Overview
Foods

Ajinomoto Co.,Inc.

Ajinomoto Co., Inc. is a global food and amino acid company that develops, manufactures, and markets seasonings (including its iconic umami seasoning 'AJI-NO-MOTO®'), processed foods, frozen foods, and coffee products under brands such as AGF. Beyond food, the company leverages its deep amino acid expertise across healthcare segments including pharmaceutical-grade amino acids, biopharmaceutical contract development and manufacturing (CDMO), and functional materials such as interlayer insulating films for semiconductors. The company operates across Japan, Asia, the Americas, Europe, and Africa, supported by over 100 consolidated subsidiaries.

Market Cap
¥4,834B
US$30.8B
EV
¥5,304B
US$33.8B
Stock¥5,064▲+0.36%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
17.8
x
LTM EV/EBIT
25.4
x
LTM PER
34.8
x
LTM PBR
6.2
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-1.6%pt
1001234
Oct 24, 25 – Oct 23, 26StockTOPIX
1Nov 7, 25Earnings show China struggles, domestic frozen food share drop
2Nov 12, 25Technical rebound after sharp fall
3Feb 6, 26Surge on Q3 results and full-year guidance raise announced Feb 5
4Feb 9, 26Continued rise after strong earnings
MC → EV Bridge
4,834BUS$30.8BMarket Cap623BUS$3.97B+ Debt197BUS$1.26B− Cash29.8BUS$190M− Inv. Sec.73.8BUS$471M+ NCI5,304BUS$33.8BEV
AI Briefing
Generating insights…
Performance & Balance
Revenue 5Y (¥B)
1,149US$7.33B'22/31,359US$8.67B'23/31,439US$9.18B'24/31,531US$9.76B'25/31,584US$10.1B'26/3
EBITDA 5Y (¥B)
191US$1.22B'22/3221US$1.41B'23/3225US$1.43B'24/3200US$1.28B'25/3288US$1.84B'26/3
Net Income 5Y (¥B)
75.7US$483M'22/394.1US$600M'23/387.1US$556M'24/370.3US$448M'25/3135US$859M'26/3
Capital Structure
55%
45%
EquityD/E 0.80xDebt
Liquidity vs Debt 5Y (¥B)▼ Net Debt
CashInv. Sec.Debt
151US$966M439US$2.80B'22/3133US$847M403US$2.57B'23/3172US$1.09B497US$3.17B'24/3165US$1.05B496US$3.16B'25/3107US$680M483US$3.08B'26/3
Shareholders
Top 10 hold 44.6%
1
The Master Trust Bank of Japan, Ltd. (Trust Account)
16.92%
2
Custody Bank of Japan, Ltd. (Trust Account)
6.57%
3
Nippon Life Insurance Company
5.36%
4
THE CHASE MANHATTAN BANK,N.A. LONDONSECS LENDING OMNIBUS ACCOUNT (Standing Proxy: Mizuho Bank, Ltd.)
3.25%
5
The Dai-ichi Life Insurance Company, Limited
2.73%
6
STATE STREET BANK AND TRUST COMPANY 505001 (Standing Proxy: Mizuho Bank, Ltd.)
2.62%
7
Meiji Yasuda Life Insurance Company
2.37%
8
JP MORGAN CHASE BANK 385642 (Standing Proxy: Mizuho Bank, Ltd.)
1.98%
9
JP MORGAN CHASE BANK 385781 (Standing Proxy: Mizuho Bank, Ltd.)
1.45%
10
GOVERNMENT OF NORWAY (Standing Proxy: Citibank, N.A., Tokyo Branch)
1.33%
Management
10 officers
Kimie IWATA
Outside Director
Apr 1971 Joined Ministry of Labour (now Ministry of Health, Labour and Welfare) Jan 2001 Director-General, Employment Equality and Children and Families Bureau, Ministry of Health, Labour and Welfare Jun 2004 Director and Executive Officer, Shiseido Company, Limited Apr 2007 Director and Managing Executive Officer, Shiseido Company, Limited Apr 2008 Director and Executive Vice President, Executive Officer, Shiseido Company, Limited Jun 2008 Representative Director and Executive Vice President, Executive Officer, Shiseido Company, Limited Mar 2012 Outside Audit & Supervisory Board Member, Kirin Holdings Company, Limited Apr 2012 Director, Shiseido Company, Limited Jul 2012 Outside Director, Japan Airlines Co., Ltd. Oct 2015 Audit Committee Member, Tokyo Metropolitan Government Mar 2016 Outside Director, Kirin Holdings Company, Limited Jun 2018 Outside Director, Sumitomo Corporation Jun 2019 Outside Director, Resona Holdings, Inc. (current) Jun 2019 Outside Director, Ajinomoto Co., Inc. (current)
1947-04-06
Joji NAKAYAMA
Outside Director
Apr 1979 Joined Suntory Limited Mar 2000 Director, Suntory Limited Dec 2002 President, Daiichi Suntory Pharma Co., Ltd. Jun 2003 Director, Daiichi Pharmaceutical Co., Ltd. Jun 2010 Representative Director, President and CEO, Daiichi Sankyo Company, Limited Apr 2017 Representative Director, Chairman and CEO, Daiichi Sankyo Company, Limited Jun 2019 Representative Director, Chairman, Daiichi Sankyo Company, Limited Jun 2020 Full-time Senior Advisor, Daiichi Sankyo Company, Limited Jun 2021 Outside Director, Ajinomoto Co., Inc. (current)
1950-05-11
Asami INTO
Outside Director
Apr 1985 Joined Daiwa Securities Co. Ltd. Aug 1989 Transferred to Daiwa Institute of Research Ltd. Apr 2004 Transferred to Daiwa Securities SMBC Co. Ltd. (now Daiwa Securities Co. Ltd.) Apr 2006 Outside Director, Daiwa Investor Relations Co., Ltd. Oct 2007 Transferred to Daiwa Institute of Research Ltd. Apr 2009 Executive Officer, General Manager, Consulting Division, Daiwa Institute of Research Ltd. Aug 2010 Executive Officer, General Manager, First Consulting Division, Daiwa Institute of Research Ltd. Apr 2013 Managing Executive Officer, Deputy General Manager, Research Division, Daiwa Institute of Research Ltd. Apr 2016 Senior Managing Director, Daiwa Institute of Research Ltd. Dec 2016 Member, Securities and Exchange Surveillance Commission Jun 2020 Outside Audit & Supervisory Board Member, Ajinomoto Co., Inc. Jun 2020 Outside Director, Tokyo Gas Co., Ltd. Jun 2021 Outside Director, Fujitec Co., Ltd. Jun 2021 Outside Director, Ajinomoto Co., Inc. (current) Jun 2023 Outside Director, Mitsui Fudosan Co., Ltd. (current)
1962-11-06
Shigeo NAKAMURA
Director
Apr 1992 Joined Ajinomoto Co., Inc. Jun 2019 Executive Officer, Ajinomoto Co., Inc. Jun 2019 President, Ajinomoto Fine-Techno Co., Inc. Jun 2021 Executive Fellow, Ajinomoto Co., Inc. Jun 2021 General Manager, Chemical Products Department, Amino Science Division, Ajinomoto Co., Inc. Apr 2022 Senior Executive Officer, Ajinomoto Co., Inc. Apr 2022 President, Ajinomoto do Brasil Ltda. Feb 2025 Representative Executive Officer, President and Chief Executive Officer, Ajinomoto Co., Inc. (current) Jun 2025 Director, Ajinomoto Co., Inc. (current)
1967-10-13
Hiroshi SHIMOHO
Director
Apr 1988 Joined Ajinomoto Co., Inc. Feb 2006 Chairman, Hong Kong Amoy Food Limited Jul 2013 General Manager, Corporate Strategy Department, Ajinomoto Co., Inc. Jul 2015 Vice President, Ajinomoto Europe Jun 2019 Director, Managing Executive Officer, Ajinomoto Frozen Foods Co., Ltd. Jun 2019 General Manager, Marketing Division, Ajinomoto Frozen Foods Co., Ltd. Apr 2022 President, Ajinomoto Foods North America, Inc. Apr 2026 Representative Executive Officer and Vice President, Ajinomoto Co., Inc. (current) Apr 2026 Chief Human Resources Officer, Ajinomoto Co., Inc. (current) Jun 2026 Director, Ajinomoto Co., Inc. (current)
1965-10-15
Tsuyoshi SAITO
Director
Apr 1992 Joined Corporate Directions, Inc. Aug 2003 Joined Industrial Revitalization Corporation of Japan Nov 2004 Outside Director, OCC Corporation Jun 2005 Outside Director, Kanebo, Ltd. Aug 2005 Managing Director, Industrial Revitalization Corporation of Japan Apr 2007 Partner and Managing Director, IGPI Co., Ltd. Jan 2015 Director, IGPI Co., Ltd. Jan 2019 Chief Development Officer, Misaki Investment Co., Ltd. Sep 2019 Executive Officer, Chief Engagement Officer, Misaki Investment Co., Ltd. Jun 2021 Representative Director, IMECS Co., Ltd. (current) Jul 2021 Advisor, Assistant to Chief Transformation Officer, Ajinomoto Co., Inc. Apr 2023 Senior Executive Officer, Ajinomoto Co., Inc. (current) Apr 2023 Chief Transformation Officer, Ajinomoto Co., Inc. (current) Jun 2023 Director, Ajinomoto Co., Inc. (current)
1966-10-29
Takumi MATSUZAWA
Director
Apr 1987 Joined Ajinomoto Co., Inc. Jul 2003 Director, Ajinomoto (Thailand) Co., Ltd. Jul 2011 Group Leader, Global HR Group, Human Resources Department, Ajinomoto Co., Inc. Jul 2014 Senior Managing Director, Ajinomoto do Brasil Ltda. Jun 2017 Executive Officer, Ajinomoto Co., Inc. Jun 2017 General Manager, Global Human Resources Department, Ajinomoto Co., Inc. Apr 2018 General Manager, Human Resources Department, Ajinomoto Co., Inc. Jun 2021 Executive Officer, Ajinomoto Co., Inc. Jun 2021 In charge of Internal Control and Audit Committee, Ajinomoto Co., Inc. Jul 2021 General Manager, Internal Audit Department, Ajinomoto Co., Inc. Apr 2023 Senior Executive Officer, Ajinomoto Co., Inc. Jun 2023 Director and Full-time Audit and Supervisory Committee Member, Ajinomoto Co., Inc. (current)
1964-06-27
Yoko HATTA
Outside Director
Aug 1988 Joined Peat Marwick Main & Co. (now KPMG LLP, New York office) Aug 1997 Partner, Peat Marwick Main & Co. (New York office) Sep 2002 Partner, KPMG Peat Marwick Tax Corporation (now KPMG Tax Corporation) Jun 2008 Auditor, International Christian University Jun 2015 Outside Audit & Supervisory Board Member, Kobayashi Pharmaceutical Co., Ltd. Jun 2016 Outside Audit & Supervisory Board Member, IHI Corporation Jun 2016 Outside Audit & Supervisory Board Member, Nippon Paper Industries Co., Ltd. Jun 2019 Outside Director, Nippon Paper Industries Co., Ltd. (current) Jun 2022 Outside Director, Koei Chemical Co., Ltd. (current) Jun 2022 Outside Director, Ajinomoto Co., Inc. (current)
1952-06-08
Scott DAVIS
Outside Director
Apr 1990 Full-time Research Fellow, Japan Institute of Labour (now Japan Institute for Labour Policy and Training) Apr 2001 Professor, Department of International Business, Faculty of International Economics, Reitaku University May 2004 Outside Director, Ito-Yokado Co., Ltd. Sep 2005 Outside Director, Seven & i Holdings Co., Ltd. Mar 2006 Outside Audit & Supervisory Board Member, Nissen Co., Ltd. Apr 2006 Professor, Department of International Business, Faculty of Business, Rikkyo University Mar 2011 Outside Director, Bridgestone Corporation (current) Jun 2014 Outside Director, SOMPO Holdings, Inc. (current) Jun 2023 Outside Director, Ajinomoto Co., Inc. (current) Apr 2026 Specially Appointed Professor, Department of International Business, Faculty of Business, Rikkyo University (current)
1960-12-26
Yukako AGATSUMA
Outside Director
Apr 1988 Registered as attorney in Japan Apr 1988 Joined Nagashima Ohno & Tsunematsu Feb 1993 Registered as attorney in New York State, USA Mar 1997 Joined Philip Morris K.K. (now Philip Morris Japan GK) Nov 1998 Joined Mitsui Yasuda Law Office Jan 2002 Partner, Mitsui Yasuda Law Office Jul 2004 Partner, Ito Mitomi Law Office (now Morrison & Foerster) Jul 2014 Partner, Hayabusa Asuka Law Office Oct 2015 Partner, PwC Legal Japan Jan 2016 Representative Partner, PwC Legal Japan Jul 2020 Partner, PwC Legal Japan Jun 2022 Outside Audit & Supervisory Board Member, Odakyu Electric Railway Co., Ltd. Jul 2022 Partner, Isshiki Law Office (Foreign Law Joint Enterprise) (current) Jun 2023 Outside Audit & Supervisory Board Member, JFE Systems Corporation (current) Jun 2024 Outside Director, Ajinomoto Co., Inc. (current) Jun 2024 Outside Director, Odakyu Electric Railway Co., Ltd. (current)
1962-06-17
Large Shareholding Reports
BlackRock Fund Advisors
2026-04-03
1.51%→1.91%
Capital Research and Management Company
2025-12-22
5.30%→3.86%
Amova Asset Management Co., Ltd.
2025-11-07
2.64%
Amova Asset Management Co., Ltd.
2025-09-19
2.64%→2.51%
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-08-06
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-06-12
Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2026-04-03
Large Shareholding Report
TDnet
2026-02-05
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2025-12-22
Large Shareholding Report
EDINET
2025-11-07
Large Shareholding Report
EDINET
2025-11-06
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2025-09-19
Large Shareholding Report
TDnet
2025-08-04
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-06-18
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-02-03
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-12
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-08-05
Q1 Earnings Flash
FY ending Mar 2025
EDINET
2024-06-25
Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINET
2024-02-09
Quarterly Securities Report
Period: Oct 2023 – Dec 2023
EDINET
2023-11-09
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
EDINET
2023-08-08
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-06-27
Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINETAmended
2023-03-31
Amended Annual Securities Report
Period: Apr 2021 – Mar 2022
EDINET
2023-02-28
中期経営計画
EDINET
2023-02-08
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINET
2022-11-09
Quarterly Securities Report
EDINET
2022-08-08
Quarterly Securities Report
EDINET
2022-06-23
Annual Securities Report
EDINET
2022-02-10
Quarterly Securities Report
EDINET
2021-11-09
Quarterly Securities Report
EDINET
2021-08-06
Quarterly Securities Report
EDINET
2021-06-23
Annual Securities Report
EDINET
2021-02-10
Quarterly Securities Report
EDINET
2020-07-14
中期経営計画
Ask AI
I have this company's financials, ownership, and management on hand. Ask me anything from an M&A perspective.
End of Preview

Try the full product

Free demo (no time limit, up to 10 companies). Explore Comps, DCF, LBO, WACC on every screen. Excel export is on the paid plan.

Free Demo (No Time Limit, 10 Companies) →