-Score: -2.33
  • GF Value™: 円12,706.52 vs. price of 円10,640.00 (16.3% below fair value)
  • GF Score™: 75/100 with 3 warning signs

No single metric tells the full story. See the TSE:9601 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Shochiku Co Business Description

Address 1-1, Tsukiji 4-chome, Chuo-ku, Tokyo, JPN, 104-8422
Shochiku Co Ltd is a diversified media company that mainly operates in the film and production industry. The company has three business segments, which include Video-related business, theater business, and real estate business. The Video-related business includes the production, sale, distribution, and exhibition of theatrical films, the production and sale of television films, and BS/CS broadcasting. The theatre segment includes planning, production, and staging of theatrical performances, as well as the placement of actors and talents, and dance. The real estate business segment owns and leases development properties. The other business largely focuses on merchandise sales. The company earns the vast majority of its revenue in Japan.
75GF Score

Get the complete analysis for TSE:9601

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

円10,640.00
Price
円12,706.52
GF Value