Kisoji Co (NGO:8160) Beneish M-Score: -2.88 (As of Jun. 26, 2026)

What is Kisoji Co Beneish M-Score?

Kisoji Co NGO:8160 77 Beneish M-Score is -2.88 as of Jun. 26, 2026. GuruFocus rates NGO:8160 with a GF Score™ of 77/100 and a GF Value™ of 円2,723.60. The stock has 2 warning signs investors should review. Among 357 Restaurants companies, Kisoji Co ranks better than 60.78% on this metric.

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Good Sign:

Beneish M-Score -2.88 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Kisoji Co's Beneish M-Score or its related term are showing as below:

NGO:8160' s Beneish M-Score Range Over the Past 10 Years
Min: -3 Med: -2.63 Max: -1.88
Current: -2.88

During the past 13 years, the highest Beneish M-Score of Kisoji Co was -1.88. The lowest was -3.00. And the median was -2.63.

Kisoji Co Beneish M-Score Related Terms

Kisoji Co Beneish M-Score Historical Data

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The historical data trend for Kisoji Co's Beneish M-Score 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.

Kisoji Co Beneish M-Score Chart

Kisoji Co Annual Data

Trend

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Mar24

Mar25

Mar26

Beneish M-Score

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-2.66

-2.60

-2.72

-2.20

-2.88

Kisoji Co Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
Beneish M-Score	Get a 7-Day Free Trial															-2.20	0.00	0.00	0.00	-2.88

NGO:8160 vs MCD, SBUX, CMG: Beneish M-Score Comparison

For the Restaurants subindustry, Kisoji Co's Beneish M-Score, along with its competitors' market caps and Beneish M-Score 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.

Kisoji Co Beneish M-Score vs Restaurants Industry

For the Restaurants industry and Consumer Cyclical sector, Kisoji Co's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Kisoji Co's Beneish M-Score falls into.

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77GF Score

Kisoji Co Ltd NGO:8160

Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.

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Kisoji Co Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of Kisoji Co for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 0.9397

0.528 * 0.9963

0.404 * 0.9676

0.892 * 1.0252

0.115 * 1.0273

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1

4.679 * -0.076354

0.327 * 0.9942

-2.88

This Year (Mar26) TTM:

Last Year (Mar25) TTM:

Total Receivables was 円1,949 Mil.
Revenue was 円54,570 Mil.
Gross Profit was 円37,342 Mil.
Total Current Assets was 円20,810 Mil.
Total Assets was 円48,498 Mil.
Property, Plant and Equipment(Net PPE) was 円16,626 Mil.
Depreciation, Depletion and Amortization(DDA) was 円1,618 Mil.
Selling, General, & Admin. Expense(SGA) was 円0 Mil.
Total Current Liabilities was 円13,830 Mil.
Long-Term Debt & Capital Lease Obligation was 円225 Mil.
Net Income was 円1,728 Mil.
Gross Profit was 円0 Mil.
Cash Flow from Operations was 円5,431 Mil.

Total Receivables was 円2,023 Mil.
Revenue was 円53,229 Mil.
Gross Profit was 円36,290 Mil.
Total Current Assets was 円19,503 Mil.
Total Assets was 円46,781 Mil.
Property, Plant and Equipment(Net PPE) was 円16,250 Mil.
Depreciation, Depletion and Amortization(DDA) was 円1,629 Mil.
Selling, General, & Admin. Expense(SGA) was 円0 Mil.
Total Current Liabilities was 円13,212 Mil.
Long-Term Debt & Capital Lease Obligation was 円424 Mil.

1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI	=	(Receivables_t / Revenue_t)	/	(Receivables_t-1 / Revenue_t-1)
	=	(1949 / 54570)	/	(2023 / 53229)
	=	0.035716	/	0.038006
	=	0.9397

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI	=	GrossMargin_t-1	/	GrossMargin_t
	=	(GrossProfit_t-1 / Revenue_t-1)	/	(GrossProfit_t / Revenue_t)
	=	(36290 / 53229)	/	(37342 / 54570)
	=	0.681771	/	0.684295
	=	0.9963

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI	=	(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t)	/	(1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
	=	(1 - (20810 + 16626) / 48498)	/	(1 - (19503 + 16250) / 46781)
	=	0.228092	/	0.235737
	=	0.9676

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI	=	Sales_t	/	Sales_t-1
	=	Revenue_t	/	Revenue_t-1
	=	54570	/	53229
	=	1.0252

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI	=	(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1))	/	(Depreciation_t / (Depreciaton_t + PPE_t))
	=	(1629 / (1629 + 16250))	/	(1618 / (1618 + 16626))
	=	0.091112	/	0.088687
	=	1.0273

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI	=	(SGA_t / Sales_t)	/	(SGA_t-1 /Sales_t-1)
	=	(0 / 54570)	/	(0 / 53229)
	=	0	/	0
	=	1

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI	=	((LTD_t + CurrentLiabilities_t) / TotalAssets_t)	/	((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
	=	((225 + 13830) / 48498)	/	((424 + 13212) / 46781)
	=	0.289806	/	0.291486
	=	0.9942

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA	=	(IncomefromContinuingOperations_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(NetIncome_t - NonOperatingIncome_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(1728 - 0	-	5431)	/	48498
	=	-0.076354

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Kisoji Co has a M-score of -2.88 suggests that the company is unlikely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →

What does a Beneish M-Score of -2.88 mean?

Kisoji Co (NGO:8160) has a Beneish M-Score of -2.88 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Kisoji Co and its competitors. According to the industry distribution chart, Kisoji Co ranks #140 out of 357 companies in the Restaurants industry, placing it in the top 39.2%.

Is Kisoji Co's Beneish M-Score too high?

Kisoji Co's current Beneish M-Score is -2.88. Based on the distribution chart, Kisoji Co ranks #140 out of 357 companies in the Restaurants industry, which is above the industry midpoint. Overall, Kisoji Co has a GF Score™ of 77/100, reflecting its overall financial health beyond just this single metric.

How does Kisoji Co's Beneish M-Score compare to MCD and SBUX?

According to the Restaurants industry distribution chart, Kisoji Co ranks #140 out of 357 companies for Beneish M-Score. This puts Kisoji Co in the upper half of its industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.

What is a good Beneish M-Score for a Restaurants company?

A good Beneish M-Score depends on the Restaurants industry context. However, Beneish M-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.

What does a high Beneish M-Score mean?

A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Kisoji Co and its competitors. Kisoji Co's current Beneish M-Score is -2.88. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Kisoji Co stock overvalued right now?

Kisoji Co (NGO:8160) has a current Beneish M-Score of -2.88. The stock's GF Value™ is 円2,723.60, compared to a current price of 円2,426.00 — trading 10.9% below its estimated fair value. The current Beneish M-Score is -2.88. Kisoji Co's overall GF Score™ is 77/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.

How is Beneish M-Score calculated?

Beneish M-Score is calculated from a company's financial statements. For Kisoji Co (NGO:8160), the current Beneish M-Score is -2.88 as of Jun. 26, 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 Kisoji Co (NGO:8160) Overvalued in 2026?

Based on GuruFocus' analysis, Kisoji Co stock appears to be undervalued. The current stock price of 円2,426.00 is trading 10.9% below its estimated GF Value™ of 円2,723.60.

Key valuation signals for NGO:8160:

Beneish M-Score: -2.88
GF Value™: 円2,723.60 vs. price of 円2,426.00 (10.9% below fair value)
GF Score™: 77/100 with 2 warning signs

No single metric tells the full story. See the NGO:8160 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Kisoji Co Business Description

Industry Consumer Cyclical Restaurants

Comparable Companies TSE:3091 TSE:3399 TSE:7421 TSE:2752 TSE:2705 TSE:3395 TSE:8200 TSE:3198 TSE:9900 TSE:9828 MCD SBUX LSE:CPG CMG YUM TSX:QSR TSX:QSP.UN DRI YUMC TXRH

Other Exchanges 8160:Japan

Address 3-18-13 Shirogane, Showa-ku, Nagoya, JPN, 466-8507

Website http://www.kisoji.co.jp

Kisoji Co Ltd operates several restaurants in Japan. The company operates through the following divisions of businesses Kisoji, Sozaiya, Suzunoren, Torikaku, Janjantei, and Uno. Through these, it offers shabu-shabu and Japanese cuisine, Japanese-style pubs, and mainly Japanese restaurants. It also manages restaurants with specialty chicken dishes, a variety of grilled meat and wineries.

77GF Score

Get the complete analysis for NGO:8160

Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

円2,426.00

Price

円2,723.60

GF Value

View NGO:8160 Analysis

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