1. Japan Stocks

  2. •

    Consumer Defensive

  3. •

    Grocery Stores
Belc Co. Ltd.

Belc Co. Ltd.

9974.T
Belc Co. Ltd.JP flagTokyo Stock Exchange
6,720.00
JPY
-30.00
- -
139.98BMarket Cap
Belc Co. Ltd.
9974.T
(Tokyo Stock Exchange)

Recent

price

6,720.00

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
5,351.07
5,938.72
6,378.84
6,949.83
7,721.44
8,677.35
9,276.11
10,130.57
10,807.68
11,477.34
13,632.23
14,389.83
14,904.97
16,880.98
18,602.1
- -
17,820.9
Revenue per Share
127.76
162.41
162.65
191.31
213.97
251.21
297.65
328.85
314.9
349.65
423.07
440.27
461.02
512.25
594.12
- -
479.14
Basic EPS, GAAP
65.13
45.05
-248
-119.52
-19.7
66.9
147.55
226.72
287.54
69.68
152.83
10.16
-60.37
132.61
203.88
- -
- -
Free Cash Flow per Basic Share
25.97
33.98
35.99
38
42.03
45.96
55.93
64.02
70.02
70.93
80.99
88.95
92.02
99.07
116.04
- -
- -
Dividend per Share
1,306.88
1,435.32
1,562.03
1,715.33
1,887.28
2,100.34
2,342.02
2,606.9
2,851.84
3,130.47
3,472.56
3,823.91
4,185.57
4,600.85
5,078.31
- -
4,838.33
Book Value per Share
1,465.55
1,593.99
1,719.6
1,872.71
2,028.46
2,239.32
2,477.35
2,744.48
2,977.87
3,242.03
3,586.52
3,929.48
4,299.32
4,680.49
5,159.38
- -
4,916.91
Tangible Book Value per Share
21
21
21
21
21
21
21
21
21
21
21
21
21
21
21
- -
21
Basic Weighted Avg Shares
111,662
123,924
133,108
145,023
161,124
181,071
193,565
211,394
225,523
239,496
284,460
300,267
310,825
351,856
387,778
423,431
371,488
Sales/Revenue/Turnover
4.51
5.04
4.79
4.75
4.52
4.65
4.73
4.5
4.35
4.37
4.19
4.35
4.51
4.12
4.39
4.23
3.84
Operating Margin (%)
2,327
2,612
2,966
3,147
3,380
3,855
3,973
4,685
5,130
5,608
5,933
6,291
6,524
6,968
7,594
8,550
- -
Depreciation Expense
2,666
3,389
3,394
3,992
4,465
5,242
6,211
6,862
6,571
7,296
8,828
9,187
9,614
10,677
12,385
12,681
9,988
Net Income, GAAP
43.54
44.29
44.12
40.33
38.29
36.65
33.43
30.75
30.87
32.47
27.3
32.43
32.49
27.52
27.46
26.66
30.57
Effective Tax Rate (%)
2.39
2.73
2.55
2.75
2.77
2.89
3.21
3.25
2.91
3.05
3.1
3.06
3.09
3.03
3.19
2.99
2.69
Profit Margin (%)
-5,091
-5,854
-8,173
-7,817
-9,302
-11,836
-11,508
-11,932
-10,308
-9,308
-11,493
-8,845
-5,612
-8,536
-9,188
-8,695
-9,092
Working Capital
7,715
7,788
11,167
12,615
15,426
15,173
14,818
14,938
15,619
16,839
14,985
22,331
27,870
26,566
28,546
32,830
28,531
LT Debt
31,373
34,061
36,713
39,911
43,411
47,795
52,872
58,412
63,498
69,064
76,282
83,650
91,303
99,964
109,919
120,591
104,943
Total Equity
6.62
7.66
7.09
7.35
7.22
7.81
8.35
8.37
8
7.73
8.86
8.14
7.69
7.88
8.62
8.28
7.05
Return on Invested Capital (%)
7.4
8.77
7.86
8.16
8.09
8.56
9.37
9.53
8.42
8.61
9.69
9.06
8.32
8.5
9.16
8.54
7.56
Return on Capital (%)
10.17
11.85
10.85
11.67
11.88
12.6
13.4
13.29
11.54
11.69
12.81
12.07
11.51
11.66
12.28
11.43
10.3
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Feb'24
May'25
Aug'25
ST Debt
7,945
7,941
8,582
LT Borrowings
26,394
28,363
28,395
LT Finance Leases
172
154
136
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
21
21
21
Market Capitalization
132,502
153,007
130,702

Working Capital

FRC

•

in mil. unless spec.
Feb'24
May'25
Aug'25
Total Current Assets
36,908
37,346
40,674
Cash, Cash Equivalents & STI
17,028
18,173
19,289
Accounts Receivable, Net
5,168
6,036
6,359
Inventories
9,428
10,037
10,245
Total Current Liabilities
45,444
45,725
49,766
Payables & Accruals
- -
- -
- -
ST Debt
7,945
7,941
8,582
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
9.7%
9.59%
9.71%
Free Cash Flow
-96.76%
-242.44%
-159.2%
Net Income, GAAP
9.49%
7.63%
2.39%
Sales/Revenue/Turnover
8.94%
8.34%
9.19%
Total Cash Common Dividend
10.59%
8.97%
6.9%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
82,911
87,114
88,204
93,627
351,856
2025
93,456
96,201
- -
- -
387,778
2026
- -
- -
- -
- -
423,431

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
144.11
- -
- -
- -
512.25
2025
125.35
- -
- -
- -
594.12
2026
- -
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
99.07
2025
- -
- -
- -
- -
116.04
2026
- -
- -
- -
- -
- -
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Business
Belc Co. Ltd. operates a chain of food supermarkets primarily concentrated in the Kanto region of Japan, with a focus on Saitama Prefecture. The company offers a comprehensive range of products including fresh produce; meat and processed meat products; seafood products; fruit and vegetable processed products; eggs and dairy products; processed and frozen food items; wa-nichibai and kneaded products; side dishes and breads; sweets and desserts; beverages and liquor; daily necessities; clothing and housing products; as well as agricultural, water, and livestock products chiefly under the TOPVALU brand name. Additionally, Belc provides store management and related services. Founded in 1959 and headquartered in Tsurugashima, Japan, the company serves primarily domestic markets through its retail outlets and through subsidiaries involved in production and distribution of food and ready-made meals. Recently, Belc announced the expansion of its shareholder benefit program scheduled for February 2026, introducing options that allow shareholders to make donations. The company also plans to launch the Belc Pay electronic money card in February 2027 to be used across its stores, underscoring a shift toward modernization and digital customer engagement. These initiatives reflect strategic efforts to deepen customer and shareholder relationships while adapting to evolving consumer behavior, emphasizing sustainable growth and social responsibility. No indications of major mergers or acquisitions within the last two years were noted. Belc continues to focus on stable supply chain improvements and maintaining high-quality product availability in a competitive Japanese consumer retail environment. Belc Co. Ltd. primarily operates in the consumer retail industry and food supermarket segment, targeting broad consumer demographics in Japan, particularly within the Kanto region. The company remains focused on expanding service offerings and implementing technological updates to enhance shopper convenience and shareholder value.