1. Japan Stocks

  2. •

    Consumer Defensive

  3. •

    Food Confectioners
Iwatsuka Confectionery Co., Ltd.

Iwatsuka Confectionery Co., Ltd.

2221.T
Iwatsuka Confectionery Co., Ltd.JP flagTokyo Stock Exchange
3,065.00
JPY
-10.00
- -
31.44BMarket Cap
Iwatsuka Confectionery Co., Ltd.
2221.T
(Tokyo Stock Exchange)

Recent

price

3,065.00

P/E

ratio

- -

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
FRC
1,850.75
1,870.73
1,790.83
1,831.13
1,916.26
1,960.65
2,038.83
2,122.89
2,050.17
2,037.95
1,977.95
1,609.92
3,637.65
2,115.28
2,398.73
2,812.12
1,133.51
Revenue per Share
32.34
13.49
66.11
121.9
147.79
25.81
109.1
91.33
116.98
157.87
178.96
73.88
708.51
188.21
279.63
198.11
44.04
Basic EPS, GAAP
26.6
-35.57
179.22
157.2
103.75
41.11
7.76
26.54
160.45
24.87
-216.95
59.1
666.95
81.03
186.7
5.45
- -
Free Cash Flow per Basic Share
6.5
6.55
6.52
6.51
9.01
9
9.08
9.04
10.04
11.04
13.04
15.05
32.13
20.02
23.08
30.53
- -
Dividend per Share
699.99
709.08
770.08
885.68
1,032.26
1,055.79
1,022.27
1,258.27
1,364.78
1,511.61
1,677.53
1,736
4,148.23
2,403.41
2,659.37
2,864.38
2,607.86
Book Value per Share
2,851.96
3,958.44
5,847.14
6,288.76
5,798.17
4,362.32
4,255.77
4,651.8
5,016.65
4,657.38
4,994.12
6,211.68
11,054.44
6,124.53
6,523.55
6,801.6
6,650.82
Tangible Book Value per Share
12
12
11
11
11
11
11
11
11
11
11
11
6
10
10
10
10
Basic Weighted Avg Shares
21,381
21,547
20,587
21,044
22,014
22,378
23,026
23,792
22,977
22,840
22,168
18,044
20,386
22,000
24,954
28,849
11,791
Sales/Revenue/Turnover
-2.07
-2.07
0.69
2.08
2.08
1.75
1.62
0.28
0.04
0.76
0.82
-1.81
-1.05
2.74
3.27
3.01
4.41
Operating Margin (%)
820
838
907
826
806
873
968
1,066
1,182
1,138
894
1,289
1,357
1,441
1,581
1,722
- -
Depreciation Expense
374
155
760
1,401
1,698
295
1,232
1,024
1,311
1,769
2,006
828
3,971
1,958
2,909
2,032
458
Net Income, GAAP
60.82
72.94
40.72
41.02
40.93
87.05
28.33
27.93
28.72
29.63
28.81
30.17
28.67
30.4
26.06
29.78
30.88
Effective Tax Rate (%)
1.75
0.72
3.69
6.66
7.71
1.32
5.35
4.3
5.71
7.75
9.05
4.59
19.48
8.9
11.66
7.04
3.89
Profit Margin (%)
1,210
-498
338
1,471
1,378
2,306
3,544
3,883
4,107
4,370
4,663
4,203
6,687
6,849
7,313
7,590
7,015
Working Capital
1,600
1,200
800
400
- -
- -
- -
- -
- -
15
1,600
1,507
806
405
4
- -
205
LT Debt
33,045
45,704
67,337
72,375
66,694
49,921
48,201
52,264
56,323
52,272
56,055
69,689
62,062
63,806
67,952
69,852
69,280
Total Equity
-0.46
-0.28
0.14
0.36
0.38
0.09
0.54
0.09
0.01
0.22
0.23
-0.35
-0.22
0.65
0.9
0.88
0.51
Return on Invested Capital (%)
3.25
1.34
6.39
12.38
14.01
2.31
9.97
7.63
8.77
10.96
10.62
3.95
17.32
7.81
10.81
7.08
1.73
Return on Capital (%)
4.71
1.91
8.93
14.72
15.41
2.46
10.44
7.98
8.92
10.98
11.22
4.33
18.6
8.11
11.05
7.12
1.77
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Mar'24
Jun'25
Sep'25
ST Debt
401
- -
401
LT Borrowings
405
- -
205
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
10
- -
10
Market Capitalization
30,823
27,065
26,712

Working Capital

FRC

•

in mil. unless spec.
Mar'24
Jun'25
Sep'25
Total Current Assets
11,633
- -
11,662
Cash, Cash Equivalents & STI
2,844
- -
4,689
Accounts Receivable, Net
5,400
- -
4,591
Inventories
2,003
- -
2,031
Total Current Liabilities
4,784
- -
4,646
Payables & Accruals
- -
- -
- -
ST Debt
401
- -
401
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
3.83%
5.1%
2.8%
Free Cash Flow
-10.1%
58.58%
-97.12%
Net Income, GAAP
66.63%
57.71%
-30.14%
Sales/Revenue/Turnover
3.06%
6.27%
15.61%
Total Cash Common Dividend
12.13%
16.71%
30.43%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
5,307
4,903
6,287
5,503
22,000
2025
- -
- -
- -
- -
24,954
2026
- -
- -
- -
- -
28,849

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
14.75
- -
- -
- -
188.21
2025
- -
- -
- -
- -
279.63
2026
- -
- -
- -
- -
198.11

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
20.02
2025
- -
- -
- -
- -
23.08
2026
- -
- -
- -
- -
30.53
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Business
Iwatsuka Confectionery Co., Ltd. manufactures and sells rice crackers and related confectionery products known as beika in Japan. The company offers a diverse portfolio of rice-based snacks under its Iwatsuka brand, including Kuromame Senbei (black bean rice crackers), Aji Shirabe (savory flavor assortment), Inaka no Okaki series (country-style rice crackers), Otonano Otsumami series (adult snack bites), Fuwatto series (soft textured crackers), kinako mochi (soybean flour rice cakes), Niigata Nure Senbei and Niigata Nure Okaki (wet rice crackers), Ganbare! Yasai Kazoku (vegetable rice crackers with carrot, cabbage and spinach), Okosama Senbei (soft rice crackers for babies and toddlers), Ganbare! Kozakana Kazoku (fish rice crackers with sardine), THE Hitotsumami series (such as ebi black pepper and limited flavors), Banzai Sansho, as well as limited-edition items like kinako mochi in Kikyoshin Genbi taste and Fuwatto okaka onigiri flavor; through subsidiaries, it engages in agricultural product sales, karinto production, food imports and overseas rice cracker distribution. Founded in 1947 as Iwatsuka Agricultural Processing Plant and renamed Iwatsuka Confectionery Co., Ltd. in 1960, the company is headquartered in Nagaoka, Niigata Prefecture, Japan, with operations centered domestically and multiple production facilities emphasizing 100% Japanese rice. In recent developments, Iwatsuka Confectionery authorized and completed an equity buyback plan in September 2025, repurchasing 16,000 shares for ¥48.96 million to support shareholder returns. The company launched limited-edition products including THE Hitotsumami in smoked cheese flavor and kinako mochi in Kikyoshin Genbi taste, alongside collaborations such as a 2024 tie-up with travel guide Chikyu no Arukikata for global spice-inspired Hitotsumami variants (Garlic Shrimp, Tom Yam Kung, Harissa Chicken) and a Sapporo Ichiban ramen flavor supervised by Banzai Sansho.