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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 -3.05 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Kanamoto Co's Beneish M-Score or its related term are showing as below:
TSE:9678'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.05 Med: -2.9 Max: -2.76
Current: -3.05
During the past 13 years, the highest Beneish M-Score of Kanamoto Co was -2.76. The lowest was -3.05. And the median was -2.90.
Kanamoto Co Beneish M-Score Related Terms
Kanamoto Co Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Kanamoto 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:9678 vs URI, SUNB, AER: Beneish M-Score Comparison
For the Rental & Leasing Services subindustry, Kanamoto 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.
Kanamoto Co Beneish M-Score vs Business Services Industry
For the Business Services industry and Industrials sector, Kanamoto Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Kanamoto 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 Kanamoto 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 * 0.9089
+
0.528 * 0.9526
+
0.404 * 1.0659
+
0.892 * 1.0292
+
0.115 * 1.0077
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1
+
4.679 * -0.112432
-
0.327 * 0.9711
=
-3.05
* 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))
=
(36274 / (36274 + 175070))
/
(35036 / (35036 + 170668))
=
0.171635
/
0.170322
=
1.0077
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
=
(10977 - 0
-
47415)
/
324088
=
-0.112432
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.
Kanamoto Co has a M-score of -3.05 suggests that the company is unlikely to be a manipulator.
Kanamoto Co (TSE:9678) has a Beneish M-Score of -3.05 as of Jul. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Kanamoto Co and its competitors. According to the industry distribution chart, Kanamoto Co ranks #190 out of 1020 companies in the Business Services industry, placing it in the top 18.6%.
Is Kanamoto Co's Beneish M-Score too high?
Kanamoto Co's current Beneish M-Score is -3.05. Based on the distribution chart, Kanamoto Co ranks #190 out of 1020 companies in the Business Services industry, which is in the top quartile — a strong position relative to peers. Overall, Kanamoto Co has a GF Score™ of 80/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Kanamoto Co's Beneish M-Score compare to URI and SUNB?
According to the Business Services industry distribution chart, Kanamoto Co ranks #190 out of 1020 companies for Beneish M-Score. This places Kanamoto Co in the top 19% 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 Business Services company?
A good Beneish M-Score depends on the Business Services 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 Kanamoto Co and its competitors. Kanamoto Co's current Beneish M-Score is -3.05. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Kanamoto Co stock overvalued right now?
Based on GuruFocus' analysis, Kanamoto Co (TSE:9678) is currently considered Significantly Overvalued. The stock's GF Value™ is 円3,324.37, compared to a current price of 円5,090.00 — trading 53.1% above its estimated fair value. The current Beneish M-Score is -3.05. Kanamoto Co's overall GF Score™ is 80/100 with 6 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 Kanamoto Co (TSE:9678), the current Beneish M-Score is -3.05 as of Jul. 24, 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 Kanamoto Co (TSE:9678) Overvalued in 2026?
Based on GuruFocus' analysis, Kanamoto Co stock appears to be overvalued.
The current stock price of 円5,090.00 is trading 53.1% above its estimated GF Value™ of 円3,324.37.
GuruFocus considers Kanamoto Co to be Significantly Overvalued.
Key valuation signals for TSE:9678:
Beneish M-Score: -3.05
GF Value™: 円3,324.37 vs. price of 円5,090.00 (53.1% above fair value)
No single metric tells the full story. See the TSE:9678 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Kanamoto Co Ltd is a provider of construction equipment rentals. The company operates three business segments: construction equipment rental, steel products, and computing products. The construction equipment rental business is Kanamoto's core business, accounting for most of the company's revenue. The company owns various hand tools and construction equipment, such as dump trucks and hydraulic excavators, which it rents out to its customers. The steel products business sells various construction materials for engineering and construction works. The computing products business provides rentals and sale of computer-related equipment. Kanamoto operates in Asia.
80GF Score
Get the complete analysis for TSE:9678
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