Mino Ceramic Co., Ltd. (5356) AI Stock Analysis

• Market Cap: ¥11.98B
• Dividend Yield: 3.42%
• Average Volume (3M): 19.63K
• Price to Earnings (P/E): 9.4
• Beta (1Y): 0.30
• Revenue Growth: 8.37%
• EPS Growth: 8.13%
• Country: JP
• Employees: 331
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Construction Materials
• EPS (TTM): 31.51
• Shares Outstanding: 12,909,828
• 10 Day Avg. Volume: 22,890
• 30 Day Avg. Volume: 19,626
• PEG Ratio: 0.46
• Price to Book (P/B): 0.59
• Price to Sales (P/S): 0.57
• P/FCF Ratio: 13.93
• 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: Moderate Buy
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 68 Neutral
• Price Target: ¥1,310.00 ▲(10.27% Upside)

Mino Ceramic Co., Ltd. demonstrates strong financial performance with robust revenue growth and profitability, supported by a solid balance sheet. However, technical indicators suggest bearish momentum, which could pose short-term risks. The stock's valuation appears attractive with a low P/E ratio and a healthy dividend yield, offering potential value for long-term investors.

Positive Factors

Revenue Growth

The company's consistent revenue growth and improved profit margins indicate strong market demand and effective cost management, supporting long-term financial health.

Balance Sheet Health

A strong balance sheet with low leverage enhances financial stability, providing resilience against economic fluctuations and supporting future growth initiatives.

Cash Flow Management

Effective cash flow management ensures liquidity and operational flexibility, enabling the company to invest in growth opportunities and weather financial challenges.

Negative Factors

Free Cash Flow Growth Decline

A decline in free cash flow growth suggests potential inefficiencies in capital allocation, which could impact the company's ability to finance future projects and expansions.

Debt Management

An increase in debt levels, even if slight, requires careful management to prevent future financial strain and ensure continued low leverage.

Operational Efficiency

Moderate improvements in operational margins indicate potential inefficiencies. Enhancing operational efficiency could improve profitability and competitive positioning.

Mino Ceramic Co., Ltd. Business Overview & Revenue Model

Company Description

Mino Ceramic Co., Ltd. (5356) is a leading manufacturer of high-quality ceramic products, catering primarily to the home decor and construction industries. The company specializes in producing a diverse range of ceramic tiles, tableware, and sanitary ware, combining innovative designs with advanced manufacturing techniques. Mino Ceramic operates primarily in the Asia-Pacific region, focusing on both domestic and international markets to deliver premium ceramic solutions.

How the Company Makes Money

Mino Ceramic Co., Ltd. generates revenue primarily through the sale of its ceramic products, which include tiles, tableware, and sanitary ware. The company operates a multi-channel distribution model, selling directly to retailers and wholesalers while also engaging in online sales to reach a broader customer base. Key revenue streams include large-scale contracts with construction firms and partnerships with home improvement retailers, which provide a steady demand for their ceramic tiles and sanitary ware. Additionally, Mino Ceramic benefits from economies of scale in production, allowing for competitive pricing that attracts both bulk buyers and individual consumers. Strategic partnerships with designers and architects further enhance their market presence, leading to increased sales and brand recognition.

Mino Ceramic Co., Ltd. Financial Statement Overview

Summary

Mino Ceramic Co., Ltd. exhibits strong financial health with robust revenue growth, improved profitability margins, and a solid balance sheet characterized by low leverage and effective equity utilization. Cash flow management remains strong, although there is a noticeable decline in free cash flow growth, necessitating attention to capital allocation strategies.

Income Statement

Mino Ceramic Co., Ltd. demonstrates strong revenue growth with increasing gross and net profit margins. The company achieved a revenue growth rate of 6.36% from 2024 to 2025, and gross profit margin improved to 26.62% in 2025 from 26.01% in 2024. The net profit margin also increased to 8.08% from 7.45% in the same period. However, EBIT and EBITDA margins exhibit moderate improvement, suggesting room for operational efficiency enhancements.

Balance Sheet

The company maintains a robust balance sheet with a healthy equity ratio of 68.00% and a low debt-to-equity ratio of 0.10 in 2025, indicating strong financial stability and low leverage. Return on equity is impressive at 8.39%, showing effective use of shareholder funds. However, the slight increase in total debt from previous years suggests caution in debt management.

Cash Flow

Mino Ceramic Co., Ltd. showcases strong cash flow management with a high operating cash flow to net income ratio of 0.99. The free cash flow to net income ratio is 0.51, indicating a stable conversion of earnings to cash. However, the free cash flow growth rate decreased significantly from 2024 to 2025, highlighting potential inefficiencies in capital expenditure.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	15.62B	15.06B	14.16B	14.61B	12.41B	11.84B
Gross Profit	4.20B	4.01B	3.68B	3.79B	3.10B	3.13B
EBITDA	2.16B	2.13B	1.98B	1.97B	1.43B	1.63B
Net Income	1.28B	1.22B	1.05B	1.07B	680.08M	857.84M
Balance Sheet
Total Assets	21.31B	21.34B	20.38B	19.77B	18.14B	17.21B
Cash, Cash Equivalents and Short-Term Investments	4.34B	4.18B	4.11B	2.65B	2.61B	2.70B
Total Debt	1.47B	1.47B	1.53B	1.72B	1.82B	1.95B
Total Liabilities	6.71B	6.83B	6.79B	7.31B	6.62B	6.17B
Stockholders Equity	14.60B	14.51B	13.59B	12.46B	11.52B	11.04B
Cash Flow
Free Cash Flow	0.00	616.71M	1.56B	463.96M	458.19M	-276.16M
Operating Cash Flow	0.00	1.20B	1.89B	740.45M	1.17B	612.20M
Investing Cash Flow	0.00	-513.24M	-160.28M	-221.82M	-1.13B	-925.44M
Financing Cash Flow	0.00	-419.51M	-458.45M	-287.84M	-332.95M	-204.67M

Mino Ceramic Co., Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1188.00
• 50DMA: Negative
• 100DMA: Negative
• 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:5356, the sentiment is Negative. The current price of 1188 is below the 20-day moving average (MA) of 1213.05, below the 50-day MA of 1284.94, and above the 200-day MA of 1067.86, indicating a neutral trend. The MACD of -26.24 indicates Positive momentum. The RSI at 31.06 is Neutral, neither overbought nor oversold. The STOCH value of 25.38 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:5356.

Mino Ceramic Co., Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
5352	76 Outperform	¥148.61B	7.32	―	2.77%	1.43%	91.97%
5363	75 Outperform	¥25.73B	8.68	―	3.52%	6.15%	17.51%
5388	73 Outperform	¥14.86B	12.48	―	3.47%	2.65%	20.98%
5357	73 Outperform	¥26.42B	14.83	―	5.04%	-2.29%	-41.92%
5356	68 Neutral	¥11.98B	9.43	―	3.42%	8.37%	8.13%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
5386	53 Neutral	¥3.13B	19.72	―	1.59%	-4.01%	-41.29%