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Makes dairy products, chocolate/confectionery and pharmaceuticals under the Meiji brand.
Makes dairy products, chocolate/confectionery and pharmaceuticals under the Meiji brand.
Formed in 2009 by combining the dairy and confectionery group Meiji with the drug maker Meiji Seika, the group earns most from food, including milk, yogurt and infant formula, with pharmaceuticals the smaller part. Most sales are in Japan.
In one line: A mix of Kraft Heinz plus a pharma arm.
Moat: narrow (brand, distribution). Strong dairy/confectionery brand recognition and nationwide retail distribution.
Headquarters: Tokyo, Japan · Founded: 2011 · Employees: 17,103
Size Meiji (2269.T) is a Japan Consumer Staples company (Food: Specialty/Candy) with a market value of $7.35B, the 173rd largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥4,217 on 6 Nov 2026.
Performance Over six months the shares gained 13.7%, against +0.5% for the median peer and +1.8% for the Japan market (cap-weighted) — 5th highest of 21 in its peer set.
Growth Revenue grew 3.5% over the last twelve months (peer median +6.8%); the operating margin is 8.3% (peer median 11.0%).
Valuation It trades at 17.2× forward earnings against a peer median of 16.2× (10th most expensive of 21).
Capital Return on invested capital runs 2.5 points above its cost of capital (5.0% WACC).
Next results Next results expected around 12 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥1.19T | ¥1.17T | ¥1.15T | ¥1.11T | ¥1.06T |
| Revenue growth | — | +2% | +4% | +4% | — |
| Gross profit | ¥368B | ¥369B | ¥349B | ¥337B | ¥307B |
| EBITDA | ¥152B | ¥148B | ¥140B | ¥140B | ¥129B |
| Net income | ¥40.3B | ¥35.1B | ¥50.8B | ¥50.7B | ¥69.4B |
| Free cash flow | -¥27.7B | -¥47.2B | ¥12.4B | ¥54.5B | ¥16.2B |
| Capital expenditure | ¥104B | ¥104B | ¥56.6B | ¥53.4B | ¥72.2B |
| Total debt | ¥138B | ¥117B | ¥52.1B | ¥54.8B | ¥69.2B |
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.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Meiji 2269.T | $7.35B | +14% | +4% | 8% | 17.2× | n/a |
| Morinaga & 2201.T | $1.28B | -8% | +3% | 9% | 12.3× | -5.7% |
| Yakult Honsha 2267.T | $5.15B | +3% | -1% | 9% | 17.0× | n/a |
| Nestle NESN.SW | $266B | +11% | -2% | 16% | 19.0× | 1.3% |
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 | 2269.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +2.1% | +6.5% | 7th lowest of 21 |
| 6-month return | +13.7% | +0.5% | 5th highest of 21 |
| Distance from 52-week high | -8.5% | -18.2% | 4th highest of 21 |
| Revenue growth (TTM) | +3.5% | +6.8% | 6th lowest of 21 |
| Operating margin | 8.3% | 11.0% | 4th lowest of 21 |
| Forward P/E | 17.2× | 16.2× | 10th most expensive of 21 |
| ROIC minus cost of capital | +2.5 pp | +3.6 pp | 9th lowest of 21 |
| EV / EBITDA | 8.2× | 11.2× | 5th cheapest of 19 |
| Net debt / EBITDA | 0.3× | 1.6× | 7th least indebted of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Meiji 2269.T | Japan | $7.35B | +14% | +4% | 8% | 17.2× | n/a | n/a |
| Lamb Weston LW | United States | $7.61B | +31% | +3% | 10% | 16.6× | 4.0% | +12.5% |
| Campbell's CPB | United States | $6.90B | +11% | -5% | 11% | 13.7× | -3.6% | +2.8% |
| Darling Ingredients DAR | United States | $7.92B | -20% | +16% | 9% | 7.3× | 9.0% | +11.4% |
| Toyo Suisan Kaisha 2875.T | Japan | $6.74B | -4% | +7% | 17% | 14.5× | -5.0% | +9.5% |
| Barry Callebaut BARN.SW | Switzerland | $8.33B | +5% | +9% | 5% | 23.7× | -8.4% | +16.5% |
| Ingredion INGR | United States | $5.78B | -15% | -1% | 12% | 9.7× | -7.8% | +3.8% |
| Nissin Foods 2897.T | Japan | $5.73B | +9% | +5% | 6% | 17.9× | n/a | n/a |
| Balchem BCPC | United States | $5.54B | +8% | +9% | 22% | 30.9× | 14.5% | +8.1% |
| Yamazaki Baking 2212.T | Japan | $5.08B | +21% | +5% | 5% | 18.0× | -3.3% | +5.3% |
| Sensient Technologies SXT | United States | $5.07B | +1% | +10% | 15% | 25.0× | n/a | n/a |
| Orkla ORK.OL | Norway | $10.8B | -6% | 0% | 10% | 15.5× | -1.1% | +8.7% |
| Angel Yeast 600298.SS | China | $4.97B | +2% | +15% | 11% | 19.1× | 4.1% | +13.4% |
| Kikkoman 2801.T | Japan | $10.9B | +24% | +9% | 11% | 24.8× | 8.8% | +11.2% |
| Aak AAK.ST | Sweden | $4.88B | -30% | -1% | 10% | 13.6× | -6.0% | +10.5% |
| Tata Consumer Products TATACONSUM.NS | India | $11.4B | -6% | +15% | 11% | 55.5× | 42.8% | +11.8% |
| Britannia Industries BRITANNIA.NS | India | $12.1B | -18% | +7% | 17% | 41.7× | 28.9% | +7.8% |
| McCormick & MKC | United States | $13.0B | 0% | +13% | 17% | 15.9× | 3.2% | +4.1% |
| J.M. Smucker Company (The) SJM | United States | $13.9B | +33% | +5% | 19% | 12.9× | -7.1% | +2.5% |
| Anjoy Foods 2648.HK | Hong Kong | $3.83B | -20% | +24% | 12% | 11.6× | -2.9% | +17.5% |
| Post POST | United States | $3.65B | -19% | +6% | 10% | 11.8× | -2.1% | +7.4% |