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Noritake Co.,Limited (5331) AI Stock Analysis

3 Followers
JP:5331

Noritake Co.,Limited

(TSE/TYO:5331)

Select Model
Rating:64Neutral
Price Target:JPY 3,068.00â–²(2.10% Upside)
Action:reiterated
Date:11/06/26

The overall score is driven primarily by strong balance sheet quality and solid profitability, supported by attractive valuation (low P/E and ~3.84% dividend yield). These positives are tempered by weak technicals (below major moving averages with negative MACD) and, most importantly, recent cash-flow inconsistency with negative free cash flow in 2025–2026.

Positive Factors
Conservative balance sheetVery low leverage and a growing equity base give Noritake meaningful financial flexibility. This supports resilience through operating fluctuations, reduces dependence on external financing, and preserves capacity to invest, sustain dividends, or pursue strategic opportunities over the next several quarters.
Negative Factors
Inconsistent cash conversionRecent earnings have not translated consistently into cash, with operating inflows weakening sharply and free cash flow remaining negative for two consecutive years. If this pattern persists, it could constrain internally funded investment, reduce capital allocation flexibility, and increase execution risk.

Noritake Co.,Limited (5331) vs. iShares MSCI Japan ETF (EWJ)

-20%0%20%40%60%80%100%JP:5331+23.86%EWJ+16.06%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
Market Cap
JPY 170.18B
Dividend Yield
3.66%
Average Volume (3M)
201.92K
Price to Earnings (P/E)
10.0
Beta (1Y)
1.35
Revenue Growth
12.25%
EPS Growth
39.22%
Country
Japan
Employees
4,901
Sector
Industrials
Sector Strength
63
Industry
Conglomerates

Noritake Co.,Limited Business Overview & Revenue Model

Company Description

Noritake Co., Limited operates globally as a producer and distributor of a diverse range of products across industrial, ceramic and material, tabletop, and engineering sectors. Its industrial division furnishes solutions such as abrasive wheels, coat...

Noritake Co.,Limited Financial Statement Overview

Summary

Solid profitability trend and a strong, low-leverage balance sheet support the score, but it is materially offset by highly volatile operating cash flow and negative free cash flow in 2025–2026, indicating inconsistent cash conversion despite reported earnings.

Income Statement

78Positive

Balance Sheet

86Very Positive

Cash Flow

38Negative
Financial statement breakdown
BreakdownTTMMar 2026Mar 2025Mar 2024Mar 2023Mar 2022
Income Statement
Total Revenue153.45B142.91B138.18B137.91B139.49B127.64B
Gross Profit45.12B40.97B37.28B36.51B34.03B33.74B
EBITDA25.91B25.06B22.46B20.22B17.39B16.22B
Net Income16.64B14.18B12.94B11.48B10.02B9.07B
Balance Sheet
Total Assets241.92B230.08B198.31B202.07B180.59B163.56B
Cash, Cash Equivalents and Short-Term Investments17.51B19.57B16.61B21.34B14.60B14.17B
Total Debt12.94B13.15B6.55B2.97B12.79B6.75B
Total Liabilities65.29B62.33B47.45B54.10B51.62B44.76B
Stockholders Equity175.37B166.74B149.98B147.10B128.19B118.12B
Cash Flow
Free Cash Flow0-4.07B-4.79B16.72B-5.57B8.01B
Operating Cash Flow010.04B2.02B22.04B-213.00M12.84B
Investing Cash Flow0-7.71B-5.26B-3.24B-3.52B-5.82B
Financing Cash Flow0-1.54B-3.03B-13.49B3.31B-5.39B

Noritake Co.,Limited Technical Analysis

Technical Analysis SentimentNegative
Last Price3005.00

Price Trends

50DMA3419.75Negative
100DMA3555.05Negative
200DMA3436.74Negative

Market Momentum

MACD-140.84Positive
RSI40.38Neutral
STOCH52.86Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:5331, the sentiment is Negative. The current price of 3005.00 is below the 20-day moving average (MA) of 3189.80, below the 50-day MA of 3419.75, and below the 200-day MA of 3436.74, indicating a bearish trend. The MACD of -140.84 indicates Positive momentum. The RSI at 40.38 is Neutral, neither overbought nor oversold. The STOCH value of 52.86 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:5331.

Noritake Co.,Limited Peers Comparison

Overall Rating

UnderperformOutperform
Sector (63)

Financial Indicators

JP:5331 against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
JP:3106JP:310680OutperformJPY 184.95B11.36―9.34%1.96%32.98%
JP:5393JP:539372OutperformJPY 611.16B16.2715.37%2.04%8.89%23.72%
JP:4204JP:420466NeutralJPY 1.09T14.099.23%2.99%6.37%13.53%
JP:5355JP:535564NeutralJPY 4.44B8.81―2.72%7.56%38.72%
JP:5331JP:533164NeutralJPY 170.18B9.969.77%3.66%12.25%39.22%
Sector *63Neutral$10.79B15.437.44%2.01%2.89%-14.66%
JP:3401JP:340162NeutralJPY 348.21B18.014.89%2.77%-9.20%-28.11%

* Industrials Sector Average

Performance Comparison

0%25%50%75%100%JP:5331JP:5393JP:4204JP:3401JP:3106JP:5355Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
JP:5331 and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
JP:5331Noritake Co.,Limited3005.00549.7522.39%
JP:5393Nichias Corporation3157.001205.8261.80%
JP:4204Sekisui Chemical Co 2710.00187.297.42%
JP:3401Teijin 1806.50576.1846.83%
JP:3106KURABO INDUSTRIES LTD.2133.00778.4157.46%
JP:5355Nippon Crucible Co., Ltd.662.0074.2512.63%

Noritake Co.,Limited Corporate Events

Noritake Raises Fiscal 2027 Forecast on Stronger Ceramic Materials Demand

Nov 5, 2026

Noritake raised its consolidated earnings forecast for the fiscal year ending March 31, 2027, increasing projected net sales to ¥160.0 billion, operating profit to ¥14.5 billion, ordinary profit to ¥18.0 billion, and profit attributable to owners of...

Noritake Reports Strong First-Half Sales and Profit Growth

Nov 5, 2026

Noritake Co., Limited is a diversified Japanese manufacturer serving industrial and consumer markets with tableware, ceramics, abrasives and related engineering products. Its businesses address a broad range of manufacturing and consumer applications...

Noritake Raises Dividend Forecast in Line With Progressive Payout Policy

Aug 7, 2026

Noritake Co., Limited has raised its dividend forecast for the fiscal year ending March 31, 2027, increasing both interim and year-end dividends from 50 yen to 60 yen per share, for a total of 120 yen. This revision follows a two-for-one stock split...

Noritake Upgrades Earnings Outlook on Strong Electronics Materials Demand

Aug 7, 2026

Noritake Co., Limited has raised its consolidated earnings forecasts for the first half of the fiscal year ending March 31, 2027, citing stronger-than-expected performance in its Ceramic & Materials Business. Materials for multilayer ceramic capacito...

Noritake Delivers Strong Q1 FY2026 Rebound and Raises Full-Year Outlook

Aug 7, 2026

Noritake Co., Limited reported a strong rebound in the three months ended June 30, 2026, with net sales rising 18.6% year-on-year to ¥39.7 billion and operating profit surging 84.7% to ¥4.0 billion. Ordinary profit climbed 63.2% to ¥5.4 billion, whil...

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: Nov 06, 2026