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Employees: 799
Size Nitto Fuji Flour Milling (2003.T) is a Japan Consumer Staples company (Food: Specialty/Candy) with a market value of $472M, the 1106th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥1,999 on 6 Nov 2026.
Performance Over six months the shares gained 13.9%, against -8.5% for the median peer and +1.8% for the Japan market (cap-weighted) — 5th highest of 21 in its peer set.
Growth Revenue fell 0.1% over the last twelve months (peer median +7.8%); the operating margin is 5.6% (peer median 5.9%).
Valuation It trades at 1.0× enterprise value to sales against a peer median of 1.2× (10th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about 3% a year for seven years (Req g). Recent delivered growth is +5%, so the hurdle is -2 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 0.8 points above its cost of capital (5.0% WACC).
Next results Next results expected around 3 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥72.9B | ¥72.8B | ¥72.3B | ¥72.6B | ¥69.5B |
| Revenue growth | — | +1% | 0% | +4% | — |
| Gross profit | ¥17.4B | ¥16.8B | ¥17.2B | ¥16.6B | ¥15.9B |
| EBITDA | ¥5.83B | ¥5.58B | ¥6.76B | ¥6.75B | ¥6.72B |
| Net income | ¥3.66B | ¥3.32B | ¥3.55B | ¥4.24B | ¥3.96B |
| Free cash flow | n/a | ¥3.06B | ¥2.39B | ¥3.25B | -¥307M |
| Capital expenditure | n/a | ¥1.63B | ¥2.69B | ¥3.29B | ¥2.62B |
| Total debt | ¥400M | ¥400M | ¥420M | ¥400M | ¥500M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 2003.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +7.4% | -2.2% | 2nd highest of 21 |
| 6-month return | +13.9% | -8.5% | 5th highest of 21 |
| Distance from 52-week high | -2.0% | -24.9% | highest of 21 |
| Revenue growth (TTM) | -0.1% | +7.8% | 4th lowest of 21 |
| Operating margin | 5.6% | 5.9% | 9th lowest of 21 |
| EV / Sales | 1.0× | 1.2× | 10th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | 3.0% | 2.9% | 9th least demanding of 17 |
| Growth delivered (Del g) | +5.2% | +6.6% | 7th lowest of 17 |
| Hurdle (Req g minus delivered) | -2.2 pp | -6.6 pp | 8th most demanding of 17 |
| ROIC minus cost of capital | +0.8 pp | +0.4 pp | 10th highest of 21 |
| EV / EBITDA | 12.6× | 6.1× | 3rd most expensive of 12 |
| Net debt / EBITDA | -0.1× | 0.6× | 4th least indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Nitto Fuji Flour Milling 2003.T | Japan | $472M | +14% | 0% | 6% | 1.0× | 3.0% | +5.2% |
| Ganso 603886.SS | China | $464M | +1% | +5% | 6% | 0.8× | -11.0% | -1.9% |
| Daesang 001680.KS | South Korea | $459M | -16% | +2% | 4% | 0.4× | -5.6% | +7.2% |
| Bourbon 2208.T | Japan | $451M | +3% | +7% | 6% | 0.5× | -12.1% | +0.3% |
| Zhengzhou Qianweiyangchu Food 001215.SZ | China | $451M | -34% | +13% | 5% | 1.3× | 13.9% | +15.0% |
| Baolingbao Biology 002286.SZ | China | $500M | -15% | +9% | 6% | 1.2× | 10.0% | +6.0% |
| Petpal Pet Nutrition Technology 300673.SZ | China | $444M | -26% | +2% | 6% | 2.1× | 7.5% | +1.6% |
| Yasho Industries YASHO.NS | India | $441M | +122% | +35% | 14% | 4.4× | 33.4% | +17.7% |
| Shoei Foods 8079.T | Japan | $435M | +1% | +8% | 4% | 0.6× | n/a | n/a |
| Riken Vitamin 4526.T | Japan | $516M | +29% | +3% | 7% | 0.7× | -3.9% | +4.4% |
| Gourmet Master 2723.TW | Taiwan | $431M | +19% | -11% | 5% | 0.8× | 0.9% | -1.7% |
| Kameda Seika 2220.T | Japan | $525M | -8% | +17% | 6% | 0.8× | 0.3% | +6.0% |
| Vadilal Industries VADILALIND.NS | India | $541M | +53% | +31% | 16% | 3.0× | 17.3% | +26.5% |
| Kunshan Asia Aroma 301220.SZ | China | $413M | -35% | +13% | 6% | 2.6× | 10.8% | +12.4% |
| Tianshui Zhongxing Bio-Technology 002772.SZ | China | $410M | -54% | +12% | 14% | 1.9× | n/a | n/a |
| QAF Q01.SI | Singapore | $408M | -10% | 0% | 6% | 0.5× | -10.6% | +2.4% |
| Qingdao Richen Food 603755.SS | China | $407M | -5% | +11% | 17% | 6.3× | 20.1% | +12.3% |
| Ganyuan Foods 002991.SZ | China | $552M | -22% | 0% | 10% | 1.4× | 4.8% | +12.4% |
| Haoxiangni Health Food 002582.SZ | China | $558M | -21% | -17% | -11% | 2.9× | n/a | n/a |
| Chalkis Health Industry 000972.SZ | China | $397M | -9% | +17% | -52% | 6.9× | -6.8% | +89.3% |
| Fujiya 2211.T | Japan | $393M | -1% | +6% | 1% | 0.6× | n/a | n/a |