Cash flow Ajinomoto Co., Inc.

Stocks

2802

JP3119600009

Food Processing

Market Closed - Japan Exchange Other stock markets 02:30:00 2026-07-10 am EDT			5-day change	1st Jan Change
5,731.00 ^JPY	+0.17%		-7.07%	+72.78%

Jul. 02	Tranche Update on Ajinomoto Co., Inc.'s Equity Buyback Plan announced on November 6, 2025.	CI
Jun. 30	Ajinomoto Co., Inc. Relocates Its Head Office to Chuo-Ku, Tokyo	CI

fc801c6323f37fb7999333c.lkmrkJNGNpB2zXsneBZUXPHwbLS67ursuxclmE84J9Q.2GTZ4f4QUt0xpTgeFFc4Fr-JPN3M3I6OjWZJzXtVf4X8Fvrg6gdkpRmSLg

Published financial data: AJINOMOTO CO., INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2022	2023	2024	2025	2026
Revenues	1,149B	1,359B	1,439B	1,531B	1,584B
Total Revenues	1,149B	1,359B	1,439B	1,531B	1,584B
Cost of Goods Sold, Total	723B	889B	928B	980B	987B
Gross Profit	426B	470B	511B	551B	597B
Selling General & Admin Expenses, Total	281B	314B	340B	367B	392B
Provision for Bad Debts	31M	3M	113M	16M	48M
R&D Expenses	24.84B	25.87B	28.77B	30.92B	32.11B
Other Operating Expenses	-2.02B	412M	1.73B	6.1B	12.51B
Other Operating Expenses, Total	304B	340B	370B	404B	437B
Operating Income	122B	131B	141B	147B	160B
Interest Expense, Total	-3.59B	-4.1B	-5.09B	-8.62B	-8.5B
Interest And Investment Income	2.28B	4.36B	6.5B	7.19B	7.16B
Net Interest Expenses	-1.31B	260M	1.41B	-1.44B	-1.34B
Income (Loss) On Equity Invest.	985M	4.33B	4.73B	6.31B	8.11B
Currency Exchange Gains (Loss)	-2.12B	-2.16B	-9.56B	-3.54B	1.42B
Other Non Operating Income (Expenses)	-244M	-8.08B	-1.78B	-2.27B	-858M
EBT, Excl. Unusual Items	119B	125B	136B	146B	168B
Restructuring Charges	-	-	-	-	-
Gain (Loss) On Sale Of Investments	-	-	-	-	-
Gain (Loss) On Sale Of Assets	10.68B	28.99B	9.87B	-3.75B	36.74B
Asset Writedown	-7.44B	-13.89B	-3.74B	-33.85B	-8.45B
Legal Settlements	-	-	-	-	-
EBT, Incl. Unusual Items	122B	140B	142B	108B	196B
Income Tax Expense	42.24B	39.86B	40.01B	27.56B	51.05B
Earnings From Continuing Operations	80.23B	100B	102B	80.77B	145B
Earnings Of Discontinued Operations	-	-	-	-	-
Net Income to Company	80.23B	100B	102B	80.77B	145B
Minority Interest	-4.5B	-6.1B	-14.91B	-10.5B	-10.38B
Net Income - (IS)	75.72B	94.06B	87.12B	70.27B	135B
Net Income to Common Incl Extra Items	75.72B	94.06B	87.12B	70.27B	135B
Net Income to Common Excl. Extra Items	75.72B	94.06B	87.12B	70.27B	135B
Per Share Items
Net EPS - Basic	69.71	87.99	83.72	69.77	138.36
Basic EPS - Continuing Operations	69.71	87.99	83.72	69.77	138.36
Basic Weighted Average Shares Outstanding	1.09B	1.07B	1.04B	1.01B	973M
Net EPS - Diluted	69.71	87.98	83.7	69.77	138.36
Diluted EPS - Continuing Operations	69.71	87.98	83.7	69.77	138.36
Diluted Weighted Average Shares Outstanding	1.09B	1.07B	1.04B	1.01B	973M
Normalized Basic EPS	64.45	67.33	67.29	80.13	97.09
Normalized Diluted EPS	64.45	67.33	67.28	80.13	97.09
Dividend Per Share	26	34	37	40	48
Payout Ratio	36.02	33.63	44.08	55.69	32.05
American Depositary Receipts Ratio (ADR)	1	1	1	1	1
Supplemental Items
EBITDA	188B	202B	219B	233B	249B
EBITA	122B	131B	141B	147B	160B
EBIT	122B	131B	141B	147B	160B
Effective Tax Rate - (Ratio)	34.49	28.47	28.17	25.44	26.03
Normalized Net Income	70.01B	71.98B	70.03B	80.71B	94.51B
Interest Capitalized	16M	-	-	-	-
Non-Cash Pension Expense	732M	2.78B	1.08B	471M	284M
Supplemental Operating Expense Items
Selling and Marketing Expenses	169B	186B	202B	212B	225B
General and Administrative Expenses	112B	127B	138B	155B	167B
Research And Development Expense From Footnotes	24.84B	25.87B	28.77B	30.92B	32.11B

Fiscal Period: March	2022	2023	2024	2025	2026
Assets
Cash And Equivalents	151B	133B	172B	165B	107B
Total Cash And Short Term Investments	151B	133B	172B	165B	107B
Accounts Receivable, Total	162B	164B	186B	174B	194B
Other Receivables	6.02B	12.67B	22.5B	12.53B	7.66B
Total Receivables	168B	176B	208B	187B	202B
Inventory	219B	270B	287B	287B	319B
Other Current Assets, Total	42.19B	36.55B	42.9B	62.9B	76.97B
Total Current Assets	581B	616B	710B	701B	704B
Net Property Plant And Equipment	522B	537B	587B	581B	647B
Long-term Investments	178B	193B	225B	218B	231B
Goodwill	99.84B	92.11B	146B	118B	124B
Other Intangibles, Total	68.31B	65.92B	97.81B	92.17B	92.23B
Deferred Tax Assets Long-Term	7.02B	8.97B	8.56B	10.2B	13.84B
Other Long-Term Assets, Total	3M	3M	4M	2M	4M
Total Assets	1,457B	1,512B	1,774B	1,721B	1,812B
Liabilities
Accounts Payable, Total	200B	198B	232B	241B	304B
Accrued Expenses, Total	38.57B	42.14B	45.92B	47.22B	51.58B
Short-term Borrowings	8.22B	12.6B	151B	5.92B	6.35B
Current Portion of Long-Term Debt	34.41B	36.72B	37.72B	33.22B	34.08B
Current Portion of Leases	6.98B	6.66B	7.38B	6.82B	8.82B
Current Income Taxes Payable	10.08B	15.99B	7.03B	19.92B	18.66B
Other Current Liabilities	26.47B	27.55B	20.89B	16.35B	25.61B
Total Current Liabilities	325B	340B	501B	370B	449B
Long-Term Debt	271B	239B	254B	416B	381B
Long-Term Leases	43.08B	41.27B	41.81B	33.88B	52.5B
Pension & Other Post Retirement Benefits	38.77B	26.57B	28.77B	30.28B	33.94B
Deferred Tax Liability Non Current	20.94B	22.36B	44.47B	22.99B	28.33B
Other Non Current Liabilities	18.62B	19.68B	19.7B	34.42B	23.32B
Total Liabilities	717B	689B	890B	908B	968B
Common Stock, Total	79.86B	79.86B	79.86B	79.86B	79.86B
Additional Paid In Capital	-	-	-	-	-
Retained Earnings	616B	652B	658B	591B	588B
Treasury Stock	-1.37B	-1.34B	-49.16B	-32.67B	-67.34B
Comprehensive Income and Other	-7.87B	37.85B	126B	109B	170B
Total Common Equity	687B	769B	815B	747B	771B
Minority Interest	52.83B	54.29B	69.37B	66.47B	73.46B
Total Equity	740B	823B	884B	813B	844B
Total Liabilities And Equity	1,457B	1,512B	1,774B	1,721B	1,812B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	1.07B	1.05B	1.03B	994M	958M
ECS Total Common Shares Outstanding	1.07B	1.06B	1.03B	994M	958M
Book Value / Share	640.25	726.12	794.72	751.62	804.24
Tangible Book Value	519B	611B	571B	537B	555B
Tangible Book Value Per Share	483.52	576.84	556.88	540.16	578.58
Total Debt	364B	336B	492B	496B	483B
Net Debt	213B	204B	320B	331B	376B
Debt Equivalent of Unfunded Proj. Benefit Obligation	29.77B	6.4B	-27.56B	-47.13B	-79.23B
Minority Interest, Total (Incl. Fin. Div)	52.83B	54.29B	69.37B	66.47B	73.46B
Equity Method Investments, Total	115B	120B	129B	130B	139B
Inventories - Raw Materials, Total	66.15B	77.17B	85.39B	86.51B	95.18B
Inventories - Work In Process, Total	30.26B	33.03B	45.31B	39.03B	48.64B
Inventories - Finished Goods, Total	123B	160B	156B	161B	175B
Inventories - Others	1M	1M	1M	1M	1M
Full Time Employees	34.2K	34.62K	34.86K	34.86K	34.79K
Accumulated Allowance for Doubtful Accounts (Supple)	1.75B	1.32B	1.36B	791M	1.49B

Fiscal Period: March	2022	2023	2024	2025	2026
Net Income	122B	140B	142B	108B	196B
Depreciation & Amortization - CF	66.23B	71.82B	78.3B	86.46B	88.91B
Depreciation & Amortization, Total	66.23B	71.82B	78.3B	86.46B	88.91B
(Gain) Loss From Sale Of Asset	-1.18B	-13.7B	-5.91B	38.34B	-27.17B
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-	-
(Income) Loss On Equity Investments - (CF)	-985M	-4.33B	-4.73B	-6.31B	-8.11B
Net Cash From Discontinued Operations	-	-	-	-	-
Other Operating Activities, Total	-30.39B	-36.72B	-50.98B	-16.26B	-35.05B
Change In Accounts Receivable	6.06B	3.33B	-11.32B	6.12B	-11.79B
Change In Inventories	-17.91B	-41.61B	4.35B	-9.55B	-12.36B
Change In Accounts Payable	8.91B	-1.81B	24.22B	9.04B	55.66B
Change in Other Net Operating Assets	-7.62B	632M	-7.89B	-6.28B	-6.86B
Cash from Operations	146B	118B	168B	210B	239B
Capital Expenditure	-73.84B	-68.38B	-65.79B	-88.1B	-96.45B
Sale of Property, Plant, and Equipment	17.76B	40.26B	13.72B	1.73B	45.93B
Cash Acquisitions	-	-	-74.37B	-462M	-
Divestitures	1.14B	-	-	-	2.59B
Sale (Purchase) of Intangible assets	-6.88B	-4.66B	-4.35B	-6.91B	-7.9B
Investment in Marketable and Equity Securities, Total	2.21B	1.53B	-2.35B	15.82B	-28.01B
Other Investing Activities, Total	-1.97B	1.18B	702M	547M	-394M
Cash from Investing	-61.57B	-30.09B	-132B	-77.38B	-84.23B
Short Term Debt Issued, Total	-	4.07B	127B	-	284M
Long-Term Debt Issued, Total	10.49B	2.36B	50.34B	197B	-
Total Debt Issued	10.49B	6.43B	177B	197B	284M
Short Term Debt Repaid, Total	-33.95B	-	-	-144B	-
Long-Term Debt Repaid, Total	-18.33B	-34.3B	-36.93B	-37.5B	-33.53B
Total Debt Repaid	-52.28B	-34.3B	-36.93B	-181B	-33.53B
Repurchase of Common Stock	-40.11B	-30.02B	-91.34B	-90.7B	-130B
Common Dividends Paid	-27.27B	-31.63B	-38.41B	-39.14B	-43.16B
Common & Preferred Stock Dividends Paid	-27.27B	-31.63B	-38.41B	-39.14B	-43.16B
Other Financing Activities, Total	-13.89B	-21.54B	-17.26B	-23.02B	-19.19B
Cash from Financing	-123B	-111B	-6.75B	-138B	-226B
Foreign Exchange Rate Adjustments	8.89B	4.83B	9.87B	-1.59B	12.4B
Miscellaneous Cash Flow Adjustments	-	-	-1M	-	1M
Net Change in Cash	-30.16B	-18.68B	38.76B	-6.76B	-58.08B
Supplemental Items
Cash Interest Paid	3.23B	3.75B	4.83B	7.13B	7.31B
Cash Income Tax Paid (Refund)	31.68B	39.14B	54.54B	20.12B	39.33B
Levered Free Cash Flow	49.81B	33.68B	59.99B	97.71B	94.32B
Unlevered Free Cash Flow	52.05B	36.24B	63.17B	103B	99.63B
Change In Net Working Capital	9.66B	44.16B	33.18B	-19.86B	-14.75B
Net Debt Issued / Repaid	-41.79B	-27.87B	140B	15.16B	-33.25B

Fiscal Period: March	2022	2023	2024	2025	2026
Profitability
Return on Assets	5.28	5.5	5.37	5.25	5.68
Return on Total Capital	7	7.21	6.96	6.84	7.61
Return On Equity %	11.4	12.82	11.95	9.52	17.5
Return on Common Equity	11.59	12.92	11	9	17.75
Margin Analysis
Gross Profit Margin %	37.05	34.61	35.54	35.98	37.71
SG&A Margin	24.46	23.07	23.6	23.97	24.75
EBITDA Margin %	16.37	14.89	15.24	15.24	15.75
EBITA Margin %	10.61	9.61	9.8	9.6	10.13
EBIT Margin %	10.61	9.61	9.8	9.6	10.13
Income From Continuing Operations Margin %	6.98	7.37	7.09	5.28	9.16
Net Income Margin %	6.59	6.92	6.05	4.59	8.5
Net Avail. For Common Margin %	6.59	6.92	6.05	4.59	8.5
Normalized Net Income Margin	6.09	5.3	4.87	5.27	5.97
Levered Free Cash Flow Margin	4.33	2.48	4.17	6.38	5.96
Unlevered Free Cash Flow Margin	4.53	2.67	4.39	6.74	6.29
Asset Turnover
Asset Turnover	0.8	0.92	0.88	0.88	0.9
Fixed Assets Turnover	2.28	2.57	2.56	2.62	2.58
Receivables Turnover (Average Receivables)	7.08	8.34	8.24	8.51	8.6
Inventory Turnover (Average Inventory)	3.55	3.63	3.33	3.41	3.26
Short Term Liquidity
Current Ratio	1.79	1.81	1.42	1.9	1.57
Quick Ratio	0.99	0.91	0.76	0.95	0.69
Operating Cash Flow to Current Liabilities	0.45	0.35	0.34	0.57	0.53
Days Sales Outstanding (Average Receivables)	51.52	43.79	44.41	42.89	42.45
Days Outstanding Inventory (Average Inventory)	102.93	100.45	109.85	106.93	112.02
Average Days Payable Outstanding	93.98	77.32	83.25	88.04	97.6
Cash Conversion Cycle (Average Days)	60.47	66.93	71.01	61.78	56.87
Long Term Solvency
Total Debt/Equity	49.2	40.89	55.62	61	57.17
Total Debt / Total Capital	32.98	29.02	35.74	37.89	36.37
LT Debt/Equity	42.5	34.09	33.49	55.34	51.34
Long-Term Debt / Total Capital	28.48	24.19	21.52	34.38	32.66
Total Liabilities / Total Assets	49.23	45.56	50.18	52.75	53.42
EBIT / Interest Expense	33.99	31.85	27.71	17.03	18.88
EBITDA / Interest Expense	52.45	49.37	43.08	27.05	29.35
(EBITDA - Capex) / Interest Expense	31.87	32.69	30.16	16.84	18
Total Debt / EBITDA	1.93	1.66	2.24	2.13	1.94
Net Debt / EBITDA	1.13	1.01	1.46	1.42	1.51
Total Debt / (EBITDA - Capex)	3.18	2.51	3.2	3.42	3.16
Net Debt / (EBITDA - Capex)	1.86	1.52	2.08	2.28	2.46
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	7.27	18.25	5.89	6.35	3.47
Gross Profit, 1 Yr. Growth %	4.84	10.45	8.73	7.69	8.42
EBITDA, 1 Yr. Growth %	11.41	7.58	8.39	6.35	6.89
EBITA, 1 Yr. Growth %	15.19	7.12	8.05	4.08	9.28
EBIT, 1 Yr. Growth %	15.19	7.12	8.05	4.08	9.28
Earnings From Cont. Operations, 1 Yr. Growth %	21.04	24.86	1.86	-20.84	79.59
Net Income, 1 Yr. Growth %	27.45	24.22	-7.38	-19.34	91.65
Normalized Net Income, 1 Yr. Growth %	19.81	2.81	-2.71	15.25	17.1
Diluted EPS Before Extra, 1 Yr. Growth %	28.71	26.21	-4.86	-16.64	98.31
Accounts Receivable, 1 Yr. Growth %	0.18	0.81	13.35	-6.16	11.53
Inventory, 1 Yr. Growth %	16.27	23.01	6.41	-0.06	11.04
Net Property, Plant and Equip., 1 Yr. Growth %	7.37	2.73	9.48	-1.03	11.36
Total Assets, 1 Yr. Growth %	1.8	3.75	17.38	-3.01	5.3
Tangible Book Value, 1 Yr. Growth %	14.76	17.71	-6.51	-5.99	3.32
Common Equity, 1 Yr. Growth %	10.75	11.9	5.99	-8.33	3.22
Cash From Operations, 1 Yr. Growth %	-12.12	-19.19	42.87	24.88	14.03
Capital Expenditures, 1 Yr. Growth %	-3.96	-7.39	-3.8	33.93	9.47
Levered Free Cash Flow, 1 Yr. Growth %	23.38	-32.38	78.13	62.87	-3.47
Unlevered Free Cash Flow, 1 Yr. Growth %	21.75	-30.37	74.32	63.2	-3.37
Dividend Per Share, 1 Yr. Growth %	23.81	30.77	8.82	8.11	20
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	2.22	12.63	11.9	6.12	4.9
Gross Profit, 2 Yr. CAGR %	2.69	7.61	9.58	8.21	8.05
EBITDA, 2 Yr. CAGR %	9.3	9.48	7.99	7.36	6.62
EBITA, 2 Yr. CAGR %	12.98	11.08	7.58	6.05	6.65
EBIT, 2 Yr. CAGR %	12.98	11.08	7.58	6.05	6.65
Earnings From Cont. Operations, 2 Yr. CAGR %	68.04	22.93	12.77	-10.2	19.24
Net Income, 2 Yr. CAGR %	100.5	25.82	7.26	-13.57	24.33
Normalized Net Income, 2 Yr. CAGR %	20.85	10.99	0.01	5.89	16.17
Diluted EPS Before Extra, 2 Yr. CAGR %	104.47	27.45	9.58	-10.95	28.57
Accounts Receivable, 2 Yr. CAGR %	-6.24	0.5	6.9	3.13	2.31
Inventory, 2 Yr. CAGR %	10.81	19.59	14.41	3.13	5.34
Net Property, Plant and Equip., 2 Yr. CAGR %	7.22	5.03	6.05	4.09	4.98
Total Assets, 2 Yr. CAGR %	3.75	2.77	10.36	6.7	1.06
Tangible Book Value, 2 Yr. CAGR %	16.88	16.23	4.9	-6.25	-1.44
Common Equity, 2 Yr. CAGR %	12.89	11.32	8.9	-1.43	-2.73
Cash From Operations, 2 Yr. CAGR %	12.58	-15.73	7.45	33.58	19.33
Capital Expenditures, 2 Yr. CAGR %	0.09	-5.69	-5.61	13.51	21.08
Levered Free Cash Flow, 2 Yr. CAGR %	-18.9	-8.66	9.75	70.33	25.39
Unlevered Free Cash Flow, 2 Yr. CAGR %	-18.37	-7.93	10.17	68.67	25.58
Dividend Per Share, 2 Yr. CAGR %	27.48	27.24	19.29	8.47	13.9
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	0.64	7.3	10.34	10.02	5.23
Gross Profit, 3 Yr. CAGR %	2.49	5.21	7.98	8.95	8.28
EBITDA, 3 Yr. CAGR %	9.64	8.72	9.11	7.44	7.21
EBITA, 3 Yr. CAGR %	10.54	10.99	10.06	6.4	7.11
EBIT, 3 Yr. CAGR %	10.54	10.99	10.06	6.4	7.11
Earnings From Cont. Operations, 3 Yr. CAGR %	30.04	52.2	15.47	0.23	13.14
Net Income, 3 Yr. CAGR %	36.62	70.92	13.61	-2.46	12.71
Normalized Net Income, 3 Yr. CAGR %	14.25	14.51	6.22	4.85	9.5
Diluted EPS Before Extra, 3 Yr. CAGR %	41.64	74.09	15.62	0.03	16.29
Accounts Receivable, 3 Yr. CAGR %	-5.8	-3.95	4.61	2.35	5.86
Inventory, 3 Yr. CAGR %	5.84	14.74	15.02	9.37	5.7
Net Property, Plant and Equip., 3 Yr. CAGR %	7.25	5.7	6.49	3.63	6.46
Total Assets, 3 Yr. CAGR %	1.49	3.75	7.43	5.71	6.23
Tangible Book Value, 3 Yr. CAGR %	4.62	17.15	8.09	1.14	-3.16
Common Equity, 3 Yr. CAGR %	4.01	12.56	9.52	2.83	0.09
Cash From Operations, 3 Yr. CAGR %	5.7	0.8	0.49	12.97	26.71
Capital Expenditures, 3 Yr. CAGR %	1.71	-2.47	-5.07	6.06	12.14
Levered Free Cash Flow, 3 Yr. CAGR %	102.12	-23.67	14.11	25.18	40.96
Unlevered Free Cash Flow, 3 Yr. CAGR %	85.67	-22.59	13.9	25.59	40.09
Dividend Per Share, 3 Yr. CAGR %	17.57	28.56	20.78	15.44	12.18
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	1.04	3.39	5	6.83	8.13
Gross Profit, 5 Yr. CAGR %	1.93	3.43	5.27	6.4	8.01
EBITDA, 5 Yr. CAGR %	7.47	6.91	8.98	8.18	8.11
EBITA, 5 Yr. CAGR %	7.49	7	9.35	8.99	8.68
EBIT, 5 Yr. CAGR %	7.49	7	9.35	8.99	8.68
Earnings From Cont. Operations, 5 Yr. CAGR %	4.31	7.81	22.84	23.24	16.96
Net Income, 5 Yr. CAGR %	7.37	9.14	24.02	30.12	17.78
Normalized Net Income, 5 Yr. CAGR %	9.97	6.03	8.33	10.98	10.09
Diluted EPS Before Extra, 5 Yr. CAGR %	8.48	10.49	27.82	33.15	20.63
Accounts Receivable, 5 Yr. CAGR %	-2.73	-3.95	-0.91	-1.18	3.68
Inventory, 5 Yr. CAGR %	5.38	7.95	9.18	9.94	11.05
Net Property, Plant and Equip., 5 Yr. CAGR %	5.83	5.39	6.77	5.05	5.88
Total Assets, 5 Yr. CAGR %	1.54	1.18	4.95	4.92	4.83
Tangible Book Value, 5 Yr. CAGR %	2.47	5.41	4.73	7.16	4.17
Common Equity, 5 Yr. CAGR %	2.19	3.69	5.94	6.74	4.44
Cash From Operations, 5 Yr. CAGR %	5.98	-1.47	6.4	12.82	7.64
Capital Expenditures, 5 Yr. CAGR %	5.67	-0.67	-1.29	3.63	4.64
Levered Free Cash Flow, 5 Yr. CAGR %	5.14	2.84	58.31	5.23	18.5
Unlevered Free Cash Flow, 5 Yr. CAGR %	5.23	3.05	50.68	5.71	18.44
Dividend Per Share, 5 Yr. CAGR %	11.63	16.27	18.25	20.11	17.98