Shinobu Foods Products Co., Ltd. (2903) AI Stock Analysis

Shinobu Foods Products Co., Ltd.

(TSE/TYO:2903)

Select Model

Rating:68Neutral

Price Target:JPY 1,710.00▲(13.92% Upside)

Action:downgraded

Date:10/14/26

The overall score of 68 reflects a company with solid financial health, marked by a strong balance sheet and consistent cash generation, which are the most significant positive factors. However, the score is tempered by a mixed technical outlook with bearish momentum signals and relatively low net profit margins. The low P/E ratio and moderate dividend yield provide some valuation support, but do not fully offset the technical headwinds.

Positive Factors

Steady Revenue GrowthSteady revenue growth since 2021 indicates improving top-line momentum and sustained demand for the company’s products. If maintained, this provides a durable base for operating leverage, reinvestment, and further earnings recovery over the next several quarters.

Negative Factors

Thin, Volatile MarginsAlthough profitability has recovered from the 2023 trough, thin and volatile margins leave limited room to absorb cost increases or revenue pressure. This can make earnings less resilient and may constrain the company’s ability to convert growth into consistently stronger returns.

Shinobu Foods Products Co., Ltd. (2903) vs. iShares MSCI Japan ETF (EWJ)

Market Cap: JPY 16.00B
Dividend Yield: 2.27%
Average Volume (3M): 2,634
Price to Earnings (P/E): 10.3
Beta (1Y): 0.22
Revenue Growth: 5.33%
EPS Growth: 72.51%
Country: Japan
Employees: 571
Sector: Consumer Defensive
Sector Strength: 62
Industry: Packaged Foods

Shinobu Foods Products Co., Ltd. Business Overview & Revenue Model

Company Description

Shinobu Foods Products Co., Ltd. operates in Japan, focusing on the production and sale of various prepared rice-based items. Their diverse product portfolio includes convenience meals such as pre-packaged lunch boxes, traditional rice balls, and sus...

Shinobu Foods Products Co., Ltd. Financial Statement Overview

Summary

Shinobu Foods shows consistent revenue growth and improving profitability, with net margins rising to 2.7%. The balance sheet is a key strength, with debt-to-equity reduced to a conservative 0.28 and ROE at 11.2%. Robust operating cash flow, nearly double net income, supports financial stability. The overall profile is healthy, though net margins remain relatively low.

Income Statement

70Positive

Balance Sheet

85Very Positive

Cash Flow

75Positive

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	62.19B	61.97B	57.65B	54.83B	51.05B	48.65B
Gross Profit	8.98B	9.00B	8.54B	8.01B	7.06B	6.58B
EBITDA	3.81B	3.93B	2.97B	3.20B	2.05B	3.09B
Net Income	1.62B	1.70B	997.00M	1.17B	103.00M	1.08B
Balance Sheet
Total Assets	28.20B	28.40B	29.71B	30.47B	30.40B	30.96B
Cash, Cash Equivalents and Short-Term Investments	4.36B	4.39B	6.28B	6.98B	6.63B	5.48B
Total Debt	4.92B	4.29B	5.82B	7.26B	8.54B	9.15B
Total Liabilities	13.24B	13.22B	14.57B	15.51B	16.37B	16.77B
Stockholders Equity	14.96B	15.17B	15.13B	14.95B	14.03B	14.19B
Cash Flow
Free Cash Flow	0	1.59B	1.60B	2.01B	2.02B	1.71B
Operating Cash Flow	0	3.37B	3.21B	3.67B	2.97B	2.59B
Investing Cash Flow	0	-1.80B	-1.67B	-1.70B	-940.00M	-998.00M
Financing Cash Flow	0	-3.46B	-2.25B	-1.62B	-879.00M	-792.00M

Shinobu Foods Products Co., Ltd. Technical Analysis

Technical Analysis SentimentNegative

Last Price1501.00

Price Trends

50DMA1563.66Negative

100DMA1559.07Negative

200DMA1621.42Negative

Market Momentum

MACD-12.80Positive

RSI40.13Neutral

STOCH4.00Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:2903, the sentiment is Negative. The current price of 1501.00 is below the 20-day moving average (MA) of 1535.90, below the 50-day MA of 1563.66, and below the 200-day MA of 1621.42, indicating a bearish trend. The MACD of -12.80 indicates Positive momentum. The RSI at 40.13 is Neutral, neither overbought nor oversold. The STOCH value of 4.00 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:2903.

Shinobu Foods Products Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (62)

Financial Indicators

JP:2903 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
JP:2831	71Outperform	JPY 33.64B	10.04	―	1.96%	2.00%	35.75%
JP:2903	68Neutral	JPY 16.39B	10.29	―	2.27%	5.33%	72.51%
Sector *	62Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
JP:2910	59Neutral	JPY 35.66B	169.32	―	1.79%	0.59%	-50.98%
JP:2923	52Neutral	JPY 34.65B	18.89	―	1.09%	6.18%	-35.54%
JP:2904	46Neutral	JPY 13.88B	42.26	―	1.86%	2.79%	-56.06%
JP:2901	37Underperform	JPY 1.97B	25.91	―	5.80%	―	―

* Consumer Defensive Sector Average

Performance Comparison

JP:2903 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
JP:2903	Shinobu Foods Products Co., Ltd.	1501.00	56.55	3.91%
JP:2831	Hagoromo Foods Corporation	3575.00	361.19	11.24%
JP:2901	Ishigaki Foods Co., Ltd.	69.00	-513.86	-88.16%
JP:2904	Ichimasa Kamaboko Co., Ltd.	753.00	20.25	2.76%
JP:2910	Rock Field Co., Ltd.	1341.00	-51.47	-3.70%
JP:2923	Sato Foods Co., Ltd.	6870.00	-848.52	-10.99%

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: Oct 14, 2026

Shinobu Foods Products Co., Ltd. AI Stock Analysis