KOIKE-YA Inc. (2226) AI Stock Analysis

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KOIKE-YA Inc.

(TSE/TYO:2226)

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Rating:69Neutral

Price Target:JPY 5,338.00▲(12.62% Upside)

Action:downgraded

Date:08/18/26

KOIKE-YA's moderate overall score is driven primarily by its strong bullish technical trend and steady revenue growth. However, its fundamental upside is limited by rising debt levels and constrained free cash flow due to heavy capital investments. Valuation remains fair, presenting a balanced risk-reward profile.

Positive Factors

Steady revenue growth and improving profitabilitySustained revenue growth alongside improved EBIT and net margins indicates stronger operating execution and product demand. This provides a durable earnings foundation, although future gains will depend on preserving pricing and controlling input costs.

Negative Factors

Persistently negative free cash flowNegative free cash flow means investment and other uses are currently funded from cash balances or additional borrowing rather than internally generated funds. If sustained, this can constrain reinvestment, dividends and balance-sheet flexibility.

KOIKE-YA Inc. (2226) vs. iShares MSCI Japan ETF (EWJ)

Market Cap: JPY 50.57B
Dividend Yield: 1.16%
Average Volume (3M): 4,265
Price to Earnings (P/E): 18.2
Beta (1Y): 0.18
Revenue Growth: 3.30%
EPS Growth: 25.95%
Country: Japan
Employees: 1,172
Sector: Consumer Defensive
Sector Strength: 62
Industry: Packaged Foods

KOIKE-YA Inc. Business Overview & Revenue Model

Company Description

KOIKE-YA Inc. specializes in the development, manufacturing, and global distribution of snack and health food products, prominently featuring popular lines such as KARAMUCHO and SCORN. Their diverse portfolio includes potato chips, tortilla chips, an...

How the Company Makes Money

KOIKE-YA makes money primarily by selling branded snack products (notably potato chips and other savory snacks) to customers in the consumer packaged goods supply chain. Its core revenue stream is product sales in Japan via wholesale/retail distribut...

KOIKE-YA Inc. Financial Statement Overview

Summary

KOIKE-YA exhibits steady top-line expansion and reliable profit growth. However, this is partially offset by rising debt levels and negative free cash flow driven by elevated capital expenditures.

Income Statement

80Positive

Balance Sheet

70Positive

Cash Flow

55Neutral

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Jun 2021
Income Statement
Total Revenue	61.46B	61.16B	59.38B	54.83B	44.57B	40.53B
Gross Profit	19.36B	19.09B	19.32B	18.17B	13.14B	12.15B
EBITDA	5.88B	5.46B	5.36B	4.90B	3.01B	2.68B
Net Income	2.88B	2.60B	2.59B	2.21B	1.16B	1.01B
Balance Sheet
Total Assets	46.83B	47.36B	39.10B	36.43B	29.59B	27.12B
Cash, Cash Equivalents and Short-Term Investments	4.55B	4.36B	3.57B	6.86B	4.51B	3.37B
Total Debt	8.29B	11.05B	6.09B	1.08B	1.53B	2.50B
Total Liabilities	25.04B	25.73B	19.69B	19.06B	14.40B	12.89B
Stockholders Equity	21.38B	21.29B	19.07B	17.11B	15.05B	14.03B
Cash Flow
Free Cash Flow	0	-2.98B	-6.92B	3.28B	1.95B	-893.00M
Operating Cash Flow	0	4.00B	-150.00M	5.61B	2.57B	219.00M
Investing Cash Flow	0	-6.93B	-6.76B	-2.44B	-655.00M	-643.00M
Financing Cash Flow	0	3.61B	3.67B	-873.00M	-798.00M	-499.00M

KOIKE-YA Inc. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (62)

Financial Indicators

JP:2226 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
JP:2229	73Outperform	JPY 378.19B	22.15	8.58%	2.04%	5.69%	6.85%
JP:2220	70Outperform	JPY 88.46B	22.14	―	1.63%	17.28%	-85.71%
JP:2226	69Neutral	JPY 50.57B	18.18	―	1.16%	3.30%	25.95%
JP:2269	66Neutral	JPY 1.22T	28.16	5.52%	2.43%	3.21%	-6.16%
Sector *	62Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
JP:2206	58Neutral	JPY 331.95B	57.70	2.03%	1.86%	6.48%	-20.29%
JP:2897	56Neutral	JPY 876.71B	19.02	8.64%	2.35%	6.72%	-5.78%

* Consumer Defensive Sector Average

Performance Comparison

JP:2226 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
JP:2226	KOIKE-YA Inc.	4740.00	203.77	4.49%
JP:2229	CALBEE	3228.00	319.26	10.98%
JP:2269	Meiji Holdings Co	4428.00	1324.81	42.69%
JP:2897	Nissin Foods Holdings Co	2972.50	167.23	5.96%
JP:2206	Ezaki Glico Co., Ltd.	5117.00	-121.41	-2.32%
JP:2220	Kameda Seika Co., Ltd.	1346.00	59.25	4.60%

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.

Date of analysis: Aug 18, 2026

KOIKE-YA Inc. AI Stock Analysis