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Ensuiko Sugar Refining Co., Ltd.
(2112)
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Rating:79Outperform
Price Target:
¥538.00
▲(1.70% Upside)
Action:Reiterated
Date:08/17/26
The score is driven primarily by improving fundamentals (stronger margins and sharply better leverage) and very compelling valuation (low P/E and high dividend yield). Technicals are supportive but somewhat stretched (RSI/Stochastic near overbought and still below the 200-day average), and the recent revenue decline plus uneven cash generation temper the overall rating.
Positive Factors
Improving Profitability
Material margin expansion from 2023 levels indicates stronger earnings economics and improved operating efficiency. If maintained, higher profitability can support reinvestment, dividends, and resilience against cost pressure.
Negative Factors
Declining Revenue
The recent top-line contraction indicates that stronger margins are not yet supported by sustained sales growth. Continued weakness could limit scale benefits, reduce operating leverage, and make earnings improvement harder to maintain.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving Profitability
Material margin expansion from 2023 levels indicates stronger earnings economics and improved operating efficiency. If maintained, higher profitability can support reinvestment, dividends, and resilience against cost pressure.
Read all positive factors
Ensuiko Sugar Refining Co., Ltd. (2112) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥12.74B
Dividend Yield4.27%
Average Volume (3M)48.27K
Price to Earnings (P/E)4.5
Beta (1Y)0.61
Revenue Growth-0.50%
EPS Growth33.06%
CountryJP
Employees83
SectorConsumer Defensive
Sector Strength42
IndustryFood Confectioners
Share Statistics
EPS (TTM)103.41
Shares Outstanding35,000,000
10 Day Avg. Volume42,100
30 Day Avg. Volume48,266
Financial Highlights & Ratios
PEG Ratio0.17
Price to Book (P/B)0.68
Price to Sales (P/S)0.43
P/FCF Ratio7.73
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Ensuiko Sugar Refining Co., Ltd. Business Overview & Revenue Model
Company Description
Ensuiko Sugar Refining Co., Ltd. operates in Japan, manufacturing and supplying a diverse range of refined sugar products. Its extensive portfolio includes granular, white, stick, and liquid sugars, alongside specialty ingredients such as lactose ...
How the Company Makes Money
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Ensuiko Sugar Refining Co., Ltd. Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
82
Very Positive
Cash Flow
66
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 32.83B | 32.98B | 32.52B | 31.55B | 27.95B | 25.13B |
| Gross Profit | 6.66B | 6.51B | 6.19B | 4.65B | 3.59B | 3.79B |
| EBITDA | 3.79B | 3.65B | 3.44B | 2.07B | 1.25B | 1.46B |
| Net Income | 2.85B | 2.77B | 2.14B | 1.48B | 498.00M | 609.00M |
Balance Sheet | ||||||
| Total Assets | 33.59B | 31.81B | 29.41B | 27.51B | 25.89B | 26.13B |
| Cash, Cash Equivalents and Short-Term Investments | 2.17B | 2.89B | 3.31B | 2.31B | 2.21B | 3.53B |
| Total Debt | 6.69B | 6.73B | 8.25B | 10.17B | 11.83B | 13.08B |
| Total Liabilities | 11.58B | 11.21B | 12.79B | 13.79B | 14.86B | 15.75B |
| Stockholders Equity | 22.00B | 20.60B | 16.62B | 13.71B | 11.03B | 10.38B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 1.81B | 3.15B | 1.83B | 150.00M | 591.00M |
| Operating Cash Flow | 0.00 | 2.66B | 3.70B | 2.11B | 447.00M | 1.08B |
| Investing Cash Flow | 0.00 | -1.13B | -520.00M | -227.00M | -374.00M | -711.00M |
| Financing Cash Flow | 0.00 | -1.93B | -2.17B | -1.79B | -1.40B | -1.74B |
Ensuiko Sugar Refining Co., Ltd. Technical Analysis
Neutral
529.00
Price Trends
453.58
Positive
455.87
Positive
490.68
Negative
Market Momentum
5.98
Positive
53.51
Neutral
22.96
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:2112, the sentiment is Neutral. The current price of 529 is above the 20-day moving average (MA) of 468.85, above the 50-day MA of 453.58, and above the 200-day MA of 490.68, indicating a neutral trend. The MACD of 5.98 indicates Positive momentum. The RSI at 53.51 is Neutral, neither overbought nor oversold. The STOCH value of 22.96 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for JP:2112.
Ensuiko Sugar Refining Co., Ltd. Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | ¥12.74B | 4.53 | ― | 5.96% | -0.50% | 33.06% | |
71 Outperform | ¥62.57B | 12.75 | ― | 1.68% | 0.16% | ― | |
70 Outperform | ¥34.93B | 10.39 | ― | 2.71% | 0.14% | 27.23% | |
63 Neutral | ¥120.37B | 28.21 | ― | 3.61% | -1.23% | -28.57% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% |
* Consumer Defensive Sector Average
JP:2112
Ensuiko Sugar Refining Co., Ltd.
468.00
83.64
21.76%
JP:2108
Nippon Beet Sugar Manufacturing Co., Ltd.
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JP:2109
Mitsui DM Sugar Holdings Co.Ltd
3,850.00
646.05
20.16%
JP:2114
Fuji Nihon Seito Corporation
680.00
120.83
21.61%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.