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Coca-Cola Bottlers Japan Holdings
(2579)
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Rating:49Neutral
Price Target:
¥3,809.00
▼(-13.71% Downside)
Action:Reiterated
Date:08/01/26
The score is held back primarily by weak recent operating performance (TTM revenue decline and negative margins) and a relatively expensive valuation (P/E ~32.9) for an earnings-volatile profile. A solid balance sheet with manageable leverage and generally positive cash generation provides support, but near-term technicals are also soft with the stock below key short-term moving averages.
Positive Factors
Strong gross margin
A ~44–45% gross margin indicates durable brand and route economics across production, vending and retail channels. High product-level margins provide structural insulation against input cost swings and support long-term profitability if fixed costs and SG&A are controlled.
Negative Factors
TTM revenue decline
A 16.8% TTM revenue decline suggests persistent softness in demand or adverse price/mix that erodes operating leverage. Sustained top-line weakness hampers fixed-cost absorption and makes it harder to restore operating margins absent structural market or product fixes.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong gross margin
A ~44–45% gross margin indicates durable brand and route economics across production, vending and retail channels. High product-level margins provide structural insulation against input cost swings and support long-term profitability if fixed costs and SG&A are controlled.
Read all positive factors
Coca-Cola Bottlers Japan Holdings (2579) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥621.96B
Dividend Yield1.75%
Average Volume (3M)519.69K
Price to Earnings (P/E)32.9
Beta (1Y)0.47
Revenue Growth-0.01%
EPS GrowthN/A
CountryJP
Employees12,667
SectorConsumer Defensive
Sector Strength42
IndustryBeverages - Non-Alcoholic
Share Statistics
EPS (TTM)116.39
Shares Outstanding171,268,600
10 Day Avg. Volume508,000
30 Day Avg. Volume519,690
Financial Highlights & Ratios
PEG Ratio0.01
Price to Book (P/B)1.43
Price to Sales (P/S)0.61
P/FCF Ratio17.32
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)143.66
Revenue Forecast (FY)¥916.19B
Coca-Cola Bottlers Japan Holdings Business Overview & Revenue Model
Company Description
Coca-Cola Bottlers Japan Holdings Inc., along with its affiliated companies, operates across Japan in the full spectrum of beverage activities, including procurement, bottling, packaging, distribution, marketing, and sales. Their diverse product r...
How the Company Makes Money
The company primarily makes money by selling finished beverages in Japan under The Coca-Cola Company’s brand portfolio. Revenue is generated from (1) sales of beverages to retail and wholesale customers (e.g., supermarkets, convenience stores, dru...
Coca-Cola Bottlers Japan Holdings Earnings Call Summary
Earnings Call Date:Feb 13, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Nov 05, 2026
Earnings Call Sentiment Positive
The call conveyed a broadly positive message: management reported strong operational and profitability improvements (record adjusted business income, significant business income and EBITDA increases, transformation benefits, market share gains, and expanded shareholder returns) and set ambitious 2026 targets. However, material one‑time impairment (JPY 88.4 billion), gross profit decline and ongoing volume and cost headwinds (commodity/FX, channel mix, promotional and outsourcing costs) represent notable challenges. On balance, the highlights — including recurring profitability progress, transformation gains, clear price/mix levers and strengthened shareholder returns — outweigh the lowlights, though risks remain tied to volume trends and external cost pressures.Positive Updates
Record and Strong Profitability Improvement
Business income reached JPY 24.5 billion in FY2025 — more than double the prior year (i.e., >100% YoY) — with cumulative 3-year business income growth of JPY 39 billion. Adjusted business income (excluding cumulative impacts since 2017) exceeded JPY 50 billion, a new record high.
Negative Updates
Large One‑time Impairment Impacting Reported Profits
An impairment loss of JPY 88.4 billion in the Vending business (recorded in Q2 2025) caused operating income and net income to decline year‑on‑year despite higher business income.
Read all updates
Q4-2025 Updates
Positive
Negative
Record and Strong Profitability Improvement
Business income reached JPY 24.5 billion in FY2025 — more than double the prior year (i.e., >100% YoY) — with cumulative 3-year business income growth of JPY 39 billion. Adjusted business income (excluding cumulative impacts since 2017) exceeded JPY 50 billion, a new record high.
Read all positive updates
Company Guidance
Management guided 2026 to revenue of JPY 902.7 billion (+1% YoY) with sales volume down ~1.5%, gross profit +4.3%, business income targeted at JPY 35.0 billion (aiming for a >JPY10 billion increase for the 4th consecutive year), EBITDA JPY 70.1 billion (+JPY 5.9 billion), and a ROIC target of ≥4% (up from 3% in 2025, +1.8pp). They reiterated Vision 2030 goals of business income >JPY 80 billion and ROIC >10% and set a 2027 business income target of JPY 45–50 billion; 2025 actuals were business income JPY 24.5 billion (more than doubled YoY), EBITDA JPY 64.2 billion (+JPY 6.7 billion YoY), cumulative 3‑year business income growth JPY 39 billion and adjusted business income since 2017 >JPY 50 billion. Transformation benefits reached JPY 6.9 billion in 2025 and are expected to deliver JPY 6.0 billion of annual savings in 2026; other modeled P&L drivers include pricing +JPY 18.8 billion, volume -JPY 6.0 billion, other mix -JPY 4.0 billion, promotional spend +JPY 0.9 billion, manufacturing savings -JPY 2.2 billion, other costs +JPY 3.2–3.5 billion, and a commodity/FX headwind of ~JPY 1.3–1.4 billion. Shareholder returns will be expanded with a JPY 72 annual dividend per share (+20% YoY) and completion of a JPY 30 billion buyback by October 2026 (with a contemplated ≥JPY 30 billion buyback level for 2027); notable one‑offs include an JPY 88.4 billion vending impairment in 2025 and vending segment profit improvement of JPY 6.1 billion.Coca-Cola Bottlers Japan Holdings Financial Statement Overview
Summary
Income Statement
38
Negative
Balance Sheet
66
Positive
Cash Flow
60
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 899.05B | 893.80B | 892.68B | 868.58B | 807.43B | 785.84B |
| Gross Profit | 405.53B | 399.30B | 402.45B | 384.22B | 351.75B | 350.50B |
| EBITDA | 62.99B | -32.29B | 59.19B | 50.44B | 34.54B | 36.57B |
| Net Income | 19.91B | -50.76B | 7.31B | 1.87B | -8.07B | -2.50B |
Balance Sheet | ||||||
| Total Assets | 722.13B | 698.49B | 804.15B | 844.83B | 826.74B | 867.11B |
| Cash, Cash Equivalents and Short-Term Investments | 83.23B | 76.33B | 88.48B | 113.66B | 84.07B | 110.50B |
| Total Debt | 173.56B | 133.86B | 142.66B | 181.40B | 179.97B | 214.12B |
| Total Liabilities | 356.47B | 318.29B | 337.71B | 374.81B | 350.37B | 374.66B |
| Stockholders Equity | 365.35B | 379.89B | 466.20B | 469.85B | 476.22B | 492.32B |
Cash Flow | ||||||
| Free Cash Flow | 28.72B | 31.33B | 20.73B | 27.48B | 10.04B | -3.28B |
| Operating Cash Flow | 60.91B | 61.12B | 48.88B | 59.10B | 42.72B | 35.98B |
| Investing Cash Flow | -17.98B | -25.74B | -16.13B | -14.29B | -23.09B | 15.27B |
| Financing Cash Flow | -4.87B | -47.51B | -57.94B | -15.23B | -46.05B | -67.13B |
Coca-Cola Bottlers Japan Holdings Technical Analysis
Neutral
4414.00
Price Trends
4025.63
Negative
3763.77
Positive
3459.00
Positive
Market Momentum
-49.87
Positive
46.58
Neutral
16.88
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:2579, the sentiment is Neutral. The current price of 4414 is above the 20-day moving average (MA) of 4162.65, above the 50-day MA of 4025.63, and above the 200-day MA of 3459.00, indicating a neutral trend. The MACD of -49.87 indicates Positive momentum. The RSI at 46.58 is Neutral, neither overbought nor oversold. The STOCH value of 16.88 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for JP:2579.
Coca-Cola Bottlers Japan Holdings Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | ¥810.82B | 17.80 | 7.71% | 2.67% | -0.67% | 10.63% | |
64 Neutral | ¥784.17B | 34.32 | 10.95% | 6.41% | -7.37% | 317.40% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
59 Neutral | ¥53.29B | 32.26 | ― | 0.60% | 4.70% | 10.83% | |
49 Neutral | ¥621.96B | 32.89 | -11.96% | 1.52% | -0.01% | ― | |
49 Neutral | ¥306.35B | 98.36 | 1.95% | 1.60% | ― | ― | |
47 Neutral | ¥96.95B | -3.48 | ― | 1.00% | 2.75% | -1152.56% |
* Consumer Defensive Sector Average
JP:2579
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Coca-Cola Bottlers Japan Holdings Corporate Events
Coca-Cola Bottlers Japan Posts Q2 2026 Earnings Presentation Online
Jul 30, 2026
Coca-Cola Bottlers Japan Holdings released a brief notice that it has posted its second quarter 2026 earnings presentation on its corporate website. The materials, led by President and CEO Calin Dragan and Vice President and CFO Bjorn Ivar Ulgenes...
Coca-Cola Bottlers Japan Swings Back to Profit and Boosts Shareholder Returns
Jul 30, 2026
Coca-Cola Bottlers Japan Holdings reported first-half 2026 revenue of ¥423.2 billion, up 1.3% year on year, with business income surging to ¥8.1 billion and a return to net profit of ¥4.8 billion after a large loss in the prior-year...
Coca-Cola Bottlers Japan to Dispose Treasury Shares for Executive Stock Compensation Trust
Jul 30, 2026
Coca-Cola Bottlers Japan Holdings Inc. has approved the disposal of 1,614,300 treasury shares via a third-party allotment to The Master Trust Bank of Japan for use in its Executive Reward BIP Trust, at a disposal value of 4,591 yen per share, tota...
Coca-Cola Bottlers Japan Launches ¥40 Billion Share Buyback to Boost Shareholder Value
Jul 30, 2026
Coca-Cola Bottlers Japan Holdings has approved a share repurchase program, authorizing the buyback of up to 14 million common shares, equivalent to 8.6% of outstanding stock excluding treasury shares. The program, capped at 40 billion yen and exec...
Coca-Cola Bottlers Japan Boosts Shareholder Returns With Ongoing Share Buybacks
Jul 2, 2026
Coca-Cola Bottlers Japan Holdings has continued executing a previously approved share repurchase program, buying back 598,600 common shares for about 2.22 billion yen via market purchases on the Tokyo Stock Exchange between June 1 and June 30, 202...
Coca-Cola Bottlers Japan Advances Share Buyback, Reaches ¥17.3 Billion in Treasury Stock
Jun 2, 2026
Coca-Cola Bottlers Japan Holdings has continued its share buyback program, repurchasing 828,600 common shares for about 2.83 billion yen via market purchases on the Tokyo Stock Exchange between May 1 and May 31, 2026. This activity is part of a br...
Coca-Cola Bottlers Japan Steps Up Share Buybacks Under Ongoing Program
May 7, 2026
Coca-Cola Bottlers Japan Holdings has repurchased 814,800 of its common shares on the Tokyo Stock Exchange between April 1 and April 30, 2026, for a total of approximately ¥2.83 billion, under a previously approved share buyback program. This...
Coca-Cola Bottlers Japan Expects Change in Major Shareholders After CCEC Share Sale
May 1, 2026
Coca-Cola Bottlers Japan Holdings has announced an expected change in its major shareholders, following a decision by The Coca-Cola Export Corporation, a wholly owned subsidiary of The Coca-Cola Company, to sell back 4,605,300 shares it holds in t...
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.