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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 -2.57 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Kobe Bussan Co's Beneish M-Score or its related term are showing as below:
TSE:3038'
s Beneish M-Score Range Over the Past 10 Years
Min: -2.89 Med: -2.55 Max: -2.2
Current: -2.57
During the past 13 years, the highest Beneish M-Score of Kobe Bussan Co was -2.20. The lowest was -2.89. And the median was -2.55.
Kobe Bussan Co Beneish M-Score Related Terms
Kobe Bussan Co Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Kobe Bussan 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.
For the Grocery Stores subindustry, Kobe Bussan 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.
Kobe Bussan Co Beneish M-Score vs Retail - Defensive Industry
For the Retail - Defensive industry and Consumer Defensive sector, Kobe Bussan Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Kobe Bussan Co's Beneish M-Score falls into.
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 Kobe Bussan Co for today is based on a combination of the following eight different indices:
M
=
-4.84
+
0.92 * DSRI
+
0.528 * GMI
+
0.404 * AQI
+
0.892 * SGI
+
0.115 * DEPI
=
-4.84
+
0.92 * 0.9954
+
0.528 * 0.9547
+
0.404 * 1.0209
+
0.892 * 1.0863
+
0.115 * 1.0143
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.995
+
4.679 * -0.039336
-
0.327 * 0.89
=
-2.57
* 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.
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.
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))
=
(6449 / (6449 + 65811))
/
(6551 / (6551 + 67898))
=
0.089247
/
0.087993
=
1.0143
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
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
=
(31878 - 0
-
42113)
/
260193
=
-0.039336
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.
Kobe Bussan Co has a M-score of -2.57 suggests that the company is unlikely to be a manipulator.
Kobe Bussan Co (TSE:3038) has a Beneish M-Score of -2.57 as of Jul. 16, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Kobe Bussan Co and its competitors. According to the industry distribution chart, Kobe Bussan Co ranks #154 out of 294 companies in the Retail - Defensive industry, placing it in the top 52.4%.
Is Kobe Bussan Co's Beneish M-Score too high?
Kobe Bussan Co's current Beneish M-Score is -2.57. Based on the distribution chart, Kobe Bussan Co ranks #154 out of 294 companies in the Retail - Defensive industry, which is below the industry midpoint. Overall, Kobe Bussan Co has a GF Score™ of 89/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Kobe Bussan Co's Beneish M-Score compare to KR?
According to the Retail - Defensive industry distribution chart, Kobe Bussan Co ranks #154 out of 294 companies for Beneish M-Score. This places Kobe Bussan Co in the lower 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 Retail - Defensive company?
A good Beneish M-Score depends on the Retail - Defensive 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 Kobe Bussan Co and its competitors. Kobe Bussan Co's current Beneish M-Score is -2.57. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Kobe Bussan Co stock overvalued right now?
Based on GuruFocus' analysis, Kobe Bussan Co (TSE:3038) is currently considered Significantly Undervalued. The stock's GF Value™ is 円4,408.71, compared to a current price of 円2,674.50 — trading 39.3% below its estimated fair value. The current Beneish M-Score is -2.57. Kobe Bussan Co's overall GF Score™ is 89/100 with 1 warning sign 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 Kobe Bussan Co (TSE:3038), the current Beneish M-Score is -2.57 as of Jul. 16, 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 Kobe Bussan Co (TSE:3038) Overvalued in 2026?
Based on GuruFocus' analysis, Kobe Bussan Co stock appears to be undervalued.
The current stock price of 円2,674.50 is trading 39.3% below its estimated GF Value™ of 円4,408.71.
GuruFocus considers Kobe Bussan Co to be Significantly Undervalued.
Key valuation signals for TSE:3038:
Beneish M-Score: -2.57
GF Value™: 円4,408.71 vs. price of 円2,674.50 (39.3% below fair value)
No single metric tells the full story. See the TSE:3038 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Kobe Bussan Co Ltd is a Japan-based company that operates through four business divisions: Business Supermarket, Restaurant and Ready-Meal, Eco-Renewable Energy, and Others. The Business Supermarket segment runs Gyomu Super stores offering affordable domestic and imported food products. The Restaurant and Ready-Meal segment operates buffet and delicatessen chains such as Kobe Cook World Buffet, Premium Karubi, and Chisouna. The Eco-Renewable Energy segment generates electricity from nineteen solar and one woody biomass power plant. The Others segment includes tourism and related businesses. It generates the majority of its revenue from the Business Supermarket segment.
89GF Score
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