Noritake Co.,Limited (5331) AI Stock Analysis

• Market Cap: ¥121.94B
• Dividend Yield: 3.17%
• Average Volume (3M): 71.84K
• Price to Earnings (P/E): 9.5
• Beta (1Y): 1.03
• Revenue Growth: 0.20%
• EPS Growth: 13.68%
• Country: JP
• Employees: 4,821
• Sector: Industrials
• Sector Strength: 93
• Industry: Conglomerates
• EPS (TTM): 131.46
• Shares Outstanding: 29,034,397
• 10 Day Avg. Volume: 98,590
• 30 Day Avg. Volume: 71,840
• PEG Ratio: 0.70
• Price to Book (P/B): 0.74
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• 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: ¥4,057.55
• Price Target Upside: -4.19% Downside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 0

• Rating: 80 Outperform
• Price Target: ¥4,858.00 ▲(14.71%Upside)

Noritake Co., Limited receives a strong overall score driven by robust technical analysis and attractive valuation. The company's financial performance is sound, with low leverage and stable profitability, although cash flow management needs improvement. The absence of earnings call and corporate event data does not detract from the overall positive assessment.

Noritake Co.,Limited Business Overview & Revenue Model

Company Description

Noritake Co., Limited is a Japanese company renowned for its production of high-quality ceramic and porcelain products. The company operates in various sectors, including tableware, industrial products, and electronic components. Established in 1904, Noritake has become a leader in the ceramics industry, offering a wide range of products such as dinnerware, grinding wheels, electronic paste, and dental products. The company's commitment to innovation and quality has helped maintain its reputation as a trusted brand worldwide.

How the Company Makes Money

Noritake Co., Limited generates revenue through a diversified business model that includes multiple key revenue streams. Primarily, the company earns money from its tableware division, where it offers a range of porcelain and ceramic products that are sold globally under the Noritake brand. Additionally, Noritake's industrial products segment contributes significantly to its income through the sale of grinding and cutting tools used in various manufacturing processes. The company's electronic components division also plays a crucial role in its revenue generation, with products like ceramic substrates and electronic pastes used in electronics manufacturing. Noritake's partnerships with manufacturers and distributors worldwide, along with its strong presence in both consumer and industrial markets, further bolster its financial performance. The company's ability to innovate and adapt to market trends ensures a steady demand for its diverse product offerings.

Noritake Co.,Limited Financial Statement Overview

Summary

Noritake Co., Limited presents a strong financial position with stable profitability and low leverage, indicating prudent financial management. While revenue and profit margins are healthy, the company should look to enhance growth to remain competitive. Cash flow management needs improvement, particularly in converting income to cash flow and managing capital expenditures. Overall, the company is financially resilient but should focus on improving its cash flow conversion efficiency.

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	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	138.18B	137.91B	139.49B	127.64B	107.00B
Gross Profit	38.63B	37.84B	35.36B	35.07B	26.67B
EBITDA	22.45B	20.22B	17.39B	16.23B	8.92B
Net Income	12.94B	11.48B	10.02B	9.07B	2.81B
Balance Sheet
Total Assets	198.31B	202.07B	180.59B	163.56B	154.91B
Cash, Cash Equivalents and Short-Term Investments	16.61B	21.34B	14.60B	14.17B	12.26B
Total Debt	6.09B	2.72B	12.62B	6.59B	8.00B
Total Liabilities	47.45B	54.10B	51.62B	44.76B	40.92B
Stockholders Equity	149.98B	147.10B	128.19B	118.12B	110.92B
Cash Flow
Free Cash Flow	-4.79B	16.72B	-5.57B	8.01B	-527.00M
Operating Cash Flow	2.02B	22.04B	-213.00M	12.84B	5.90B
Investing Cash Flow	-5.26B	-3.24B	-3.52B	-5.82B	-7.60B
Financing Cash Flow	-3.03B	-13.49B	3.31B	-5.39B	1.60B

Noritake Co.,Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 4235.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:5331, the sentiment is Positive. The current price of 4235 is above the 20-day moving average (MA) of 3962.25, above the 50-day MA of 3766.20, and above the 200-day MA of 3692.46, indicating a bullish trend. The MACD of 162.23 indicates Negative momentum. The RSI at 86.52 is Negative, neither overbought nor oversold. The STOCH value of 82.35 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:5331.

Noritake Co.,Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
5393	81 Outperform	¥378.43B	11.61	15.22%	1.88%	2.86%	20.93%
5331	80 Outperform	¥121.94B	9.46	8.66%	3.17%	0.20%	13.68%
5706	79 Outperform	$336.34B	5.20	20.86%	2.81%	10.15%	148.74%
4206	78 Outperform	¥240.62B	13.83		3.31%	5.10%	12.42%
8078	76 Outperform	€249.51B	5.45	12.33%	3.45%	5.04%	19.14%
3401	74 Outperform	$245.97B	8.70	-17.62%	3.90%	-2.64%	167.02%
Sector *	71 Outperform	¥266.83B	13.99	8.47%	2.88%	6.37%	12.94%

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.