Takizawa Ham Co., Ltd. (2293) AI Stock Analysis

• Market Cap: ¥6.13B
• Dividend Yield: N/A
• Average Volume (3M): 1.03K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.23
• Revenue Growth: -3.27%
• EPS Growth: -108.33%
• Country: JP
• Employees: 321
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Packaged Foods
• EPS (TTM): 143.20
• Shares Outstanding: 2,102,000
• 10 Day Avg. Volume: 1,860
• 30 Day Avg. Volume: 1,026
• PEG Ratio: 0.02
• Price to Book (P/B): 1.69
• Price to Sales (P/S): 0.21
• P/FCF Ratio: -21.93
• 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: 47 Neutral
• Price Target: ¥2,938.00 ▲(5.38% Upside)
• Action: Reiterated Date: 11/01/25
• Date: Action: Reiterated 11/01/25

The overall stock score reflects significant financial challenges, including declining revenues and negative profitability, which are the most impactful factors. Technical analysis shows a neutral trend with some bearish signals, while valuation concerns are highlighted by a negative P/E ratio. The absence of earnings call data and corporate events limits additional insights.

Positive Factors

Staple packaged-food product portfolio

Takizawa Ham's core products are processed meats (ham, sausages) sold in the domestic packaged-food market. These are staple grocery items with persistent consumer demand, providing a resilient revenue base and lasting relevance in retail assortments over months to years.

Diversified retail and commercial distribution

The company distributes via both retail and other commercial channels, which reduces single-channel concentration risk. Durable multi-channel access supports steadier order flow, shelf presence and the ability to reallocate volumes as market conditions shift over the medium term.

Moderate equity ratio provides some balance-sheet cushion

Although leverage is elevated, a moderate equity ratio implies a tangible shareholder capital buffer. That cushion can help absorb near-term shocks, support creditor confidence and provide limited financial flexibility while management pursues operational recovery.

Negative Factors

Declining revenue trend

The company shows a persistent top-line decline (negative revenue growth). Shrinking revenue undermines economies of scale, reduces negotiating power with suppliers and retailers, and limits resources available for product development or marketing, worsening competitive position.

Negative profitability and margins

Sustained negative net profit, EBIT and EBITDA margins indicate the core business is loss-making. Persistent unprofitability erodes retained earnings, constrains reinvestment, and forces either structural cost cuts or pricing changes to restore margin sustainability over the medium term.

Weak cash generation and negative free cash flow

Negative free cash flow and a weak operating cash flow to net income ratio point to limited internal funding capacity. Ongoing cash deficits increase reliance on external financing, raise refinancing risk, and can constrain necessary capex or working-capital investments over coming quarters.

Takizawa Ham Co., Ltd. Business Overview & Revenue Model

Company Description

Takizawa Ham Co., Ltd. manufactures and sells processed meat products in Japan. The company offers roast beef, hamburger, meat side dishes, and ham and sausages. It is involved in the fattening and processing of beef and pork, as well as develops and operates meat shops. In addition, the company manufactures and sells retort and prepared foods. The company was formerly known as Takizawa Takashi Shoten Co., Ltd. and changed its name to Takizawa Ham Co., Ltd. in 1966. Takizawa Ham Co., Ltd. was founded in 1918 and is based in Tochigi, Japan.

How the Company Makes Money

Takizawa Ham Co., Ltd. generates revenue through multiple streams primarily focused on the sale of its processed meat products. The company earns money by selling a wide range of items, including hams, sausages, and other meat products, to wholesalers, retailers, and directly to consumers. Key revenue streams include both domestic sales within Japan and exports to international markets. The company also benefits from strategic partnerships with major grocery chains and food service companies, which enhance its distribution capabilities and market reach. Additionally, Takizawa Ham invests in marketing and branding efforts to promote its products, which helps to attract a loyal customer base and drive sales growth.

Takizawa Ham Co., Ltd. Financial Statement Overview

Summary

Takizawa Ham Co., Ltd. faces a challenging financial landscape with declining revenues, negative profitability margins, and high leverage. The company must address operational inefficiencies and improve its cash flow generation to stabilize its financial position. While there are significant risks related to its current financial trajectory, strategic management interventions could potentially reverse these trends and improve overall financial health.

Income Statement

The company has faced declining revenue over recent years with a negative revenue growth rate, indicating potential challenges in market demand or competitiveness. Gross profit margin has decreased, and net profit margin is negative, reflecting operational inefficiencies or pricing pressures. The negative EBIT and EBITDA margins further highlight profitability challenges. Overall, the income statement reveals a weak position with significant room for improvement.

Balance Sheet

The debt-to-equity ratio is relatively high, suggesting significant leverage and potential financial risk if earnings do not improve. Despite this, the equity ratio remains moderate, indicating a reasonable proportion of assets financed by equity. Return on equity is negative, pointing to poor returns on shareholders’ investments. The balance sheet shows moderate stability, but high leverage could pose risks if earnings continue to decline.

Cash Flow

Free cash flow has been negative, indicating challenges in generating cash from operations after capital expenditures. The operating cash flow to net income ratio is low, highlighting inefficient cash generation relative to earnings. The cash flow statement suggests liquidity issues and potential constraints in funding operations or debt obligations, necessitating strategic efforts to enhance cash generation.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	27.79B	28.09B	28.21B	29.46B	29.48B	30.40B
Gross Profit	3.59B	3.74B	4.32B	3.98B	4.29B	5.09B
EBITDA	119.26M	225.63M	817.83M	645.78M	1.05B	853.97M
Net Income	-601.89M	-495.22M	123.81M	-191.04M	174.79M	55.08M
Balance Sheet
Total Assets	12.87B	12.47B	13.60B	12.77B	13.48B	13.53B
Cash, Cash Equivalents and Short-Term Investments	1.82B	1.41B	1.99B	1.93B	2.36B	1.96B
Total Debt	5.60B	4.96B	4.92B	5.18B	5.64B	5.71B
Total Liabilities	9.37B	8.99B	9.59B	9.12B	9.65B	9.82B
Stockholders Equity	3.50B	3.48B	4.01B	3.66B	3.84B	3.71B
Cash Flow
Free Cash Flow	0.00	-267.69M	532.33M	153.71M	743.27M	374.29M
Operating Cash Flow	0.00	3.15M	796.74M	281.88M	962.66M	615.70M
Investing Cash Flow	0.00	-496.94M	-254.96M	12.18M	-138.03M	-234.92M
Financing Cash Flow	0.00	-190.49M	-477.89M	-729.86M	-421.78M	-257.17M

Takizawa Ham Co., Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 2788.00
• 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:2293, the sentiment is Positive. The current price of 2788 is below the 20-day moving average (MA) of 2948.40, below the 50-day MA of 2883.28, and above the 200-day MA of 2662.18, indicating a bullish trend. The MACD of 30.51 indicates Positive momentum. The RSI at 62.58 is Neutral, neither overbought nor oversold. The STOCH value of 65.76 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:2293.

Takizawa Ham Co., Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
2288	67 Neutral	¥60.52B	12.24	6.48%	2.27%	1.46%	―
2296	64 Neutral	¥341.93B	21.77	―	2.61%	6.54%	15.08%
2282	63 Neutral	¥703.40B	22.54	6.04%	2.04%	5.55%	27.03%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
2904	59 Neutral	¥13.86B	34.48	―	1.61%	0.48%	-34.95%
2293	47 Neutral	¥6.13B	-35.43	―	―	-3.27%	-108.33%
2291	37 Underperform	¥2.09B	-4.68	―	―	-2.97%	-6.82%