beluuga.ai

Overview

Foods

MEITO CO.,LTD.

Kyodo Milk Industry (Meito) manufactures and sells a wide range of dairy-based products under the 'Nokyo' (agricultural cooperative) and 'Meito' brand names, including milk, yogurt, ice cream, desserts (puddings, frozen yogurt), cheese, fruit juices, and functional foods. The company leverages partnerships with domestic agricultural cooperatives and regional dairy farmers to source high-quality raw milk, emphasizing natural ingredients and regional provenance. Its product portfolio includes functional foods such as the 'Kekkan Support Yogurt' featuring Bifidobacterium LKM512, targeting health-conscious consumers.

Activists: UGS Asset Management, Inc. 9.75%

Market Cap

¥56.6B

US$361M

¥14.5B

US$92.7M

Stock¥3,470▲+0.58%

US$1 = ¥156.80 (2026-10-23)

LTM EV/EBITDA

4.9

LTM EV/EBIT

15.5

LTM PER

18.3

LTM PBR

0.9

Stock vs TOPIX (1Y, base=100)vs TOPIX ▲+38.7%pt

Oct 23, 25 – Oct 23, 26StockTOPIX

1May 14, 26UGS Asset Management, Inc. changed stake (7.32%→8.36%)

2May 27, 26UGS Asset Management, Inc. changed stake (8.36%→9.75%)

3Aug 12, 26Q1 FY2027/03 earnings announced

MC → EV Bridge

AI Briefing

Meito: dairy manufacturer under 'Meito'/'Nokyo' brands, leveraging farmer co-op ties and heritage products like Homerun Bar alongside functional yogurt innovation. FY26/3 revenue ¥29.1B with OP margin easing to 4.2% from 5.0% a year earlier, following a multi-year margin recovery from near-breakeven FY23 levels. Market cap ¥57.0B against thin EV of ¥14.9B signals heavy net cash cushion; ownership concentrated among strategic/trading partners (Kowa, employee stock plan, Takasago) rather than financial sponsors.

Performance & Balance

Revenue 5Y (¥B)

EBITDA 5Y (¥B)

Net Income 5Y (¥B)

Capital Structure

78%

22%

EquityD/E 0.29xDebt

Liquidity vs Debt 5Y (¥B)▲ Net Cash

CashInv. Sec.Debt

Shareholders

Top 10 hold 39.4%

as of 2026-03-31 · Source: Annual Securities Report

KOWA COMPANY, LTD.

9.58%

meito Business Partners' Stock Ownership Association

8.50%

The Master Trust Bank of Japan, Ltd. (Trust Account)

4.64%

Takasago International Corporation

4.61%

TOHO GAS CO.,LTD.

2.78%

Sunshine D-Gou Investment Limited Partnership

2.02%

Yamato Sangyo Co., Ltd.

1.97%

Sunshine G-Gou Investment Limited Partnership

1.85%

FUJI OIL CO.,LTD.

1.84%

Sunshine E-Gou Investment Limited Partnership

1.65%

Management

8 officers

Masuo MITSUYA

Representative Director, President, Group Representative

Apr 1982 Joined the Company Jun 2011 Executive Officer Jun 2013 Director Jun 2018 Managing Director Apr 2020 Representative Director, Managing Director Jun 2020 Representative Director, President Jun 2024 Representative Director, President, Group Representative (current)

1959-09-03

Tetsuya IO

Managing Director, General Manager of Sales Headquarters and Sales Department, in charge of Food Business

Apr 1989 Joined the Company Jun 2020 General Manager, Sales Department Apr 2022 Deputy General Manager of Sales Headquarters and General Manager, Sales Department Jun 2022 Executive Officer, General Manager of Sales Headquarters and General Manager, Sales Department Jun 2023 Senior Executive Officer, General Manager of Sales Headquarters and General Manager, Sales Department Jun 2024 Director, General Manager of Sales Headquarters and General Manager, Sales Department, in charge of Food Business Jun 2026 Managing Director, General Manager of Sales Headquarters and General Manager, Sales Department, in charge of Food Business

1965-11-29

Hiroyuki UCHIKI

Director, General Manager of Administration Headquarters and General Affairs Department

Apr 1987 Joined the Company Jun 2017 Plant Manager, Nagoya Plant Jun 2018 Executive Officer, Plant Manager, Nagoya Plant Aug 2018 Executive Officer, Plant Manager, Nagoya Plant and Plant Manager, Seto Plant Jun 2019 Director, Plant Manager, Nagoya Plant and Plant Manager, Seto Plant Oct 2019 Director, General Manager of Production Headquarters and Plant Manager, Seto Plant Jun 2020 Director, General Manager of Production Headquarters and General Manager, Operations Department Apr 2022 Director, General Manager of Production Headquarters, General Manager of Operations Department and General Manager of Food Development Department May 2023 Director, General Manager of Production Headquarters and General Manager of Food Development Department Apr 2024 Director, General Manager of Administration Headquarters and General Manager, General Affairs Department (current)

1964-05-05

Kazunori HARADA

Director, General Manager of Specialty Chemicals Business Division, General Manager of Specialty Chemicals Sales Department and Plant Manager, Hachioji Plant

Apr 1991 Joined the Company Jun 2018 Director of Tokyo Research Laboratory Aug 2020 Executive Officer, General Manager of Specialty Chemicals Business Division, General Manager of Specialty Chemicals Sales Department and Director of Tokyo Research Laboratory Jun 2023 Senior Executive Officer, General Manager of Specialty Chemicals Business Division, General Manager of Specialty Chemicals Sales Department and Director of Tokyo Research Laboratory Jun 2024 Senior Executive Officer, General Manager of Specialty Chemicals Business Division, General Manager of Specialty Chemicals Sales Department and Plant Manager, Hachioji Plant Jun 2025 Director, General Manager of Specialty Chemicals Business Division, General Manager of Specialty Chemicals Sales Department and Plant Manager, Hachioji Plant (current)

1968-09-10

Hirotaka WANAMI

Director (Audit and Supervisory Committee Member, Full-time)

Apr 1987 Joined the Company Jun 2020 General Manager, General Affairs Department Jun 2024 Director (Audit and Supervisory Committee Member) (current)

1964-01-24

Mitsuko YAMAMOTO

Director (Audit and Supervisory Committee Member)

Mar 1983 Joined Woman Staff Co., Ltd. Apr 1985 Director, Head of Sales Division, Woman Staff Co., Ltd. Sep 1998 Changed name to People Staff Co., Ltd.; Senior Managing Director, People Staff Co., Ltd. Jul 2016 Integrated with Tempstaff Co., Ltd.; Director, Senior Executive Officer, People Staff Co., Ltd. Jul 2017 Changed name to Persol Temp Staff Co., Ltd. Jul 2019 Director, Persol Temp Staff Co., Ltd. Jul 2020 Adviser (Full-time), Persol Temp Staff Co., Ltd. (current) Jun 2022 Outside Director (Audit and Supervisory Committee Member), Aica Kogyo Co., Ltd. (current) Jun 2023 Outside Director, Takeda iP Holdings Co., Ltd. (current) Jun 2023 Outside Director (Audit and Supervisory Committee Member) of the Company (current)

1957-01-01

Masashi MIYAMOTO

Director (Audit and Supervisory Committee Member)

Oct 1985 Joined Itoh Accounting Firm Mar 1989 Registered as Certified Public Accountant Jul 2005 Senior Partner, Chuo Aoyama Audit Corporation Aug 2007 Senior Partner, Azsa Audit Corporation Sep 2010 Executive Partner, Azsa LLC Sep 2014 Auditor, Azsa LLC Jul 2018 Opened Masashi Miyamoto CPA Office (current) Jun 2020 Outside Director (Audit and Supervisory Committee Member) of the Company (current)

1956-02-08

Keiko HASEGAWA

Director (Audit and Supervisory Committee Member)

Apr 1997 Registered as Attorney-at-Law; joined Hasegawa Law Office Nov 2006 Assumed position of Head, Hasegawa Law Office (current) Jun 2016 Director, Aichi Victim Support Center, a public interest incorporated association (current) Jul 2023 Director, Chukyo Law Professional School, a school corporation (current) Jul 2024 External Auditor, Aichi Prefectural Nursing Association, a public interest incorporated association (current) May 2026 External Director, Aichi Prefectural Association of Real Estate Transaction Businesses, a public interest incorporated association (current) Jun 2026 Outside Director (Audit and Supervisory Committee Member) of the Company

1965-08-13

Large Shareholding Reports