Morinaga (TSE:2201) ROCE %: 8.84% (As of Mar. 2026)

What is Morinaga ROCE %?

Morinaga TSE:2201 -1.85% 85 ROCE % is 8.84% as of Mar. 2026. GuruFocus rates TSE:2201 with a GF Score™ of 85/100 and a GF Value™ of 円3,103.02 (Modestly Undervalued). The stock has 4 warning signs investors should review.

ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. Morinaga's annualized ROCE % for the quarter that ended in Mar. 2026 was 8.84%.

Morinaga (TSE:2201) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

Morinaga ROCE % Related Terms

Morinaga ROCE % Historical Data

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The historical data trend for Morinaga's ROCE % 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.

Morinaga ROCE % Chart

Morinaga Annual Data

Trend

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Mar24

Mar25

Mar26

ROCE %

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26.39

9.35

13.21

15.38

15.60

Morinaga Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
ROCE %	Get a 7-Day Free Trial															12.18	18.75	21.69	16.32	8.84

85GF Score

Morinaga & Co Ltd TSE:2201

ROCE % is just one metric. See GF Score™, valuation, warning signs, and more.

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Morinaga ROCE % Calculation

Morinaga's annualized ROCE % for the fiscal year that ended in Mar. 2026 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Mar. 2026 )		(A: Mar. 2025 )		(A: Mar. 2026 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Mar. 2026 )		(A: Mar. 2025 )		(A: Mar. 2026 )
	=	25461	/	( ( (209986 - 51889)	+	(225921 - 57585) )	/ 2 )
	=	25461	/	( (158097	+	168336)	/ 2 )
	=	25461	/	163216.5
	=	15.60 %

Morinaga's ROCE % of for the quarter that ended in Mar. 2026 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Mar. 2026 )		(Q: Dec. 2025 )		(Q: Mar. 2026 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Mar. 2026 )		(Q: Dec. 2025 )		(Q: Mar. 2026 )
	=	14496	/	( ( (221898 - 62446)	+	(225921 - 57585) )	/ 2 )
	=	14496	/	( ( 159452	+	168336 )	/ 2 )
	=	14496	/	163894
	=	8.84 %

(1) Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

Frequently Asked Questions Learn more about ROCE % →

What does a ROCE % of 8.84% mean?

Morinaga (TSE:2201) has a ROCE % of 8.84% as of Mar. 2026.

Is Morinaga's ROCE % too high?

Morinaga's current ROCE % is 8.84%. The Consumer Packaged Goods industry median ROCE % is 8.78. Morinaga's value of 8.84% is 0.7% 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 ROCE % compare to MDLZ and HSY?

Morinaga's ROCE % of 8.84% can be compared against companies in the Consumer Packaged Goods industry. The industry median ROCE % is 8.78. Morinaga's value of 8.84% is 0.7% 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 ROCE % for a Consumer Packaged Goods company?

The median ROCE % among Consumer Packaged Goods companies is 8.78, based on 1,933 companies in the industry. Companies in the top quartile (top 25%) have a ROCE % significantly above this median, while those in the bottom quartile fall well below. However, ROCE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Morinaga's current ROCE % of 8.84% is 0.7% 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 ROCE % mean?

A high ROCE % can signal that a stock is expensive relative to its fundamentals. For the Consumer Packaged Goods industry, the median ROCE % is 8.78 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Morinaga's current ROCE % is 8.84%. 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 ROCE % is 8.84% and 0.7% above the Consumer Packaged Goods industry median of 8.78. 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 ROCE % calculated?

ROCE % is calculated from a company's financial statements. For Morinaga (TSE:2201), the current ROCE % is 8.84% 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:

ROCE %: 8.84%
GF Value™: 円3,103.02 vs. price of 円2,656.00 (14.4% below fair value)
GF Score™: 85/100 with 4 warning signs
Industry Position: 0.7% 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 Business Description

Industry Consumer Defensive Consumer Packaged Goods

Comparable Companies TSE:2109 TSE:2117 TSE:2208 TSE:2222 TSE:2211 TSE:2108 TSE:2207 TSE:2216 TSE:2114 TSE:2221 MDLZ HSY XSWX:LISN XSWX:BARN XKRX:271560 TR SZSE:000833 CAS:CSR OSTO:CLA B BOM:500038

Address 5-33-1 Shiba, Minato-ku, Tokyo, JPN, 108-8403

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

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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円2,656.00

Price

円3,103.02

GF Value

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