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Noritake Co.,Limited (5331) AI Stock Analysis

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JP:5331

Noritake Co.,Limited

(TSE/TYO:5331)

Select Model
Rating:72Outperform
Price Target:JPY 3,624.00â–²(13.78% Upside)
Action:reiterated
Date:08/11/26

Robust financial performance driven by revenue growth and strong balance sheet provides a solid foundation, enhanced by attractive valuation, though tempered by mixed technical signals indicating short-term caution and cash flow volatility.

Positive Factors
Low Leverage and Financial FlexibilityNoritake’s very low leverage and expanding equity base provide meaningful financial flexibility. This conservative balance-sheet structure can support investment, protect resilience during weaker industrial or consumer conditions, and reduce the burden of debt service on future cash flows.
Negative Factors
Negative Recent Free Cash FlowNegative free cash flow in both of the latest two years shows that reported profitability is not consistently converting into cash available for reinvestment, debt reduction, or shareholder returns. Persistent weak conversion could constrain capital allocation flexibility despite the strong balance sheet.

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

-20%0%20%40%60%80%100%JP:5331+29.21%EWJ+18.01%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
Market Cap
JPY 182.18B
Dividend Yield
3.37%
Average Volume (3M)
213.09K
Price to Earnings (P/E)
11.3
Beta (1Y)
1.30
Revenue Growth
9.01%
EPS Growth
33.08%
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...

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/porcelain t...

Noritake Co.,Limited Financial Statement Overview

Summary

Strong income statement with revenue growth and margin improvements (score 85), solid balance sheet with low debt and asset growth (score 90), offset by volatile cash flows with negative free cash flow in recent years (score 50), resulting in a balanced financial profile with some liquidity concerns.

Income Statement

85Very Positive

Balance Sheet

90Very Positive

Cash Flow

50Neutral
Financial statement breakdown
BreakdownTTMMar 2026Mar 2025Mar 2024Mar 2023Mar 2022
Income Statement
Total Revenue149.14B142.91B138.18B137.91B139.49B127.64B
Gross Profit43.32B40.97B37.28B36.51B34.03B33.74B
EBITDA25.98B25.06B22.46B20.22B17.39B16.22B
Net Income15.62B14.18B12.94B11.48B10.02B9.07B
Balance Sheet
Total Assets251.99B230.08B198.31B202.07B180.59B163.56B
Cash, Cash Equivalents and Short-Term Investments17.53B19.57B16.61B21.34B14.60B14.17B
Total Debt38.56B13.15B6.55B2.97B12.79B6.75B
Total Liabilities71.05B62.33B47.45B54.10B51.62B44.76B
Stockholders Equity179.66B166.74B149.98B147.10B128.19B118.12B
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 Price3185.00

Price Trends

50DMA3503.22Negative
100DMA3616.36Negative
200DMA3435.28Negative

Market Momentum

MACD-86.94Positive
RSI40.85Neutral
STOCH55.69Neutral

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 3185.00 is below the 20-day moving average (MA) of 3435.00, below the 50-day MA of 3503.22, and below the 200-day MA of 3435.28, indicating a bearish trend. The MACD of -86.94 indicates Positive momentum. The RSI at 40.85 is Neutral, neither overbought nor oversold. The STOCH value of 55.69 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:5393JP:539381OutperformJPY 627.46B18.4414.35%1.94%2.55%13.32%
JP:3106JP:310680OutperformJPY 188.81B15.63―14.78%-3.25%-0.51%
JP:5331JP:533172OutperformJPY 182.18B11.349.48%3.37%9.01%33.08%
JP:4204JP:420466NeutralJPY 1.07T13.849.23%3.05%6.37%13.53%
JP:5355JP:535564NeutralJPY 4.49B10.19―2.70%8.83%31.80%
Sector *63Neutral$10.79B15.437.44%2.01%2.89%-14.66%
JP:3401JP:340150NeutralJPY 312.33B-7.39-10.89%3.09%-14.22%-282.16%

* 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.,Limited3185.00816.9234.50%
JP:5393Nichias Corporation3178.001242.5064.20%
JP:4204Sekisui Chemical Co 2646.00136.385.43%
JP:3401Teijin 1605.00417.8435.20%
JP:3106KURABO INDUSTRIES LTD.2232.00892.8966.68%
JP:5355Nippon Crucible Co., Ltd.667.0079.2513.48%

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 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 capa...

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....

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 11, 2026