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BELC Co., Ltd.
(9974)
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Rating:65Neutral
Price Target:
¥6,859.00
▲(4.88% Upside)
Action:Reiterated
Date:08/06/26
The score is driven primarily by solid operating performance and a manageable balance sheet, offset by volatile cash generation with negative free cash flow in the latest year. Technicals are currently weak (below major moving averages), while valuation is supportive with a modest P/E and a moderate dividend yield.
Positive Factors
Revenue Growth
A clear multi-year revenue expansion with a sizable step-up in 2026 indicates durable demand and scale gains in core supermarket sales. Sustained top-line growth supports merchandising leverage, supplier negotiating power and allows continued reinvestment in stores and services, strengthening long-term competitive position.
Negative Factors
Free Cash Flow Volatility
Negative and volatile free cash flow reduces the company's financial flexibility to fund capex, repay debt or return capital, especially if expansion or working-capital needs persist. Over a 2–6 month horizon this raises the probability of relying on external financing or delaying investments, increasing execution risk.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
A clear multi-year revenue expansion with a sizable step-up in 2026 indicates durable demand and scale gains in core supermarket sales. Sustained top-line growth supports merchandising leverage, supplier negotiating power and allows continued reinvestment in stores and services, strengthening long-term competitive position.
Read all positive factors
BELC Co., Ltd. (9974) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥138.97B
Dividend Yield1.86%
Average Volume (3M)18.13K
Price to Earnings (P/E)11.3
Beta (1Y)0.28
Revenue Growth7.40%
EPS Growth-1.99%
CountryJP
Employees2,914
SectorGeneral
Sector StrengthN/A
IndustryGrocery Stores
Share Statistics
EPS (TTM)608.69
Shares Outstanding20,867,800
10 Day Avg. Volume17,380
30 Day Avg. Volume18,130
Financial Highlights & Ratios
PEG Ratio5.41
Price to Book (P/B)1.39
Price to Sales (P/S)0.40
P/FCF Ratio-74.13
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)602.95
Revenue Forecast (FY)¥443.20B
BELC Co., Ltd. Business Overview & Revenue Model
Company Description
Belc Co. Ltd. manages a widespread network of grocery supermarkets. The company offers a comprehensive selection of food items, including fresh and processed meats, seafood, produce (both fresh and prepared), dairy and egg products, various proces...
How the Company Makes Money
BELC makes money mainly by selling merchandise—primarily food (fresh foods such as produce, meat, seafood; processed and packaged foods; beverages) and everyday household necessities (e.g., toiletries and other consumables)—to individual consumers...
BELC Co., Ltd. Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
74
Positive
Cash Flow
56
Neutral
| Breakdown | Feb 2026 | Feb 2025 | Feb 2024 | Feb 2023 | Feb 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 423.43B | 387.78B | 351.86B | 310.82B | 300.27B |
| Gross Profit | 118.89B | 109.42B | 99.95B | 89.87B | 77.10B |
| EBITDA | 26.15B | 24.84B | 21.83B | 20.86B | 19.36B |
| Net Income | 12.68B | 12.38B | 10.68B | 9.61B | 9.19B |
Balance Sheet | |||||
| Total Assets | 221.38B | 202.19B | 185.82B | 170.70B | 154.44B |
| Cash, Cash Equivalents and Short-Term Investments | 19.85B | 17.83B | 17.03B | 15.58B | 11.79B |
| Total Debt | 43.70B | 36.77B | 34.51B | 35.83B | 29.70B |
| Total Liabilities | 100.78B | 92.26B | 85.85B | 79.39B | 70.79B |
| Stockholders Equity | 120.59B | 109.92B | 99.97B | 91.30B | 83.65B |
Cash Flow | |||||
| Free Cash Flow | -2.27B | 4.72B | 3.80B | -988.00M | 724.00M |
| Operating Cash Flow | 20.93B | 22.69B | 21.06B | 15.62B | 17.06B |
| Investing Cash Flow | -22.77B | -21.72B | -16.23B | -15.93B | -18.48B |
| Financing Cash Flow | 3.78B | -165.00M | -3.38B | 4.10B | 5.84B |
BELC Co., Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | ¥104.22B | 10.58 | ― | 2.59% | 0.95% | 3.40% | |
70 Outperform | ¥81.95B | 9.24 | ― | 1.47% | 6.78% | -1.61% | |
68 Neutral | ¥57.92B | 9.97 | ― | 1.34% | 21.78% | 12.45% | |
67 Neutral | ¥223.56B | 17.43 | ― | 2.62% | 3.25% | 1.50% | |
65 Neutral | ¥138.97B | 11.33 | ― | 1.90% | 7.40% | -1.99% | |
65 Neutral | ¥60.11B | 12.35 | ― | 3.00% | 3.64% | -11.83% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
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BELC Co., Ltd. Corporate Events
Belc Posts Profit Decline Despite Higher Sales, Keeps Dividend Growth Outlook
Jul 10, 2026
Belc reported consolidated operating income of ¥107.75 billion for the three months ended May 31, 2026, up 3.9% year on year, while operating profit, ordinary profit and profit attributable to owners of parent all declined by around mid-teens...
Belc weighs reducing minimum investment unit to broaden investor base
May 20, 2026
Belc Co., Ltd. announced its approach and policy regarding a possible reduction in the minimum investment unit for its shares, in line with Tokyo Stock Exchange regulations. The company views a lower minimum investment amount as a way to broaden i...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.