BASE FOOD, Inc.

2936 ベースフード株式会社

Packaged Foods · Growth

PRICE: ¥290 · MKT CAP: ¥15.9B · P/E: 58.9x · P/B: 11.43x · DIV YIELD: 0.0%

PRICE — 5Y

Characteristics & Business Summary

BASE FOOD Inc. develops and sells nutritional food in Japan. It offers bread, pasta, cookies, pancake mix, and yakisoba. The company sells its products through company-owned e-commerce, other e-commerce platforms, and wholesale channels. The company was...

Income Statement Highlights (¥ Million, except EPS/DPS in ¥)

Fiscal Period	FY 2022	FY 2023	FY 2024	FY 2025
Net Sales	9,858	14,874	15,241	15,192
Operating Profit	-971	-903	137	217
Ordinary Profit	-995	-891	124	268
Net Profit	-1,008	-856	109	262
EPS	¥-20	¥-16	¥2	¥5
DPS	¥0	¥0	¥0	¥0

Balance Sheet & Valuation Highlights

Total Assets ¥4B

Net Assets (Equity) ¥1B

Equity Ratio 33.8%

ROE (Return on Equity) 19.4%

Cash & Equivalents ¥2B

Interest-Bearing Debt ¥1B

Capital Expenditure (CapEx) ¥0B

Depreciation & Amort. ¥0B

Major Shareholders

1. 橋本舜 32.6%
2. 立花証券株式会社 26.5%
3. MBFアクセラレーション株式会社 6.9%
4. 牧寛之 6.6%
5. 齋藤竜太 1.3%
6. 里田聡美 1.3%
7. 山本陽介 1.0%
8. 寺田英司 0.9%
9. The Master Trust Bank of Japan, Ltd. (Trust Account) 0.6%
10. 斉藤徹 0.5%

Activist Activity

Melco Group Inc. 33.28%

2026-06-05 · initial_5pct

Maki Hiroyuki (individual), MBF Acceleration Inc., MELCO Group Inc. 39.67%

2026-06-05 · decrease

Hashimoto shun 32.04%

2026-04-10 · initial_5pct

Maki Hiroyuki 39.67%

2026-01-16 · change

Maki Hiroyuki 39.67%

2025-12-19 · correction

Historical Per-Share Data & Valuation Ratios

Per Share Metric	FY 2022	FY 2023	FY 2024	FY 2025
Revenues per share	¥194	¥279	¥280	¥277
FCF/Share	¥-16	¥-14	¥1	¥2
EPS	¥-20	¥-16	¥2	¥5
DPS	¥0	¥0	¥0	¥0
Capital Spending per share	¥1	¥1	¥1	¥2
Book Value per share	¥32	¥16	¥19	¥25
Common Shares Outstanding	51M	53M	54M	55M

Financial Aggregates & Margins

Financial Aggregate	FY 2022	FY 2023	FY 2024	FY 2025
Revenues (Net Sales)	¥10B	¥15B	¥15B	¥15B
Operating Margin (%)	-9.9%	-6.1%	0.9%	1.4%
Net Profit (owners)	¥-1B	¥-1B	¥0B	¥0B
Net Profit Margin (%)	-10.2%	-5.8%	0.7%	1.7%
Working Capital	¥1B	¥0B	¥0B	¥1B
Total Debt (Interest-bearing)	¥1B	¥0B	¥1B	¥1B
Net Worth (Common Equity)	¥2B	¥1B	¥1B	¥1B
Return on Total Assets (ROA)	-27.9%	-26.1%	2.8%	6.5%
Return on Common Equity (ROE)	-61.5%	-101.7%	10.5%	19.4%

Business Summary & Analysis

Capital Strategy Targets

No active capital policy disclosure records found.