Noritake Co.,Limited (5331) AI Stock Analysis

• Market Cap: €102.77B
• Dividend Yield: 3.9%
• Average Volume (3M): 62.61K
• Price to Earnings (P/E): 8.0
• Beta (1Y): 1.05
• Revenue Growth: 0.20%
• EPS Growth: 13.56%
• Country: JP
• Employees: 4,821
• Sector: Industrials
• Sector Strength: 87
• Industry: Conglomerates
• EPS (TTM): 131.46
• Shares Outstanding: 29,034,397
• 10 Day Avg. Volume: 53,710
• 30 Day Avg. Volume: 62,606
• PEG Ratio: 0.63
• Price to Book (P/B): 0.52
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -11.89
• 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

• Rating: 72 Outperform
• Price Target: ¥3,985.00 ▲(11.00%Upside)

Noritake Co., Limited demonstrates strong financial health and attractive valuation, driven by a low P/E ratio and high dividend yield. While technical indicators show limited short-term momentum, the company's robust equity position and low leverage are significant strengths. However, improvements in cash flow management are necessary to enhance the overall financial outlook.

Noritake Co.,Limited Business Overview & Revenue Model

Company Description

Noritake Co., Limited, founded in 1904, is a Japanese company primarily engaged in the production and sale of ceramics and related products. The company operates in several sectors, including industrial products, tableware, and electronic materials. Noritake is renowned for its high-quality porcelain tableware and has diversified its portfolio to include industrial grinding wheels, ceramic engineering products, and electronic pastes, serving a wide range of industries worldwide.

How the Company Makes Money

Noritake Co., Limited generates revenue through a diversified business model that encompasses multiple sectors. The company's primary revenue streams include the sale of high-end porcelain tableware, which is marketed to both domestic and international markets. Additionally, Noritake's industrial products division contributes significantly to its earnings by providing grinding wheels and other ceramic engineering products used in manufacturing and industrial processes. The electronic materials sector adds another layer of revenue through the sale of electronic pastes and materials used in electronics manufacturing. Noritake's earnings are further bolstered by strategic partnerships and a strong distribution network that extends its reach to global markets.

Noritake Co.,Limited Financial Statement Overview

Summary

Noritake Co., Limited exhibits solid profitability and financial health with a robust balance sheet. However, cash flow volatility and the need for growth improvements slightly temper the overall financial performance.

Income Statement

Noritake Co., Limited shows solid profitability with steady gross profit margins averaging around 28% over the years. The company has maintained a positive net profit margin, peaking at 9.4% in the most recent year. Revenue growth has been modest but consistent, with a slight increase from the previous year. EBIT and EBITDA margins are stable, demonstrating efficient cost management. However, the growth rate could be more aggressive to capture more market share.

Balance Sheet

The balance sheet reflects strong financial health with a low debt-to-equity ratio of approximately 0.04, indicating low leverage and financial risk. The equity ratio stands robustly at around 75%, signifying strong asset backing by equity. Return on Equity (ROE) is commendable at 8.6%, showcasing effective use of equity capital to generate profits. The company's strong equity position provides a buffer against uncertainties.

Cash Flow

Cash flow analysis indicates some volatility, with free cash flow turning negative in the most recent year due to significant capital expenditures. The operating cash flow to net income ratio is relatively low, suggesting potential issues in converting profits into cash. However, the company has shown capability to generate positive free cash flow in prior years, indicating potential for recovery if capital expenditures stabilize.

Breakdown
TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement		Total Revenue
139.01B	138.18B	137.91B	139.49B	127.64B	107.00B
	Gross Profit
38.92B	38.63B	37.84B	35.36B	35.07B	26.67B
	EBIT
10.77B	10.21B	10.71B	8.97B	9.35B	2.56B
	EBITDA
15.42B	22.45B	20.22B	17.39B	16.23B	8.92B
	Net Income Common Stockholders
11.60B	12.94B	11.48B	10.02B	9.07B	2.81B
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
18.78B	16.61B	21.34B	14.60B	14.17B	12.26B
	Total Assets
201.98B	198.31B	202.07B	180.59B	163.56B	154.91B
	Total Debt
9.47B	6.09B	2.72B	12.62B	6.59B	8.00B
	Net Debt
-9.31B	-10.52B	-18.62B	-1.99B	-7.58B	-4.27B
	Total Liabilities
50.83B	47.45B	54.10B	51.62B	44.76B	40.92B
	Stockholders Equity
150.22B	149.98B	147.10B	128.19B	118.12B	110.92B
Cash Flow		Free Cash Flow
0.00	-4.79B	16.72B	-5.57B	8.01B	-527.00M
	Operating Cash Flow
0.00	2.02B	22.04B	-213.00M	12.84B	5.90B
	Investing Cash Flow
0.00	-5.26B	-3.24B	-3.52B	-5.82B	-7.60B
	Financing Cash Flow
0.00	-3.03B	-13.49B	3.31B	-5.39B	1.60B

Noritake Co.,Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 3590.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:5331, the sentiment is Negative. The current price of 3590 is below the 20-day moving average (MA) of 3636.25, above the 50-day MA of 3576.90, and below the 200-day MA of 3676.86, indicating a neutral trend. The MACD of 2.46 indicates Positive momentum. The RSI at 44.72 is Neutral, neither overbought nor oversold. The STOCH value of 31.31 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:5331.

Noritake Co.,Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
5706	81 Outperform	$269.14B	4.16	20.86%	3.19%	10.15%	148.74%
5393	81 Outperform	$336.24B	10.32	15.22%	2.21%	2.86%	20.84%
8078	79 Outperform	¥208.06B	4.55	12.33%	4.10%	5.04%	19.14%
4206	78 Outperform	¥236.64B	13.61		3.64%	5.10%	12.58%
5331	72 Outperform	€102.77B	7.97	8.66%	3.90%	0.20%	13.56%
Sector *	66 Neutral	$4.47B	12.22	5.40%	3.65%	4.14%	-12.00%
3401	61 Neutral	$211.21B	7.47	-17.62%	4.55%	-2.64%	166.88%

Noritake Co.,Limited Corporate Events

Noritake Announces Treasury Shares Disposal for Stock Compensation

Noritake Co., Limited has announced a resolution to dispose of 167,000 treasury shares as part of a performance-linked stock compensation plan aimed at motivating its directors and executive officers. This strategic move is designed to enhance corporate value over the medium to long term, with the shares being allocated to The Master Trust Bank of Japan, Ltd. The disposal is expected to have a minor impact on the stock market, with a dilution rate of 0.58%, and is seen as a reasonable step to support the company’s growth objectives.

Noritake Co., Limited Reports Fiscal Year 2025 Financial Results with Increased Profit

Noritake Co., Limited reported its consolidated financial results for the fiscal year ended March 31, 2025, with net sales of 138,182 million yen, a slight increase of 0.2% year-on-year. Despite a decrease in operating and ordinary profits, the company saw a 12.7% rise in profit attributable to owners of the parent. The company also announced a reduction in dividends per share for the year, reflecting a cautious approach amid changing market conditions.

Noritake Co., Limited Announces Change in Dividend Policy

Noritake Co., Limited has announced a change in its dividend policy, increasing the consolidated dividend payout ratio from 30% to 35% starting from the fiscal year ending March 31, 2026. The company aims to implement a progressive dividend payment strategy with a minimum annual dividend of 140 yen per share and a total return ratio of 50% or more over three fiscal years, reflecting its commitment to sustainable growth and enhanced shareholder returns.

Noritake Unveils 13th Three-Year Business Plan Targeting Growth and Innovation

Noritake Co., Limited has announced its 13th Three-Year Business Plan, covering fiscal years 2025 to 2027, as part of its strategy to achieve VISION2030. The plan focuses on establishing a growth base by enhancing revenue, investing in accelerated growth, and expanding into new business areas. Key initiatives include promoting sustainability, strengthening human capital management, and advancing digital transformation. The company aims for consolidated net sales of ¥157.5 billion and a consolidated operating profit of ¥13.5 billion by fiscal 2027, while also seeking high-value business opportunities through strategic alliances and innovation.