Morozoff Ltd

Morozoff Ltd maintains a strong liquidity position, with cash and equivalents amounting to ¥9.44 billion, representing 36.7% of total assets. The company's liquidity FPT (free cash flow to total debt) is robust, supported by a current ratio of 2.79 and a debt-to-equity ratio of 0.08, indicating a conservative capital structure with minimal leverage.

Profitability metrics show a return on equity (ROE) of 2.55% and a return on assets (ROA) of 1.95%, both below the industry median for food processing firms. The company's operating margin is 7.8%, with net income of ¥500 million on ¥9.31 billion in revenue, suggesting moderate profitability relative to peers.

Geographically, Morozoff's revenue is heavily concentrated in Japan, with no disclosed international operations. The company's business is segmented into food processing, with no material diversification across product lines or markets. This concentration increases exposure to domestic economic conditions and regulatory changes.

Looking ahead, revenue is projected to remain stable, with no significant growth expected in the next fiscal year. The company's operating income is expected to remain flat, with a slight increase in gross profit margin. The outlook is supported by stable demand for processed food products in Japan.

Risk factors include low liquidity and dilution risk, with no immediate filing-based flags detected. The company has a low probability of near-term dilution, with no recent share issuance or shelf registration activity. The conservative capital structure and strong cash position reduce financial risk.

Recent events include the filing of the latest annual report, which disclosed stable financial performance and no material changes in business strategy. The company has not issued any new debt or equity in the past 12 months, and there are no pending regulatory actions or litigation.

Net margin of 5.4% surpasses the cohort median of 4.0%, demonstrating stronger bottom-line profitability than most competitors.

Debt-to-equity ratio of 0.08 is significantly lower than the cohort median of 0.32, reflecting a conservative capital structure.

The company faces low dilution, liquidity, and credit risks, suggesting a stable operational environment with minimal immediate financial threats.

Free cash flow turned negative to -2.8 billion JPY in FY2026, signaling severe cash generation deterioration compared to prior years.

Net income plummeted to 643 million JPY in FY2026, a sharp decline from 1.4 billion JPY in the previous fiscal year.

Long-term debt increased to 2.7 billion JPY in FY2026, reversing a previous downward trend and increasing leverage obligations.

Revenue CAGR of -4.4% over four years indicates a shrinking top line, contrasting with the recent year-over-year growth spike.

Revenue ¥14.02B, +2,5% YoY; Operating income −13,4% YoY.

• ▍Revenue ¥14.02B, +2,5% YoY
• ▍Operating income −13,4% YoY
• ▍Net income −21,0% YoY
• ▍Net margin 6.0%

Revenue ¥6.06B, +3,3% YoY; Operating income −20,6% YoY.

• ▍Revenue ¥6.06B, +3,3% YoY
• ▍Operating income −20,6% YoY
• ▍Net income −236,1% YoY
• ▍Net margin -7.8%

Revenue ¥7.19B, +0,5% YoY; Operating income −47,5% YoY.

• ▍Revenue ¥7.19B, +0,5% YoY
• ▍Operating income −47,5% YoY
• ▍Net income +154,0% YoY
• ▍Net margin 0.1%

Revenue ¥9.00B, −3,4% YoY; Operating income −42,1% YoY.

• ▍Revenue ¥9.00B, −3,4% YoY
• ▍Operating income −42,1% YoY
• ▍Net income −47,2% YoY
• ▍Net margin 2.9%

Revenue ¥13.68B; Operating income ¥1.48B.

• ▍Revenue ¥13.68B
• ▍Operating income ¥1.48B
• ▍Net margin 7.8%

Revenue ¥5.87B; Operating income -¥519.1M.

• ▍Revenue ¥5.87B
• ▍Operating income -¥519.1M
• ▍Net margin -2.4%

Revenue ¥7.16B; Operating income -¥1.1M.

• ▍Revenue ¥7.16B
• ▍Operating income -¥1.1M
• ▍Net margin -0.2%

Revenue ¥9.31B; Operating income ¥728.6M.

• ▍Revenue ¥9.31B
• ▍Operating income ¥728.6M
• ▍Net margin 5.4%

Revenue ¥36.27B, +0,7% YoY; Operating income −36,4% YoY.

• ▍Revenue ¥36.27B, +0,7% YoY
• ▍Operating income −36,4% YoY
• ▍Net income −54,6% YoY
• ▍Free cash flow −563,7% YoY
• ▍Net margin 1.8%

Revenue ¥36.02B, +3,1% YoY; Operating income −30,9% YoY.

• ▍Revenue ¥36.02B, +3,1% YoY
• ▍Operating income −30,9% YoY
• ▍Net income −17,5% YoY
• ▍Free cash flow −56,6% YoY
• ▍Net margin 3.9%

Revenue ¥34.93B, +7,5% YoY; Operating income +0,5% YoY.

• ▍Revenue ¥34.93B, +7,5% YoY
• ▍Operating income +0,5% YoY
• ▍Net income +0,7% YoY
• ▍Free cash flow −10,1% YoY
• ▍Net margin 4.9%

Revenue ¥32.51B, +19,5% YoY; Operating income +42,8% YoY.

• ▍Revenue ¥32.51B, +19,5% YoY
• ▍Operating income +42,8% YoY
• ▍Net income +65,5% YoY
• ▍Free cash flow +26,3% YoY
• ▍Net margin 5.2%