Overview
Foods

Morozoff Limited

Morozoff Limited is a Japanese confectionery manufacturer and retailer specializing in Western-style sweets, including chocolates, cookies, chilled desserts (custard pudding, jellies), cakes, and semi-baked goods such as madeleines and financiers. The company sells its products through a network of directly managed and semi-directly managed retail stores, as well as operating café and restaurant outlets offering cakes, coffee, and light meals. Its subsidiary Kamakura New German and Hong Kong-based Visual Hong Kong Limited complement its domestic and overseas operations.

Market Cap
¥29.0B
US$185M
EV
¥26.8B
US$171M
Stock¥1,441▼-0.55%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
15.4
x
LTM EV/EBIT
30.1
x
LTM PER
67.4
x
LTM PBR
1.5
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-28.9%pt
100
Oct 24, 25 – Oct 23, 26StockTOPIX
MC → EV Bridge
29.0BUS$185MMarket Cap2.05BUS$13.1M+ Debt2.54BUS$16.2M− Cash1.71BUS$10.9M− Inv. Sec.26.8BUS$171MEV
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Performance & Balance
Revenue 5Y (¥B)
27.2US$174M'22/132.5US$207M'23/134.9US$223M'24/136.0US$230M'25/136.3US$231M'26/1
EBITDA 5Y (¥B)
2.76US$17.6M'22/13.18US$20.3M'23/13.20US$20.4M'24/12.83US$18.1M'25/11.93US$12.3M'26/1
Net Income 5Y (¥B)
1.03US$6.56M'22/11.70US$10.9M'23/11.72US$10.9M'24/11.41US$9.02M'25/10.64US$4.09M'26/1
Capital Structure
91%
EquityD/E 0.10xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
6.88US$43.9M1.75US$11.2M'22/17.75US$49.4M1.67US$10.7M'23/18.63US$55.0M1.59US$10.1M'24/15.87US$37.4M1.56US$9.94M'25/13.62US$23.1M2.56US$16.3M'26/1
Shareholders
Top 10 hold 33.3%
1
The Master Trust Bank of Japan, Ltd. (Trust Account)
7.05%
2
Heiwa Corporation
4.43%
3
Mizuho Bank, Ltd.
3.79%
4
SMBC Nikko Securities Inc.
3.25%
5
Mitsubishi UFJ Trust and Banking Corporation
3.18%
6
Sanyo Electric Railway Co.,Ltd.
3.16%
7
The Minato Bank, Ltd.
2.61%
8
Kataoka Bussan Co., Ltd.
2.26%
9
Michiko NORIOKA
1.89%
10
Nippon Life Insurance Company
1.65%
Management
10 officers
Shinji YAMAGUCHI
Representative Director, President
Apr 1981 Joined the Company Apr 2005 Fukuoka Branch Manager, Sales Division Apr 2007 Deputy Head, Marketing Center Apr 2008 Head, Marketing Center Apr 2009 Director; Head, Marketing Center and Head, Product Planning Group Apr 2011 Director; Head, Marketing Center Apr 2011 Representative Director, President; Head, Marketing Center Apr 2013 Representative Director, President; Head, Sales Division Apr 2016 Representative Director, President May 2018 Chairman, Japan Chocolate Industry Cooperative (current) Apr 2024 Representative Director, President; Head, Marketing Division Apr 2025 Representative Director, President (current)
1959-03-01
Masato SUZUKI
Representative Director, Executive Vice President; General Manager, Marketing Division
Apr 1994 Joined the Company Apr 2015 General Manager, Product Planning Department, Marketing Division Apr 2018 Fukuoka Branch Manager, Sales Division Apr 2020 Executive Officer; Deputy General Manager, Sales Division and Tokyo Branch Manager Apr 2023 Executive Officer; Deputy General Manager, Sales Division Apr 2023 Director; General Manager, Sales Division Apr 2024 Managing Director; General Manager, Sales Division Apr 2025 Managing Director; General Manager, Marketing Division Apr 2026 Representative Director, Executive Vice President; General Manager, Marketing Division (current)
1971-10-28
Kenji ISONO
Representative Director, Senior Managing Director; General Manager, Corporate Management Division
Apr 1989 Joined the Company Apr 2012 Sales Manager, Kansai Branch, Sales Division Apr 2021 Executive Officer; Deputy General Manager, Corporate Management Division and General Manager, Human Resources and General Affairs Department Apr 2024 Executive Officer; Deputy General Manager, Corporate Management Division Apr 2024 Director; General Manager, Corporate Management Division Apr 2026 Representative Director, Senior Managing Director; General Manager, Corporate Management Division (current)
1965-07-02
Koji TAKADA
Managing Director; General Manager, Production Division
Apr 1989 Joined the Company Apr 2011 Plant Manager, Rokko Island Plant, Production Division Apr 2013 Plant Manager, Nishijin Plant, Production Division Apr 2016 Executive Officer; Deputy General Manager, Production Division and Plant Manager, Nishijin Plant Apr 2020 Executive Officer; Deputy General Manager, Production Division Apr 2020 Director; General Manager, Production Division Apr 2026 Managing Director; General Manager, Production Division (current)
1965-05-21
Takayuki SASAKI
Director; General Manager, Sales Division
Apr 1990 Joined the Company Apr 2012 Manager, Customer Service, Sales Division Apr 2013 General Manager, Customer Service Promotion Department, Sales Division Apr 2016 Nagoya Branch Manager, Sales Division Apr 2018 Kansai Branch Manager, Sales Division Apr 2023 Executive Officer; Deputy General Manager, Sales Division and Tokyo Branch Manager Apr 2025 Executive Officer; General Manager, Sales Division Apr 2025 Director; General Manager, Sales Division (current)
1966-08-03
Masakazu KIMURA
Director (Full-time Audit and Supervisory Committee Member)
Apr 1986 Joined the Company Apr 2018 General Manager, Accounting Department, Corporate Management Division Apr 2024 Attached to Corporate Management Division, Accounting Department Apr 2024 Director (Full-time Audit and Supervisory Committee Member) (current)
1962-11-18
Kaoru KASAHARA
Director
Mar 1989 Joined Pigeon Corporation Feb 2010 Representative Director, President, Pigeon Will Co., Ltd. Feb 2014 Executive Officer; Deputy General Manager, Domestic Baby and Mama Business, Pigeon Corporation Feb 2015 Executive Officer; General Manager, Development Division, Pigeon Corporation Feb 2019 Director, Pigeon Manufacturing Ibaraki Co., Ltd. Mar 2022 Outside Director, The Pack Corporation (current) Apr 2023 Outside Director of the Company (current)
1961-12-14
Takeo MORISAWA
Director
Apr 1989 Registered as attorney-at-law Apr 1989 Joined Kyowa Sogo Law Office Apr 1995 Opened Takeo Morisawa Law Office (current) Apr 2015 Audit & Supervisory Board Member, Onamba Co., Ltd. Mar 2016 Outside Director, Onamba Co., Ltd. Apr 2024 Outside Director of the Company (current)
1961-08-27
Junko WATANABE
Director (Audit and Supervisory Committee Member)
Apr 1994 Research Assistant, Faculty of Economics, Hokkaido University Apr 1997 Research Assistant, Faculty of Economics, Graduate School of Economics, University of Tokyo Apr 1998 Associate Professor, Faculty of Humanities, Shizuoka University Oct 2002 Associate Professor, Faculty of Electro-Communications, University of Electro-Communications Apr 2004 Associate Professor, Graduate School of Economics, Kyoto University Mar 2005 Visiting Researcher, Paris Diderot University (Paris 7) Oct 2011 Visiting Researcher, Reischauer Institute, Harvard University Apr 2012 Professor, Graduate School of Economics, Kyoto University (current) Aug 2012 Visiting Associate Professor, Graduate School of Economics, University of Tokyo Jun 2016 Outside Audit & Supervisory Board Member, Nidec Corporation (formerly Nippon Densan Corporation) Apr 2020 Outside Director (Audit and Supervisory Committee Member) of the Company (current) Oct 2022 Outside Director (Audit and Supervisory Committee Member), Nidec Corporation
1965-10-17
Shigeki MATSUO
Director (Audit and Supervisory Committee Member)
Apr 1982 Joined Dai-Ichi Kangyo Bank (now Mizuho Bank, Ltd.) May 2005 Manager, Shintokorozawa Branch, Mizuho Bank Apr 2009 Staff Officer, Yokoyamacho Corporate Division, Yokoyamacho Branch, Mizuho Bank; seconded to Kawajun Co., Ltd. Apr 2011 Managing Executive Officer; General Manager, Administration Division, Kawajun Co., Ltd. Apr 2022 Outside Director (Audit and Supervisory Committee Member) of the Company (current)
1958-02-18
Large Shareholding Reports
No filings
Disclosures
No disclosures
Primary Source Filings
EDINET
2026-09-14
Semi-Annual Securities Report
Period: Feb 2026 – Jan 2027
TDnet
2026-09-11
Q2 Earnings Flash
FY ending Jan 2027
TDnet
2026-06-09
Q1 Earnings Flash
FY ending Jan 2027
EDINET
2026-04-23
Annual Securities Report
Period: Feb 2025 – Jan 2026
TDnet
2025-12-11
Q3 Earnings Flash
FY ending Jan 2026
EDINET
2025-09-12
Semi-Annual Securities Report
Period: Feb 2025 – Jan 2026
EDINET
2025-09-12
Securities Registration Statement
TDnet
2025-06-10
Q1 Earnings Flash
FY ending Jan 2026
EDINET
2025-04-28
Annual Securities Report
Period: Feb 2024 – Jan 2025
TDnet
2024-12-11
Q3 Earnings Flash
FY ending Jan 2025
EDINET
2024-09-13
Semi-Annual Securities Report
Period: Feb 2024 – Jul 2024
EDINET
2024-06-14
Quarterly Securities Report
Period: Feb 2024 – Apr 2024
TDnet
2024-06-10
Q1 Earnings Flash
FY ending Jan 2025
EDINET
2024-04-26
Annual Securities Report
Period: Feb 2023 – Jan 2024
EDINET
2023-12-13
Quarterly Securities Report
Period: Aug 2023 – Oct 2023
EDINET
2023-09-13
Quarterly Securities Report
Period: May 2023 – Jul 2023
EDINET
2023-06-13
Quarterly Securities Report
Period: Feb 2023 – Apr 2023
EDINET
2023-04-26
Annual Securities Report
Period: Feb 2022 – Jan 2023
EDINET
2022-12-13
Quarterly Securities Report
EDINET
2022-09-13
Quarterly Securities Report
EDINET
2022-06-13
Quarterly Securities Report
EDINET
2022-04-27
Annual Securities Report
EDINET
2021-12-13
Quarterly Securities Report
EDINET
2021-09-13
Quarterly Securities Report
EDINET
2021-06-11
Quarterly Securities Report
EDINET
2021-04-28
Annual Securities Report
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