Maruha Nichiro (1333) AI Stock Analysis

• Market Cap: ¥240.52B
• Dividend Yield: 2.84%
• Average Volume (3M): 155.10K
• Price to Earnings (P/E): 13.7
• Beta (1Y): 0.65
• Revenue Growth: 2.63%
• EPS Growth: -7.81%
• Country: JP
• Employees: 12,531
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Agricultural Farm Products
• EPS (TTM): 33.37
• Shares Outstanding: 151,736,510
• 10 Day Avg. Volume: 139,250
• 30 Day Avg. Volume: 155,100
• PEG Ratio: 0.60
• Price to Book (P/B): 0.72
• Price to Sales (P/S): 0.15
• P/FCF Ratio: 8.80
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 76 Outperform
• Price Target: ¥1,704.00 ▲(30.37% Upside)
• Action: Reiterated Date: 02/18/26
• Date: Action: Reiterated 02/18/26

The score is primarily driven by strong financial performance (improving revenue and profitability with solid cash flow), with technicals supportive but showing overbought signals. Valuation is reasonably attractive given the P/E and dividend yield, while elevated debt remains the key financial risk.

Positive Factors

Consistent revenue growth & margin improvement

Sustained top-line expansion and improving gross, EBIT and net margins indicate durable operating leverage and better cost control. A larger revenue base and higher margins support reinvestment, pricing power with suppliers/customers, and longer-term profitability resilience.

Strong operating cash generation

Consistent operating cash inflows above net income and positive free cash flow provide structural flexibility to fund capex, service debt, pay dividends or pursue M&A without relying on equity markets, strengthening long-term financial stability.

Vertically integrated and diversified business model

Vertical integration across harvesting, processing, brands and logistics spreads operational risk, captures value across the supply chain, and diversifies revenue across retail, foodservice and industrial channels, supporting stable earnings over economic cycles.

Negative Factors

Elevated total debt level

A relatively high debt stock increases leverage sensitivity to rate rises and economic slowdowns, constraining capital allocation. Persistent leverage can limit strategic flexibility and amplify downside in a prolonged margin or demand downturn.

Exposure to commodity, input-cost and FX volatility

Structural exposure to volatile seafood prices, fuel/feed costs and FX creates recurring margin pressure risk. Sustained input swings or weaker pass-through to customers can erode profitability and require expensive hedging or working-capital solutions.

Negative recent EPS growth

A ~19% decline in EPS signals earnings-per-share pressure despite revenue growth, implying margin volatility, higher interest or non-operating impacts, or dilution. Persistent EPS weakness can limit shareholder returns and reduce financial flexibility.

Maruha Nichiro Business Overview & Revenue Model

Company Description

Maruha Nichiro Corporation engages in the fishing, fish farming, food processing, trading, meat products, and distribution businesses in Japan and internationally. The company offers seafood products; and operates Bluefin tuna and other farms. It also provides frozen and processed food products, including canned, fish sausage, nursing care, supplement, cosmetic, institutional, pet, and space food products, as well as desserts and retort pouch foods. In addition, the company engages in the trade and supply of shrimps and octopus; production of beef, pork, chicken, and processed products; distribution of fish; and development of freezing technology for a network of cold storage businesses. Maruha Nichiro Corporation was founded in 1880 and is headquartered in Tokyo, Japan.

How the Company Makes Money

Maruha Nichiro generates revenue primarily through the sale of its seafood products, which includes fresh and frozen fish, shellfish, and processed seafood items. The company also has a significant presence in the processed food sector, offering ready-to-eat meals and other food products. Key revenue streams come from both retail and wholesale channels, with partnerships established with major supermarkets, restaurants, and food service providers. Additionally, Maruha Nichiro invests in aquaculture and sustainable fishing practices, which helps secure a steady supply of raw materials while enhancing its reputation in the market. The company also explores opportunities in health food products, contributing to its diversification and overall earnings.

Maruha Nichiro Financial Statement Overview

Summary

Strong income statement trends (revenue growth and improving margins) and solid cash generation support a high score, partially offset by balance sheet risk from a high (though manageable) debt level.

Income Statement

Maruha Nichiro has demonstrated a strong revenue growth with consistent improvements in total revenue over the years, reaching JPY 1,078.63 billion in 2025 from JPY 809.05 billion in 2021. The gross profit margin has also improved, indicating better cost management. The net profit margin saw a healthy increase, highlighting enhanced profitability. EBIT and EBITDA margins have improved, showing strong operational performance. Overall, the income statement reflects robust growth and profitability trends.

Balance Sheet

The company's balance sheet shows a moderate debt-to-equity ratio, with total debt being high but manageable due to increasing stockholders' equity. The return on equity has improved over the years, suggesting efficient use of equity to generate profits. The equity ratio is stable, indicating a balanced approach to financing. However, the high level of debt remains a potential risk, which is partially offset by a strong equity base.

Cash Flow

Maruha Nichiro has shown strong cash flow generation capabilities, with operating cash flow consistently exceeding net income, indicating good cash management. Free cash flow has been positive and growing, though the free cash flow growth rate has fluctuated year over year. The company has maintained a healthy operating cash flow to net income ratio, reflecting efficient cash flow operations. Overall, cash flow metrics are solid, though there is room for improvement in managing capital expenditures.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	1.09T	1.08T	1.03T	1.02T	866.70B	809.05B
Gross Profit	148.44B	145.60B	133.82B	135.25B	120.50B	108.54B
EBITDA	66.68B	65.11B	57.24B	50.52B	46.67B	29.20B
Net Income	23.22B	23.26B	20.85B	18.60B	16.90B	5.75B
Balance Sheet
Total Assets	714.33B	681.21B	671.80B	637.23B	548.60B	532.72B
Cash, Cash Equivalents and Short-Term Investments	49.71B	49.24B	37.94B	33.68B	24.95B	31.58B
Total Debt	299.80B	270.91B	284.35B	301.14B	250.60B	259.84B
Total Liabilities	444.20B	405.82B	426.32B	424.71B	360.71B	365.72B
Stockholders Equity	226.53B	229.57B	207.13B	178.31B	160.17B	142.83B
Cash Flow
Free Cash Flow	0.00	18.67B	35.42B	-20.93B	4.76B	10.51B
Operating Cash Flow	0.00	37.68B	52.08B	-574.00M	19.58B	33.28B
Investing Cash Flow	0.00	-4.54B	-20.86B	-25.51B	-12.02B	-13.43B
Financing Cash Flow	0.00	-25.20B	-29.49B	32.49B	-15.77B	-9.30B

Maruha Nichiro Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1307.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:1333, the sentiment is Positive. The current price of 1307 is below the 20-day moving average (MA) of 1481.55, below the 50-day MA of 1395.89, and above the 200-day MA of 1172.62, indicating a bullish trend. The MACD of 45.52 indicates Negative momentum. The RSI at 76.21 is Negative, neither overbought nor oversold. The STOCH value of 91.89 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:1333.

Maruha Nichiro Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
1333	76 Outperform	¥240.52B	13.67	9.42%	2.84%	2.63%	-7.81%
1379	75 Outperform	¥63.44B	9.99	―	2.44%	5.74%	76.28%
2292	70 Neutral	¥101.17B	12.63	―	3.59%	4.55%	79.33%
9955	65 Neutral	¥37.81B	10.39	―	0.72%	-2.02%	103.08%
2938	63 Neutral	¥61.29B	25.68	―	0.34%	4.70%	-2.58%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
7443	61 Neutral	¥4.50B	23.68	―	0.95%	5.88%	16.27%

Maruha Nichiro Corporate Events

Maruha Nichiro Discloses Price, New Closing Date for Subsidiary Buyout

Maruha Nichiro has revised previously disclosed details regarding its move to turn a consolidated subsidiary into a wholly owned unit, clarifying both the acquisition price and the closing date. The company will acquire 18,039 additional shares, raising its holding from 81.96% to 100,000 shares, or full ownership.

The acquisition price, now disclosed, is set at 47,528 thousand euros, equivalent to approximately 8,773 million yen, underscoring the scale of the investment. The share transfer, initially scheduled for late December 2025, has been updated to close on January 13, 2026, signaling finalized terms and greater transparency for investors regarding the capital commitment and timing.

The most recent analyst rating on (JP:1333) stock is a Buy with a Yen1635.00 price target. To see the full list of analyst forecasts on Maruha Nichiro stock, see the JP:1333 Stock Forecast page.

Maruha Nichiro Issues Supplementary 3Q FY2025 Financial Results Materials

Maruha Nichiro released supplementary materials summarizing its consolidated financial results for the third quarter of the fiscal year ending March 2026, covering the period from April to December 2025. The document signals ongoing disclosure of performance trends, but provides no specific figures or operational details, limiting immediate insight into earnings, segment performance, or strategic shifts for investors and market observers.

The most recent analyst rating on (JP:1333) stock is a Buy with a Yen1635.00 price target. To see the full list of analyst forecasts on Maruha Nichiro stock, see the JP:1333 Stock Forecast page.

Maruha Nichiro Lifts Profit Outlook and Year-End Dividend on Extraordinary Gains

Maruha Nichiro has revised its full-year earnings outlook for the fiscal year ending March 2026, keeping net sales and operating and ordinary income targets unchanged but raising its forecast for profit attributable to owners of parent from ¥17.5 billion to ¥19.5 billion. The upward revision is driven by expected extraordinary gains from the sale of investment securities under its cross-shareholding reduction policy and from the sale of rental real estate, partially offset by extraordinary losses linked to business structure reforms.

Reflecting the stronger profit outlook, the company also raised its year-end dividend forecast for the same fiscal year to 24 yen per share before the recent three-for-one stock split, up from the previous forecast of 20 yen, bringing the total annual dividend projection to 122 yen pre-split. This move signals management’s confidence in earnings resilience and capital efficiency initiatives, while offering higher returns to shareholders despite profit levels still trailing the previous fiscal year’s results.

The most recent analyst rating on (JP:1333) stock is a Buy with a Yen1635.00 price target. To see the full list of analyst forecasts on Maruha Nichiro stock, see the JP:1333 Stock Forecast page.

Maruha Nichiro Q3 Profit Slumps Despite Higher Sales and Firm Dividend Payout

Maruha Nichiro reported consolidated net sales of ¥837.6 billion for the third quarter of the fiscal year ending March 31, 2026, up 1.1% year on year, with operating income rising 5.5% to ¥29.4 billion but ordinary income falling 5.7% and profit attributable to owners of parent dropping 24.7% to ¥17.5 billion. Total assets increased to ¥779.4 billion while the equity-to-asset ratio declined to 30.7%, and despite weaker profits, the company has maintained an interim dividend of ¥50 per share and signaled a higher effective full-year dividend versus the prior year, supported by a recent three-for-one share split and an unchanged full-year sales outlook of ¥1.08 trillion alongside lower projected earnings.

For the full year to March 2026, Maruha Nichiro forecasts flat net sales growth at ¥1.08 trillion and a 1.3% decline in operating income to ¥30.0 billion, with ordinary income expected to fall 10.1% and net profit to decrease 16.2% to ¥19.5 billion, reflecting pressure on profitability despite stable top-line performance. The share split effective January 1, 2026, together with the planned year-end dividend, effectively lifts the projected annual payout to the equivalent of ¥122 per pre-split share, indicating a commitment to shareholder returns even as margins tighten and leverage modestly increases, which will be closely watched by investors assessing the firm’s earnings quality and capital policy.

The most recent analyst rating on (JP:1333) stock is a Buy with a Yen1635.00 price target. To see the full list of analyst forecasts on Maruha Nichiro stock, see the JP:1333 Stock Forecast page.

Maruha Nichiro to Spin Off Tokachi Beef Plant and Sell New Subsidiary to OIC Group

Maruha Nichiro will separate its Tokachi Processing Plant business in Obihiro, Hokkaido—focused on the processing and production of domestically produced beef sold mainly to mass retailers and consumer cooperatives in Honshu—into a new subsidiary, Tokachi Meat Center Co., Ltd., via a simple incorporation-type company split effective April 1, 2026. All 200 shares of the new company will then be transferred to meat distributor OIC Group Co., Ltd., with the assets, liabilities, and obligations of the beef business moving to the new entity; the move is intended to place the beef operation under an owner whose core business is high value-added meat distribution, supporting smoother operations and long-term expansion, while leaving Maruha Nichiro’s capital structure unchanged and allowing it to further focus on its broader food and marine product businesses.

The most recent analyst rating on (JP:1333) stock is a Buy with a Yen3815.00 price target. To see the full list of analyst forecasts on Maruha Nichiro stock, see the JP:1333 Stock Forecast page.

Maruha Nichiro to Fully Acquire Seafood Connection Holding B.V.

Maruha Nichiro Corporation has announced its decision to acquire the remaining shares of Seafood Connection Holding B.V., making it a wholly owned subsidiary. This strategic move is part of the company’s efforts to strengthen its management structure and accelerate profit expansion in Europe, a key region in its overseas strategy. By fully integrating SCH, Maruha Nichiro aims to enhance its global earnings and work towards its long-term vision of increasing the overseas ordinary income ratio to 70%.

The most recent analyst rating on (JP:1333) stock is a Buy with a Yen3815.00 price target. To see the full list of analyst forecasts on Maruha Nichiro stock, see the JP:1333 Stock Forecast page.