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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Megmilk Snow Brand Co., Ltd.    2270   JP3947800003

MEGMILK SNOW BRAND CO., LTD.

(2270)
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Megmilk Snow Brand : Japanese milk cartons adopting plastic caps amid pandemic

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09/18/2020 | 10:08pm EDT

More Japanese milk manufacturers are switching to cartons with plastic caps amid the coronavirus pandemic as a way to reduce possible infection as consumers no longer need come into contact with the pouring surface when they open the container.

Megmilk Snow Brand Co. and Meiji Holdings Co. are among major Japanese beverage makers that are moving over to 900-milliliter cartons with screw caps, with the move coming at a time when many manufacturers are in the process of upgrading their equipment.

COVID-19, the respiratory disease caused by the coronavirus, spreads through small droplets that are expelled when an infected person coughs, sneezes or speaks, according to the World Health Organization.

These droplets can land and stay on objects, infecting people who touch them and then go on to touch their eyes, nose, or mouth.

Megmilk Snow Brand launched its "Tokuno" rich milk, sealed with a plastic cap, on Sept. 8, after adopting caps for its other brands such as "Mainichi Honebuto MBP" and "Accadi Onakani Yasashiku" from April.

Meiji Holdings has also replaced the old carton for its "Meiji Oishii Gyunyu" brand with a screw-cap version.

The new cartons have been welcomed by the elderly, who are said to be more vulnerable to the virus and who are also the main buyers of milk, according to Nippon Paper Industries Co., a paper and pulp manufacturer and supplier of carton-making machines.

Some consumers regard the switch as an effective price hike, however, as milk has previously been sold in 1,000-ml cartons. A Megmilk spokeswoman said the content was reduced to keep the price unchanged despite value added to the products by adopting caps.

The new package pursued the added values of "both deliciousness and functionality, such as cleanliness and easiness to pour," she said.

Nippon Paper Industries expects sales of carton-making machines that can adapt to the screw-cap design to increase by half from a year earlier in the fiscal year ending March 2021 and reach 10 billion yen ($95.3 million) in five years.

While most cartons sold overseas have plastic caps, about 90 percent of paper cartons for drinks in the Japanese market currently do not, according to the paper manufacturer.

Japanese drink makers kept using machines for old-type cartons, as their capital spending dwindled following the collapse of the asset-inflated bubble economy in the 1990s.

"Cutting costs had been more important than usability," a company official said, adding that the old folding type will be gradually replaced with those with plastic caps.

==Kyodo

© Kyodo News International, Inc., source Newswire


Stocks mentioned in the article
ChangeLast1st jan.
MEGMILK SNOW BRAND CO., LTD. -0.53% 2271 End-of-day quote.-8.87%
MEIJI HOLDINGS CO., LTD. 0.13% 7440 End-of-day quote.0.81%
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Financials
Sales 2021 617 B 5 881 M 5 881 M
Net income 2021 13 252 M 126 M 126 M
Net Debt 2021 53 300 M 508 M 508 M
P/E ratio 2021 11,6x
Yield 2021 1,78%
Capitalization 154 B 1 467 M 1 465 M
EV / Sales 2021 0,34x
EV / Sales 2022 0,33x
Nbr of Employees 5 367
Free-Float 76,7%
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Mean consensus HOLD
Number of Analysts 3
Average target price 2 656,67 JPY
Last Close Price 2 271,00 JPY
Spread / Highest target 36,5%
Spread / Average Target 17,0%
Spread / Lowest Target -0,04%
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NameTitle
Keiji Nishio President & Representative Director
Takao Nakajima Managing Executive Officer & Head-Finance
Kohaku Kawasaki Managing Executive Officer, Head-R&D
Shinya Kosaka Director & Senior Managing Executive Officer
Toshio Itabashi Director & Head-Marketing
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