ScoreWhy is Kikkoman Corp. ?
1
High Management Efficiency with a high ROE of 11.21%
2
Company's ability to service its debt is strong with a healthy EBIT to Interest (avg) ratio of 23.39
3
Healthy long term growth as Net Sales has grown by an annual rate of 9.35% and Operating profit at 14.02%
4
Negative results in Mar 26
- INTEREST(HY) At JPY 3,360 MM has Grown at 103.27%
- DIVIDEND PAYOUT RATIO(Y) Lowest at 110.95%
- INVENTORY TURNOVER RATIO(HY) Lowest at 4.58 times
5
With ROE of 10.98%, it has a expensive valuation with a 2.45 Price to Book Value
- The stock is trading at a premium compared to its peers' average historical valuations
- Over the past year, while the stock has generated a return of 21.96%, its profits have fallen by -4.4%
6
Majority shareholders : Non Institution
7
Underperformed the market in the last 1 year
- The stock has generated a return of 21.96% in the last 1 year, much lower than market (Japan Nikkei 225) returns of 88.41%
Real-Time Research ReportHow much should you hold?
- Overall Portfolio exposure to Kikkoman Corp. should be less than 10%
- Overall Portfolio exposure to FMCG should be less than 30%
(If sector exposure > 30%, please use optimiser tool to see which are the best stocks to hold in FMCG)
When to exit? - We will constantly monitor the company and suggest at the appropriate time to exit from the stock
Is Kikkoman Corp. for you?
Low Risk, High Return
Absolute
Risk Adjusted
Volatility
Kikkoman Corp.
23.16%
103.67
29.60%
Japan Nikkei 225
88.41%
3.25
27.24%
Quality
Management Risk
Growth
Capital StructureQuality key factors
Factor
Value
Sales Growth (5y)
9.35%
EBIT Growth (5y)
14.02%
EBIT to Interest (avg)
23.39
Debt to EBITDA (avg)
0
Net Debt to Equity (avg)
-0.16
Sales to Capital Employed (avg)
1.30
Tax Ratio
25.89%
Dividend Payout Ratio
38.47%
Pledged Shares
0
Institutional Holding
0.00%
ROCE (avg)
17.41%
ROE (avg)
11.21%
ValuationValuation Key Factors 
Factor
Value
P/E Ratio
22
Industry P/E
Price to Book Value
2.45
EV to EBIT
16.50
EV to EBITDA
12.27
EV to Capital Employed
2.64
EV to Sales
1.76
PEG Ratio
NA
Dividend Yield
NA
ROCE (Latest)
15.97%
ROE (Latest)
10.98%
TechnicalsTechnical key factors
Indicator
Weekly
Monthly
MACD
Bullish
Mildly Bullish
RSI
No Signal
Bearish
Bollinger Bands
Bullish
Bullish
Moving Averages
Bullish (Daily)
KST
Bullish
Mildly Bullish
Dow Theory
No Trend
Mildly Bullish
OBV
No Trend
Bullish
Technical Indicator Scale: Bearish, Mildly Bearish, Sideways, Mildly Bullish, Bullish Turned 
Financial Trend1What is working for the Company
RAW MATERIAL COST(Y)
Fallen by -3.4% (YoY
-11What is not working for the Company
INTEREST(HY)
At JPY 3,360 MM has Grown at 103.27%
DIVIDEND PAYOUT RATIO(Y)
Lowest at 110.95%
INVENTORY TURNOVER RATIO(HY)
Lowest at 4.58 times
OPERATING PROFIT MARGIN(Q)
Lowest at 12.16 %
Here's what is working for Kikkoman Corp.
Raw Material Cost
Fallen by -3.4% (YoY)
MOJO Watch
The company's ability to pass on the cost of raw materials to customers has improved; this may lead to a rise in profit margin
Raw Material Cost as a percentage of Sales
Depreciation
Highest at JPY 6,959 MM
in the last five periodsMOJO Watch
The expenditure on assets done by the company may have gone into operation
Depreciation (JPY MM)
Here's what is not working for Kikkoman Corp.
Interest
At JPY 3,360 MM has Grown at 103.27%
over previous Semi-Annual periodMOJO Watch
Rising interest cost signifies increased borrowings
Interest Paid (JPY MM)
Operating Profit Margin
Lowest at 12.16 %
in the last five periodsMOJO Watch
Company's profit margin has deteriorated
Operating Profit to Sales
Inventory Turnover Ratio
Lowest at 4.58 times
in the last five Semi-Annual periodsMOJO Watch
Company's pace of selling inventory has slowed
Inventory Turnover Ratio
Dividend Payout Ratio
Lowest at 110.95%
in the last five yearsMOJO Watch
Company is distributing lower proportion of profits generated as dividend
DPR (%)
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