Morinaga's Days Sales Outstanding for the
three
months ended in Mar. 2026 was 53.84.
Morinaga's Days Inventory for the
three
months ended in Mar. 2026 was 107.63.
Morinaga's Days Payable for the
three
months ended in Mar. 2026 was 63.78.
Therefore, Morinaga's Cash Conversion Cycle (CCC) for the
three
months ended in Mar. 2026 was 97.69.
Generally, the lower this number is, the better for the company. Although it should be combined with other metrics (such as ROE % and ROA %), it can be especially useful for comparing close competitors, because the company with the lowest CCC is often the one with better management.
Be Aware
CCC is most effective with retail-type companies, which have inventories that are sold to customers. Consulting businesses, software companies and insurance companies are all examples of companies for whom this metric is meaningless.
The CCC is one of several tools that can help you evaluate management, especially if it is calculated for several consecutive time periods and for several competitors. Decreasing or steady CCCs are good, while rising ones should motivate you to dig a bit deeper.
Morinaga Cash Conversion Cycle Related Terms
Morinaga Cash Conversion Cycle Historical Data
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The historical data trend for Morinaga's Cash Conversion Cycle can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
TSE:2201 vs MDLZ, HSY, TR: Cash Conversion Cycle Comparison
For the Confectioners subindustry, Morinaga's Cash Conversion Cycle, along with its competitors' market caps and Cash Conversion Cycle data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Morinaga Cash Conversion Cycle vs Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, Morinaga's Cash Conversion Cycle distribution charts can be found below:
* The bar in red indicates where Morinaga's Cash Conversion Cycle falls into.
Cash Conversion Cycle (CCC) measures how fast a company can convert cash on hand into even more cash on hand. This metric looks at the amount of time needed to sell inventory, the amount of time needed to collect receivables and the length of time the company is afforded to pay its bills without incurring penalties.
Cash Conversion Cycle is one of several measures of management effectiveness.
Morinaga's Cash Conversion Cycle for the fiscal year that ended in Mar. 2026 is calculated as
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Morinaga (TSE:2201) has a Cash Conversion Cycle of 97.69 as of Mar. 2026. Cash conversion cycle equals sum of days inventory and days sales outstanding less days payable. View historical data on Morinaga and its competitors.
Is Morinaga's Cash Conversion Cycle too high?
Morinaga's current Cash Conversion Cycle is 97.69. The Consumer Packaged Goods industry median Cash Conversion Cycle is 75.52. Morinaga's value of 97.69 is 29.4% above this industry median. Overall, Morinaga has a GF Score™ of 85/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Morinaga's Cash Conversion Cycle compare to MDLZ and HSY?
Morinaga's Cash Conversion Cycle of 97.69 can be compared against companies in the Consumer Packaged Goods industry. The industry median Cash Conversion Cycle is 75.52. Morinaga's value of 97.69 is 29.4% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cash Conversion Cycle for a Consumer Packaged Goods company?
The median Cash Conversion Cycle among Consumer Packaged Goods companies is 75.52, based on 1,941 companies in the industry. Companies in the top quartile (top 25%) have a Cash Conversion Cycle significantly above this median, while those in the bottom quartile fall well below. However, Cash Conversion Cycle should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Morinaga's current Cash Conversion Cycle of 97.69 is 29.4% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cash Conversion Cycle mean?
A high Cash Conversion Cycle can signal that a stock is expensive relative to its fundamentals. Cash conversion cycle equals sum of days inventory and days sales outstanding less days payable. View historical data on Morinaga and its competitors. For the Consumer Packaged Goods industry, the median Cash Conversion Cycle is 75.52 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Morinaga's current Cash Conversion Cycle is 97.69. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Morinaga stock overvalued right now?
Based on GuruFocus' analysis, Morinaga (TSE:2201) is currently considered Modestly Undervalued. The stock's GF Value™ is 円3,103.02, compared to a current price of 円2,656.00 — trading 14.4% below its estimated fair value. The current Cash Conversion Cycle is 97.69 and 29.4% above the Consumer Packaged Goods industry median of 75.52. Morinaga's overall GF Score™ is 85/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cash Conversion Cycle calculated?
Cash Conversion Cycle is calculated from a company's financial statements. For Morinaga (TSE:2201), the current Cash Conversion Cycle is 97.69 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Morinaga (TSE:2201) Overvalued in 2026?
Based on GuruFocus' analysis, Morinaga stock appears to be undervalued.
The current stock price of 円2,656.00 is trading 14.4% below its estimated GF Value™ of 円3,103.02.
GuruFocus considers Morinaga to be Modestly Undervalued.
Key valuation signals for TSE:2201:
Cash Conversion Cycle: 97.69
GF Value™: 円3,103.02 vs. price of 円2,656.00 (14.4% below fair value)
Industry Position: 29.4% above the Consumer Packaged Goods median
No single metric tells the full story. See the TSE:2201 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Morinaga & Co Ltd is a Japan-based confectionery company. It has developed a diverse range of confectionery products, canned soft drinks and ice cream that are delicious, fun, and healthy. The company's products are divided into five main divisions, Confectioneries, Foods, Frozen Desserts, Weider, and Healthcare. Confectionaries include Morinaga Biscuits, Chocoball chocolate, Dars chocolate, Koeda chocolate, and HI-CHEW candy. Foods include Morinaga Cocoa; Frozen Desserts include Choco Monaka Jumbo; Weider products include Weider in Jelly; and Healthcare products include Seisho-sabo, Kenpo-shukan, and Collagen drink.
85GF Score
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