2811
KAGOME CO.,LTD.
カゴメ株式会社
Foods
Kagome Co., Ltd. is involved in the manufacturing, purchasing, and sale of vegetable drinks and food products in Japan and internationally. It operates through three segments: Domestic Processed Food Business, International Business, and Others. The Domestic Processed Food Business segment manufactures and sells beverages, preserved food, seasonings, and other products. The International Business segment engages in seed, seedling, and farming product development, processing, and sale activities. The Others segment offers tomato paste, diced tomatoes, carrot juice, frozen Mediterranean vegetables, pizza sauce, barbecue sauce, and tomato ketchup. In addition, the company develops and sells health support services. Further, the company serves processed food manufacturers, food service providers, retail outlets, DtoC, and home meal replacement vendors. Additionally, it sells its products through local distributors and cross-border e-commerce channels. Kagome Co., Ltd. was founded in 1899 and is headquartered in Nagoya, Japan.
Price
¥2,576
Market Cap
¥234.5B
Ent. Value
¥266.5B
Net Debt
−¥32.1B
Shares Out.
91.0M
P / E
113.6×
EV / EBIT
64.6×
P / Book
—
P / NCAV
4.20×
Div. Yield
1.86%
Financials
| Metric |
FY 2025
TDnet |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
|---|---|---|---|---|---|
| Net Sales | ¥67.6B | ¥306.9B | ¥224.7B | ¥205.6B | ¥189.7B |
| Cost of Sales | ¥45.9B | ¥207.1B | ¥144.9B | ¥134.5B | ¥120.1B |
| Gross Profit | ¥21.7B | ¥99.7B | ¥79.8B | ¥71.1B | ¥69.5B |
| SG&A | ¥18.3B | ¥72.9B | ¥62.5B | ¥59.2B | ¥55.8B |
| Operating Income | ¥4.1B | ¥36.2B | ¥17.5B | ¥12.8B | ¥14.0B |
| Non-Operating Income | ¥1.1B | ¥1.1B | ¥959M | ¥903M | ¥592M |
| Non-Operating Expenses | ¥2.6B | ¥3.7B | ¥1.9B | ¥1.1B | ¥722M |
| Ordinary Income | ¥4.8B | — | — | — | — |
| Pre-tax Income | ¥3.6B | ¥33.7B | ¥16.5B | ¥12.6B | ¥13.9B |
| Net Income (owners) | ¥2.1B | ¥25.0B | ¥10.4B | ¥9.1B | ¥9.8B |
| Minority Interest | ¥1.3B | ¥2.2B | ¥1.4B | ¥650M | ¥220M |
| Comprehensive Income | ¥22.2B | ¥42.0B | ¥20.4B | ¥14.9B | ¥13.1B |
| EBITDA | ¥7.2B | ¥48.2B | ¥25.7B | ¥21.0B | ¥21.5B |
| EPS | ¥22.68 | ¥278.52 | ¥121.17 | ¥105.11 | ¥109.37 |
| Shares Outstanding | 91.0M | 93.8M | 86.2M | 86.2M | 88.6M |
| Shares Issued (total) | 91.1M | 93.9M | 94.4M | 94.4M | 94.4M |
| Treasury Shares | 0.1M | 0.1M | 8.1M | 8.1M | 5.8M |
| Metric |
FY 2025
TDnet |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | ¥375.8B | ¥362.4B | ¥265.6B | ¥225.4B | ¥215.2B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Current Assets | ¥216.8B | ¥210.0B | ¥165.5B | ¥129.2B | ¥123.5B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cash & Deposits | ¥26.8B | ¥21.3B | ¥36.0B | ¥21.4B | ¥31.2B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Non-Current Assets | ¥159.0B | ¥152.5B | ¥100.2B | ¥96.2B | ¥91.7B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| PP&E | ¥85.3B | ¥82.6B | ¥60.8B | ¥61.8B | ¥60.2B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill | ¥11.4B | ¥11.5B | ¥799M | ¥757M | ¥687M | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Intangible Assets | ¥36.5B | ¥37.8B | ¥3.0B | ¥3.2B | ¥3.4B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deferred Tax Assets | ¥177M | ¥36M | ¥1.1B | ¥2.2B | ¥1.9B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Liabilities | ¥160.9B | ¥150.8B | ¥129.2B | ¥103.6B | ¥95.7B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Current Liabilities | ¥116.2B | ¥109.2B | ¥100.4B | ¥80.3B | ¥72.9B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ST Debt | ¥58.9B | ¥51.2B | ¥49.9B | ¥34.6B | ¥26.4B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Non-Current Liabilities | ¥44.7B | ¥41.6B | ¥28.8B | ¥23.3B | ¥22.8B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deferred Tax Liab. | ¥10.0B | ¥8.7B | ¥3.7B | ¥3.6B | ¥3.5B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Equity | ¥214.9B | ¥211.6B | ¥136.4B | ¥121.8B | ¥119.5B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Capital Surplus | ¥21.8B | ¥23.3B | ¥22.8B | ¥22.8B | ¥22.8B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Retained Earnings | ¥123.0B | ¥119.7B | ¥98.0B | ¥90.7B | ¥84.2B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Treasury Stock | ¥-787M | ¥-653M | ¥-22.4B | ¥-22.5B | ¥-14.8B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| AOCI | ¥26.6B | ¥23.4B | ¥13.9B | ¥8.1B | ¥5.4B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equity (owners) | ¥190.6B | ¥185.7B | ¥132.3B | ¥119.1B | ¥117.6B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minority Interests | ¥24.3B | ¥25.9B | ¥4.2B | ¥2.7B | ¥2.0B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Interest-Bearing Debt ⓘ | ¥58.9B | ¥51.2B | ¥49.9B | ¥34.6B | ¥26.4B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net Cash ⓘ | ¥-32.1B | ¥-29.9B | ¥-13.9B | ¥-13.2B | ¥4.8B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NCAV ⓘ | ¥55.8B | ¥59.2B | ¥36.2B | ¥25.6B | ¥27.8B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NCAV/Share | ¥614 | ¥631 | ¥420 | ¥297 | ¥314 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| BV/Share | ¥2,094 | ¥1,981 | ¥1,534 | ¥1,381 | ¥1,327 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Metric |
FY 2025
TDnet |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
|---|---|---|---|---|---|
| Operating CF | ¥9.2B | ¥31.7B | ¥4.6B | ¥4.6B | ¥14.8B |
| D&A | ¥3.0B | ¥12.0B | ¥8.2B | ¥8.3B | ¥7.5B |
| Investing CF | ¥-6.0B | ¥-46.3B | ¥-6.1B | ¥-9.5B | ¥-14.2B |
| Financing CF | ¥-14.9B | ¥-571M | ¥15.6B | ¥-5.5B | ¥-27.7B |
| Free Cash Flow | ¥9.2B | ¥31.7B | ¥4.6B | ¥4.6B | ¥14.8B |
| Metric |
FY 2025
TDnet |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
|---|---|---|---|---|---|
| ROE | 1.0% | 14.4% | 8.1% | 7.6% | 8.2% |
| ROA | 0.6% | 8.0% | 4.2% | 4.1% | 4.5% |
| EPS | ¥22.68 | ¥278.52 | ¥121.17 | ¥105.11 | ¥109.37 |
| DPS | ¥48.00 | ¥57.00 | ¥41.00 | ¥38.00 | ¥37.00 |
| FCF/Share | ¥101 | ¥338 | ¥54 | ¥54 | ¥167 |
| NCAV/Share | ¥614 | ¥631 | ¥420 | ¥297 | ¥314 |
| Payout Ratio | 211.6% | 20.5% | 33.8% | 36.2% | 33.8% |
No filings or capital allocation signals recorded for this company.
| # | Shareholder | Shares (thou.) | % of Total |
|---|---|---|---|
| 1 |
The Master Trust Bank of Japan, Ltd. (Trust Account)
日本マスタートラスト信託銀行㈱
|
12,748 | 14.00% |
| 2 | ダイナパック㈱ | 3,879 | 4.26% |
| 3 |
Custody Bank of Japan, Ltd. (Trust Account)
㈱日本カストディ銀行
|
2,429 | 2.66% |
| 4 |
JPMorgan Chase Bank, N.A.
JP MORGAN CHASE BANK 385781 (常任代理人 株式会社みずほ銀行決済営業部）
|
1,239 | 1.36% |
| 5 | カゴメ社員持株会 | 1,042 | 1.14% |
| 6 | カゴメ取引先持株会 | 944 | 1.03% |
| 7 |
State Street Bank and Trust Company
STATE STREET BANK AND TRUST COMPANY 505001 (常任代理人 株式会社みずほ銀行決済営業部）
|
914 | 1.00% |
| 8 | 佐野眞一 | 826 | 0.90% |
| 9 | 野村信託銀行㈱ | 698 | 0.76% |
| 10 | ｉＳｈａｒｅｓ Ｃｏｒｅ ＭＳＣＩ ＥＡＦＥ ＥＴＦ(常任代理人 シティバンク、エヌ・エイ東京支店） | 698 | 0.76% |
as of 2025-12-31
Source: EDINET ↗
Ownership by year — hover bars for detail
Domestic Nominees
16.7%
-0.7% vs 2024
Trust bank custodians — GPIF, pensions, investment trusts
Foreign Custodians
2.4%
-0.9% vs 2024
Sub-custodians for foreign asset managers
Direct / Strategic
8.8%
-0.3% vs 2024
Named entities with disclosed investment intent
Bar = % of shares outstanding · top-10 covers 27.9% · grey = other shareholders · 2025
| Shareholder | Trend | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| 日本マスタートラスト信託銀行 | 14.26% | 13.47% | 14.00% +0.53% | |
| ダイナパック | 4.64% | 4.67% | 4.26% -0.41% | |
| 日本カストディ銀行 | 4.00% | 3.89% | 2.66% -1.23% | |
| JP Morgan ↑ | — | 1.00% | 1.36% +0.36% | |
| カゴメ社員持株会 | 1.04% | 1.07% | 1.14% +0.07% | |
| カゴメ取引先持株会 | 0.99% | 1.02% | 1.03% +0.01% | |
| State Street | 1.09% | 2.27% | 1.00% -1.27% | |
| 佐野眞一 NEW ENTRY | 0.88% | — | 0.90% NEW | |
| 野村信託銀行 NEW ENTRY | — | — | — | 0.76% NEW |
| ｉＳｈａｒｅｓ Ｃｏｒｅ ＭＳＣＩ ＥＡＦＥ ＥＴＦ NEW ENTRY | — | — | — | 0.76% NEW |
| 蟹江利親 last seen 2024 | Exited Top 10 | 1.49% | 1.50% | — |
| ＪＰモルガン証券 last seen 2024 | Exited Top 10 | — | 0.94% | — |
| 佐野滝士 last seen 2023 | Exited Top 10 | 0.62% | — | — |
| 蟹江英吉 last seen 2023 | Exited Top 10 | 1.04% | — | — |
| Concentration (HHI) ⓘ | 249 | 230 | 228 |
3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved
Portfolio Book Value
¥14,054M
+27% since 2023
Holdings
26
+1 new
6 exited
Trend
1 unwinding
vs 2023
| Held Company | FY2025 ¥14,054M total | FY2023 ¥11,063M total | |||
|---|---|---|---|---|---|
| Book Val ¥M | Shares | Book Val ¥M | Shares | ||
|
Kato Sangyo Co., Ltd.
加藤産業㈱
|
4,691 |
731,900
|
3,363 | 731,900 | M |
|
Dynapac Co., Ltd.
ダイナパック㈱
|
3,800 |
-2.1%
↓
1,643,600
|
2,504 | 1,678,600 | M |
| 日清食品有限公司 | 1,922 |
12,994,000
|
1,474 | 12,994,000 | |
|
AEON Co.,Ltd.
イオン㈱
|
685 |
+210.8%
↑
276,692
|
280 | 89,020 | |
|
TOHO Co.,Ltd.
㈱トーホー
|
429 |
110,000
|
305 | 110,000 | M |
|
izumico.,ltd
㈱イズミ
|
336 |
112,200
|
406 | 112,200 | |
|
System Research Co., Ltd.
㈱システムリサーチ
|
324 |
+100.0%
↑
160,000
|
231 | 80,000 | M |
|
VALOR HOLDINGS CO.,LTD.
㈱バローホールディングス
|
311 |
92,300
|
225 | 92,300 | M |
|
ITOCHU-SHOKUHIN Co., Ltd.
伊藤忠食品㈱
|
224 |
20,000
|
158 | 20,000 | M |
|
ALBIS Co.,Ltd.
アルビス㈱
|
222 |
82,800
|
217 | 82,800 | M |
| Tat Gıda Sanayi A.Ş | 217 |
5,071,168
|
823 | 5,071,168 | |
|
Maruichi Sanisho Co., Ltd.
㈱マルイチ産商
|
216 |
+1.2%
↑
181,986
|
231 | 179,783 | M |
|
Central Forest Group, Inc.
セントラルフォレストグループ㈱
|
194 |
+0.8%
↑
70,908
|
138 | 70,352 | |
|
YAMAE GROUP HOLDINGS CO.,LTD.
ヤマエグループホールディングス㈱
|
128 |
+2.2%
↑
50,918
|
190 | 49,811 | M |
|
oie sangyo co.,ltd
尾家産業㈱
|
98 |
42,800
|
74 | 42,800 | M |
|
Satoh&Co.,Ltd.
㈱サトー商会
|
66 |
28,800
|
47 | 28,800 | |
|
YAMANAKA CO.,LTD.
㈱ヤマナカ
|
55 |
106,000
|
73 | 106,000 | M |
|
ISHIZUKA GLASS CO.,LTD.
石塚硝子㈱
|
44 |
13,800
|
46 | 13,800 | M |
|
ARCS COMPANY,LIMITED
㈱アークス
|
38 |
11,500
|
31 | 11,500 | |
|
Maxvalu Tokai Co., Ltd.
マックスバリュ東海㈱
|
26 |
7,021
|
20 | 7,021 | |
|
HEIWADO CO.,LTD.
㈱平和堂
|
17 |
5,900
|
12 | 5,900 | |
|
OOMITSU CO., LTD.
㈱大光
|
4 |
+12.0%
↑
8,004
|
4 | 7,144 | M |
|
RETAIL PARTNERS CO., LTD.
㈱リテールパートナーズ
|
4 |
NEW
New
3,000
|
— | ||
|
AEON KYUSHU CO., LTD.
イオン九州㈱
|
3 |
1,200
|
2 | 1,200 | |
| アクシアル リテイリング㈱ | — | — | M | ||
|
Aeon Hokkaido Corporation
イオン北海道㈱
|
— | — | |||
|
KANSAI FOOD MARKET LTD.
㈱関西フードマーケット
|
— |
−100%
Exit
—
|
81 | 56,490 | |
|
inageya co.,ltd.
㈱いなげや
|
— |
−100%
Exit
—
|
47 | 37,700 | M |
| エイチ・ツー・オー リテイリング | — |
−100%
Exit
—
|
36 | 23,625 | |
|
FUJI CO., LTD.
㈱フジ
|
— |
−100%
Exit
—
|
22 | 11,900 | |
|
LIFE CORPORATION
㈱ライフコーポレーション
|
— |
−100%
Exit
—
|
18 | 5,700 | |
| ㈱リテールパートナーズ（丸久） | — |
−100%
Exit
—
|
5 | 3,000 | |
| Portfolio total | 14,054 | 11,063 | |||
Book value in ¥M · ↓ reduced · ↑ increased vs prior year · M = mutual holding