KENKO Mayonnaise Co., Ltd. (JP:2915)
:2915
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KENKO Mayonnaise Co., Ltd.
(2915)
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Rating:65Neutral
Price Target:
¥2,181.00
▲(15.58% Upside)
Action:Downgraded
Date:05/12/26
The score is supported primarily by solid financial fundamentals (notably low leverage and recovered profitability) and reasonable valuation (low P/E with a ~3.3% dividend). It is held back by weak cash flow consistency in 2026 and clearly negative technical momentum with the stock trading below key short-term moving averages.
Positive Factors
Conservative balance sheet / low leverage
Very low debt-to-equity (~0.08) provides durable financial flexibility, lowering default risk and enabling the company to absorb input-cost shocks or invest in plant, R&D, or distribution. This structural strength supports operational continuity and strategic optionality over months.
Negative Factors
Weakened cash flow conversion
A sharp decline in operating cash flow and much lower free cash flow relative to net income undermine confidence in cash durability. Persistent cash conversion weakness can limit the company's ability to fund dividends, capex, or working capital, constraining strategic moves over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet / low leverage
Very low debt-to-equity (~0.08) provides durable financial flexibility, lowering default risk and enabling the company to absorb input-cost shocks or invest in plant, R&D, or distribution. This structural strength supports operational continuity and strategic optionality over months.
Read all positive factors
KENKO Mayonnaise Co., Ltd. (2915) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥31.80B
Dividend Yield2.23%
Average Volume (3M)28.21K
Price to Earnings (P/E)11.1
Beta (1Y)0.54
Revenue Growth0.71%
EPS Growth-9.71%
CountryJP
Employees1,031
SectorConsumer Defensive
Sector Strength42
IndustryPackaged Foods
Share Statistics
EPS (TTM)181.06
Shares Outstanding16,476,000
10 Day Avg. Volume38,780
30 Day Avg. Volume28,210
Financial Highlights & Ratios
PEG Ratio-1.08
Price to Book (P/B)0.78
Price to Sales (P/S)0.35
P/FCF Ratio115.93
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)173.64
Revenue Forecast (FY)¥91.87B
KENKO Mayonnaise Co., Ltd. Business Overview & Revenue Model
Company Description
KENKO Mayonnaise Co.,Ltd. manufactures and sells mayonnaise, dressing, and salad products in Japan. It develops salads that are used at restaurants, bakeries, and convenience stores under the Fashion Delica Foods brand name. The company also offer...
How the Company Makes Money
KENKO Mayonnaise makes money primarily by manufacturing and selling (1) mayonnaise and related condiment products (e.g., dressings and other emulsified sauces) and (2) prepared foods such as salads and delicatessen-style items. Revenue is generate...
KENKO Mayonnaise Co., Ltd. Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
86
Very Positive
Cash Flow
48
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 91.38B | 92.35B | 91.70B | 88.72B | 82.36B | 75.65B |
| Gross Profit | 19.83B | 20.86B | 20.54B | 18.02B | 14.63B | 15.80B |
| EBITDA | 6.36B | 6.91B | 7.25B | 5.65B | 2.88B | 4.41B |
| Net Income | 2.84B | 2.93B | 3.50B | 2.73B | 485.00M | 1.21B |
Balance Sheet | ||||||
| Total Assets | 63.08B | 63.92B | 64.08B | 67.37B | 63.01B | 61.76B |
| Cash, Cash Equivalents and Short-Term Investments | 14.69B | 13.49B | 15.73B | 15.73B | 12.29B | 12.44B |
| Total Debt | 3.69B | 3.29B | 5.51B | 6.45B | 5.50B | 10.47B |
| Total Liabilities | 23.00B | 22.35B | 24.11B | 28.39B | 26.21B | 25.22B |
| Stockholders Equity | 40.08B | 41.56B | 39.96B | 38.98B | 36.79B | 36.54B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 280.00M | 4.07B | 5.68B | 2.94B | 3.53B |
| Operating Cash Flow | 0.00 | 2.94B | 4.59B | 5.96B | 3.53B | 3.76B |
| Investing Cash Flow | 0.00 | -2.71B | -1.06B | -239.00M | -856.00M | -419.00M |
| Financing Cash Flow | 0.00 | -2.48B | -3.53B | -2.28B | -2.82B | -3.28B |
KENKO Mayonnaise Co., Ltd. Technical Analysis
Negative
1887.00
Price Trends
2156.12
Negative
2079.56
Negative
1971.06
Positive
Market Momentum
-68.25
Positive
36.85
Neutral
28.90
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:2915, the sentiment is Negative. The current price of 1887 is below the 20-day moving average (MA) of 2069.55, below the 50-day MA of 2156.12, and below the 200-day MA of 1971.06, indicating a neutral trend. The MACD of -68.25 indicates Positive momentum. The RSI at 36.85 is Neutral, neither overbought nor oversold. The STOCH value of 28.90 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:2915.
KENKO Mayonnaise Co., Ltd. Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | ¥4.74T | 23.62 | 9.46% | 1.32% | 3.47% | 99.65% | |
71 Outperform | ¥1.39T | 21.75 | 11.19% | 1.46% | 5.16% | 1.57% | |
71 Outperform | ¥575.76B | 28.74 | 9.28% | 1.30% | 5.86% | -17.47% | |
66 Neutral | ¥130.99B | 24.96 | ― | 1.08% | 4.45% | 11.13% | |
65 Neutral | ¥31.80B | 11.09 | ― | 2.23% | 0.71% | -9.71% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
60 Neutral | ¥166.25B | 7.50 | 12.56% | 3.44% | 4.40% | 91.05% |
* Consumer Defensive Sector Average
JP:2915
KENKO Mayonnaise Co., Ltd.
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KENKO Mayonnaise Co., Ltd. Corporate Events
KENKO Mayonnaise Lifts Dividend Amid Profit Decline and Modest Sales Growth
May 11, 2026
KENKO Mayonnaise reported fiscal 2026 consolidated net sales of ¥92.35 billion, up 0.7% year on year, but operating profit fell 14.3% to ¥4.16 billion and profit attributable to owners declined 16.4% to ¥2.93 billion, reflecting mar...
Kenko Mayonnaise Announces Leadership Transition and Director Changes
Apr 27, 2026
Kenko Mayonnaise has announced a leadership reshuffle, with long‑serving President and Representative Director Kunikazu Shimamoto set to retire at the close of the 69th Ordinary General Meeting of Shareholders on June 26, 2026, for personal ...
KENKO Mayonnaise Upgrades ‘Vision 2035’ to Pursue Global Food Solutions and Cash-Based Growth
Mar 2, 2026
KENKO Mayonnaise has revised its medium- to long-term management plan, “KENKO Vision 2035,” after achieving some management targets earlier than expected and in response to significant changes in the external business environment. The ...
KENKO Mayonnaise Revamps Board and Audit Lineup Ahead of 2026 Shareholders’ Meeting
Feb 24, 2026
KENKO Mayonnaise announced board changes ahead of its 69th ordinary general meeting of shareholders scheduled for June 26, 2026. Most incumbent directors, including Chairman Takashi Sumii and President Kunikazu Shimamoto, will be reappointed, whil...
KENKO Mayonnaise Accelerates DOE Policy With Sharp Hike in Year-End Dividend Forecast
Feb 13, 2026
KENKO Mayonnaise has revised its dividend policy as part of a broader review of its medium- to long-term management plan, after achieving some of the original management targets ahead of schedule. The company is shifting to a shareholder return fr...
KENKO Mayonnaise Profit Slumps but Dividend Outlook Rises
Feb 13, 2026
KENKO Mayonnaise reported nine-month net sales to December 31, 2025, of ¥70.26 billion, down 0.4% year on year, with operating profit dropping 22.4% and profit attributable to owners of parent falling 26.1%, reflecting margin pressure despite...
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.