ScoreWhy is Morinaga Milk Industry Co., Ltd. ?
1
High Management Efficiency with a high ROCE of 9.29%
2
Poor long term growth as Net Sales has grown by an annual rate of -1.03% over the last 5 years
3
The company has declared positive results in Mar'2025 after 4 consecutive negative quarters
- NET PROFIT(HY) Higher at JPY 18,619.93 MM
- INTEREST COVERAGE RATIO(Q) Highest at 5,090.66
- RAW MATERIAL COST(Y) Fallen by -0.04% (YoY)
4
With ROCE of 8.79%, it has a very attractive valuation with a 1.08 Enterprise value to Capital Employed
- 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 23.26%, its profits have fallen by -56.4%
Real-Time Research ReportHow much should you hold?
- Overall Portfolio exposure to Morinaga Milk Industry Co., Ltd. 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 Morinaga Milk Industry Co., Ltd. for you?
Low Risk, Low Return
Absolute
Risk Adjusted
Volatility
Morinaga Milk Industry Co., Ltd.
23.26%
0.47
22.79%
Japan Nikkei 225
28.54%
1.11
25.75%
Quality
Management Risk
Growth
Capital StructureQuality key factors
Factor
Value
Sales Growth (5y)
-1.03%
EBIT Growth (5y)
3.18%
EBIT to Interest (avg)
31.13
Debt to EBITDA (avg)
1.39
Net Debt to Equity (avg)
0.27
Sales to Capital Employed (avg)
1.49
Tax Ratio
69.56%
Dividend Payout Ratio
139.33%
Pledged Shares
0
Institutional Holding
0.05%
ROCE (avg)
9.29%
ROE (avg)
14.24%
ValuationValuation Key Factors 
Factor
Value
P/E Ratio
10
Industry P/E
Price to Book Value
1.10
EV to EBIT
12.29
EV to EBITDA
6.78
EV to Capital Employed
1.08
EV to Sales
0.65
PEG Ratio
NA
Dividend Yield
NA
ROCE (Latest)
8.79%
ROE (Latest)
10.66%
TechnicalsTechnical key factors
Indicator
Weekly
Monthly
MACD
Bullish
Mildly Bullish
RSI
No Signal
No Signal
Bollinger Bands
Bullish
Mildly Bullish
Moving Averages
Bullish (Daily)
KST
Bullish
Mildly Bullish
Dow Theory
Mildly Bearish
No Trend
OBV
Mildly Bearish
No Trend
Technical Indicator Scale: Bearish, Mildly Bearish, Sideways, Mildly Bullish, Bullish Turned 
Financial Trend13What is working for the Company
NET PROFIT(HY)
Higher at JPY 18,619.93 MM
INTEREST COVERAGE RATIO(Q)
Highest at 5,090.66
RAW MATERIAL COST(Y)
Fallen by -0.04% (YoY
EPS(Q)
Highest at JPY 82.82
-4What is not working for the Company
ROCE(HY)
Lowest at 2.61%
DEBT-EQUITY RATIO
(HY)
Highest at 30.49 %
INVENTORY TURNOVER RATIO(HY)
Lowest at 5.01%
Here's what is working for Morinaga Milk Industry Co., Ltd.
Net Profit
At JPY 18,619.93 MM has Grown at 172.23%
Year on Year (YoY)MOJO Watch
Near term Net Profit trend is very positive
Net Profit (JPY MM)
Interest Coverage Ratio
Highest at 5,090.66
in the last five periodsMOJO Watch
The company's ability to manage interest payments is improving
Operating Profit to Interest
Net Profit
Higher at JPY 18,619.93 MM
than preceding 12 month period ended Jun 2025MOJO Watch
In the half year the company has already crossed Net Profit of the previous twelve months
Net Profit (JPY MM)
EPS
Highest at JPY 82.82
in the last five periodsMOJO Watch
Increasing profitability; company has created higher earnings for shareholders
EPS (JPY)
Raw Material Cost
Fallen by -0.04% (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
Here's what is not working for Morinaga Milk Industry Co., Ltd.
Debt-Equity Ratio
Highest at 30.49 %
in the last five Semi-Annual periodsMOJO Watch
The company is borrowing more to fund its operations; it's liquidity situation may be stressed
Debt-Equity Ratio
Inventory Turnover Ratio
Lowest at 5.01%
in the last five Semi-Annual periodsMOJO Watch
Company's pace of selling inventory has slowed
Inventory Turnover Ratio
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