Kikkoman Corporation (JP:2801)
:2801
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Kikkoman
(2801)
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Rating:71Outperform
Price Target:
¥1,585.00
▲(6.88% Upside)
Action:ReiteratedDate:04/26/26
The score is driven primarily by strong financial performance—especially the low-leverage balance sheet and steady growth—partly offset by weaker and mixed near-term technicals and only moderate valuation support (P/E ~18.6, ~1.74% yield).
Positive Factors
Conservative balance sheet
Very low leverage and a growing capital base give Kikkoman durable financial flexibility to fund organic growth, withstand commodity or demand shocks, and pursue selective M&A or capex without stressing credit profiles. This supports long-term resilience and strategic optionality.
Negative Factors
Uneven free cash flow
Volatile FCF reduces financial flexibility: when cash conversion lags earnings, funding dividends, capex or strategic moves may require drawing reserves or increasing leverage. Persistent variability suggests working-capital pressure or heavier reinvestment needs that constrain options.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Very low leverage and a growing capital base give Kikkoman durable financial flexibility to fund organic growth, withstand commodity or demand shocks, and pursue selective M&A or capex without stressing credit profiles. This supports long-term resilience and strategic optionality.
Read all positive factors
Kikkoman (2801) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥1.39T
Dividend Yield1.46%
Average Volume (3M)2.89M
Price to Earnings (P/E)21.7
Beta (1Y)0.67
Revenue Growth5.16%
EPS Growth1.57%
CountryJP
Employees7,521
SectorConsumer Defensive
Sector Strength42
IndustryPackaged Foods
Share Statistics
EPS (TTM)13.54
Shares Outstanding969,416,000
10 Day Avg. Volume3,127,410
30 Day Avg. Volume2,894,526
Financial Highlights & Ratios
PEG Ratio14.13
Price to Book (P/B)2.39
Price to Sales (P/S)1.80
P/FCF Ratio39.27
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥1,525.00Price Target Upside2.83% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)69.01
Revenue Forecast (FY)¥796.08B
Kikkoman Business Overview & Revenue Model
Company Description
Kikkoman Corporation, through its subsidiaries, manufactures and sells food products in Japan, North America, and internationally. The company offers soy sauces, soy sauce soup bases, dipping and marinade sauces, handy seasoning mixes, and Del Mon...
How the Company Makes Money
Kikkoman makes money primarily by manufacturing and selling branded food products, with soy sauce as its flagship category. Revenue is generated through (1) sales of soy sauce and related seasonings (e.g., sauces, soup bases, and other flavoring p...
Kikkoman Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
90
Very Positive
Cash Flow
74
Positive
| Breakdown | Mar 2026 | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 745.54B | 708.98B | 660.84B | 618.90B | 516.44B |
| Gross Profit | 252.61B | 227.80B | 219.01B | 195.64B | 171.02B |
| EBITDA | 106.26B | 104.19B | 97.42B | 81.02B | 72.30B |
| Net Income | 61.62B | 61.70B | 56.44B | 43.73B | 38.90B |
Balance Sheet | |||||
| Total Assets | 751.66B | 679.41B | 667.88B | 566.38B | 503.06B |
| Cash, Cash Equivalents and Short-Term Investments | 111.77B | 106.18B | 119.16B | 99.35B | 79.23B |
| Total Debt | 61.43B | 59.01B | 59.91B | 50.98B | 43.46B |
| Total Liabilities | 182.82B | 163.36B | 169.62B | 149.41B | 139.15B |
| Stockholders Equity | 560.92B | 508.54B | 491.36B | 410.51B | 357.82B |
Cash Flow | |||||
| Free Cash Flow | 34.12B | 35.71B | 51.10B | 33.60B | 33.40B |
| Operating Cash Flow | 90.51B | 75.20B | 80.81B | 59.20B | 52.09B |
| Investing Cash Flow | -43.24B | -39.67B | -42.99B | -26.62B | -16.11B |
| Financing Cash Flow | -53.09B | -46.09B | -31.42B | -20.38B | -17.90B |
Kikkoman Technical Analysis
Positive
1483.00
Price Trends
1439.31
Positive
1421.30
Positive
1351.18
Positive
Market Momentum
24.81
Positive
53.07
Neutral
12.55
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:2801, the sentiment is Positive. The current price of 1483 is above the 20-day moving average (MA) of 1472.94, above the 50-day MA of 1439.31, and above the 200-day MA of 1351.18, indicating a bullish trend. The MACD of 24.81 indicates Positive momentum. The RSI at 53.07 is Neutral, neither overbought nor oversold. The STOCH value of 12.55 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:2801.
Kikkoman Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | ¥118.26B | 6.86 | ― | 1.08% | 1.67% | -6.47% | |
71 Outperform | ¥1.39T | 21.75 | 11.19% | 1.46% | 5.16% | 1.57% | |
71 Outperform | ¥576.87B | 28.74 | 9.28% | 1.30% | 5.86% | -17.47% | |
68 Neutral | ¥292.75B | 10.81 | 4.15% | 1.66% | 1.52% | -7.79% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
61 Neutral | ¥4.57T | 20.92 | 9.46% | 1.32% | 1.38% | -12.32% | |
61 Neutral | ¥221.75B | 30.94 | ― | 2.11% | -3.91% | -13.01% |
* Consumer Defensive Sector Average
JP:2801
Kikkoman
1,434.00
9.66
0.68%
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Kikkoman Corporate Events
Kikkoman Keeps Annual Dividend Steady at 25 Yen Per Share
Apr 24, 2026
Kikkoman’s board has approved a year-end dividend of 15 yen per share for the fiscal year ended March 31, 2026, with retained earnings as the funding source and an effective payment date set for June 24, 2026, pending final approval at the J...
Kikkoman Revamps Board and Executive Lineup to Bolster Governance
Apr 24, 2026
Kikkoman Corporation has announced a series of leadership changes, including the appointment of Ryohei Tsuji as Director and Executive Corporate Officer and the addition of experienced external professionals, such as former Deloitte Tohmatsu Group...
Kikkoman Launches ¥30 Billion Share Buyback to Boost Shareholder Returns
Apr 24, 2026
Kikkoman Corporation has authorized a share buyback of up to 24 million common shares, representing a maximum of 2.59% of its outstanding stock, with a total acquisition cap of 30 billion yen. The purchases will be conducted through market transac...
Kikkoman Posts Higher Revenue but Flat Profit as Comprehensive Income Surges
Apr 24, 2026
Kikkoman reported consolidated revenue of ¥745.5 billion for the year ended March 31, 2026, a 5.2% increase, with business profit up 2.9% to ¥79.5 billion and operating profit up 3.0% to ¥75.9 billion. Profit attributable to owners ...
Kikkoman Posts Higher Revenue but Softer Profits for 3Q FY2026 Nine-Month Period
Feb 5, 2026
For the nine months ended December 31, 2025, Kikkoman reported consolidated revenue of ¥552.8 billion, up 3.2% year on year, while business profit was essentially flat at ¥63.0 billion and operating profit declined 2.8% to ¥60.8 bil...
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.