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Consumer Non-Durables

Morinaga Milk Industry Co., Ltd.

Business Summary

Morinaga Milk Industry Co., Ltd. engages in the production and distribution dairy products. Its operations are carried out through the following segments: Food Products and Others. The Food Products segment engages in the production and sale of milk, dairy-based beverages, yogurt, desserts, condensed milk, powdered milk, butter, cheese, ice cream, non-dairy beverages (juice, tea, coffee), and clinical liquid diets. The Others segment provides real estate leasing services. It also engages in the manufacture and sale of animal feed; design and construction of plant equipment. The company was founded on September 1, 1917 and is headquartered in Tokyo, Japan.

Financial Highlights

Mar 2020 JPYUSD
Revenue590,892M5,434.70M
Gross Profit189,354M1,741.57M
Operating income25,359M233.23M
Income before tax26,506M243.78M
Net income18,657M171.59M
EBITDA43,932M404.06M
Diluted EPS376.353.46
Dividends Per Share600.55
Total Assets436,061M4,039.28M
Total liabilities252,916M2,342.79M
Total equity181,487M1,681.13M
Operating cash flow29,209M268.64M
Currency in JPYCurrency in USD

Historical Data

 Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020
Revenue 601,499M 592,617M 592,087M 583,582M 590,892M
Gross Profit 182,045M 193,331M 189,948M 185,245M 189,354M
Operating income 14,317M 21,100M 21,685M 22,332M 25,359M
Income before tax 15,784M 19,153M 23,470M 20,230M 26,506M
Net income 10,576M 13,202M 15,781M 14,018M 18,657M
EBITDA 32,011M 38,876M 39,337M 40,357M 43,932M
Diluted EPS 213.35 266.25 318.26 282.69 376.35
Dividends Per Share 35 45 50 55 60
Total Assets 378,852M 385,366M 414,823M 432,256M 436,061M
Total liabilities 249,482M 242,517M 255,716M 263,086M 252,916M
Total equity 128,411M 142,236M 157,755M 167,636M 181,487M
Operating cash flow 28,223M 37,349M 25,110M 18,506M 29,209M
 Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020
Revenue 5,008.97M 5,472.62M 5,342.18M 5,262.48M 5,434.70M
Gross Profit 1,515.97M 1,785.34M 1,713.83M 1,670.45M 1,741.57M
Operating income 119.22M 194.85M 195.65M 201.38M 233.23M
Income before tax 131.44M 176.87M 211.76M 182.42M 243.78M
Net income 88.07M 121.91M 142.38M 126.40M 171.59M
EBITDA 266.57M 359.00M 354.92M 363.92M 404.06M
Diluted EPS 1.77 2.45 2.87 2.54 3.46
Dividends Per Share 0.29 0.41 0.45 0.49 0.55
Total Assets 3,370.71M 3,458.36M 3,900.54M 3,905.28M 4,039.28M
Total liabilities 2,219.68M 2,176.40M 2,404.47M 2,376.88M 2,342.79M
Total equity 1,142.49M 1,276.46M 1,483.35M 1,514.53M 1,681.13M
Operating cash flow 235.02M 344.90M 226.55M 166.87M 268.64M

Valuation Measures

Mar 2020
PER11.08
ROA4.29%
ROE10.68%
Operating margin4.29%
Profit margin3.15%

Key executives

  • President & Representative Director: Michio Miyahara
  • Manager-Finance & Accounting: Katsushige Machida
  • Representative Director & Vice President: Teiichiro Ohkawa
  • Director & Managing Executive Officer: Shigemi Kusano
  • Director, Managing Executive Officer & GM-Sales: Kenichi Ohara

Shareholders

  • Morinaga & Co., Ltd. (10.5%)
  • Mizuho Financial Group, Inc. (4.9%)
  • Mitsubishi UFJ Financial Group, Inc. (4.6%)
  • Asset Management One Co., Ltd. (4.6%)
  • Sumitomo Mitsui DS Asset Management Co., Ltd. (3.2%)
  • Sumitomo Mitsui Banking Pension Fund (2.6%)
  • The Vanguard Group, Inc. (2.3%)
  • Morinaga & Co. Pension Fund (2.0%)
  • Nomura Asset Management Co., Ltd. (2.0%)
  • Morinaga Milk Industry Employee Stock Ownership Plan (1.9%)

Contact Details

Related Companies

  • Morinaga Milk Industry Restricted Stock Compensation Plan
  • Harbin Morinaga Milk Ltd.
  • Morinaga Milk Holland BV
  • Morinaga Milk Industry (Shanghai) Co. Ltd.
  • Morinaga Milk Industry Pension Fund
  • M&M Puropatei Huandeingu Corp.
  • Morinaga Nutritional Foods Deutschland GmbH
  • Taiwan Morinaga Nutritional Foods, Inc.
  • MK Cheese Co., Ltd.
  • Daily Foods KK
  • Okinawa Morinaga Nyugyo KK
  • Morinaga Engineering Co. Ltd.
  • Yokohama Milk Industry Co. Ltd.
  • Furiji Port KK
  • Shimizu Nyugyo KK
  • Morinyu Foods KK
  • Morinaga Rakunohambai, Inc.
  • Kumamoto Milk Industry Co. Ltd.
  • Towa Techno KK
  • Toyo Hakkonyu KK
  • Clinico Co., Ltd.
  • Morinaga Gunma Nyuseihin Hambai KK
  • Daily Service KK
  • Morinyu Sunworld Co. Ltd.
  • Toyo Milk Industry Co. Ltd.
  • Osidori Trading Co. Ltd.
  • Napoli ICE Cream Co. Ltd.
  • Tokyo Dairy Co. Ltd.
  • Tohoku Morinaga Nyugyo KK
  • Morinaga Gyunyu Hambai KK

Competitors

  • ICL Group Ltd.
Last Updated on 2 Jul, 2020

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