Fujimori Kogyo Co (7917) AI Stock Analysis

• Market Cap: ¥118.55B
• Dividend Yield: 3.01%
• Average Volume (3M): 151.44K
• Price to Earnings (P/E): 14.6
• Beta (1Y): 0.82
• Revenue Growth: 5.44%
• EPS Growth: 45.99%
• Country: JP
• Employees: 2,664
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Packaging & Containers
• EPS (TTM): 36.17
• Shares Outstanding: 77,071,040
• 10 Day Avg. Volume: 147,180
• 30 Day Avg. Volume: 151,443
• PEG Ratio: 0.25
• Price to Book (P/B): 0.82
• Price to Sales (P/S): 0.50
• P/FCF Ratio: -6.79
• 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): 91.29
• Revenue Forecast (FY): ¥156.50B

• Rating: 77 Outperform
• Price Target: ¥1,750.00 ▲(51.65% Upside)
• Action: Reiterated Date: 02/07/26
• Date: Action: Reiterated 02/07/26

The score is driven primarily by strong financial performance (growth, profitability, and low leverage), tempered by negative free cash flow from heavy capital spending. Technicals remain constructive but look overbought, while valuation appears reasonable with a solid dividend yield.

Positive Factors

Revenue growth and margins

Sustained double-digit revenue growth alongside healthy gross and EBITDA margins signals durable demand for packaging and specialty films. These metrics point to pricing power and favorable product mix, supporting medium-term profitability and reinvestment capacity across cycles.

Very low leverage and strong equity base

A near-60% equity ratio and minimal debt provide substantial financial flexibility for capex, working capital, or opportunistic M&A without elevating solvency risk. Low leverage reduces interest and refinancing exposure, bolstering resilience over multiple quarters.

Operating cash conversion

Operating cash flow tracking net income indicates earnings quality and effective cash collection. This cash conversion underpins the company's ability to fund operations and dividends from internal sources, offering a sustainable cash-generation foundation despite headline capex.

Negative Factors

Negative free cash flow from heavy capex

Persistent negative free cash flow driven by elevated capex can erode liquidity and require external financing if maintained. Over a 2–6 month horizon, continued heavy investment without near-term cash returns could constrain flexibility for dividends, buybacks or opportunistic spending.

Moderate returns on capital

A mid-single-digit ROE and modest net margins indicate only moderate capital efficiency. This limits the pace at which retained earnings can compound shareholder value and suggests the business must improve margins or mix toward higher-value products to materially raise long-term returns.

Exposure to raw-material cost volatility

Dependence on resin and other raw materials creates structural margin risk: packaging customers may resist price pass-through in commoditized segments. Over several months, swings in input costs could compress margins if the company cannot fully transfer increases to customers.

Fujimori Kogyo Co Business Overview & Revenue Model

Company Description

Fujimori Kogyo Co., Ltd. provides packaging materials, medical/pharmaceutical packaging materials, and materials for the functional fields in Japan and internationally. It operates through Life Science, Information Electronics, and Building Materials segments. The company offers optoelectronic products, such as MASTACK TFB, a protection film for optical applications. It also provides electronic products, including MASTACK PC, a heat-resistant protection film; FILMBYNA, a release film for pharmaceutical patches, double-sided tapes, optical and other adhesion applications, electronic substrates, etc.; CLEAN PACK used for transfer between processes and transport of semiconductors and precision devices; and META-SEAL FILM, an adhesive film. In addition, the company offers single-use bags for bio-pharmaceutical production processes and microbiological cultures, plant culture bags, packaging materials for pharmaceutical products and medical instruments, PP packaging materials, chemical solution bags, liquid sticks, sealant materials, film separators, and double-structure aerosol systems. Further, it provides high-hermetic containers, refillable self-standing pouches, collapsible liquid containers, plastic film-lined liquid containers, single-use culture products, liquid-pouch packaging materials, packaging materials for retort sterilization, pouches with a spout, drum liners, and large-sized liquid transport containers. The company offers its products under the ZACROS brand name. Fujimori Kogyo Co., Ltd. was founded in 1914 and is headquartered in Tokyo, Japan.

How the Company Makes Money

Fujimori Kogyo generates revenue through the sale of its packaging and printing products, which are tailored to meet the specific needs of its clients across various sectors. The company’s key revenue streams include the production of flexible packaging materials, such as pouches and films, as well as specialized food packaging that enhances product preservation and safety. Additionally, Fujimori Kogyo benefits from partnerships with major manufacturers in the food and pharmaceutical industries, allowing for bulk orders and long-term contracts that provide steady income. The company also invests in research and development to innovate new packaging solutions, which helps maintain a competitive edge and attract new customers, thereby contributing to its overall earnings.

Fujimori Kogyo Co Financial Statement Overview

Summary

Strong income statement (revenue up 10.71% YoY; solid gross margin 23.04% and EBITDA margin 10.49%) and a robust balance sheet (59.80% equity ratio; very low debt-to-equity 0.05). The main drag is cash flow quality: free cash flow is negative due to high capital expenditures, despite operating cash flow tracking net income (OCF/NI 1.01).

Income Statement

Fujimori Kogyo Co has shown strong revenue growth with a revenue increase from 2024 to 2025 by 10.71%. The Gross Profit Margin stands at a healthy 23.04%, and the Net Profit Margin is 4.33%, indicating solid profitability. The EBIT and EBITDA margins are 6.71% and 10.49%, respectively, showing effective cost management and operational efficiency.

Balance Sheet

The company maintains a strong equity position with an Equity Ratio of 59.80%, indicating a robust financial structure. The Debt-to-Equity Ratio is low at 0.05, suggesting minimal leverage risk. Return on Equity is decent at 7.10%, reflecting a reasonable return on shareholders' investments.

Cash Flow

The Operating Cash Flow to Net Income Ratio is 1.01, indicating good cash generation relative to net income. However, the Free Cash Flow is negative, showing a significant outflow mainly due to high capital expenditures. This could pose a liquidity risk if it continues.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	151.57B	150.74B	136.16B	129.36B	127.82B	117.25B
Gross Profit	35.08B	34.74B	29.75B	25.71B	28.68B	26.66B
EBITDA	16.11B	15.81B	13.23B	13.00B	16.56B	15.61B
Net Income	6.56B	6.53B	4.53B	4.85B	7.69B	7.28B
Balance Sheet
Total Assets	151.99B	153.93B	141.68B	128.44B	127.37B	117.39B
Cash, Cash Equivalents and Short-Term Investments	20.43B	22.48B	32.11B	30.62B	28.15B	24.28B
Total Debt	4.44B	4.67B	1.65B	1.99B	1.97B	2.72B
Total Liabilities	52.29B	53.23B	48.04B	39.16B	42.15B	39.45B
Stockholders Equity	91.29B	92.00B	85.96B	82.45B	79.34B	73.06B
Cash Flow
Free Cash Flow	-10.61B	-11.14B	3.15B	3.23B	6.10B	2.17B
Operating Cash Flow	4.55B	6.59B	10.08B	8.37B	11.40B	11.89B
Investing Cash Flow	-15.02B	-17.46B	-6.10B	-3.97B	-5.18B	-9.89B
Financing Cash Flow	1.02B	269.00M	-3.51B	-2.44B	-2.77B	-806.00M

Fujimori Kogyo Co Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1154.00
• 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:7917, the sentiment is Positive. The current price of 1154 is below the 20-day moving average (MA) of 1373.70, below the 50-day MA of 1249.92, and above the 200-day MA of 1074.58, indicating a bullish trend. The MACD of 75.03 indicates Negative momentum. The RSI at 78.75 is Negative, neither overbought nor oversold. The STOCH value of 84.89 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:7917.

Fujimori Kogyo Co Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
7917	77 Outperform	¥118.55B	14.56	7.53%	3.01%	5.44%	45.99%
3954	76 Outperform	¥13.94B	11.03	―	1.20%	6.42%	-6.32%
3950	76 Outperform	¥78.67B	12.49	―	6.64%	2.85%	-9.13%
7942	73 Outperform	¥86.92B	13.19	―	3.31%	0.83%	-9.16%
7864	70 Outperform	¥157.69B	7.06	10.46%	2.35%	4.56%	49.23%
3951	70 Outperform	¥19.56B	13.58	―	4.39%	5.06%	-15.22%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%

Fujimori Kogyo Co Corporate Events

ZACROS Overhauls Board and Executive Lineup Ahead of June Shareholders Meeting

ZACROS Corporation has announced a slate of executive personnel changes, to be finalized at its June 19, 2026 shareholders meeting and subsequent board session, reflecting a broad refresh of its leadership and governance structure. The reshuffle confirms Akihiko Fujimori as Director and Chairman, maintains Taku Shimoda as Representative Director and President, reaffirms Michihiko Sato’s role overseeing core corporate functions, and strengthens supervisory oversight through multiple independent directors, signaling an emphasis on continuity, enhanced governance, and stakeholder confidence.

The appointment of Norihiro Kusaka, President of FUJIMORI SANGYO CO., LTD., as a director further deepens group-level ties and may support more integrated management across related businesses. Additional independent directors, including Satoko Takeuchi, Kumi Izawa, Shoji Hatano, and Manabu Sakai, highlight an effort to bolster the Supervisory Committee and align board composition with evolving corporate governance standards in Japan, potentially improving transparency and decision-making for shareholders and other stakeholders.

The most recent analyst rating on (JP:7917) stock is a Hold with a Yen1486.00 price target. To see the full list of analyst forecasts on Fujimori Kogyo Co stock, see the JP:7917 Stock Forecast page.

ZACROS Raises Full-Year Earnings Forecast on Strong Business and Efficiency Gains

ZACROS Corporation has raised its full-year consolidated earnings forecast for the fiscal year ending March 31, 2026, citing stronger-than-expected performance in its Environmental Solutions, Electronic Materials, and Industrial Infrastructure businesses. The company now projects net sales of ¥158 billion, operating profit of ¥10.8 billion, ordinary profit of ¥12.1 billion, and profit attributable to owners of parent of ¥7.5 billion, all above its previous guidance and last year’s results, with notable upside from higher revenues, improved production efficiency, price pass-through, foreign exchange gains, and insurance claim receipts. Despite the profit upgrade and the impact of a prior share split and ongoing share buyback on per-share earnings, ZACROS is leaving its dividend forecast unchanged, signaling confidence in earnings momentum while maintaining a stable shareholder return policy.

The most recent analyst rating on (JP:7917) stock is a Buy with a Yen1407.00 price target. To see the full list of analyst forecasts on Fujimori Kogyo Co stock, see the JP:7917 Stock Forecast page.

ZACROS Highlights Diversified Materials Portfolio Across Wellness, Environment, Electronics, and Infrastructure

In its supplementary materials for the nine-month financial period ending December 31, 2025, ZACROS outlines the breadth of its operations across four core business fields: Wellness, Environmental Solutions, Electronic Materials, and Industrial Infrastructure. By emphasizing specialized healthcare packaging and biomedical solutions, recyclable-oriented daily and industrial packaging, high-functional electronic materials, and infrastructure-related products such as chimneys and tunnel construction materials, the company underscores a strategy focused on health, sustainability, and advanced technology, positioning itself as an integrated supplier that supports biopharmaceutical production, circular-economy packaging needs, and the digital and industrial infrastructure underpinning an “ultrasmart” society.

The most recent analyst rating on (JP:7917) stock is a Buy with a Yen1407.00 price target. To see the full list of analyst forecasts on Fujimori Kogyo Co stock, see the JP:7917 Stock Forecast page.

ZACROS Lifts Full-Year Outlook on Strong Nine-Month Earnings and Stock Split-Adjusted Dividends

ZACROS Corporation reported solid earnings growth for the nine months ended 31 December 2025, with net sales rising 5.6% year on year to ¥119.7 billion and net income attributable to owners of the parent jumping 22.9% to ¥6.5 billion, helped by improved profitability and higher ordinary income. The company maintained a strong financial position with total assets of ¥156.9 billion and an equity ratio of 59.5%, increased its treasury share holdings, and continued shareholder returns via dividends that take into account a four-for-one stock split implemented on 1 October 2025. Management revised its full-year forecast upward, now projecting net sales of ¥158.0 billion and net income of ¥7.5 billion for the year ending 31 March 2026, signaling confidence in sustained earnings momentum and the strategic benefits of group expansion, including the addition of its Wuxi subsidiary to the consolidated scope.

The most recent analyst rating on (JP:7917) stock is a Buy with a Yen1407.00 price target. To see the full list of analyst forecasts on Fujimori Kogyo Co stock, see the JP:7917 Stock Forecast page.

ZACROS Advances Share Buyback Program, Repurchasing Over 800,000 Shares

ZACROS Corporation has been executing a share buyback program authorized by its board on November 6, 2025, under which it may repurchase up to 1.82 million shares, or 2.5% of its outstanding stock (excluding treasury shares), for a maximum of ¥2 billion through market purchases on the Tokyo Stock Exchange between November 7, 2025, and June 30, 2026. In the most recent month of the program, from January 1 to January 31, 2026, the company repurchased 274,700 shares for ¥321.7 million, bringing cumulative acquisitions under the program to 813,200 shares at a total cost of ¥925.7 million, a move that tightens the share float and may enhance capital efficiency and shareholder returns as the company continues to deploy its balance sheet for buybacks.

The most recent analyst rating on (JP:7917) stock is a Buy with a Yen1374.00 price target. To see the full list of analyst forecasts on Fujimori Kogyo Co stock, see the JP:7917 Stock Forecast page.

ZACROS Reports Progress on Ongoing Share Buyback Program

ZACROS Corporation has reported the status of its ongoing share buyback program authorized by its board on November 6, 2025, under its Articles of Incorporation and the Companies Act of Japan. Between December 1 and December 31, 2025, the company repurchased 294,800 shares of its common stock on the Tokyo Stock Exchange for a total of ¥339.3 million, bringing cumulative buybacks under the current program to 538,500 shares at a cost of ¥604.0 million as of December 31, 2025. This activity is part of a broader authorization allowing repurchases of up to 1,820,000 shares, or 2.5% of outstanding shares excluding treasury stock, for a maximum of ¥2.0 billion through June 30, 2026, underscoring management’s active capital allocation policy and potential support for shareholder value.

The most recent analyst rating on (JP:7917) stock is a Buy with a Yen1248.00 price target. To see the full list of analyst forecasts on Fujimori Kogyo Co stock, see the JP:7917 Stock Forecast page.