Fujicco Co (2908) AI Stock Analysis

• Market Cap: ¥49.28B
• Dividend Yield: 2.92%
• Average Volume (3M): 42.53K
• Price to Earnings (P/E): 34.4
• Beta (1Y): 0.20
• Revenue Growth: 0.82%
• EPS Growth: 46.96%
• Country: JP
• Employees: 1,127
• Sector: Consumer Goods
• Sector Strength: N/A
• Industry: Packaged Foods
• EPS (TTM): 21.83
• Shares Outstanding: 30,050,758
• 10 Day Avg. Volume: 53,440
• 30 Day Avg. Volume: 42,530
• PEG Ratio: -3.34
• Price to Book (P/B): 0.66
• Price to Sales (P/S): 0.80
• P/FCF Ratio: 33.32
• 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: 56 Neutral
• Price Target: ¥1,630.00 ▲(0.49% Upside)
• Action: Reiterated Date: 12/30/25
• Date: Action: Reiterated 12/30/25

The score is primarily driven by solid financial safety (debt-free balance sheet) offset by weaker profitability and uneven free cash flow. Technical indicators are largely neutral with a slightly negative MACD, while valuation is pressured by a high P/E despite a reasonable dividend yield.

Positive Factors

Strategic Expansion

The acquisition of FB Food Service expands Fujicco's footprint in Southeast Asia, potentially strengthening its earnings base and market reach.

Profit Growth

Strong profit growth despite sales decline indicates improved operational efficiency and profitability, enhancing long-term financial health.

Debt-Free Balance Sheet

A debt-free balance sheet reduces financial risk and increases flexibility, supporting resilience in challenging market conditions.

Negative Factors

Margin Compression

Significant margin compression indicates reduced pricing power and cost pressures, impacting long-term profitability and competitiveness.

Volatile Free Cash Flow

Volatile free cash flow suggests challenges in cash generation, potentially limiting investment capacity and financial stability.

Weaker Profitability

Declining ROE reflects reduced efficiency in using equity capital, potentially affecting investor confidence and long-term growth prospects.

Fujicco Co Business Overview & Revenue Model

Company Description

Fujicco Co., Ltd. is a Japanese company primarily engaged in the production and sale of food products. The company operates in the food manufacturing sector, offering a diverse range of products including processed foods, health foods, and other related items. Fujicco is known for its traditional Japanese food products such as tsukudani (seasoned seaweed), cooked beans, and konbu (kelp) products, catering to both domestic and international markets.

How the Company Makes Money

Fujicco Co., Ltd. generates revenue through the sale of its diverse range of food products. The company's primary revenue streams include its processed food segment, which encompasses products like seasoned seaweed, cooked beans, and kelp-based items. Fujicco also capitalizes on the growing demand for health-conscious products by offering healthy and functional foods. Sales are made through various distribution channels, including direct sales to retailers and wholesale distributors, both domestically in Japan and internationally. Additionally, the company may engage in strategic partnerships and collaborations to enhance its market presence and product offerings, further contributing to its revenue.

Fujicco Co Financial Statement Overview

Summary

Strong balance-sheet safety (zero debt and stable equity) supports resilience, but operating performance has weakened: multi-year margin compression and lower ROE, plus volatile free cash flow and only moderate cash conversion versus earnings.

Income Statement

Revenue is essentially flat over the period (¥66.2B in 2020 to ¥57.1B in 2025), with the latest annual growth shown as strong but inconsistent versus prior years. Profitability has compressed materially: gross margin declined from ~40% (2020–2021) to ~29% (2024–2025), and net margin fell from ~4.7–5.3% to ~1.7% in 2025. EBIT and net income are still positive, but the multi-year downshift in margins and earnings reduces earnings quality and resilience.

Balance Sheet

The balance sheet is conservatively positioned with zero total debt across all periods, which materially lowers financial risk and increases flexibility. Equity remains large and stable (~¥68–71B) versus total assets (~¥79–85B). The trade-off is weaker profitability on that capital base, with return on equity stepping down from ~4.5–4.8% (2020–2021) to ~1.4% in 2025, indicating reduced efficiency despite strong balance-sheet strength.

Cash Flow

Operating cash flow is positive and improved in 2025 (¥4.5B), but cash conversion versus earnings is only moderate (operating cash flow to net income ~0.51 in 2025, below 1.0). Free cash flow has been volatile, including negative free cash flow in 2021 and a sharp decline in 2025 (¥1.37B, down meaningfully year over year). Free cash flow relative to net income is modest in 2025 (~0.30), suggesting limited surplus cash generation after investment needs.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	56.98B	57.08B	55.72B	53.91B	55.07B	64.20B
Gross Profit	16.52B	16.49B	16.44B	15.73B	18.14B	26.31B
EBITDA	5.16B	4.74B	5.01B	5.73B	6.85B	7.90B
Net Income	1.13B	951.00M	1.11B	1.41B	2.12B	3.40B
Balance Sheet
Total Assets	78.77B	79.43B	80.48B	78.86B	80.14B	85.21B
Cash, Cash Equivalents and Short-Term Investments	10.84B	11.69B	11.34B	13.28B	12.78B	13.87B
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00
Total Liabilities	10.31B	10.83B	11.45B	10.35B	10.50B	14.30B
Stockholders Equity	68.46B	68.60B	69.02B	68.51B	69.63B	70.90B
Cash Flow
Free Cash Flow	694.00M	1.37B	398.00M	1.64B	99.00M	-180.00M
Operating Cash Flow	1.46B	4.49B	2.80B	3.33B	5.10B	6.11B
Investing Cash Flow	-841.50M	-2.82B	-3.42B	-168.00M	-3.33B	-5.60B
Financing Cash Flow	-328.00M	-1.31B	-1.31B	-2.67B	-2.87B	-1.23B

Fujicco Co Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1622.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:2908, the sentiment is Positive. The current price of 1622 is above the 20-day moving average (MA) of 1621.80, above the 50-day MA of 1606.12, and above the 200-day MA of 1598.50, indicating a bullish trend. The MACD of 8.73 indicates Negative momentum. The RSI at 56.51 is Neutral, neither overbought nor oversold. The STOCH value of 74.90 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:2908.

Fujicco Co Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
2801	72 Outperform	¥1.45T	23.64	11.19%	1.46%	2.65%	-5.76%
2809	71 Outperform	¥622.46B	20.30	9.28%	1.30%	5.50%	27.32%
2819	68 Neutral	¥25.61B	15.65	―	1.87%	3.08%	-16.77%
2804	66 Neutral	¥24.61B	10.14	―	2.05%	0.99%	830.67%
2802	61 Neutral	$4.83T	62.42	9.46%	1.32%	1.99%	-18.79%
Sector *	57 Neutral	$3.13B	9.23	-34.32%	3.14%	-25.56%	-353.61%
2908	56 Neutral	¥49.28B	34.44	1.89%	2.92%	0.82%	46.96%

Fujicco Co Corporate Events

Fujicco Makes Thai Food Manufacturer a Consolidated Subsidiary via New Holding Company

Fujicco Co., Ltd. has completed the acquisition of shares in Thailand-based FB Food Service (2017) Co., Ltd. (FBF), a manufacturer and wholesaler of business-use food products, making it a subsidiary via a newly established intermediate holding company, Fujicco Foods Asia Co., Ltd. (FFA). Fujicco directly acquired 30% of FBF’s voting rights on November 3, 2025, and FFA, established on December 8, 2025, acquired an additional 51% from SBCS Group on December 24, 2025, bringing FBF into Fujicco’s consolidated group. The total estimated acquisition costs amount to about 542 million yen for FBF and 35 million yen for FFA at the parent level, while FFA’s purchase of the majority FBF stake totals about 802 million yen, underscoring Fujicco’s strategic push into Southeast Asia’s food-service market. The deemed acquisition date for both FBF and FFA in Fujicco’s consolidated accounts is expected to be December 31, 2025, meaning only their balance sheets will be reflected in the fiscal year ending March 31, 2026, with full income statement consolidation beginning in the fiscal year ending March 31, 2027, which could gradually strengthen Fujicco’s overseas earnings base and regional footprint.

Fujicco Co. Announces Correction in Share Acquisition Details

Fujicco Co., Ltd. announced a correction to its previous notice regarding the acquisition of shares in FB Food Service (2017) Co., Ltd. and the establishment of a subsidiary in Thailand. The correction involves the number of voting rights associated with the shares to be acquired, which was inaccurately described in the initial release. This correction ensures accurate representation of Fujicco’s stake in the company, maintaining transparency and clarity for stakeholders.

Fujicco Co., Ltd. Reports Strong Profit Growth Despite Slight Sales Decline

Fujicco Co., Ltd. reported its consolidated financial results for the six months ended September 30, 2025, showing a slight decline in net sales by 1.1% compared to the previous year. However, the company experienced significant growth in operating profit, ordinary profit, and profit attributable to owners of the parent, with increases of 96.4%, 58.6%, and 101.8% respectively. This performance indicates a strong recovery and improved profitability, which could positively impact stakeholders and enhance the company’s industry positioning.

Fujicco Co. Revises Earnings Forecasts Amid Strategic Changes

Fujicco Co., Ltd. has revised its earnings forecasts for the fiscal year ending March 31, 2026, due to the transfer of its subsidiary, Foods Palette Co., Ltd., and the resulting extraordinary income and tax changes. Despite a decrease in net sales for certain products, the company expects to maintain its earnings as planned by promoting value-added sales and implementing cost control measures, aligning with its Medium-term Management Plan aimed at steady growth.