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Ichimasa Kamaboko Co., Ltd.
(2904)
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Rating:49Neutral
Price Target:
¥753.00
▲(1.07% Upside)
Action:Reiterated
Date:08/10/26
The score is held back primarily by weakening profitability and inconsistent free cash flow despite higher recent revenue, which reduces financial flexibility. Technical indicators also show soft momentum (negative MACD and sub-50 RSI, with price below key short-term moving averages). Valuation is a secondary drag due to a relatively high P/E with only a modest dividend yield.
Positive Factors
Revenue Growth Momentum
A material revenue increase in 2026 shows the company can expand top-line volume or capture incremental demand. Sustained higher sales provide a base to scale fixed-cost absorption and invest in product development or distribution, supporting multi-month recovery if margins stabilize.
Negative Factors
Margin Compression
A sustained drop in gross margin materially erodes profitability and operating leverage. If higher input or mix pressures persist, the company will have less capacity to fund reinvestment, service debt, or restore payouts, increasing execution risk across the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth Momentum
A material revenue increase in 2026 shows the company can expand top-line volume or capture incremental demand. Sustained higher sales provide a base to scale fixed-cost absorption and invest in product development or distribution, supporting multi-month recovery if margins stabilize.
Read all positive factors
Ichimasa Kamaboko Co., Ltd. (2904) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥13.92B
Dividend Yield1.85%
Average Volume (3M)4.51K
Price to Earnings (P/E)42.4
Beta (1Y)<0.01
Revenue Growth2.79%
EPS Growth-56.09%
CountryJP
Employees928
SectorConsumer Defensive
Sector Strength42
IndustryPackaged Foods
Share Statistics
EPS (TTM)17.82
Shares Outstanding18,590,000
10 Day Avg. Volume3,190
30 Day Avg. Volume4,506
Financial Highlights & Ratios
PEG Ratio-0.76
Price to Book (P/B)0.93
Price to Sales (P/S)0.39
P/FCF Ratio38.95
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
Ichimasa Kamaboko Co., Ltd. Business Overview & Revenue Model
Company Description
Ichimasa Kamaboko Co., Ltd. is a Japan-based company that manufactures and sells fish-paste products, prepared side dishes, and mushrooms. The company is engaged in the production of items such as imitation crab sticks, kamaboko, and other process...
How the Company Makes Money
Ichimasa Kamaboko makes money mainly by manufacturing and selling processed food products, with revenue recognized from product shipments/sales to wholesalers, retailers, and food-service customers. The core revenue stream is sales of surimi-based...
Ichimasa Kamaboko Co., Ltd. Financial Statement Overview
Summary
Income Statement
54
Neutral
Balance Sheet
58
Neutral
Cash Flow
43
Neutral
| Breakdown | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 35.54B | 34.58B | 34.49B | 32.81B | 31.64B |
| Gross Profit | 6.62B | 6.99B | 7.11B | 5.38B | 6.03B |
| EBITDA | 2.52B | 2.78B | 2.86B | 1.31B | 1.90B |
| Net Income | 326.21M | 746.87M | 957.48M | 84.12M | 565.36M |
Balance Sheet | |||||
| Total Assets | 30.89B | 30.41B | 31.39B | 31.12B | 25.30B |
| Cash, Cash Equivalents and Short-Term Investments | 1.30B | 1.10B | 3.22B | 1.41B | 2.32B |
| Total Debt | 10.02B | 9.94B | 10.24B | 11.50B | 5.61B |
| Total Liabilities | 15.85B | 15.50B | 16.89B | 17.54B | 11.43B |
| Stockholders Equity | 14.98B | 14.83B | 14.50B | 13.58B | 13.86B |
Cash Flow | |||||
| Free Cash Flow | 357.93M | -996.47M | 3.11B | -5.54B | -667.36M |
| Operating Cash Flow | 2.19B | 1.56B | 5.17B | -1.03B | 1.81B |
| Investing Cash Flow | -1.79B | -2.62B | -1.77B | -3.98B | -2.26B |
| Financing Cash Flow | -208.82M | -1.05B | -1.59B | 4.09B | 1.44B |
Ichimasa Kamaboko Co., Ltd. Technical Analysis
Positive
745.00
Price Trends
756.56
Negative
756.78
Negative
747.13
Positive
Market Momentum
-0.63
Negative
51.00
Neutral
38.10
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:2904, the sentiment is Positive. The current price of 745 is below the 20-day moving average (MA) of 753.10, below the 50-day MA of 756.56, and below the 200-day MA of 747.13, indicating a neutral trend. The MACD of -0.63 indicates Negative momentum. The RSI at 51.00 is Neutral, neither overbought nor oversold. The STOCH value of 38.10 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:2904.
Ichimasa Kamaboko Co., Ltd. Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | ¥34.44B | 10.28 | ― | 1.91% | 2.00% | 35.75% | |
63 Neutral | ¥355.77B | 12.47 | 9.78% | 2.74% | 8.09% | 9.61% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
61 Neutral | ¥25.68B | 28.61 | ― | 1.78% | -0.27% | -62.67% | |
52 Neutral | ¥4.32B | 20.40 | ― | 2.65% | ― | ― | |
52 Neutral | ¥36.21B | 19.74 | ― | 1.04% | 6.18% | -35.54% | |
49 Neutral | ¥13.92B | 42.37 | ― | 1.85% | 2.79% | -56.09% |
* Consumer Defensive Sector Average
JP:2904
Ichimasa Kamaboko Co., Ltd.
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2.49%
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Ichimasa Kamaboko Co., Ltd. Corporate Events
Ichimasa Kamaboko Sees Profit Decline Despite Higher Sales, Keeps Dividend and Eyes Margin Recovery
May 18, 2026
Ichimasa Kamaboko reported consolidated net sales of ¥28.17 billion for the nine months ended March 31, 2026, a 2.6% increase year on year, while operating profit fell 15% to ¥973 million and profit attributable to owners of parent dropp...
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.