Morinaga Milk Industry Co., Ltd. (JP:2264)
:2264
Top Page
Morinaga Milk Industry Co., Ltd.
(2264)
Select Model
Select Model
Rating:59Neutral
Price Target:
¥5,184.00
▲(39.21% Upside)
Action:ReiteratedDate:03/01/26
The score is held back primarily by weak profitability and negative cash flow despite stable revenue and a strong, low-leverage balance sheet. Technicals show strong upside momentum but are very overbought, increasing short-term risk. Valuation is also a headwind given the elevated P/E and only moderate dividend yield.
Positive Factors
Conservative Leverage / Strong Equity Base
A low debt-to-equity ratio (0.39) and a ~51% equity ratio provide durable financial flexibility. This conservative capital structure supports investment, weathering commodity or demand shocks, and reduces refinancing risk, underpinning long-term stability and strategic optionality.
Negative Factors
Weak net profitability and falling ROE
A sub-1% net margin and a ~2% ROE signal limited retained earnings generation and poor shareholder returns. Persistently thin net profits constrain reinvestment, dividend capacity, and make the business more vulnerable to cost inflation or input-price swings over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative Leverage / Strong Equity Base
A low debt-to-equity ratio (0.39) and a ~51% equity ratio provide durable financial flexibility. This conservative capital structure supports investment, weathering commodity or demand shocks, and reduces refinancing risk, underpinning long-term stability and strategic optionality.
Read all positive factors
Morinaga Milk Industry Co., Ltd. (2264) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥427.56B
Dividend Yield2.42%
Average Volume (3M)247.79K
Price to Earnings (P/E)10.4
Beta (1Y)0.35
Revenue Growth2.33%
EPS Growth-8.76%
CountryJP
Employees7,415
SectorConsumer Defensive
Sector Strength42
IndustryPackaged Foods
Share Statistics
EPS (TTM)89.81
Shares Outstanding86,179,790
10 Day Avg. Volume265,070
30 Day Avg. Volume247,786
Financial Highlights & Ratios
PEG Ratio-0.53
Price to Book (P/B)0.99
Price to Sales (P/S)0.47
P/FCF Ratio-5.89
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥5,400.00Price Target Upside45.01% Upside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)316.92
Revenue Forecast (FY)¥590.09B
Morinaga Milk Industry Co., Ltd. Business Overview & Revenue Model
Company Description
Morinaga Milk Industry Co., Ltd., together with its subsidiaries, produces and sells various dairy products in Japan and internationally. The company offers milk, yogurt, cheese, and butter products, as well as chilled desserts, ice creams, infant...
How the Company Makes Money
Morinaga Milk Industry generates revenue primarily through the sale of its dairy products, including liquid milk, yogurt, and cheese. The company leverages a diversified product portfolio to reach various consumer segments, contributing to a stead...
Morinaga Milk Industry Co., Ltd. Financial Statement Overview
Summary
Income Statement
65
Positive
Balance Sheet
70
Positive
Cash Flow
55
Neutral
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 564.21B | 561.17B | 547.06B | 525.60B | 503.35B | 583.55B |
| Gross Profit | 135.81B | 135.05B | 131.96B | 118.30B | 122.28B | 190.07B |
| EBITDA | 40.66B | 41.40B | 113.46B | 45.85B | 70.30B | 47.09B |
| Net Income | 7.06B | 5.46B | 61.31B | 16.88B | 33.78B | 18.74B |
Balance Sheet | ||||||
| Total Assets | 547.97B | 520.42B | 566.00B | 487.44B | 458.79B | 453.65B |
| Cash, Cash Equivalents and Short-Term Investments | 43.57B | 28.56B | 64.53B | 21.10B | 23.61B | 19.26B |
| Total Debt | 123.92B | 104.73B | 86.82B | 101.33B | 89.26B | 104.01B |
| Total Liabilities | 279.73B | 249.32B | 283.86B | 259.19B | 250.76B | 251.14B |
| Stockholders Equity | 263.57B | 266.33B | 277.18B | 223.03B | 206.07B | 199.56B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -44.68B | 23.44B | -205.00M | 21.39B | 10.36B |
| Operating Cash Flow | 0.00 | -12.46B | 56.58B | 19.38B | 40.27B | 38.54B |
| Investing Cash Flow | 0.00 | -18.79B | 25.22B | -25.46B | 8.37B | -25.30B |
| Financing Cash Flow | 0.00 | -5.03B | -38.62B | 2.92B | -44.52B | -2.63B |
Morinaga Milk Industry Co., Ltd. Technical Analysis
Positive
3724.00
Price Trends
4581.62
Positive
4154.96
Positive
3726.16
Positive
Market Momentum
117.30
Negative
62.15
Neutral
76.09
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:2264, the sentiment is Positive. The current price of 3724 is below the 20-day moving average (MA) of 4817.84, below the 50-day MA of 4581.62, and below the 200-day MA of 3726.16, indicating a bullish trend. The MACD of 117.30 indicates Negative momentum. The RSI at 62.15 is Neutral, neither overbought nor oversold. The STOCH value of 76.09 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:2264.
Morinaga Milk Industry Co., Ltd. Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | ¥539.34B | 28.74 | 9.28% | 1.30% | 5.50% | 27.32% | |
68 Neutral | ¥200.39B | 4.56 | ― | 2.47% | 0.32% | -20.60% | |
65 Neutral | ¥381.25B | 68.53 | 1.86% | 1.64% | 8.40% | -23.50% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
62 Neutral | ¥1.07T | 13.62 | 5.97% | 2.96% | 2.79% | -6.46% | |
59 Neutral | ¥427.56B | 10.37 | ― | 2.42% | 2.33% | -8.76% | |
57 Neutral | ¥311.78B | 10.01 | ― | 1.45% | 20.02% | ― |
* Consumer Defensive Sector Average
JP:2264
Morinaga Milk Industry Co., Ltd.
4,981.00
1,884.57
60.86%
JP:2269
Meiji Holdings Co
3,903.00
592.52
17.90%
JP:2809
Kewpie Corporation
3,880.00
839.48
27.61%
JP:2206
Ezaki Glico Co., Ltd.
5,877.00
1,228.72
26.43%
JP:2270
MEGMILK SNOW BRAND Co., Ltd.
3,290.00
811.84
32.76%
JP:2607
Fuji Oil Holdings, Inc.
3,627.00
580.90
19.07%
Morinaga Milk Industry Co., Ltd. Corporate Events
Morinaga Milk Announces Leadership Change as Executive Vice President to Step Down
Feb 12, 2026
Morinaga Milk Industry has announced a leadership change, with Representative Director and Executive Vice President Teiichiro Okawa set to resign from his role and transition to an advisor position. The change will take effect at the conclusion of...
Morinaga Milk Hits Record Quarterly Profit, Keeps Full-Year Outlook Unchanged
Feb 12, 2026
Morinaga Milk Industry reported third-quarter net sales of ¥437.8 billion, up 1.6% year on year, and operating profit of ¥30.7 billion, a ¥5.2 billion increase that marked record highs for both the quarter and the nine-month period....
Morinaga Milk Lifts Margins as Nine-Month Profit Nearly Doubles Pace of Sales
Feb 12, 2026
Morinaga Milk Industry reported steady top-line growth for the first nine months of the fiscal year ending March 31, 2026, with net sales rising 1.6% year-on-year to ¥437.8 billion and gross profit up 6.6%, supported by improved cost ratios a...
Morinaga Milk Lifts Profits Sharply and Hikes Dividend Outlook for FY2026
Feb 12, 2026
Morinaga Milk reported consolidated net sales of ¥437.8 billion for the nine months to December 31, 2025, up 1.6% year on year, with operating profit jumping 20.4% and profit attributable to owners of parent surging 48.8% as earnings per shar...
Morinaga Milk Reports Progress on Share Buyback Program
Feb 2, 2026
Morinaga Milk Industry has disclosed the latest status of its ongoing share buyback program, reporting the acquisition of 160,400 common shares for a total of 621.69 million yen during the period from January 1 to January 31, 2026. This purchase f...
Morinaga Milk Reports Progress on Ongoing Share Buyback Program
Jan 5, 2026
Morinaga Milk Industry Co., Ltd. has disclosed the latest status of its share buyback program, reporting the purchase of 159,600 common shares for a total of 590.19 million yen on a trade-date basis between December 1 and December 31, 2025. This t...
Morinaga Milk Industry Announces Treasury Stock Acquisition
Dec 1, 2025
Morinaga Milk Industry Co., Ltd. has announced the acquisition of its own shares, acquiring 176,800 common shares at a total cost of 635,457,100 yen between November 1 and November 30, 2025. This move is part of a broader strategy approved by the ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.