Financials Mitsubishi Shokuhin Co., Ltd.

Equities

7451

JP3976000004

Food Retail & Distribution

Market Closed - Japan Exchange Other stock markets 07:00:00 02/05/2024 BST			5-day change	1st Jan Change
5,440 ^JPY	-0.91%		+0.37%	+13.10%

04-19	Homefarm International Joint Stock Company announced that it has received VND 45 billion in funding from Mitsubishi Shokuhin Co., Ltd.	CI
04-19	AN unknown buyer agreed to acquire a stake in Inageya Co., Ltd.	CI

Valuation

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	165,470	158,785	176,839	131,047	141,173	236,300	-	-
Enterprise Value (EV) ¹	169,113	165,719	182,996	136,966	146,154	236,300	236,300	236,300
P/E ratio	13.8 x	13.9 x	16 x	10.3 x	8.25 x	10.7 x	10.1 x	9.45 x
Yield	1.73%	1.8%	1.62%	2.66%	3.38%	2.94%	3.13%	3.31%
Capitalization / Revenue	0.06 x	0.06 x	0.07 x	0.07 x	0.07 x	0.11 x	0.11 x	0.11 x
EV / Revenue	0.06 x	0.06 x	0.07 x	0.07 x	0.07 x	0.11 x	0.11 x	0.11 x
EV / EBITDA	6,602,973 x	-	-	4,322,400 x	-	-	-	-
EV / FCF	48,999,260 x	-	13,727,638 x	17,963,881 x	10,424,822 x	-	-	-
FCF Yield	0%	-	0%	0%	0%	-	-	-
Price to Book	0.94 x	0.86 x	0.9 x	0.77 x	0.77 x	-	-	-
Nbr of stocks (in thousands)	57,138	57,137	57,137	43,537	43,438	43,438	-	-
Reference price ²	2,896	2,779	3,095	3,010	3,250	5,440	5,440	5,440
Announcement Date	09/05/19	11/05/20	10/05/21	09/05/22	11/05/23	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	2,620,316	2,654,698	2,577,625	1,955,601	1,996,780	2,085,000	2,190,000	2,250,000
EBITDA	25,060	-	-	30,318	-	-	-	-
EBIT ¹	16,742	15,378	15,621	19,036	23,433	29,000	31,000	33,000
Operating Margin	0.64%	0.58%	0.61%	0.97%	1.17%	1.39%	1.42%	1.47%
Earnings before Tax (EBT)	17,420	17,001	16,662	20,172	24,973	-	-	-
Net income ¹	11,963	11,408	11,077	13,949	17,126	22,000	23,500	25,000
Net margin	0.46%	0.43%	0.43%	0.71%	0.86%	1.06%	1.07%	1.11%
EPS ²	209.4	199.7	193.9	292.3	393.9	506.5	541.0	575.5
Free Cash Flow	3,377	-	12,882	7,295	13,542	-	-	-
FCF margin	0.13%	-	0.5%	0.37%	0.68%	-	-	-
FCF Conversion (EBITDA)	13.48%	-	-	24.06%	-	-	-	-
FCF Conversion (Net income)	28.23%	-	116.3%	52.3%	79.07%	-	-	-
Dividend per Share ²	50.00	50.00	50.00	80.00	110.0	160.0	170.0	180.0
Announcement Date	09/05/19	11/05/20	10/05/21	09/05/22	11/05/23	-	-	-

¹JPY in Million²JPY

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March	2020 S1	2021 S1	2022 S1	2022 Q3	2023 Q1	2023 S1	2023 Q3	2024 Q1	2024 S1	2024 Q3
Net sales ¹	1,351,280	1,299,849	1,008,815	520,858	489,270	998,603	527,044	510,187	1,042,182	545,233
EBITDA	-	-	-	-	-	-	-	-	-	-
EBIT ¹	5,098	6,078	8,339	6,420	4,040	10,060	9,190	5,844	13,669	10,425
Operating Margin	0.38%	0.47%	0.83%	1.23%	0.83%	1.01%	1.74%	1.15%	1.31%	1.91%
Earnings before Tax (EBT) ¹	7,718	8,271	8,943	7,088	4,726	10,986	9,804	6,601	14,809	11,652
Net income ¹	5,227	5,548	6,267	4,933	3,271	7,454	6,678	4,558	10,159	8,252
Net margin	0.39%	0.43%	0.62%	0.95%	0.67%	0.75%	1.27%	0.89%	0.97%	1.51%
EPS ²	91.49	97.10	122.2	106.5	75.15	171.3	153.6	104.9	233.9	190.0
Dividend per Share	25.00	25.00	35.00	-	-	45.00	-	-	80.00	-
Announcement Date	01/11/19	02/11/20	01/11/21	02/02/22	03/08/22	01/11/22	06/02/23	04/08/23	01/11/23	05/02/24

¹JPY in Million²JPY

Estimates

Balance Sheet Analysis

Fiscal Period: March	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt	3,643	6,934	6,157	5,919	4,981	-	-	-
Net Cash position	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	0.1454 x	-	-	0.1952 x	-	-	-	-
Free Cash Flow	3,377	-	12,882	7,295	13,542	-	-	-
ROE (net income / shareholders' equity)	7%	6.3%	5.8%	7.6%	9.7%	-	-	-
ROA (Net income/ Total Assets)	2.62%	2.4%	2.48%	3.02%	3.67%	-	-	-
Assets ¹	457,144	476,198	447,088	462,019	466,458	-	-	-
Book Value Per Share	3,081	3,219	3,446	3,908	4,204	-	-	-
Cash Flow per Share	350.0	365.0	368.0	522.0	663.0	-	-	-
Capex	12,936	17,788	10,946	11,989	10,963	-	-	-
Capex / Sales	0.49%	0.67%	0.42%	0.61%	0.55%	-	-	-
Announcement Date	09/05/19	11/05/20	10/05/21	09/05/22	11/05/23	-	-	-

¹JPY in Million

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Mitsubishi Shokuhin Co., Ltd.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

5,440 JPY

Average target price

6,500 JPY

Spread / Average Target

+19.49%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Other Food Retail & Distribution

	1st Jan change	Capi.
MITSUBISHI SHOKUHIN CO., LTD.	+13.10%	1.55B
KROGER CO. (THE)	+19.94%	39.53B
SYSCO CORPORATION	+2.71%	37.53B
LOBLAW COMPANIES LIMITED	+21.24%	34.36B
AHOLD DELHAIZE N.V.	+7.94%	28.83B
TESCO PLC	+2.69%	26.09B
WOOLWORTHS GROUP LIMITED	-18.04%	24.7B
GEORGE WESTON LIMITED	+13.85%	18.13B
AEON CO., LTD.	+2.60%	18.1B
CP ALL	+4.02%	14.21B

Other Food Retail & Distribution