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Noritake Co.,Limited
(5331)
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Rating:65Neutral
Price Target:
¥3,677.00
▲(0.46% Upside)
Action:Downgraded
Date:08/11/26
The score is mainly held back by weak and volatile cash generation (negative free cash flow in the last two years) despite solid profitability and a strong low-leverage balance sheet. Technical signals are mixed with a generally supportive trend but negative MACD and elevated stochastic. Valuation is a relative positive with a reasonable P/E and moderate dividend yield.
Positive Factors
Low Leverage
The very low debt-to-equity profile gives Noritake financial flexibility and reduces the burden of interest and refinancing costs. Expanding equity further strengthens resilience, allowing the company to support investment and manage cyclical demand without relying heavily on borrowings.
Negative Factors
Negative Free Cash Flow
Negative free cash flow in the two most recent years shows that accounting profits are not consistently translating into cash available for reinvestment, debt reduction, or shareholder returns. If sustained, this can constrain capital allocation and increase dependence on internally managed liquidity.
Read all positive and negative factors
Positive Factors
Negative Factors
Low Leverage
The very low debt-to-equity profile gives Noritake financial flexibility and reduces the burden of interest and refinancing costs. Expanding equity further strengthens resilience, allowing the company to support investment and manage cyclical demand without relying heavily on borrowings.
Read all positive factors
Noritake Co.,Limited (5331) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥190.83B
Dividend Yield2.63%
Average Volume (3M)259.80K
Price to Earnings (P/E)12.1
Beta (1Y)1.25
Revenue Growth9.01%
EPS Growth33.08%
CountryJP
Employees4,901
SectorIndustrials
Sector Strength72
IndustryConglomerates
Share Statistics
EPS (TTM)282.55
Shares Outstanding56,206,997
10 Day Avg. Volume169,490
30 Day Avg. Volume259,796
Financial Highlights & Ratios
PEG Ratio0.93
Price to Book (P/B)1.04
Price to Sales (P/S)1.21
P/FCF Ratio-42.60
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)268.9
Revenue Forecast (FY)¥150.30B
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, c...
How the Company Makes Money
Noritake makes money primarily by manufacturing and selling ceramic-based products and related materials across consumer and industrial markets. Key revenue streams include: (1) Tableware: revenue from the sale of Noritake-branded ceramic/porcelai...
Noritake Co.,Limited Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
86
Very Positive
Cash Flow
38
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 149.14B | 142.91B | 138.18B | 137.91B | 139.49B | 127.64B |
| Gross Profit | 43.32B | 40.97B | 37.28B | 36.51B | 34.03B | 33.74B |
| EBITDA | 25.98B | 25.06B | 22.46B | 20.22B | 17.39B | 16.22B |
| Net Income | 15.62B | 14.18B | 12.94B | 11.48B | 10.02B | 9.07B |
Balance Sheet | ||||||
| Total Assets | 251.99B | 230.08B | 198.31B | 202.07B | 180.59B | 163.56B |
| Cash, Cash Equivalents and Short-Term Investments | 17.53B | 19.57B | 16.61B | 21.34B | 14.60B | 14.17B |
| Total Debt | 38.56B | 13.15B | 6.55B | 2.97B | 12.79B | 6.75B |
| Total Liabilities | 71.05B | 62.33B | 47.45B | 54.10B | 51.62B | 44.76B |
| Stockholders Equity | 179.66B | 166.74B | 149.98B | 147.10B | 128.19B | 118.12B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -4.07B | -4.79B | 16.72B | -5.57B | 8.01B |
| Operating Cash Flow | 0.00 | 10.04B | 2.02B | 22.04B | -213.00M | 12.84B |
| Investing Cash Flow | 0.00 | -7.71B | -5.26B | -3.24B | -3.52B | -5.82B |
| Financing Cash Flow | 0.00 | -1.54B | -3.03B | -13.49B | 3.31B | -5.39B |
Noritake Co.,Limited Technical Analysis
Negative
3660.00
Price Trends
3590.90
Negative
3685.50
Negative
3358.78
Positive
Market Momentum
-48.60
Positive
39.81
Neutral
20.14
Neutral
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 3660 is above the 20-day moving average (MA) of 3605.50, above the 50-day MA of 3590.90, and above the 200-day MA of 3358.78, indicating a neutral trend. The MACD of -48.60 indicates Positive momentum. The RSI at 39.81 is Neutral, neither overbought nor oversold. The STOCH value of 20.14 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
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | ¥623.86B | 18.80 | 14.35% | 1.66% | 2.55% | 13.32% | |
74 Outperform | ¥170.23B | 14.92 | ― | 2.89% | -3.25% | -0.51% | |
66 Neutral | ¥998.80B | 13.53 | 8.93% | 3.23% | 2.53% | 7.19% | |
65 Neutral | ¥190.83B | 12.10 | 9.48% | 2.63% | 9.01% | 33.08% | |
64 Neutral | ¥4.44B | 10.09 | ― | 2.73% | 8.83% | 31.80% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
50 Neutral | ¥318.21B | -7.54 | -10.89% | 3.03% | -14.22% | -282.16% |
* Industrials Sector Average
JP:5331
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Noritake Co.,Limited Corporate Events
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 spl...
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 capaci...
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 ¥...
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.