Morito Co., Ltd. (JP:9837)
:9837
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Morito Co., Ltd.
(9837)
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Rating:77Outperform
Price Target:
¥2,186.00
▲(29.35% Upside)
Action:Downgraded
Date:01/27/26
The score is driven primarily by solid financial quality (improving profitability and very low leverage) and supportive technicals (price above key moving averages with positive MACD). Valuation also helps via a reasonable P/E and ~4% dividend yield, while the key risk factor is inconsistent cash-flow generation and weaker cash conversion in 2025 versus 2024.
Positive Factors
Conservative balance sheet
Morito's balance sheet is conservatively positioned with very low leverage (debt-to-equity ~0.07). Equity has grown steadily and return on equity improved to ~7.3% in 2025, giving the company durable financial flexibility to invest or weather cyclical troughs despite a modest 2025 debt uptick.
Negative Factors
Cash-flow volatility
Free and operating cash flow weakened materially in 2025 versus 2024, indicating higher working-capital needs or timing effects. The company has shown multi-year cash volatility (notably weak in 2022), which can constrain capex, dividends, or buffer for shocks and raises execution risk over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Morito's balance sheet is conservatively positioned with very low leverage (debt-to-equity ~0.07). Equity has grown steadily and return on equity improved to ~7.3% in 2025, giving the company durable financial flexibility to invest or weather cyclical troughs despite a modest 2025 debt uptick.
Read all positive factors
Morito Co., Ltd. (9837) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥41.25B
Dividend Yield4.16%
Average Volume (3M)91.46K
Price to Earnings (P/E)15.1
Beta (1Y)0.72
Revenue Growth25.39%
EPS Growth15.78%
CountryJP
Employees1,509
SectorConsumer Cyclical
Sector Strength84
IndustryApparel - Retail
Share Statistics
EPS (TTM)111.34
Shares Outstanding26,800,000
10 Day Avg. Volume110,300
30 Day Avg. Volume91,456
Financial Highlights & Ratios
PEG Ratio0.98
Price to Book (P/B)1.09
Price to Sales (P/S)0.77
P/FCF Ratio20.35
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)120.2
Revenue Forecast (FY)¥64.00B
Morito Co., Ltd. Business Overview & Revenue Model
Company Description
Morito Co., Ltd. plans, develops, and produces eyelets, hooks, flat fasteners, and other apparels worldwide. It also provides footwear accessories and articles, as well as materials for camera components and vehicle interiors. In addition, the com...
How the Company Makes Money
Morito makes money primarily by selling apparel/footwear trims and related components (e.g., fasteners, tapes, cords, buttons, hooks/snaps) to business customers such as apparel brands, footwear companies, and OEM/ODM manufacturers. Revenue is gen...
Morito Co., Ltd. Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
86
Very Positive
Cash Flow
63
Positive
| Breakdown | Nov 2025 | Nov 2024 | Nov 2023 | Nov 2022 | Nov 2020 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 56.87B | 48.54B | 48.53B | 48.48B | 43.64B |
| Gross Profit | 16.46B | 13.63B | 12.74B | 11.94B | 10.87B |
| EBITDA | 4.72B | 4.13B | 3.74B | 3.35B | 2.77B |
| Net Income | 2.92B | 2.57B | 2.22B | 1.67B | 1.41B |
Balance Sheet | |||||
| Total Assets | 55.76B | 52.77B | 51.75B | 50.57B | 46.23B |
| Cash, Cash Equivalents and Short-Term Investments | 9.40B | 15.46B | 13.01B | 10.40B | 11.10B |
| Total Debt | 2.93B | 1.37B | 1.69B | 3.07B | 2.29B |
| Total Liabilities | 15.93B | 13.50B | 13.30B | 13.89B | 12.32B |
| Stockholders Equity | 39.83B | 39.28B | 38.46B | 36.68B | 33.91B |
Cash Flow | |||||
| Free Cash Flow | 2.14B | 4.10B | 3.91B | 333.63M | 1.86B |
| Operating Cash Flow | 2.99B | 4.62B | 4.40B | 850.63M | 2.64B |
| Investing Cash Flow | -5.02B | 638.66M | 77.81M | -135.11M | -401.71M |
| Financing Cash Flow | -4.14B | -2.68B | -1.98B | -1.92B | -1.38B |
Morito Co., Ltd. Technical Analysis
Neutral
1690.00
Price Trends
1852.83
Negative
1853.79
Negative
1702.61
Positive
Market Momentum
-33.58
Positive
41.28
Neutral
33.13
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:9837, the sentiment is Neutral. The current price of 1690 is below the 20-day moving average (MA) of 1804.30, below the 50-day MA of 1852.83, and below the 200-day MA of 1702.61, indicating a neutral trend. The MACD of -33.58 indicates Positive momentum. The RSI at 41.28 is Neutral, neither overbought nor oversold. The STOCH value of 33.13 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for JP:9837.
Morito Co., Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | ¥41.25B | 15.13 | ― | 4.16% | 25.39% | 15.78% | |
73 Outperform | ¥713.30B | 15.71 | 8.48% | 2.02% | 5.20% | 6.54% | |
73 Outperform | ¥70.36B | 11.15 | ― | 2.73% | 9.07% | 42.66% | |
72 Outperform | ¥38.40B | 12.24 | ― | 3.62% | -3.00% | -23.04% | |
71 Outperform | ¥255.84B | 13.72 | ― | 1.46% | 12.93% | 32.83% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
50 Neutral | ¥25.93B | 70.74 | ― | 4.99% | -11.48% | ― |
* Consumer Cyclical Sector Average
JP:9837
Morito Co., Ltd.
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Morito Co., Ltd. Corporate Events
Morito Advances Share Buyback, Tightening Capital Structure
May 8, 2026
Morito Co., Ltd. has executed a share repurchase program, buying back 117,100 shares of its common stock on the Tokyo Stock Exchange between April 1 and April 30, 2026, at a total cost of ¥227,387,000. The buyback is conducted under the autho...
Morito Releases Q1 FY2026 Financial Presentation and Strategic Overview
Apr 14, 2026
Morito Co., Ltd. has released its presentation materials for the first quarter financial results of the fiscal year ending November 30, 2026. The disclosure outlines segment performance, business topics, shareholder return policies, and references...
Morito Posts Strong Q1 Results and Sticks to Growth Outlook, Lifts Dividend Forecast
Apr 14, 2026
Morito reported strong consolidated results for the first quarter of the fiscal year ending November 30, 2026, with net sales rising 37.2% year on year to ¥16.68 billion and operating profit jumping 68.1% to ¥1.04 billion. Profit attribu...
Morito Advances Share Buyback Program With Additional Treasury Stock Repurchase
Apr 3, 2026
Morito Co., Ltd. has repurchased 117,100 shares of its common stock on the Tokyo Stock Exchange between March 1 and March 31, 2026, at a total cost of ¥227,437,100. The buyback is being executed under a board-approved program authorizing up t...
Morito Continues Share Buyback Under Ongoing Treasury Stock Program
Mar 4, 2026
Morito Co., Ltd. has repurchased 72,600 shares of its common stock on the Tokyo Stock Exchange during February 2026, at a total cost of 139,383,800 yen, under an authorization based on Japan’s Companies Act. This transaction is part of a bro...
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.