Meiji Holdings Co Ltd (JP:2269)
:2269
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Meiji Holdings Co
(2269)
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Rating:62Neutral
Price Target:
¥4,082.00
▲(34.59% Upside)
Action:DowngradedDate:02/18/26
The score is held back primarily by weak cash-flow quality (negative free cash flow and low cash conversion) and only moderate profitability despite good revenue growth and a conservative balance sheet. Technicals are supportive with strong trend/momentum, while valuation appears reasonable-to-full with a moderate dividend yield.
Positive Factors
Diversified business model
Meiji’s dual-segment structure—branded consumer food (dairy, nutrition, confectionery) plus prescription pharmaceuticals and vaccines—creates durable revenue diversification. This reduces exposure to a single end-market, enabling cross-segment capital allocation and smoothing cyclical swings over months.
Negative Factors
Negative free cash flow
A substantial negative free cash flow (~-30.8B) is a durable concern for capital allocation. Persistent FCF deficits constrain internal funding for R&D, capex, or dividends and may force reliance on external financing or asset sales, reducing long-term strategic flexibility.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified business model
Meiji’s dual-segment structure—branded consumer food (dairy, nutrition, confectionery) plus prescription pharmaceuticals and vaccines—creates durable revenue diversification. This reduces exposure to a single end-market, enabling cross-segment capital allocation and smoothing cyclical swings over months.
Read all positive factors
Meiji Holdings Co (2269) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥1.07T
Dividend Yield2.96%
Average Volume (3M)2.77M
Price to Earnings (P/E)13.6
Beta (1Y)0.08
Revenue Growth2.79%
EPS Growth-6.46%
CountryJP
Employees17,270
SectorConsumer Defensive
Sector Strength42
IndustryPackaged Foods
Share Statistics
EPS (TTM)63.97
Shares Outstanding282,200,000
10 Day Avg. Volume1,647,740
30 Day Avg. Volume2,774,413
Financial Highlights & Ratios
PEG Ratio7.15
Price to Book (P/B)1.19
Price to Sales (P/S)0.77
P/FCF Ratio71.81
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)232.54
Revenue Forecast (FY)¥1.20T
Meiji Holdings Co Business Overview & Revenue Model
Company Description
Meiji Holdings Co., Ltd., through its subsidiaries, manufactures and sells dairy products, confectioneries, nutritional products, and pharmaceuticals in Japan and internationally. The company operates through two segments, Food and Pharmaceutical....
How the Company Makes Money
Meiji Holdings generates revenue primarily through the sale of its food and pharmaceutical products. The Food Division is a key revenue driver, offering various dairy products such as milk, yogurt, and cheese, alongside confectionery items like ch...
Meiji Holdings Co Earnings Call Summary
Earnings Call Date:Nov 11, 2024
(Q2-2025)
| % Change Since: |
Next Earnings Date:May 07, 2026
Earnings Call Sentiment Neutral
The earnings call presented a mixed picture with strong performances in the Pharmaceutical segment and growth in certain brands, but faced challenges in the Food segment, particularly in China and the U.S. The decline in profits and the revised vaccine outlook were notable concerns.Positive Updates
Increase in Consolidated Net Sales
Consolidated net sales for the first half of fiscal 2024 was JPY 569.0 billion, a year-on-year increase of 4.2%.
Negative Updates
Decline in Profit Attributable to Owners
Profit attributable to owners of parent was JPY 26.8 billion, a year-on-year decline of 3.8% due to decreased extraordinary gains.
Read all updates
Q2-2025 Updates
Positive
Negative
Increase in Consolidated Net Sales
Consolidated net sales for the first half of fiscal 2024 was JPY 569.0 billion, a year-on-year increase of 4.2%.
Read all positive updates
Company Guidance
In the earnings call for Q2 2025, Meiji Holdings provided comprehensive guidance on its financial performance and future outlook. For the first half of fiscal 2024, the company reported consolidated net sales of JPY 569.0 billion, marking a 4.2% increase year-on-year. However, operating profit remained steady at JPY 44.3 billion, while profit attributable to owners of the parent decreased by 3.8% to JPY 26.8 billion due to lower extraordinary gains. The Food segment experienced a 2.2% increase in net sales to JPY 455.4 billion, although operating profit declined by 6.9% year-on-year, affected by increased raw material costs and challenges in overseas operations. Meanwhile, the Pharmaceutical segment saw a significant boost, with net sales rising by 12.9% to JPY 113.8 billion and operating profit increasing by 16.7% to JPY 18.5 billion, aided by strong sales of antibacterial injections and influenza vaccines. For the second half, Meiji plans to achieve a year-on-year increase in consolidated net sales to JPY 589.9 billion and an operating profit of JPY 41.6 billion, focusing on price adjustments and strategic marketing to counter cost pressures.Meiji Holdings Co Financial Statement Overview
Summary
Income Statement
64
Positive
Balance Sheet
78
Positive
Cash Flow
38
Negative
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.16T | 1.15T | 1.11T | 1.06T | 1.01T | 1.19T |
| Gross Profit | 350.80B | 339.10B | 327.35B | 306.80B | 323.25B | 449.63B |
| EBITDA | 134.97B | 137.84B | 143.20B | 149.46B | 179.07B | 152.23B |
| Net Income | 45.99B | 50.80B | 50.67B | 69.42B | 87.50B | 65.66B |
Balance Sheet | ||||||
| Total Assets | 1.31T | 1.18T | 1.21T | 1.14T | 1.12T | 1.07T |
| Cash, Cash Equivalents and Short-Term Investments | 78.88B | 78.19B | 106.86B | 63.52B | 67.41B | 40.33B |
| Total Debt | 142.12B | 52.13B | 54.77B | 69.18B | 82.46B | 103.18B |
| Total Liabilities | 496.38B | 392.69B | 417.49B | 384.90B | 404.44B | 407.64B |
| Stockholders Equity | 763.64B | 748.29B | 746.53B | 711.92B | 673.34B | 621.43B |
Cash Flow | ||||||
| Free Cash Flow | -35.78B | 12.36B | 54.54B | 16.20B | 39.21B | 60.65B |
| Operating Cash Flow | 49.32B | 68.98B | 107.98B | 85.01B | 127.53B | 123.68B |
| Investing Cash Flow | -94.39B | -40.64B | -24.60B | -36.79B | -27.61B | -93.11B |
| Financing Cash Flow | 20.87B | -61.67B | -43.77B | -54.73B | -77.00B | -28.29B |
Meiji Holdings Co Technical Analysis
Positive
3033.00
Price Trends
3843.21
Positive
3602.47
Positive
3306.95
Positive
Market Momentum
37.74
Positive
50.12
Neutral
56.98
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:2269, the sentiment is Positive. The current price of 3033 is below the 20-day moving average (MA) of 3925.60, below the 50-day MA of 3843.21, and below the 200-day MA of 3306.95, indicating a neutral trend. The MACD of 37.74 indicates Positive momentum. The RSI at 50.12 is Neutral, neither overbought nor oversold. The STOCH value of 56.98 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:2269.
Meiji Holdings Co 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% | |
61 Neutral | ¥4.52T | 20.92 | 9.46% | 1.32% | 1.99% | -18.79% | |
59 Neutral | ¥427.56B | 10.37 | ― | 2.42% | 2.33% | -8.76% |
* Consumer Defensive Sector Average
JP:2269
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Meiji Holdings Co Corporate Events
Meiji Holdings Corrects Supplementary Vaccine Sales Data Without Changing Core Financials
Feb 12, 2026
Meiji Holdings Co., Ltd. has announced partial amendments to the supplementary explanatory data accompanying its consolidated financial results for the fiscal year ended March 31, 2025, and for the first and second quarters of the fiscal year endi...
Meiji Holdings Lifts Profits, Maintains Outlook and Expands Asian Footprint
Feb 12, 2026
Meiji Holdings reported consolidated net sales of ¥882.3 billion for the first nine months of the fiscal year ending March 31, 2026, a modest 0.8% increase year on year, while operating profit rose 5.4% and ordinary profit climbed 11.3%. Prof...
Meiji Holdings Reports Limited Financial Impact from Voluntary Retirement Program at Meiji Co.
Jan 15, 2026
Meiji Holdings announced the results of a voluntary Next Career Special Support Program implemented by its core subsidiary Meiji Co., Ltd. for long-serving employees aged 50 and above, offering special additional retirement allowances and reemploy...
Meiji Holdings Enhances Shareholder Benefit Program
Dec 5, 2025
Meiji Holdings Co., Ltd. has announced an enhancement to its Shareholder Benefit Program, aiming to deepen shareholder engagement and appreciation. The amendment introduces a Long-term Holding Appreciation BOX for shareholders holding shares for m...
Meiji Holdings Enhances Pharmaceutical Operations with Strategic Asset Transfer
Nov 20, 2025
Meiji Holdings Co., Ltd. announced a strategic move to transfer the common stock of its subsidiary, KM Biologics Co., Ltd., to Meiji Seika Pharma Co., Ltd. through an absorption-type company split. This decision is part of the company’s stru...
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.