Kameda Seika Co., Ltd. (2220) AI Stock Analysis

• Market Cap: ¥91.61B
• Dividend Yield: 1.47%
• Average Volume (3M): 53.38K
• Price to Earnings (P/E): 3.4
• Beta (1Y): 0.21
• Revenue Growth: 20.44%
• EPS Growth: 1199.18%
• Country: JP
• Employees: 4,040
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Packaged Foods
• EPS (TTM): 124.48
• Shares Outstanding: 22,318,650
• 10 Day Avg. Volume: 46,020
• 30 Day Avg. Volume: 53,380
• PEG Ratio: 0.11
• Price to Book (P/B): 1.09
• Price to Sales (P/S): 0.80
• P/FCF Ratio: 53.36
• 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: 74 Outperform
• Price Target: ¥4,682.00 ▲(20.05% Upside)
• Action: Reiterated Date: 10/01/25
• Date: Action: Reiterated 10/01/25

Kameda Seika Co., Ltd. demonstrates strong financial performance with robust revenue growth and profitability. The valuation is attractive with a low P/E ratio, suggesting potential undervaluation. Technical analysis indicates neutral momentum, with no significant bullish or bearish signals. The absence of earnings call data and corporate events does not impact the score.

Positive Factors

Revenue Growth

Consistent revenue growth indicates expanding market reach and product adoption, strengthening the company's position in the snack food industry.

Strategic Acquisition

The acquisition of TH FOODS, INC. enhances Kameda Seika's operational control and market influence, potentially boosting long-term financial performance.

Profitability Improvement

Improved profitability through increased net profit margin reflects effective cost management and operational efficiency, supporting sustainable growth.

Negative Factors

Free Cash Flow Concerns

Decreased free cash flow due to high capital expenditures may limit financial flexibility and impact the company's ability to invest in growth opportunities.

Net Income Growth Adjustment

The adjustment in net income growth expectations may impact stakeholder confidence and suggests potential challenges in maintaining previous growth forecasts.

Ordinary Income Decline

A significant decline in ordinary income could indicate underlying operational challenges, potentially affecting long-term profitability and stability.

Kameda Seika Co., Ltd. Business Overview & Revenue Model

Company Description

Kameda Seika Co.,Ltd. manufactures and sells rice crackers and snacks in Japan. It offers food, preservation food, low-protein rice, easy-to-eat rice porridge, rice based food, and food supplement products; and operates Kakitane Kitchen, a specialty shop for souvenir and gift products, as well as produces, processes and sells agricultural products. The company also imports and exports food products. In addition, it provides freight transportation services; and warehousing services, as well as engages in selling and repairing automobiles. The company offers its products under the KAMEDA no Kaki no Tane, Happy Turn, Usuyaki, KAMEDA no Magari Senbei, Potapota Yaki, Soft Salad, Teshioya, Waza no Kodawari, Katabutsu, HaiHain, Arare Toyosu, Edo Sen Sharaku, and Nikko Mochi Honpo brands. It sells its products through supermarkets; convenience, department, and drug stores; and discount and 100-yen shops. Kameda Seika Co.,Ltd. was founded in 1946 and is headquartered in Niigata, Japan.

How the Company Makes Money

Kameda Seika Co., Ltd. generates revenue through the sale of its wide range of snack products, primarily focusing on rice crackers. The company employs a multi-channel distribution strategy, selling its products through supermarkets, convenience stores, and online platforms, which contributes to its broad market reach. Key revenue streams include both domestic sales in Japan and exports to international markets, where the company has established a growing presence. Additionally, Kameda Seika engages in promotional partnerships and collaborations with other brands, enhancing its visibility and sales. The company's commitment to quality and innovation, along with effective marketing strategies, further supports its financial performance.

Kameda Seika Co., Ltd. Financial Statement Overview

Summary

Kameda Seika Co., Ltd. exhibits solid financial health with robust revenue growth and improved profitability. The balance sheet is strong, characterized by moderate leverage and high equity. While operating cash flow generation is strong, the focus should be on maximizing free cash flow efficiency.

Income Statement

Kameda Seika Co., Ltd. shows strong revenue growth with an increase from ¥95.53 billion in 2024 to ¥103.26 billion in 2025, a growth rate of 8.1%. The gross profit margin improved slightly to 27.2%, reflecting efficient cost management. Net profit margin increased to 5.2%, indicating improved profitability. The EBIT and EBITDA margins are stable, showing consistent operational efficiency.

Balance Sheet

The company's balance sheet is robust with a strong equity base, as indicated by an equity ratio of 61%. The debt-to-equity ratio is manageable at 0.33, suggesting moderate leverage. Return on Equity (ROE) increased to 7.2%, demonstrating effective use of equity to generate profit. The company maintains a healthy liquidity position with a good cash and short-term investments balance.

Cash Flow

Operating cash flow remains strong at ¥9.44 billion, although free cash flow decreased to ¥1.54 billion due to higher capital expenditures. The operating cash flow to net income ratio of 1.74 indicates strong cash generation capability relative to net income. The company needs to focus on improving free cash flow to net income conversion.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	113.07B	103.26B	95.53B	94.99B	85.16B	103.31B
Gross Profit	31.05B	28.07B	25.77B	24.53B	23.88B	44.63B
EBITDA	34.99B	12.57B	11.38B	9.09B	11.39B	11.10B
Net Income	26.21B	5.42B	2.26B	1.89B	4.42B	4.76B
Balance Sheet
Total Assets	167.05B	123.86B	120.51B	111.18B	102.95B	92.89B
Cash, Cash Equivalents and Short-Term Investments	16.93B	10.10B	9.22B	8.28B	6.87B	6.51B
Total Debt	46.03B	24.72B	23.78B	23.52B	19.12B	15.67B
Total Liabilities	71.52B	44.95B	46.79B	43.19B	37.23B	32.99B
Stockholders Equity	92.58B	75.59B	69.94B	64.86B	63.42B	58.22B
Cash Flow
Free Cash Flow	0.00	1.54B	1.96B	534.00M	-236.00M	2.58B
Operating Cash Flow	0.00	9.44B	9.73B	8.29B	8.30B	8.67B
Investing Cash Flow	0.00	-7.83B	-8.14B	-8.44B	-9.84B	-6.34B
Financing Cash Flow	0.00	-1.22B	-1.25B	972.00M	1.20B	-257.00M

Kameda Seika Co., Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 3900.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:2220, the sentiment is Positive. The current price of 3900 is below the 20-day moving average (MA) of 4157.75, below the 50-day MA of 3980.20, and below the 200-day MA of 3990.30, indicating a bullish trend. The MACD of 115.33 indicates Negative momentum. The RSI at 69.04 is Neutral, neither overbought nor oversold. The STOCH value of 80.51 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:2220.

Kameda Seika Co., Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
2220	74 Outperform	¥91.61B	3.42	―	1.47%	20.44%	1199.18%
2229	66 Neutral	¥398.86B	23.84	8.27%	1.95%	5.82%	-13.40%
2206	65 Neutral	¥393.51B	76.68	2.66%	1.64%	8.40%	-23.50%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
2269	62 Neutral	¥1.11T	23.73	5.97%	2.96%	2.79%	-6.46%
2226	61 Neutral	¥49.93B	21.24	―	1.19%	3.71%	-4.44%
2264	59 Neutral	¥440.06B	31.87	―	2.42%	2.33%	-8.76%

Kameda Seika Co., Ltd. Corporate Events

Kameda Seika Revamps Board With New Independent Director and Auditor

Kameda Seika Co., Ltd. has announced planned changes to its governance structure, including the appointment of veteran management consultant and academic Kazunari Uchida as a new outside director, pending shareholder approval at the 69th Ordinary General Shareholders’ Meeting in June 2026. Uchida, who has extensive board experience at major Japanese corporations and a long tenure at Boston Consulting Group and Waseda University, will replace retiring outside director Minesaburo Miyake, reinforcing the company’s external oversight and strategic expertise.

The company will also refresh its Audit & Supervisory Board by nominating Yoshiko Fujii as a new outside member, succeeding retiring outside member Kazuyoshi Aoki, with the change likewise scheduled for approval at the June 2026 meeting. Fujii brings executive experience from ORIX, Nidec and other firms, and both she and Uchida are expected to be designated as independent officers under Tokyo Stock Exchange rules, signaling Kameda Seika’s continued emphasis on governance, independence and board diversity for investors and other stakeholders.

The most recent analyst rating on (JP:2220) stock is a Hold with a Yen4304.00 price target. To see the full list of analyst forecasts on Kameda Seika Co., Ltd. stock, see the JP:2220 Stock Forecast page.

Kameda Seika Redefines Executive Roles to Drive 2030 Growth Strategy

Kameda Seika has restructured the roles of its top executives as part of efforts to execute its Medium-Term Business Plan announced in November 2025 and to advance its 2030 growth strategy. The company aims to respond more effectively to a rapidly changing management environment and to strengthen governance, transparency, and decision-making speed.

Under the changes, Chairman and CEO Lekh Raj Juneja becomes Chairman and will focus on presiding over the board, governance oversight, and external engagement, including R&D strategy. President and COO Masanori Takagi becomes President and assumes responsibility for overall business execution across strategy, operations, and group policy.

Senior Managing Director and CFO Akira Kobayashi transitions to Senior Managing Director, overseeing finance, accounting, capital, and corporate management, with a focus on financial strategy and capital policy. Managing Director Naoko Koizumi retains her role and will continue to lead sustainability, concentrating on sustainability strategy across the group.

As part of the redefinition, Kameda Seika will abolish its chief officer system to clarify executive responsibilities and align management structure with its long-term strategic goals. The overhaul is designed to bolster the company’s ability to implement its growth plans and enhance corporate value for stakeholders.

The most recent analyst rating on (JP:2220) stock is a Hold with a Yen4304.00 price target. To see the full list of analyst forecasts on Kameda Seika Co., Ltd. stock, see the JP:2220 Stock Forecast page.

Kameda Seika Announces 3-for-1 Stock Split and Shareholder Benefit Changes

Kameda Seika will implement a 3-for-1 stock split of its common shares, effective April 1, 2026, to lower the minimum investment amount and make its stock more accessible to a wider range of investors. The split will increase issued shares from 22,318,650 to 66,955,950 and expand authorized shares to 177,753,000, with no change to share capital or the year-end dividend calculation for the fiscal year ending March 31, 2026.

In line with the split, the company will amend its Articles of Incorporation to reflect the higher authorized share count and will revise its shareholder benefit program, which grants Kameda Seika Group products based on holdings as of September 30 each year. These measures are aimed at broadening the shareholder base and deepening shareholder engagement, potentially enhancing liquidity and reinforcing the company’s market presence.

The most recent analyst rating on (JP:2220) stock is a Hold with a Yen4304.00 price target. To see the full list of analyst forecasts on Kameda Seika Co., Ltd. stock, see the JP:2220 Stock Forecast page.

Kameda Seika Lifts Dividend Forecast as Part of Progressive Payout Strategy

Kameda Seika has revised its dividend forecast for the fiscal year ending March 31, 2026, as part of its medium- to long-term strategy to deliver progressive dividends and strengthen shareholder returns. The board approved raising the year-end dividend from ¥43 to ¥51 per share, lifting the full-year dividend forecast from ¥58 to ¥66 per share in line with a payout ratio target of 35%.

The move reflects confidence in earnings expansion under its current medium-term business plan and its November 2025 growth strategy update, which emphasizes stable profit returns alongside continued investment in Japan and overseas. For investors, the higher dividend signals management’s commitment to capital efficiency and shareholder-friendly policies, supported by robust profitability excluding one-off gains related to its step acquisition of TH FOODS, INC.

The most recent analyst rating on (JP:2220) stock is a Hold with a Yen4304.00 price target. To see the full list of analyst forecasts on Kameda Seika Co., Ltd. stock, see the JP:2220 Stock Forecast page.

Kameda Seika Delivers Surge in Nine-Month Profit and Confirms Full-Year Outlook

Kameda Seika reported strong results for the nine months ended 31 December 2025, with consolidated net sales up 34.9% year on year to ¥104.3 billion and operating income up 43.6% to ¥6.2 billion. Net income attributable to owners of the parent surged more than six-fold to ¥24.9 billion, boosting earnings per share to ¥1,181.40 and lifting total assets and shareholders’ equity compared with the previous fiscal year-end. The company kept its dividend forecast for the year to March 2026 unchanged, targeting an annual payout of ¥58 per share, and maintained its full-year guidance calling for ¥137.5 billion in net sales and ¥24.2 billion in net income. Kameda also disclosed changes in its consolidation scope, adding TH FOODS, INC. and Watch City Properties, LLC while deconsolidating Mary’s Gone Crackers, Inc., signalling continued portfolio reshaping within its global snack business.

The most recent analyst rating on (JP:2220) stock is a Hold with a Yen4304.00 price target. To see the full list of analyst forecasts on Kameda Seika Co., Ltd. stock, see the JP:2220 Stock Forecast page.