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Employees: 771
Size Nippon Beet Sugar Manufacturing (2108.T) is a Japan Consumer Staples company (Agricultural Commodities/Milling) with a market value of $391M, the 1198th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥5,200 on 6 Nov 2026.
Performance Over six months the shares gained 23.8%, against -15.0% for the median peer and +1.8% for the Japan market (cap-weighted) — 3rd highest of 21 in its peer set.
Growth Revenue grew 0.2% over the last twelve months (peer median +4.2%); the operating margin is 0.6% (peer median 3.6%).
Valuation It trades at 0.8× enterprise value to sales against a peer median of 1.2× (6th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about 40% a year for seven years (Req g). Recent delivered growth is +5%, so the hurdle is +36 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 5.4 points below its cost of capital (5.8% WACC).
Next results Next results expected around 11 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥67.2B | ¥68.7B | ¥64.8B | ¥69.3B | ¥65.0B |
| Revenue growth | — | +6% | -6% | +7% | — |
| Gross profit | ¥14.2B | ¥13.7B | ¥13.0B | ¥13.6B | ¥15.0B |
| EBITDA | ¥2.69B | ¥2.36B | ¥3.05B | ¥3.54B | ¥3.89B |
| Net income | ¥5.20B | ¥5.03B | ¥2.70B | ¥1.81B | ¥1.26B |
| Free cash flow | n/a | ¥1.26B | -¥8.96B | ¥8.92B | -¥4.50B |
| Capital expenditure | n/a | ¥3.23B | ¥7.05B | ¥4.23B | ¥2.83B |
| Total debt | ¥4.00M | ¥1.51B | ¥9.06B | ¥11.0B | ¥18.8B |
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 | 2108.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -10.8% | -4.5% | 7th lowest of 21 |
| 6-month return | +23.8% | -15.0% | 3rd highest of 21 |
| Distance from 52-week high | -13.0% | -29.7% | 5th highest of 21 |
| Revenue growth (TTM) | +0.2% | +4.2% | 10th lowest of 21 |
| Operating margin | 0.6% | 3.6% | 8th lowest of 20 |
| EV / Sales | 0.8× | 1.2× | 6th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | 40.4% | 7.5% | most demanding of 13 |
| Growth delivered (Del g) | +4.6% | +3.6% | 6th highest of 13 |
| Hurdle (Req g minus delivered) | +35.8 pp | +5.2 pp | most demanding of 13 |
| ROIC minus cost of capital | -5.4 pp | -4.7 pp | 8th lowest of 20 |
| Net debt / EBITDA | -2.0× | 3.6× | least indebted of 14 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Nippon Beet Sugar Manufacturing 2108.T | Japan | $391M | +24% | 0% | 1% | 0.8× | 40.4% | +4.6% |
| Select Harvests SHV.AX | Australia | $390M | +13% | -6% | -6% | 2.7× | 27.3% | +16.3% |
| Xinjiang Sayram Modern Agriculture 600540.SS | China | $399M | -18% | -4% | n/a | 1.1× | n/a | n/a |
| MGP Ingredients CASK | United States | $380M | +3,438% | -16% | 11% | 1.5× | 2.4% | +6.3% |
| Raisio RAIKV.HE | Finland | $379M | -17% | 0% | 11% | 1.2× | -4.1% | -0.8% |
| Zuming Bean Products 003030.SZ | China | $405M | -2% | +12% | -2% | 1.6× | n/a | n/a |
| Okamura Foods 2938.T | Japan | $377M | -3% | +21% | 9% | 2.0× | n/a | n/a |
| Shanghai Xuerong Bio-Technology 300511.SZ | China | $408M | -46% | +29% | 4% | 1.6× | 0.6% | -1.9% |
| Vital Farms VITL | United States | $409M | +6% | +5% | -3% | 0.7× | n/a | n/a |
| Chubu Shiryo 2053.T | Japan | $375M | +17% | +6% | 3% | 0.2× | -10.0% | +3.2% |
| Dalmia Bharat Sugar & Industries DALMIASUG.NS | India | $409M | +23% | -5% | 7% | 1.1× | 15.7% | +7.7% |
| Shree Renuka Sugars RENUKA.NS | India | $410M | -36% | -10% | 4% | 1.2× | n/a | n/a |
| Kaveri Seed KSCL.NS | India | $373M | -32% | -3% | 18% | 2.5× | n/a | n/a |
| Xinjiang Tianshan Animal Husbandry Bio-engineering 300313.SZ | China | $411M | +32% | +187% | -4% | 7.6× | n/a | n/a |
| Hokuto 1379.T | Japan | $411M | +13% | +4% | 8% | 0.8× | -7.8% | +3.1% |
| Bannari Amman Sugars BANARISUG.NS | India | $423M | -13% | -8% | 6% | 2.4× | 26.7% | +4.9% |
| Shandong Minhe Animal Husbandry Co,.Ltd 002234.SZ | China | $362M | -20% | +5% | -4% | 1.6× | 30.3% | +5.2% |
| Daodaoquan Grain & Oil 002852.SZ | China | $359M | -20% | +5% | 1% | 0.5× | 13.2% | +3.3% |
| Shenzhen Kingsino Technology 002548.SZ | China | $428M | -35% | -2% | -12% | 1.2× | 12.6% | +3.2% |
| Indofood Agri Resources 5JS.SI | Singapore | $355M | -24% | +8% | 18% | 0.9× | -18.0% | +4.0% |
| Tilray Brands TLRY.TO | Canada | $433M | -47% | +17% | -6% | 0.6× | n/a | n/a |