KENKO Mayonnaise Co., Ltd. (2915) AI Stock Analysis

• Market Cap: ¥30.34B
• Dividend Yield: 2.25%
• Average Volume (3M): 28.21K
• Price to Earnings (P/E): 11.4
• Beta (1Y): 0.63
• Revenue Growth: -0.25%
• EPS Growth: -41.09%
• Country: JP
• Employees: 1,031
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Packaged Foods
• EPS (TTM): 45.91
• Shares Outstanding: 16,476,000
• 10 Day Avg. Volume: 38,780
• 30 Day Avg. Volume: 28,210
• PEG Ratio: 0.28
• Price to Book (P/B): 0.74
• Price to Sales (P/S): 0.32
• P/FCF Ratio: 7.23
• 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): 29,164.07
• Revenue Forecast (FY): ¥14.60T

• Rating: 72 Outperform
• Price Target: ¥2,082.00 ▲(12.00% Upside)

KENKO Mayonnaise's strong financial performance is the primary driver of its stock score, supported by reasonable valuation metrics. However, technical indicators suggest caution due to short-term bearish momentum.

Positive Factors

Revenue Growth

Consistent revenue growth indicates effective market strategies and product demand, supporting long-term business expansion and stability.

Cash Flow Generation

Strong cash flow generation enhances financial flexibility, allowing for reinvestment in growth opportunities and cushioning against economic downturns.

Profitability Margins

Improved profitability margins demonstrate efficient cost management and pricing power, contributing to sustainable financial health.

Negative Factors

Asset Management

Suboptimal asset management could hinder operational efficiency, potentially impacting profitability and growth if not addressed.

EBITDA Margin

A lower-than-expected EBITDA margin suggests potential inefficiencies in operations, which could affect long-term profitability if not improved.

Total Assets Decline

A declining asset base may indicate underinvestment or asset divestiture, which could limit future growth and operational capacity.

KENKO Mayonnaise Co., Ltd. Business Overview & Revenue Model

Company Description

KENKO Mayonnaise Co., Ltd. (2915) is a leading Japanese food manufacturer specializing in the production of mayonnaise and other condiment products. Established in the early 20th century, the company has built a strong reputation for quality and innovation in the food sector. KENKO offers a diverse range of products, including various types of mayonnaise, dressings, and sauces, catering to both retail and food service markets. The company is committed to using high-quality ingredients and maintaining stringent food safety standards.

How the Company Makes Money

KENKO Mayonnaise Co., Ltd. generates revenue primarily through the sale of its mayonnaise and condiment products. The company operates a multi-channel distribution model, supplying its products to grocery retailers, food service operators, and export markets. Key revenue streams include direct sales to supermarkets and convenience stores, as well as partnerships with restaurants and catering companies that utilize KENKO's products in their menus. Additionally, KENKO invests in marketing and promotional campaigns to enhance brand recognition and drive consumer demand. The company may also explore collaborations with food manufacturers to create co-branded products, further diversifying its earnings.

KENKO Mayonnaise Co., Ltd. Financial Statement Overview

Summary

KENKO Mayonnaise demonstrates strong revenue and profit growth, stable financial leverage, and robust cash flow generation. However, there is room for improvement in asset management and operational efficiencies.

Income Statement

KENKO Mayonnaise has demonstrated strong revenue growth over the years, with a notable increase from 2022 to 2025. The Gross Profit Margin remains solid, indicating efficient cost management. Net Profit Margin and EBIT Margin have also improved significantly, reflecting enhanced profitability. However, the EBITDA Margin is slightly lower than expected, showing room for operational improvements.

Balance Sheet

The company's financial leverage is manageable, with a low Debt-to-Equity Ratio, indicating prudent use of debt. The Return on Equity has improved, showcasing effective use of equity capital. The Equity Ratio is stable, suggesting a strong financial foundation. However, the decrease in Total Assets over the recent year could be a concern if it continues.

Cash Flow

KENKO Mayonnaise exhibits a healthy Operating Cash Flow to Net Income Ratio, indicating strong cash generation relative to earnings. The Free Cash Flow to Net Income Ratio supports stable cash reserves. Despite a decline in Free Cash Flow Growth Rate in the latest year, cash flow management remains robust.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	91.38B	91.70B	88.72B	82.36B	75.65B	68.50B
Gross Profit	19.83B	20.54B	18.02B	14.63B	15.80B	15.86B
EBITDA	6.54B	7.58B	6.51B	3.48B	4.62B	5.18B
Net Income	2.84B	3.50B	2.73B	485.00M	1.21B	1.46B
Balance Sheet
Total Assets	63.08B	64.08B	67.37B	62.23B	61.76B	62.32B
Cash, Cash Equivalents and Short-Term Investments	14.69B	15.73B	15.73B	12.29B	12.44B	12.38B
Total Debt	3.69B	3.81B	4.32B	5.46B	6.92B	8.64B
Total Liabilities	23.00B	24.11B	28.39B	25.44B	25.22B	26.74B
Stockholders Equity	40.08B	39.96B	38.98B	36.79B	36.54B	35.58B
Cash Flow
Free Cash Flow	0.00	4.07B	5.04B	2.22B	3.36B	4.50B
Operating Cash Flow	0.00	4.59B	5.96B	3.53B	3.76B	5.20B
Investing Cash Flow	0.00	-1.06B	-239.00M	-856.00M	-419.00M	-588.00M
Financing Cash Flow	0.00	-3.53B	-2.28B	-2.82B	-3.28B	-2.98B

KENKO Mayonnaise Co., Ltd. Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 1859.00
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:2915, the sentiment is Neutral. The current price of 1859 is below the 20-day moving average (MA) of 1910.00, below the 50-day MA of 1893.58, and above the 200-day MA of 1857.98, indicating a neutral trend. The MACD of -16.15 indicates Positive momentum. The RSI at 43.47 is Neutral, neither overbought nor oversold. The STOCH value of 17.25 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for JP:2915.

KENKO Mayonnaise Co., Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
2612	77 Outperform	¥35.93B	13.58	―	2.56%	8.21%	20.27%
2915	72 Outperform	¥30.34B	11.42	―	2.25%	-0.25%	-41.09%
2804	66 Neutral	¥23.81B	9.61	―	2.06%	0.99%	830.67%
2811	66 Neutral	¥232.86B	19.79	―	2.11%	3.69%	-50.13%
2820	66 Neutral	¥32.78B	19.98	―	1.53%	10.89%	25.32%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
2819	62 Neutral	¥23.47B	17.76	―	1.87%	3.08%	-16.77%

KENKO Mayonnaise Co., Ltd. Corporate Events

KENKO Mayonnaise Completes Share Buyback to Boost Capital Efficiency

KENKO Mayonnaise Co., Ltd. has completed the acquisition of 543,000 of its own shares through the Tokyo Stock Exchange’s off-auction share repurchase trading system, ToSTNeT-3. This move, which aligns with a recent board resolution, is aimed at enhancing shareholder returns, improving capital efficiency, and enabling more agile capital policies.

KENKO Mayonnaise Revises Financial Forecasts Amid Rising Costs

KENKO Mayonnaise Co., Ltd. has revised its consolidated financial forecasts for the fiscal year ending March 31, 2026, due to rising raw material costs and other economic challenges. The company anticipates a decrease in net sales and profits compared to previous forecasts, largely driven by increased egg prices and reduced sales opportunities. Despite these challenges, the company remains committed to its long-term management plan and maintains its dividend forecast.

KENKO Mayonnaise Reports Decline in Semi-Annual Profits, Revises Forecasts

KENKO Mayonnaise Co., Ltd. reported a decline in its financial performance for the six months ending September 30, 2025, with net sales slightly decreasing by 1.1% and significant drops in operating and ordinary profits by 39.1% and 38.7%, respectively. This downturn reflects challenges in the company’s operational efficiency and market conditions, prompting a revision in their financial forecasts for the fiscal year ending March 31, 2026, with expectations of modest growth in net sales but continued pressure on profitability.

KENKO Mayonnaise Announces Strategic Share Repurchase

KENKO Mayonnaise Co., Ltd. has announced a resolution to repurchase its own shares, aiming to enhance shareholder returns and improve capital efficiency. The repurchase will be conducted through the Tokyo Stock Exchange Trading Network, with a maximum acquisition of 543,000 shares at a total cost of ¥1,140,000,000, reflecting the company’s commitment to agile capital policies.