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Consumer Non-Durables

Kewpie Corp.

Business Summary

Kewpie Corp. engages in the manufacture and sale of food products. It operates through the following business segments: Condiment and Seasoning, Salad and Delicatessen, Egg, Fruit Solutions, Fine Chemicals, Distribution, and Common. The Condiment and Seasoning segment manufactures and sells mayonnaise, dressings, vinegar, pasta sauce, baby food, and nursing food products. The Salad and Delicatessen segment provides salads and side dishes. The Egg segment offers egg products such as liquid egg, frozen egg, soft boiled egg, omelets, egg salad, and processed egg. The Fruit Solutions segment supplies processed fruit products to dairy and food manufacturers such as jams, peanut cream, and terrine spread. The Fine Chemicals segment provides hyaluronic acid as an ingredient for pharmaceuticals, food, and cosmetics. The Distribution segment deals with food transportation and storage services. The Common segment includes the sale of food and manufacturing machinery. The company was founded by Toichiro Nakashima on November 30, 1919 and is headquartered in Tokyo, Japan.

Financial Highlights

Nov 2021 JPYUSD
Gross Profit121,961M1,118.98M
Operating income27,972M256.64M
Income before tax28,860M264.78M
Net income18,014M165.27M
Diluted EPS128.161.17
Dividends Per Share470.43
Total Assets381,003M3,355.52M
Total liabilities111,699M983.74M
Total equity245,641M2,163.38M
Operating cash flow38,533M353.53M
Currency in JPYCurrency in USD

Historical Data

 Nov 2017Nov 2018Nov 2019Nov 2020Nov 2021
Revenue 561,688M 573,525M 545,723M 531,103M 407,039M
Gross Profit 126,149M 130,234M 130,085M 122,421M 121,961M
Operating income 31,261M 33,069M 32,049M 28,304M 27,972M
Income before tax 30,783M 33,586M 32,487M 23,296M 28,860M
Net income 18,100M 18,321M 18,699M 11,591M 18,014M
EBITDA 48,462M 51,798M 50,942M 48,595M 43,506M
Diluted EPS 121.05 124.85 130.71 81.03 128.16
Dividends Per Share 36.50 38 45 40 47
Total Assets 419,207M 419,736M 444,309M 454,276M 381,003M
Total liabilities 155,771M 153,633M 167,553M 166,917M 111,699M
Total equity 226,440M 226,332M 235,552M 239,744M 245,641M
Operating cash flow 27,234M 41,778M 43,916M 34,955M 38,533M
 Nov 2017Nov 2018Nov 2019Nov 2020Nov 2021
Revenue 4,997.66M 5,190.04M 4,995.21M 4,953.75M 3,734.56M
Gross Profit 1,122.42M 1,178.53M 1,190.71M 1,141.85M 1,118.98M
Operating income 278.14M 299.25M 293.35M 264.00M 256.64M
Income before tax 273.89M 303.93M 297.36M 217.28M 264.78M
Net income 161.04M 165.79M 171.15M 108.11M 165.27M
EBITDA 431.19M 468.73M 466.29M 453.26M 399.16M
Diluted EPS 1.07 1.12 1.19 0.75 1.17
Dividends Per Share 0.32 0.34 0.41 0.37 0.43
Total Assets 3,746.09M 3,696.48M 4,057.24M 4,356.51M 3,355.52M
Total liabilities 1,391.99M 1,352.99M 1,530.02M 1,600.73M 983.74M
Total equity 2,023.50M 1,993.23M 2,150.96M 2,299.15M 2,163.38M
Operating cash flow 242.31M 378.06M 401.97M 326.03M 353.53M

Valuation Measures

Nov 2021
Operating margin6.87%
Profit margin4.42%

Key executives

  • Chairman, Head-Compliance & Brand: Amane Nakashima
  • President & Representative Director: Mitsuru Takamiya
  • Director, GM-Research & Development: Yoshinori Hamachiyo
  • Executive Officer & General Manager-Personnel: Masaya Urata
  • Executive Officer & GM-Wide Area Sales: Atsushi Tagawa


  • Kieikai Research Foundation (3.0%)
  • Sumitomo Mitsui Trust Asset Management Co., Ltd. (2.7%)
  • Nomura Asset Management Co., Ltd. (2.3%)
  • Sumitomo Mitsui Financial Group, Inc. (2.2%)
  • Mizuho Bank Pension Fund (2.2%)
  • Nippon Life Insurance Co. (2.1%)
  • Dai-ichi Life Holdings, Inc. (2.1%)
  • Asset Management One Co., Ltd. (1.8%)
  • The Vanguard Group, Inc. (1.8%)

Contact Details

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    Last Updated on 16 Aug, 2022

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