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Morinaga Milk Industry Co., Ltd. (2264.T)

JPY1,218.00 -11.50 (-0.94%)
JP JPX Consumer Defensive Packaged Foods
Address Morinaga Plaza Building 108-8384
Tokyo, JP
CEO Yohichi Ohnuki
IPO 2001-01-01
ISIN JP3926800008

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Description

Operating both domestically in Japan and across global markets, Morinaga Milk Industry Co., Ltd., along with its affiliated companies, specializes in the production and distribution of a wide array of dairy goods. Its extensive product portfolio encompasses staple dairy items like milk, yogurt, cheese, and butter. Beyond these, it extends to include chilled sweet treats, frozen desserts, specialized nutrition such as infant formulas and baby foods, health-focused dietary supplements, and dietary products for medical or elderly care. The beverage segment features a variety of milk-based drinks, coffee concoctions, and refreshing chilled teas. Furthermore, Morinaga supplies creaming powders, condensed milks, and even TOFU products. The firm also provides key ingredients for infant and toddler nutrition, specifically whey protein concentrate, lactose, and lactoferrin. Its operations additionally span the processing and packaging of various items, notably tofu and other soy-derived goods. Furthermore, Morinaga manages direct-to-consumer sales of health supplements and offers equipment for hygiene control. Established in 1917, the company, originally named Nippon Rennyu Co., Ltd. until its rebranding in 1949, maintains its corporate headquarters in Tokyo, Japan.

Market Cap & Enterprise Value
Merger & Acquisition History

No mergers or acquisitions recorded for this company.

Technical Outlook
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Signal Summary Loading…
Indicator 1D1W2W3W1M
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
Averages
Trend
Price
Levels
Draw
JPY1,218.00 -11.50 (-0.94%)
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Volume Profile
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Liquidity & share structure
Average Volume
2M
Beta
0.17
Float Shares
58.89M
Free Float %
73.0%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
-3.04% -3.74% -7.19% +0.96% +24.84% +20.49% +38.22% +69.91% +40.84% +173.18% +593.95%
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
From To
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Annual Monthly Returns
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Daily Returns Distribution
vs.
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Revenue flow

Revenue by geography

Revenue by segment

From To

Revenue composition

From To

By product

By geography

Financial Statements

Income Statement

Balance Sheet

Cash Flow Statement

Key Metrics

Financial Ratios

Employees

Financial Growth (CAGR)

Market Data

Price Targets & DCF
Current price
1,218.00
DCF (Unlevered) 4,249.51 +248.9%

DCF figures are point estimates: small changes in growth or discount-rate assumptions move them materially. Read them as a reference, not a precise target.

Ratings Trend (MoM) 75% Bullish
Rating 2026-05 Change
Strong Buy 2 0
Buy 1 0
Hold 1 -1
Sell 0 0
Strong Sell 0 0
Quality scores
Altman Z-Score
2.80
Grey zone
Piotroski F-Score
5 / 9
Average
MOAT Score
4 / 10
Developing
Composite Rating
B-
Overall Score
2 / 5
Medium
DCF Score
1 / 5
Low
ROE Score
2 / 5
Medium
ROA Score
3 / 5
Medium
D/E Score
2 / 5
Medium
P/E Score
2 / 5
Medium
P/Book Score
4 / 5
High
Operational MOAT
✗ Below peers
  • Revenue growth Packaged Foods: +4.4%
    +1.8% Q1'26: +2.4% (vs Q1'25)
  • EPS growth Packaged Foods: +14.6%
    +327.4% Q1'26: +108.3% (vs Q1'25)
  • FCF margin FCF growth · Packaged Foods: +15.9%
    +1.0% Q1'26: +0.0% (vs Q1'25)
  • EBIT margin Packaged Foods: +7.9%
    +6.0% Q1'26: +2.8% (vs Q1'25)
  • ROIC Packaged Foods: +7.0%
    +6.5% Q1'26: +3.8% (vs Q1'25)
  • Share dilution Packaged Foods: +0.0%
    -3.1% Q1'26: -14.0% (vs Q1'25)
  • Debt / EBITDA Net debt/EBITDA · Packaged Foods: 0.19×
    2.10× Q1'26: 3.06× (vs Q1'25)
Valuation Multiples From To
Price Forecast (3Y) From To
Model
Adjust
P/E
Theoretical Return — If Invested Today

* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.

DCF Interactive Model (UFCF)
Projection years:
Market assumptions
WACC components (optional)
Ke (Cost of Equity) = Rf + β (0.16) × ERP
WACC = 75% × Ke + 25% × Kd (4.1%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
Intrinsic value (base): 5,704.73 Current price: 1,218.00
Enterprise Value: Equity Value: Terminal Value: TV as % of EV:

Base values reflect the latest available data for this company and market conditions.

Consensus Estimates
Metric Mar 2015
actual
Mar 2016
actual
Mar 2017
actual
Mar 2018
actual
Mar 2019
actual
Mar 2020
actual
Mar 2021
actual
Mar 2022
actual
Mar 2023
actual
Mar 2024
actual
Mar 2025
actual
Mar 2026
4 Rev. Ana.
4 EPS Ana.
Mar 2027
1 Rev. Ana.
1 EPS Ana.
Mar 2028
4 Rev. Ana.
4 EPS Ana.
Mar 2029
1 Rev. Ana.
1 EPS Ana.
Mar 2030
1 Rev. Ana.
1 EPS Ana.
Revenue
594.83B
est: 596.00B (-0.2%)
601.50B
est: 607.00B (-0.9%)
592.62B
est: 590.00B (+0.4%)
592.09B
est: 606.31B (-2.3%)
583.58B
est: 575.70B (+1.4%)
590.89B
est: 589.90B (+0.2%)
583.55B
est: 581.02B (+0.4%)
503.35B
est: 499.64B (+0.7%)
525.60B
est: 522.74B (+0.5%)
547.06B
est: 547.96B (-0.2%)
561.17B
est: 562.10B (-0.2%)
574.93B
569.32B – 577.92B
+2.3% YoY
591.05B
587.96B – 594.23B
+2.8% YoY
600.45B
594.25B – 606.84B
+1.6% YoY
610.00B
606.81B – 613.29B
+1.6% YoY
626.60B
623.33B – 629.98B
+2.7% YoY
EBITDA
23.68B
est: 70.27B (-66.3%)
34.37B
est: 71.56B (-52.0%)
37.71B
est: 69.56B (-45.8%)
41.84B
est: 71.48B (-41.5%)
38.86B
est: 67.87B (-42.7%)
45.69B
est: 69.55B (-34.3%)
47.09B
est: 68.50B (-31.3%)
70.30B
est: 58.91B (+19.3%)
45.85B
est: 61.63B (-25.6%)
113.46B
est: 57.15B (+98.5%)
41.40B
est: 58.62B (-29.4%)
59.96B
59.38B – 60.27B
+2.3% YoY
61.64B
61.32B – 61.98B
+2.8% YoY
62.62B
61.98B – 63.29B
+1.6% YoY
63.62B
63.29B – 63.96B
+1.6% YoY
65.35B
65.01B – 65.70B
+2.7% YoY
EBIT
7.21B
est: 45.76B (-84.2%)
16.81B
est: 46.60B (-63.9%)
20.08B
est: 45.30B (-55.7%)
24.33B
est: 46.55B (-47.7%)
20.98B
est: 44.20B (-52.5%)
27.25B
est: 45.29B (-39.8%)
26.70B
est: 44.61B (-40.1%)
49.04B
est: 38.36B (+27.8%)
24.43B
est: 40.13B (-39.1%)
89.86B
est: 27.97B (+221.3%)
16.79B
est: 28.69B (-41.5%)
29.35B
29.06B – 29.50B
+2.3% YoY
30.17B
30.01B – 30.33B
+2.8% YoY
30.65B
30.33B – 30.98B
+1.6% YoY
31.14B
30.97B – 31.30B
+1.6% YoY
31.98B
31.82B – 32.16B
+2.7% YoY
Net Income
4.16B
est: 3.43B (+21.5%)
10.58B
est: 5.94B (+77.9%)
13.20B
est: 11.04B (+19.6%)
15.78B
est: 12.86B (+22.7%)
14.02B
est: 10.43B (+34.4%)
18.66B
est: 16.97B (+9.9%)
18.74B
est: 13.94B (+34.4%)
33.78B
est: 30.51B (+10.7%)
16.88B
est: 14.72B (+14.6%)
61.31B
est: 13.32B (+360.3%)
5.46B
est: 11.70B (-53.3%)
21.28B
20.17B – 22.39B
+81.9% YoY
27.09B
26.91B – 27.28B
+27.3% YoY
29.05B
27.67B – 30.43B
+7.2% YoY
29.37B
29.17B – 29.57B
+1.1% YoY
32.17B
31.95B – 32.39B
+9.5% YoY
SGA
165.75B
est: 120.00B (+38.1%)
167.73B
est: 122.22B (+37.2%)
172.23B
est: 118.80B (+45.0%)
168.26B
est: 122.08B (+37.8%)
162.91B
est: 115.92B (+40.5%)
164.00B
est: 118.78B (+38.1%)
161.20B
est: 116.99B (+37.8%)
92.48B
est: 100.60B (-8.1%)
94.36B
est: 105.25B (-10.4%)
104.12B
est: 111.52B (-6.6%)
105.40B
est: 114.40B (-7.9%)
117.01B
115.87B – 117.62B
+2.3% YoY
120.29B
119.67B – 120.94B
+2.8% YoY
122.21B
120.95B – 123.51B
+1.6% YoY
124.15B
123.50B – 124.82B
+1.6% YoY
127.53B
126.86B – 128.22B
+2.7% YoY
EPS
42.14
est: 40.50 (+4.0%)
107.00
est: 70.25 (+52.3%)
133.51
est: 130.50 (+2.3%)
159.50
est: 152.00 (+4.9%)
141.67
est: 123.30 (+14.9%)
188.55
est: 200.60 (-6.0%)
189.36
est: 164.80 (+14.9%)
343.73
est: 360.64 (-4.7%)
186.57
est: 174.33 (+7.0%)
696.91
est: 157.41 (+342.7%)
64.59
est: 138.23 (-53.3%)
248.84
238.37 – 264.62
+80.0% YoY
320.18
318.01 – 322.43
+28.7% YoY
343.74
327.00 – 359.63
+7.4% YoY
347.10
344.74 – 349.53
+1.0% YoY
380.20
377.62 – 382.86
+9.5% YoY
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-05-14 B- 2/5 1/5 2/5 3/5 2/5 2/5 4/5
2026-05-13 B- 2/5 1/5 2/5 3/5 2/5 2/5 4/5
2026-05-12 B- 2/5 1/5 2/5 3/5 2/5 2/5 4/5
2026-05-11 B- 2/5 1/5 2/5 3/5 2/5 2/5 4/5
2026-05-08 B- 2/5 1/5 2/5 3/5 2/5 2/5 4/5
2026-05-07 B- 2/5 1/5 2/5 3/5 2/5 2/5 4/5
2026-05-01 B- 2/5 1/5 2/5 3/5 2/5 2/5 4/5
2026-04-30 B- 2/5 1/5 2/5 3/5 2/5 2/5 4/5
2026-04-28 B- 3/5 1/5 2/5 4/5 2/5 2/5 4/5
2026-04-27 B 3/5 2/5 2/5 4/5 2/5 2/5 4/5
2026-04-24 B- 3/5 1/5 2/5 4/5 2/5 2/5 4/5
2026-04-23 B 3/5 2/5 2/5 4/5 2/5 2/5 4/5
2026-04-22 B 3/5 2/5 2/5 4/5 2/5 2/5 4/5
2026-04-21 B 3/5 2/5 2/5 4/5 2/5 2/5 4/5
2026-04-20 B 3/5 2/5 2/5 4/5 2/5 2/5 4/5
2026-04-17 B 3/5 2/5 2/5 4/5 2/5 2/5 4/5
2026-04-16 B 3/5 2/5 2/5 4/5 2/5 2/5 4/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
8.80B
OE per share TTM
100.67
Owner's Yield
2.32%
Maintenance CapEx ratio
31.74%
Maint CapEx / Avg PPE
46.1%

Ownership Overview

Ownership breakdown

Ownership breakdown not available.

At a glance
Institutional holders
Total invested
Insider transactions (90d)
0
Beneficial owners (>5%)
0
Beneficial owners (>5%)

No beneficial ownership filings recorded.

Institutional Activity (13F)

Institutional ownership trend

Institutional history not available.

Top institutional holders

Top holders not available.

ETF Ownership

Top ETFs holding this stock Held by 108 ETFs in our universe
# ETF Weight Est. AUM exposure TER
1 MUFG Japan Small Cap Active ETF MJSC 1.54% 351.4K 0.85%
2 ALPS Funds CoreCommodity Natural Resources ETF CCNR 0.27% 986.8K 0.39%
3 WisdomTree Japan SmallCap Dividend Fund DFJ 0.25% 959.1K 0.58%
4 Avantis International Small Cap Value ETF AVDV 0.21% 40.16M 0.36%
5 iShares MSCI Japan Small-Cap ETF SCJ 0.18% 449.8K 0.50%
6 iShares MSCI Japan Small Cap UCITS ETF IDJP.L 0.16% 912.3K 0.58%
7 State Street SPDR S&P International Small Cap ETF GWX 0.14% 1.20M 0.40%
8 Schwab Fundamental International Small Company Index ETF FNDC 0.13% 3.99M 0.39%
9 Avantis International Small Cap Equity ETF AVDS 0.09% 297.1K 0.30%
10 Avantis Global Small Cap Value UCITS ETF AVGS.L 0.09% 958.5K 0.39%

Insider Activity

Insider Activity — Latest Quarter

No insider activity available.

Insider buys vs sells (history)

Insider history not available.

Recent insider transactions

No recent insider transactions.

Executive team

Top executives
EBIT / Employee
4.65M
Shares Outstanding
80.69M

Executive compensation

Executive compensation (annual)

Executive compensation not available.

CEO compensation breakdown

No CEO compensation history available.

Proxy statements

Proxy statements (DEF 14A)

No proxy statements available for this company yet.

Recent SEC filings

Recent SEC filings

No SEC filings available for this company yet.

Executive team

NameTitleCompensationGender
Akihiro Nozaki Executive Managing Officer, GM of Finance & Accounting Division and Director male
Hidekazu Takano Executive Managing Officer & GM of Corporate Division male
Hiroko Kuno Executive Managing Officer, GM of Corporate Strategic Planning Division & Director female
Hiroyuki Ueda General Manager of IR Group, Public Relations & IR Department - Communications Headquarters
Hitoshi Hyodo Executive Managing Officer, GM of Domestic Sales Division & Director male
Kiyoshi Nomura Executive Managing Officer & GM of Overseas Business male
Toshihisa Tomizawa General Manager of IR&PR Department
Toshikazu Asakawa General Manager of Finance & Accounting Department, Strategic Planning Division
Yasuhiko Yanagida Executive Managing Officer, GM of Manufacturing Div. & Director male
Yohichi Ohnuki President & Representative Director male
ESG Score History

No data available for this company.

Senate Trading Activity

No Senate trading activity found for this company.

House Trading Activity

No House trading activity found for this company.

Market share among peers
Peer comparison — filtered group (TTM)
Your opinion

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Dividend yield history

Dividend history

Earnings history

Earnings reports

Stock splits