# If Toyota Tsusho moves, who benefits? How far does the value-chain ripple reach?
Canonical: https://valuechain.wiki/toyota-tsusho · Facet: ripple · Updated: 2026-10-23T20:29:49.851401+00:00 · Source: ValueChain.wiki (cited money-flow graph)

**Citable summary**: Per the valuechain.wiki graph, Toyota Tsusho is directly linked to 2 companies (1 supply, 0 revenue, 1 investment relationships) and reaches 2 companies within two hops; the links are backed by 13 dated sources, 2 of them primary filings (as of 2026-10-23).

Toyota Tsusho returned +119.8% in 2025 and +31.4% through October 23, 2026. Toyota Motor returned +21.8% and -8.5% over the same periods. A simple sequence of gains passing from auto demand to the trading house does not fit those annual observations. Toyota Tsusho also has African distribution and metal recycling, so the stock gap cannot be assigned to batteries alone. Supplier-side SKC lagged at -25.4% in 2025 and -29.8% in 2026; Asahi Kasei returned +47.1% and +8.0%. SKC copper foil is a possible laggard, subject to operating losses and dilution; Asahi Kasei separator deliveries have their own mid-2027 start date. The 20.0% Toyota-group figure is recognized consolidated revenue, while JPY 2.246646tn of automobile purchases is a related-party transaction amount on a different basis.

## Supply chain (benefiting)
- T1 Asahi Kasei (https://valuechain.wiki/asahi-kasei.md)
- T1 SKC (https://valuechain.wiki/skc.md)

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Full node: https://valuechain.wiki/toyota-tsusho.md · JSON: https://valuechain.wiki/toyota-tsusho.json