N 
Nippon Beet Sugar Manufacturing Co 2108.T · JPY
Consumer Staples · Tokyo Stock Exchange · 🇯🇵 Japan
1,755
+2.93%
Close of 9 Nov 2026, in JPY
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At a glance
Figures in JPY, from our data supplier.
Revenue
¥68.70bn
FY2017FY2026
Net income
¥5.03bn
FY2017FY2026
Free cash flow
¥1.26bn
FY2017FY2026
Shareholders' equity
¥77.52bn
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ¥68.70bn | ¥64.80bn | ¥69.30bn | ¥65.01bn | ¥58.49bn | ¥54.79bn | ¥57.02bn | ¥58.00bn | ¥58.90bn | ¥58.13bn |
| Gross profit | ¥13.94bn | ¥13.04bn | ¥13.61bn | ¥14.97bn | ¥15.12bn | ¥16.22bn | ¥15.88bn | ¥15.51bn | ¥14.88bn | ¥16.03bn |
| Research and development | ¥533.0m | ¥557.0m | ¥581.0m | ¥628.0m | ¥644.0m | ¥648.0m | ¥603.0m | ¥550.0m | ¥550.0m | ¥593.0m |
| Operating income | ¥122.0m | ¥537.0m | ¥912.0m | ¥1.63bn | ¥2.23bn | ¥1.89bn | ¥1.61bn | ¥1.58bn | ¥1.58bn | ¥2.18bn |
| Net income | ¥5.03bn | ¥2.70bn | ¥1.81bn | ¥1.26bn | ¥1.98bn | ¥1.64bn | ¥1.34bn | ¥1.32bn | ¥1.22bn | ¥1.51bn |
| Diluted earnings per share | 420.76 | 223.60 | 145.43 | 96.86 | 146.36 | 117.15 | 94.35 | 93.24 | 86.17 | 106.88 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | ¥97.70bn | ¥101.22bn | ¥103.02bn | ¥103.15bn | ¥100.46bn | ¥97.39bn | ¥96.41bn | ¥98.30bn | ¥99.11bn | ¥98.95bn |
| Cash and short-term investments | ¥8.05bn | ¥8.36bn | ¥12.85bn | ¥10.59bn | ¥12.16bn | ¥7.38bn | ¥11.39bn | ¥9.48bn | ¥11.58bn | ¥14.18bn |
| Total liabilities | ¥20.18bn | ¥27.38bn | ¥30.48bn | ¥35.02bn | ¥32.54bn | ¥28.93bn | ¥29.45bn | ¥28.86bn | ¥30.84bn | ¥30.15bn |
| Debt | ¥1.51bn | ¥9.06bn | ¥10.96bn | ¥18.77bn | ¥14.90bn | ¥11.91bn | ¥12.03bn | ¥10.01bn | ¥12.01bn | ¥11.77bn |
| Shareholders' equity | ¥77.52bn | ¥73.83bn | ¥72.53bn | ¥68.13bn | ¥67.92bn | ¥68.46bn | ¥66.95bn | ¥69.44bn | ¥68.26bn | ¥68.82bn |
| Shares outstanding | 12m | 12m | 12m | 13m | 13m | 14m | 14m | 14m | 14m | 14m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | ¥4.27bn | −¥3.09bn | ¥13.04bn | −¥1.82bn | ¥2.58bn | −¥181.0m | ¥2.99bn | ¥2.54bn | ¥1.72bn | ¥5.54bn |
| Capital spending | −¥3.02bn | −¥5.87bn | −¥4.13bn | −¥2.83bn | −¥2.24bn | −¥2.65bn | −¥2.83bn | −¥2.40bn | −¥5.22bn | −¥2.22bn |
| Free cash flow | ¥1.26bn | −¥8.96bn | ¥8.92bn | −¥4.65bn | ¥336.0m | −¥2.83bn | ¥159.0m | ¥142.0m | −¥3.50bn | ¥3.32bn |
| Dividends paid | −¥991.0m | −¥703.0m | −¥665.0m | −¥672.0m | −¥698.0m | −¥708.0m | −¥1.13bn | −¥705.0m | −¥705.0m | −¥703.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | ¥15.62bn | ¥17.45bn | ¥18.27bn | ¥15.81bn | ¥17.17bn | ¥18.18bn | ¥17.43bn | ¥14.27bn |
| Gross profit | ¥3.70bn | ¥4.60bn | ¥2.65bn | ¥3.27bn | ¥3.42bn | ¥4.70bn | ¥1.97bn | ¥3.04bn |
| Operating income | ¥243.0m | ¥1.23bn | −¥1.03bn | −¥60.0m | −¥89.0m | ¥1.37bn | −¥1.33bn | ¥212.0m |
| Net income | ¥331.0m | ¥4.46bn | −¥607.0m | ¥1.02bn | ¥167.0m | −¥2.29bn | −¥819.0m | ¥1.0m |
| Diluted earnings per share | 27.68 | 372.52 | -50.21 | 84.13 | 13.81 | -189.77 | -65.77 | 0.08 |
| Total assets | ¥94.38bn | ¥97.70bn | ¥113.59bn | ¥95.90bn | ¥98.03bn | ¥101.22bn | ¥120.22bn | ¥99.67bn |
| Cash and short-term investments | ¥5.32bn | ¥8.05bn | ¥7.48bn | ¥10.68bn | ¥10.78bn | ¥8.36bn | ¥10.42bn | ¥16.65bn |
| Debt | ¥4.0m | ¥1.51bn | ¥11.52bn | ¥24.0m | ¥4.53bn | ¥9.05bn | ¥13.54bn | ¥74.0m |
| Shareholders' equity | ¥76.22bn | ¥77.52bn | ¥74.19bn | ¥73.68bn | ¥73.13bn | ¥73.83bn | ¥76.13bn | ¥76.74bn |
Financial ratios
Data as of 17 Sept 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Gross margin | 20.3% | 20.1% | 19.6% | 23.0% | 25.8% | 29.6% |
| Operating margin | 0.2% | 0.8% | 1.3% | 2.5% | 3.8% | 3.5% |
| Net margin | 7.3% | 4.2% | 2.6% | 1.9% | 3.4% | 3.0% |
| Return on equity | 6.5% | 3.7% | 2.5% | 1.8% | 2.9% | 2.4% |
| Return on assets | 5.2% | 2.7% | 1.8% | 1.2% | 2.0% | 1.7% |
| Free cash flow yield | 11.6% | 4.4% | 26.3% | 1.5% | 6.8% | 3.4% |
| Revenue growth | 6.0% | -6.5% | 6.6% | 11.1% | 6.8% | -3.9% |
| Earnings growth | 86.2% | 49.3% | 43.7% | -36.2% | 20.3% | 22.5% |
| Current ratio | 4.20x | 3.12x | 2.60x | 2.22x | 2.43x | 2.61x |
| Debt to equity | 0.02x | 0.12x | 0.15x | 0.28x | 0.22x | 0.17x |
| Equity ratio | 79.3% | 72.9% | 70.4% | 66.1% | 67.6% | 70.3% |
| Interest coverage | 1.26x | 6.63x | 8.85x | 13.26x | 19.06x | 17.35x |
| R&D as a share of sales | 0.8% | 0.9% | 0.8% | 1.0% | 1.1% | 1.2% |
| Buybacks as a share of market value | 1.1% | 2.9% | 4.3% | 3.6% | 3.7% | 1.3% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 1.9% | 4.6% | 1.7% |
| Operating income | -57.9% | -42.2% | -24.4% |
| Net income | 58.7% | 25.1% | 14.0% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 20.2% | 20.7% | 22.8% | 24.5% |
| Operating margin | 0.5% | 1.2% | 1.9% | 2.4% |
| Net margin | 5.8% | 4.0% | 3.8% | 3.2% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 4.2 | 5.7 | 5.6 | 6.7 | 3.8 | 4.8 | 5.7 | 7.3 | 7.0 | 8.5 |
| Price to sales | 0.3 | 0.2 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.2 | 0.1 | 0.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 36 years. Last went ex-dividend on 30 Mar 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 80.00 | 18.333 | 16.667 | 16.667 | 16.667 | 16.667 | 26.667 | 16.667 |
- 10-to-1 reverse split · 28 Sept 2016
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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