MARUY vs TYHOY: Which Is the Better Buy in 2026?
Last updated October 2026
Short answer
MARUY (Marubeni Corporation) and TYHOY (Toyota Tsusho Corporation) share investment themes but are different businesses. The right pick is whichever thesis you actually believe, sized so you are not over-concentrated in one theme.
MARUY vs TYHOY: the tie-breaker metrics
Same yardstick, side by side (as of October 2026). Valuation lined up like this is most meaningful for two names in the same corner of the market, which these are. Figures are approximate; verify before investing.
| Metric | MARUY | TYHOY | What it tells you |
|---|---|---|---|
| Market cap | $48.30B | $42.33B | Size. The larger name is the incumbent; the smaller has more room to grow and more to prove. |
| Trailing P/E | 13.12 | 17.91 | Valuation on the last 12 months. A big drop from trailing to forward means the market expects earnings to jump, so more growth is already in the price. |
| Beta | 0.70 | 0.85 | Volatility vs the market. Above 1 swings harder than the index; below 1 is steadier. Higher beta means bigger drawdowns to hold through. |
| Price / book | 1.71 | 2.45 | How much you pay over book value. Very high can signal an asset-light, high-return business or a rich price. |
Before you buy: how MARUY and TYHOY affect your concentration
The metrics above tell you which is the marginally better business. The bigger risk for most people is not picking the slightly worse stock, it is over-concentrating. MARUY and TYHOY share themes, so owning both, or adding either to what you already hold, can quietly push a large share of your portfolio into one bet.
This is the part a generic comparison page cannot answer, because it depends on what you own. Connect your brokerage and Walnut shows your real, combined MARUY and TYHOY exposure, flags overlap with your existing positions, and tells you if adding one would tip you past a concentration you are comfortable with, read-only by default, with your login staying at your broker. Walnut is not an investment adviser.
What does Marubeni Corporation (MARUY) do?
Marubeni Corporation is a Tokyo-based sogo shosha, a trading and investment conglomerate that buys, sells, finances and owns businesses across most of the physical economy. It reports ten operating segments: Lifestyle, Food & Agri Business, Metals & Mineral Resources, Energy & Chemicals, Power & Infrastructure Services, Finance, Leasing & Real Estate Business, Aerospace & Mobility, IT Solutions, and two Next Generation units. Much of its profit comes from stakes in operating companies rather than trading margins: US farm inputs through Helena Agri-Enterprises, US beef through Creekstone Farms, Chilean copper mines, Australian steelmaking coal, aircraft leasing through Aircastle, the aircraft parts distributor DASI, power plants and retail power trading through SmartestEnergy, and US used-car lending through Nowlake. Reported revenue for the year ended March 31, 2026 (fiscal 2025) was ¥8,265.8 billion, but for a trading house net profit is the better gauge of scale, because revenue includes large volumes of low-margin trading.
What does Toyota Tsusho Corporation (TYHOY) do?
Toyota Tsusho is one of Japan's general trading companies (sogo shosha) and the trading arm of the Toyota Group. It buys, sells, ships and processes goods for manufacturers and also owns operating businesses outright. Results are reported in eight divisions. In the year to March 2026, profit attributable to owners was a record ¥370.5 billion, split as Africa ¥94.0 billion, Mobility (car wholesaling and retail outside Africa) ¥63.9 billion, Supply Chain (automotive parts and production logistics) ¥52.8 billion, Circular Economy (scrap, non-ferrous metals, battery materials, chemicals) ¥44.8 billion, Metal+ (steel processing and supply for car plants) ¥43.1 billion, Digital Solutions (semiconductors, electronic parts and IT systems) ¥33.9 billion, Lifestyle (food, grain, insurance) ¥20.7 billion and Green Infrastructure (wind and solar power, machinery) ¥17.9 billion. Revenue was ¥11.56 trillion. As at other trading houses, revenue is mostly goods passing through, so profit is the better measure of size.
MARUY vs TYHOY: how do they differ?
Both fit overlapping themes, but they are not interchangeable. The useful comparison is which set of drivers and risks you want exposure to.
- MARUY drivers: Record profits and the fiscal 2026 forecast; Copper, coal and other commodities.
- TYHOY drivers: Africa and CFAO; Toyota production volumes and logistics.
Which fits which kind of investor
A faster-growing, richer-valued name usually swings harder, so it suits a longer horizon and a higher tolerance for volatility; a steadier, more cash-generative business suits a more conservative or income-minded investor. The honest test is which set of risks you could hold through a drawdown: Commodity prices are the largest swing factor: copper, steelmaking coal and aluminum lifted first-quarter fiscal 2026 resources profit by about ¥23 billion, and the same exposure works in reverse if prices fall or Chinese demand weakens. For TYHOY, toyota Tsusho's earnings move with Toyota's global production and sales, so a slowdown in car output, a shift in Toyota's sourcing, or US tariffs on Japanese and Mexican vehicles and parts would reach Supply Chain, Metal+ and Mobility at once.
MARUY or TYHOY: which should you pick?
MARUY vs TYHOY: the full fundamentals
MARUY. At ¥4,702 a share in Tokyo, Marubeni trades at roughly 13 times its fiscal 2026 EPS forecast of ¥356.75 and about 1.7 times equity per share of ¥2,742.51 at June 30, 2026. Revenue of ¥8.27 trillion in fiscal 2025 overstates the business, because it includes large volumes of low-margin trading; profit and cash flow are the better measures. Core operating cash flow is planned at ¥660 billion for fiscal 2026, above the ¥580 billion net profit forecast, which is what funds buybacks and a dividend that has risen from ¥107.5 in fiscal 2025 to a planned ¥115. The yen is the swing factor in dollar terms: the MARUY quote of ~$29.78 equals the Tokyo price at about ¥158 per dollar, so a one-yen move shifts the ADR by roughly 0.6% before any change in the shares.
TYHOY. The trailing figures add the record April to June 2026 quarter to the year that ended in March, so they run ahead of last year's reported ¥370.5 billion profit. The ¥430 billion forecast for the year to March 2027 would be another record and assumes the dollar at ¥155. The quarter delivered 31% of that target, a little ahead of a straight-line pace, with memory and resource prices doing much of the lifting. Earnings per share should grow faster than profit this year because the June buyback removed about 11% of the shares. Net debt roughly doubled and equity shrank, so leverage is the highest it has been in at least two years.
Headline figures (approximate, October 2026): MARUY shows net profit (fy ended march 2026) ¥543.9B (record), fy2026 net profit forecast ¥580.0B (EPS ~¥356.75), q1 fy2026 net profit ¥186.4B (+20.7% YoY), market cap ~¥7.6T (~$48B) at ¥4,702 in Tokyo; TYHOY shows revenue (ttm to june 2026) ~¥12.5 trillion, operating profit (ttm) ~¥603 billion, profit to owners (ttm) ~¥407 billion, fy to march 2027 forecast (july 2026) ¥630B operating profit, ¥430B profit.
The bottom line: MARUY vs TYHOY
MARUY and TYHOY are related but distinct: same themes, different businesses and risks. Neither wins in the abstract; the right pick is whichever thesis you actually believe, sized so you are not over-concentrated in one theme. Walnut can show your combined MARUY and TYHOY exposure against your real portfolio. It is not an investment adviser.
Wondering how MARUY or TYHOY fits the portfolio you already own? Walnut is an AI investing app that connects your brokerage read-only and answers questions like that about your actual holdings: overlap, concentration, and how each position tracks the S&P 500. Compare the best AI portfolio analyzers or see the best AI investing apps in 2026.
Investing in Marubeni Corporation with AI
Connect the broker you already use and ask Walnut's AI how MARUY fits what you actually hold: whether you own it already through a fund, what it would do to your concentration, and how it has tracked the S&P 500. Read-only by default, and you approve anything before it reaches your broker.
FAQ
What is the difference between MARUY and TYHOY?
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Marubeni Corporation is a Tokyo-based sogo shosha, a trading and investment conglomerate that buys, sells, finances and owns businesses across most of the physical economy. Toyota Tsusho is one of Japan's general trading companies (sogo shosha) and the trading arm of the Toyota Group. They show up together because they share investment themes, but they are different businesses, so the better fit depends on which thesis you are expressing.
Is MARUY or TYHOY the better stock?
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Neither is universally better; they suit different views and risk levels. Walnut is informational, not investment advice. Compare what each does, the tie-breaker metrics above, and the risks, then decide which fits your thesis and what you already own.
Which is cheaper, MARUY or TYHOY?
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A lower multiple is not automatically the better buy: a richer valuation can be justified by faster growth, and a lower one can reflect real risk. Weigh the multiple against how fast each business is compounding.
Should you own both MARUY and TYHOY?
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Because they share themes, owning both concentrates you in that theme. That can be intentional (a focused bet) or accidental (less diversification than it looks). Walnut can show your combined exposure across both, and whether adding either over-concentrates you, before you buy.
What are the risks of MARUY vs TYHOY?
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MARUY: Commodity prices are the largest swing factor: copper, steelmaking coal and aluminum lifted first-quarter fiscal 2026 resources profit by about ¥23 billion, and the same exposure works in reverse if prices fall or Chinese demand weakens. Several US businesses are under pressure. Nowlake's losses on older subprime used-car loans have risen since the third quarter of fiscal 2025, Creekstone's beef margins have weakened, and management tied part of the credit stress to US tariffs. The Wholesale and Retail Power Trading Business had a weak fiscal 2025, showing how quickly trading profits can reverse. Marubeni's history includes large write-downs on overseas acquisitions such as Gavilon, and the higher GC2027 investment ceiling raises the stakes on new deals, which management says take about five years to reach its 10% ROIC target. Japanese trading houses also face governance and capital-efficiency pressure from investors, and returns increasingly depend on buybacks. ADR-specific risks matter too. MARUY is unsponsored and quoted on OTC Pink, so trading is thin, bid-ask spreads can be wide, and Marubeni has no reporting relationship with the SEC. Dividends arrive in dollars after currency conversion, Citi's depositary fees and Japanese withholding tax (15.315% by default, 10% for US residents if treaty relief is applied), and some US brokers charge extra for foreign OTC trades. Yen moves can offset gains in the Tokyo share price. The 1:1 ratio change in 2026 also means many price charts and screeners still show a misleading 52-week high near $426. TYHOY: Toyota Tsusho's earnings move with Toyota's global production and sales, so a slowdown in car output, a shift in Toyota's sourcing, or US tariffs on Japanese and Mexican vehicles and parts would reach Supply Chain, Metal+ and Mobility at once. The yen is a major swing factor: management estimated currency added ¥8.5 billion to profit in the June 2026 quarter, when the dollar averaged ¥159 against ¥145 a year earlier, and the revised forecast assumes ¥155, so a stronger yen would cut reported profit. A good part of the current upswing comes from prices the company does not control. The memory-driven jump at TOMEN DEVICES is the part most likely to reverse. Africa, now about a quarter of profit, carries currency, political and import-policy risk in many small markets. The renewable energy business has produced impairments, including ¥11.0 billion in Japan last year. The ¥663.6 billion buyback more than doubled net debt in a quarter, which leaves less room if markets turn. Governance is another consideration: Toyota Motor owns roughly a quarter of the shares and supplies much of the business, so minority holders rely on the board to keep related-party dealings fair. For US holders, TYHOY is an unsponsored ADR traded over the counter, which can mean thin volume, wider spreads, depositary fees and Japanese tax withheld from dividends.
Walnut is informational, not investment advice. This page is descriptive and not a recommendation to buy or sell MARUY or TYHOY; figures are approximate and dated (as of October 2026). Verify current data before investing.