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Makes instant noodles (Maruchan brand) and frozen/seafood foods, sold in Japan and the US.
Makes instant noodles (Maruchan brand) and frozen/seafood foods, sold in Japan and the US.
Earns a large share of its profit from Maruchan, its California-based US arm, which makes and sells instant noodles through supermarkets and discount chains. At home, instant noodles, frozen foods and fish products give steadier but lower-profit sales. It also runs a refrigerated warehousing business.
In one line: Japan's Nissin, with a strong US instant-noodle business (Maruchan).
Moat: narrow (brand, distribution). Maruchan is a leading instant-noodle brand with entrenched US retail distribution.
Headquarters: Tokyo, Japan · Founded: 1953 · Employees: 4,717
Size Toyo Suisan Kaisha (2875.T) is a Japan Consumer Staples company (Food: Specialty/Candy) with a market value of $6.74B, the 191st largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥10,405 on 6 Nov 2026.
Performance Over six months the shares fell 3.6%, against +1.2% for the median peer and +1.8% for the Japan market (cap-weighted) — 10th lowest of 21 in its peer set.
Growth Revenue grew 7.1% over the last twelve months (peer median +6.4%); the operating margin is 16.6% (peer median 10.7%).
Valuation It trades at 14.5× forward earnings against a peer median of 17.9× (7th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about -5% a year for seven years (Req g). Recent delivered growth is +10%, so the hurdle is -15 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 14.7 points above its cost of capital (6.3% WACC).
Next results Next results expected around 29 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥555B | ¥537B | ¥512B | ¥489B | ¥436B |
| Revenue growth | — | +5% | +5% | +12% | — |
| Gross profit | ¥173B | ¥164B | ¥152B | ¥139B | ¥107B |
| EBITDA | ¥111B | ¥104B | ¥93.4B | ¥83.6B | ¥56.3B |
| Net income | ¥74.0B | ¥70.2B | ¥63.8B | ¥55.7B | ¥33.1B |
| Free cash flow | n/a | ¥43.3B | ¥49.8B | ¥51.8B | ¥28.7B |
| Capital expenditure | n/a | ¥46.2B | ¥32.1B | ¥19.5B | ¥14.3B |
| Total debt | ¥3.14B | ¥3.28B | ¥3.40B | ¥3.56B | ¥3.75B |
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 |
|---|---|---|---|---|---|---|
| Toyo Suisan Kaisha 2875.T | $6.74B | -4% | +7% | 17% | 14.5× | -5.0% |
| Nissin Foods 2897.T | $5.73B | +9% | +5% | 6% | 17.9× | n/a |
| SamyangFood 003230.KS | $6.70B | -9% | +38% | 23% | 16.3× | -6.6% |
| Nongshim 004370.KS | $1.74B | +8% | +5% | 6% | 11.8× | -16.1% |
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 | 2875.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +5.4% | +8.0% | 10th lowest of 21 |
| 6-month return | -3.6% | +1.2% | 10th lowest of 21 |
| Distance from 52-week high | -16.1% | -18.2% | 10th highest of 21 |
| Revenue growth (TTM) | +7.1% | +6.4% | 10th highest of 21 |
| Operating margin | 16.6% | 10.7% | 4th highest of 21 |
| Forward P/E | 14.5× | 17.9× | 7th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | -5.0% | 4.0% | 4th least demanding of 18 |
| Growth delivered (Del g) | +9.5% | +10.5% | 9th lowest of 18 |
| Hurdle (Req g minus delivered) | -14.5 pp | -8.5 pp | 4th least demanding of 18 |
| ROIC minus cost of capital | +14.7 pp | +3.2 pp | 3rd highest of 21 |
| EV / EBITDA | 7.4× | 11.5× | 3rd cheapest of 19 |
| Net debt / EBITDA | -2.2× | 0.9× | least indebted of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Toyo Suisan Kaisha 2875.T | Japan | $6.74B | -4% | +7% | 17% | 14.5× | -5.0% | +9.5% |
| Campbell's CPB | United States | $6.90B | +11% | -5% | 11% | 13.7× | -3.6% | +2.8% |
| 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% |
| Ingredion INGR | United States | $5.78B | -15% | -1% | 12% | 9.7× | -7.8% | +3.8% |
| Darling Ingredients DAR | United States | $7.92B | -20% | +16% | 9% | 7.3× | 9.0% | +11.4% |
| 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% |
| Barry Callebaut BARN.SW | Switzerland | $8.33B | +5% | +9% | 5% | 23.7× | -8.4% | +16.5% |
| 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 |
| Angel Yeast 600298.SS | China | $4.97B | +2% | +15% | 11% | 19.1× | 4.1% | +13.4% |
| Aak AAK.ST | Sweden | $4.88B | -30% | -1% | 10% | 13.6× | -6.0% | +10.5% |
| Orkla ORK.OL | Norway | $10.8B | -6% | 0% | 10% | 15.5× | -1.1% | +8.7% |
| Kikkoman 2801.T | Japan | $10.9B | +24% | +9% | 11% | 24.8× | 8.8% | +11.2% |
| Tata Consumer Products TATACONSUM.NS | India | $11.4B | -6% | +15% | 11% | 55.5× | 42.8% | +11.8% |
| Anjoy Foods 2648.HK | Hong Kong | $3.83B | -20% | +24% | 12% | 11.6× | -2.9% | +17.5% |
| Britannia Industries BRITANNIA.NS | India | $12.1B | -18% | +7% | 17% | 41.7× | 28.9% | +7.8% |
| Post POST | United States | $3.65B | -19% | +6% | 10% | 11.8× | -2.1% | +7.4% |
| Vita Coco COCO | United States | $3.56B | -13% | +26% | 20% | 30.2× | 8.4% | +14.4% |
| Ashland ASH | United States | $3.51B | +39% | +2% | 7% | 18.0× | 12.3% | -2.5% |