DELICA FOODS HOLDINGS CO. LTD. (3392) AI Stock Analysis

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DELICA FOODS HOLDINGS CO. LTD.

(TSE/TYO:3392)

Select Model

Rating:63Neutral

Price Target:JPY 761.00▲(6.43% Upside)

Action:reiterated

Date:08/17/26

The score is driven primarily by improving financial performance, led by a clear profitability recovery, though constrained by thin margins, still-elevated leverage, and inconsistent cash-flow conversion. Valuation is supportive with a modest P/E and solid dividend yield. Technical signals are the main offset, with the stock trading below major moving averages and weak momentum indicators.

Positive Factors

Consistent Revenue GrowthMulti-year revenue growth indicates expanding demand for the company’s prepared-food offerings and supports a durable operating base. Continued top-line progress can improve scale across centralized production and logistics, creating a foundation for future earnings growth if margins remain controlled.

Negative Factors

Thin and Volatile MarginsThin margins leave limited protection if operating costs rise or demand weakens, making earnings more sensitive to modest changes in pricing, product mix, or cost control. Historical earnings volatility also reduces confidence that the recent profitability improvement will be fully sustained.

DELICA FOODS HOLDINGS CO. LTD. (3392) vs. iShares MSCI Japan ETF (EWJ)

Market Cap: JPY 11.53B
Dividend Yield: 3.47%
Average Volume (3M): 31.43K
Price to Earnings (P/E): 8.9
Beta (1Y): 0.34
Revenue Growth: 2.68%
EPS Growth: -20.41%
Country: Japan
Employees: 850
Sector: Consumer Defensive
Sector Strength: 62
Industry: Food Distribution

DELICA FOODS HOLDINGS CO. LTD. Business Overview & Revenue Model

Company Description

Operating from its Tokyo, Japan headquarters, Delica Foods Holdings Co., Ltd. specializes in the wholesale distribution of vegetables throughout the country. The company's offerings include both whole and pre-cut produce, supplied to a diverse custom...

DELICA FOODS HOLDINGS CO. LTD. Financial Statement Overview

Summary

Income statement strength (72) reflects a meaningful turnaround with improved profitability and margin expansion in 2026, but absolute margins remain thin and earnings have been volatile. The balance sheet (63) shows improving leverage but still debt slightly above equity, limiting flexibility. Cash flow (56) is positive in 2026 but historically choppy with only moderate earnings-to-cash conversion.

Income Statement

72Positive

Balance Sheet

63Positive

Cash Flow

56Neutral

Financial statement breakdown
Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	62.52B	62.22B	58.76B	52.82B	47.93B	31.73B
Gross Profit	16.22B	16.34B	14.36B	13.20B	11.70B	6.22B
EBITDA	3.04B	3.38B	1.98B	2.14B	1.60B	-578.23M
Net Income	1.28B	1.52B	542.01M	1.01B	702.50M	-953.29M
Balance Sheet
Total Assets	29.48B	29.51B	26.64B	29.13B	25.04B	22.81B
Cash, Cash Equivalents and Short-Term Investments	5.89B	5.34B	3.74B	4.27B	5.52B	4.64B
Total Debt	12.11B	10.96B	10.66B	13.79B	11.61B	11.64B
Total Liabilities	19.05B	19.08B	17.61B	20.38B	17.33B	15.70B
Stockholders Equity	10.43B	10.43B	9.03B	8.75B	7.72B	7.12B
Cash Flow
Free Cash Flow	0	1.60B	2.92B	-3.21B	741.61M	-768.70M
Operating Cash Flow	0	3.16B	3.80B	1.69B	1.70B	72.48M
Investing Cash Flow	0	-1.83B	-812.91M	-4.87B	-976.59M	-830.92M
Financing Cash Flow	0	58.97M	-3.42B	1.94B	289.86M	1.14B

DELICA FOODS HOLDINGS CO. LTD. Technical Analysis

Technical Analysis SentimentNegative

Last Price715.00

Price Trends

50DMA758.80Negative

100DMA794.72Negative

200DMA830.52Negative

Market Momentum

MACD-12.72Negative

RSI43.22Neutral

STOCH63.22Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:3392, the sentiment is Negative. The current price of 715.00 is below the 20-day moving average (MA) of 716.00, below the 50-day MA of 758.80, and below the 200-day MA of 830.52, indicating a bearish trend. The MACD of -12.72 indicates Negative momentum. The RSI at 43.22 is Neutral, neither overbought nor oversold. The STOCH value of 63.22 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:3392.

DELICA FOODS HOLDINGS CO. LTD. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (62)

Financial Indicators

JP:3392 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
JP:2819	79Outperform	JPY 24.62B	13.73	―	1.88%	5.46%	36.83%
JP:2831	71Outperform	JPY 33.83B	9.95	―	1.97%	2.00%	35.75%
JP:2922	64Neutral	JPY 24.47B	12.47	―	1.44%	-0.42%	161.86%
JP:3392	63Neutral	JPY 11.72B	8.91	―	3.47%	2.68%	-20.41%
Sector *	62Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
JP:2910	59Neutral	JPY 36.61B	170.83	―	1.78%	0.59%	-50.98%
JP:2923	52Neutral	JPY 34.80B	19.00	―	1.08%	6.18%	-35.54%

* Consumer Defensive Sector Average

Performance Comparison

JP:3392 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
JP:3392	DELICA FOODS HOLDINGS CO. LTD.	715.00	-117.94	-14.16%
JP:2819	Ebara Foods Industry, Inc.	2658.00	233.30	9.62%
JP:2831	Hagoromo Foods Corporation	3560.00	346.19	10.77%
JP:2910	Rock Field Co., Ltd.	1352.00	-56.18	-3.99%
JP:2922	Natori Co., Ltd.	1941.00	28.10	1.47%
JP:2923	Sato Foods Co., Ltd.	6930.00	-1243.72	-15.22%

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 17, 2026

DELICA FOODS HOLDINGS CO. LTD. AI Stock Analysis