Noritake Co.,Limited (5331) AI Stock Analysis

• Market Cap: €153.43B
• Dividend Yield: 2.68%
• Average Volume (3M): 72.41K
• Price to Earnings (P/E): 12.7
• Beta (1Y): 0.96
• Revenue Growth: -2.45%
• EPS Growth: 7.31%
• Country: JP
• Employees: 4,821
• Sector: Industrials
• Sector Strength: 72
• Industry: Conglomerates
• EPS (TTM): 105.79
• Shares Outstanding: 28,103,498
• 10 Day Avg. Volume: 57,480
• 30 Day Avg. Volume: 72,413
• PEG Ratio: 0.57
• Price to Book (P/B): 0.67
• Price to Sales (P/S): 0.73
• P/FCF Ratio: -20.98
• 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: 78 Outperform
• Price Target: ¥6,122.00 ▲(10.51% Upside)

Noritake Co., Limited scores well due to its strong financial health and robust technical indicators. The company's low leverage and stable profitability are significant strengths. While the stock shows strong upward momentum, caution is advised due to potential overbought conditions. The valuation is attractive with a reasonable P/E ratio and a solid dividend yield.

Positive Factors

Strong Brand Recognition

Noritake's strong brand recognition allows it to command premium pricing, enhancing profitability and providing a competitive edge in both domestic and international markets.

Low Leverage

Low leverage reduces financial risk and enhances the company's ability to invest in growth opportunities, ensuring long-term stability and resilience against economic fluctuations.

Stable Profitability

Consistent profitability with stable margins indicates effective cost management and operational efficiency, supporting sustainable growth and shareholder value.

Negative Factors

Negative Free Cash Flow

Negative free cash flow can strain liquidity and limit the company's ability to fund new projects or return capital to shareholders, potentially impacting long-term growth.

Modest Revenue Growth

Modest revenue growth may hinder the company's ability to capture market share and compete effectively, especially in rapidly evolving industries.

Cash Flow Conversion Issues

Low cash flow conversion from profits suggests inefficiencies in cash management, which could impact the company's ability to reinvest in its operations and support future growth.

Noritake Co.,Limited Business Overview & Revenue Model

Company Description

Noritake Co., Limited manufactures and sells industrial, ceramic and material, tabletop, and engineering products in Japan and internationally. The company offers industrial products, such as abrasive wheels, coated abrasives, diamond and CBN tools, and grinding and polishing related products to automotive, steel, and bearing industries. Its ceramics and materials products include electronic pastes for multilayer ceramic capacitors and other electronic parts; thick film circuit boards for automotive, medical instruments, and light emitting diodes; and vacuum fluorescent displays and ceramic cores. In addition, the company develops and produces various engineering equipment, such as mixers for combining ingredients in chemical, medical, and food products; and filtration systems in grinding and polishing processes, as well as heating equipment for automobiles, electronic components, and energy-related industries. Further, it offers tabletop products comprising tableware for dining. Noritake Co., Limited was founded in 1904 and is headquartered in Nagoya, Japan.

How the Company Makes Money

Noritake generates revenue through multiple key streams, primarily from the sale of consumer tableware, which includes dinnerware, teacups, and decorative items. The company also earns income from its industrial products segment, which provides advanced ceramics used in electronics, automotive components, and healthcare applications. Significant partnerships with retailers and distributors globally enhance its reach and sales. Additionally, Noritake benefits from its strong brand recognition and reputation for quality, allowing it to command premium pricing for its products. The company invests in marketing and innovation to expand its product offerings and tap into emerging markets, further contributing to its earnings.

Noritake Co.,Limited Financial Statement Overview

Summary

Noritake Co., Limited demonstrates strong financial health with stable profitability and low leverage. The balance sheet is robust with a low debt-to-equity ratio and high equity ratio. However, cash flow management needs improvement, particularly in converting income to cash flow and managing capital expenditures.

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	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	136.81B	138.18B	137.91B	139.49B	127.64B	107.00B
Gross Profit	38.50B	38.63B	37.84B	35.36B	35.07B	26.67B
EBITDA	21.67B	22.45B	20.22B	17.39B	16.23B	8.92B
Net Income	12.16B	12.94B	11.48B	10.02B	9.07B	2.81B
Balance Sheet
Total Assets	200.70B	198.31B	202.07B	180.59B	163.56B	154.91B
Cash, Cash Equivalents and Short-Term Investments	16.14B	16.61B	21.34B	14.60B	14.17B	12.26B
Total Debt	21.49B	6.09B	2.72B	12.62B	6.59B	8.00B
Total Liabilities	49.80B	47.45B	54.10B	51.62B	44.76B	40.92B
Stockholders Equity	150.01B	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: Positive
• Last Price: 5540.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• 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 Positive. The current price of 5540 is above the 20-day moving average (MA) of 5519.50, above the 50-day MA of 5171.50, and above the 200-day MA of 4237.02, indicating a bullish trend. The MACD of 112.18 indicates Positive momentum. The RSI at 58.84 is Neutral, neither overbought nor oversold. The STOCH value of 25.96 is Neutral, 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	79 Outperform	¥456.84B	14.63	13.63%	1.95%	-1.33%	9.21%
8078	79 Outperform	¥289.74B	6.83	11.34%	3.38%	3.44%	6.97%
5331	78 Outperform	€153.43B	12.75	8.27%	2.68%	-2.45%	7.31%
4206	73 Outperform	¥228.15B	12.57	―	3.90%	2.65%	7.16%
5706	69 Neutral	¥1.03T	22.11	13.77%	0.97%	6.71%	-14.98%
3401	65 Neutral	¥257.40B	9.60	-20.43%	3.72%	-8.20%	―
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%

Noritake Co.,Limited Corporate Events

Noritake Co., Limited Increases Interim and Year-End Dividend Forecasts

Noritake Co., Limited announced a decision by its Board of Directors to distribute interim dividends of 80 yen per share for the fiscal year ending March 31, 2026, an increase from the previous forecast of 70 yen. The company also revised its year-end dividend forecast to 80 yen per share, aligning with its policy of maintaining stable dividends and achieving a total return ratio of 50% over three fiscal years, reflecting strong financial performance and future business development plans.

Noritake Co. Revises Earnings Forecast Upwards Following Strong First Half

Noritake Co., Limited announced better-than-expected financial results for the first half of the fiscal year ending March 31, 2026, driven by a recovery in sales of electronic paste and raw materials for multi-layer ceramic capacitors. As a result, the company has revised its full-year earnings forecast upwards, reflecting a positive outlook based on recent operating trends and an assumed exchange rate of 145 yen to the U.S. dollar.

Noritake Reports Decline in Mid-Year Financials but Raises Dividend Forecast

Noritake Co., Limited reported a decrease in its consolidated financial results for the six months ending September 30, 2025, with net sales dropping by 2.1% and operating profit declining by 12.9% compared to the previous year. Despite these declines, the company has revised its dividend forecasts upwards and anticipates a moderate increase in net sales and profits for the full fiscal year ending March 31, 2026, reflecting a strategic focus on improving shareholder returns and stabilizing financial performance.