Fuji Nihon Seito Corporation (2114) AI Stock Analysis

• Market Cap: ¥34.62B
• Dividend Yield: 2.84%
• Average Volume (3M): 8.71K
• Price to Earnings (P/E): 11.3
• Beta (1Y): 0.25
• Revenue Growth: 6.64%
• EPS Growth: 10.48%
• Country: JP
• Employees: 234
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Food Confectioners
• EPS (TTM): 21.57
• Shares Outstanding: 51,437,400
• 10 Day Avg. Volume: 7,980
• 30 Day Avg. Volume: 8,710
• PEG Ratio: 0.45
• Price to Book (P/B): 1.15
• Price to Sales (P/S): 0.98
• P/FCF Ratio: 9.12
• 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: 71 Outperform
• Price Target: ¥745.00 ▲(20.75% Upside)
• Action: Reiterated Date: 10/29/25
• Date: Action: Reiterated 10/29/25

Fuji Nihon Seito Corporation's overall stock score is driven by strong financial performance and attractive valuation. The company's robust financial health and low P/E ratio are significant strengths. However, technical analysis presents mixed signals, with bearish momentum indicators suggesting caution. The absence of earnings call and corporate events data limits additional insights.

Positive Factors

Strong free cash flow generation

The company converted earnings into cash effectively, producing ¥3,015m FCF and OCF/net income of 1.17. Durable cash generation supports capex, dividends and debt servicing, giving flexibility to invest in higher-margin products and weather commodity cycles over the next several quarters.

Conservative balance sheet and equity base

A low D/E of 0.20 and a strong equity ratio (~70.6%) indicate conservative leverage and capital resilience. This structural balance-sheet strength provides capacity to absorb shocks, fund strategic investments, and maintain credit access without relying on volatile market financing.

Consistent revenue growth and healthy margins

Sustained revenue growth with double-digit EBITDA and healthy net margins signal competitive positioning in sugar and ingredients. Stable margins reflect pricing power or cost control, supporting profits across business cycles and enabling reinvestment in value-added product lines.

Negative Factors

Rising total liabilities

Though leverage is low today, the trend of rising total liabilities increases contingent financial risk. If liabilities rise faster than cash generation, it could pressure liquidity or force higher-cost financing, limiting strategic flexibility over the medium term.

Negative investing cash flow from capex

Sustained negative investing cash flow driven by capex can strain free cash flow if operational cash growth slows. Over 2-6 months, elevated capex without proportional revenue uplift could reduce available liquidity for dividends or debt reduction.

Exposure to commodity input cost volatility

Business economics rely on the spread between raw sugar procurement and selling prices. Structural commodity volatility or adverse raw sugar price moves can compress margins unless the firm secures inputs or passes costs through, a persistent risk for sugar processors.

Fuji Nihon Seito Corporation Business Overview & Revenue Model

Company Description

Fuji Nihon Seito Corporation manufactures and sells various sugar products in Japan. It offers refined, granulated, soft white and brown, brown and white coarse, and liquid sugar, as well as syrup. The company also provides cut flower preservatives; powder/emulsion materials, including vitamin A, D3, and E, as well as ß-carotene; mixed powder materials, such as vitamin mixed materials, amino acid mixed materials, mixed flavor materials, etc.; and functional-foods materials comprising catechin, pectin, maitake, siraitia grosvnorii, fruit juice essence, etc. In addition, it upgrades poor water-solubility matters to water-soluble materials; and offers an inulin product. The company was founded in 1949 and is headquartered in Tokyo, Japan.

How the Company Makes Money

Fuji Nihon Seito Corporation generates revenue primarily through the production and sale of sweeteners, which are essential ingredients used in a wide range of consumer products. The company’s revenue model is based on the sale of both bulk sweeteners to large manufacturers and retail products directly to consumers. Key revenue streams include contracts with food manufacturers for customized sweetening solutions, partnerships with retailers for branded products, and exports to international markets. Additionally, the company invests in research and development to create new product lines, enhancing its market presence and driving sales growth. Strategic collaborations with other food industry players further contribute to its earnings by expanding its distribution channels and product offerings.

Fuji Nihon Seito Corporation Financial Statement Overview

Summary

Fuji Nihon Seito Corporation demonstrates strong financial health with consistent revenue growth, solid profitability margins, and effective cash flow management. The company maintains a low debt-to-equity ratio and a strong equity base, indicating financial stability. However, increasing total liabilities require careful monitoring.

Income Statement

Fuji Nihon Seito Corporation demonstrates robust performance in its income statement with consistent revenue growth, notably a 9.0% increase from 2024 to 2025. The company maintains strong profitability, with a gross profit margin of 26.9% and a net profit margin of 10.1% for 2025. Additionally, both EBIT and EBITDA margins are solid at 11.5% and 14.0%, respectively, indicating efficient operational management. The consistent increase in net income over the years reflects the company's strong market position and operational efficiency.

Balance Sheet

The balance sheet for Fuji Nihon Seito Corporation reveals a stable financial structure with a low debt-to-equity ratio of 0.20, indicating prudent leverage usage. The equity ratio stands at 70.6%, highlighting a strong capital base. Return on equity (ROE) is healthy at 11.9%, reflecting effective use of shareholder funds. However, the company's total liabilities have grown, which could pose potential risks if not managed carefully.

Cash Flow

The cash flow statement shows strong operational cash generation, with a significant increase in free cash flow to ¥3,015 million in 2025. The operating cash flow to net income ratio is 1.17, suggesting that net income is well-supported by cash flows. The free cash flow to net income ratio is also strong at 1.06. The company exhibits robust cash flow management, though the cash flow from investing activities remains negative, mainly due to capital expenditures, which could impact future liquidity if not balanced by operational cash inflows.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	28.57B	28.21B	25.89B	22.68B	20.10B	18.99B
Gross Profit	7.57B	7.60B	6.28B	5.28B	4.84B	5.13B
EBITDA	3.52B	3.95B	3.31B	2.27B	2.14B	1.89B
Net Income	2.74B	2.85B	2.37B	1.67B	1.61B	1.20B
Balance Sheet
Total Assets	34.05B	33.76B	32.42B	28.26B	24.75B	23.48B
Cash, Cash Equivalents and Short-Term Investments	6.06B	6.64B	5.27B	4.88B	3.80B	3.97B
Total Debt	4.67B	4.82B	3.10B	2.23B	1.57B	1.61B
Total Liabilities	9.72B	9.89B	8.57B	6.74B	5.03B	5.23B
Stockholders Equity	24.28B	23.83B	23.83B	21.45B	19.76B	18.37B
Cash Flow
Free Cash Flow	0.00	3.02B	621.73M	305.24M	292.81M	1.61B
Operating Cash Flow	0.00	3.32B	942.53M	579.56M	555.07M	1.84B
Investing Cash Flow	0.00	-1.49B	-517.20M	-169.59M	-476.15M	-478.72M
Financing Cash Flow	0.00	-436.55M	-69.94M	633.64M	-275.28M	-345.03M

Fuji Nihon Seito Corporation Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 617.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:2114, the sentiment is Positive. The current price of 617 is below the 20-day moving average (MA) of 660.00, below the 50-day MA of 633.19, and above the 200-day MA of 564.52, indicating a bullish trend. The MACD of 10.94 indicates Positive momentum. The RSI at 68.57 is Neutral, neither overbought nor oversold. The STOCH value of 38.89 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:2114.

Fuji Nihon Seito Corporation Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
2112	80 Outperform	¥16.04B	6.28	―	1.91%	2.73%	59.02%
2208	72 Outperform	¥80.48B	15.26	―	1.55%	5.78%	14.23%
2114	71 Outperform	¥34.62B	11.25	―	2.84%	6.64%	10.48%
2109	68 Neutral	¥110.99B	23.27	―	3.97%	3.69%	-27.70%
2108	65 Neutral	¥54.64B	-32.55	―	2.12%	3.82%	-131.02%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
2211	49 Neutral	¥65.00B	32.01	―	1.14%	8.17%	10.65%

Fuji Nihon Seito Corporation Corporate Events

Fuji Nihon Lifts Profits and Strengthens Balance Sheet on Modest Sales Growth

Fuji Nihon Corporation reported steady growth for the nine months ended December 31, 2025, with net sales up 1.7% year-on-year to ¥21.5 billion and operating profit rising 15.6% to ¥2.96 billion, while profit attributable to owners of parent climbed 9.5% to ¥2.63 billion, lifting basic earnings per share to ¥51.24 after adjusting for a January 2026 two-for-one share split. The company’s financial position strengthened, with total assets increasing to ¥37.6 billion and the equity ratio improving to 72.0%, and it maintained its dividend policy—factoring in the share split—while revising its full-year forecast to project modest top-line growth, higher operating profit and a 5.4% rise in full-year profit, underscoring stable profitability and continued shareholder returns despite only slight gains in sales.

The most recent analyst rating on (JP:2114) stock is a Hold with a Yen690.00 price target. To see the full list of analyst forecasts on Fuji Nihon Seito Corporation stock, see the JP:2114 Stock Forecast page.