Prices as of 2026/10/30 close
Company comparison · Diversified Food Makers
Ajinomoto is the bigger company, with revenue of ¥1.6T — 2.8x Morinaga Milk's ¥571.5B.
Ajinomoto earns more on each yen of sales, with an operating margin of 12.6% — 6.6 points above Morinaga Milk (6.0%).
Revenue growth in the latest results: Ajinomoto +3.5%, Morinaga Milk +1.8%. For next year, Ajinomoto guides for the fastest operating profit growth (−1.2%).
Ajinomoto pays more on average — ¥10.6M against ¥7.92M at Morinaga Milk.
Over the past year the shares moved Morinaga Milk +32.5%, Ajinomoto +21.9%.
Head-to-head wins15 metrics
One win per metric for the company with the best value. Metrics with no better or worse (P/E, average age, employees) are excluded.
ScaleInvestors
Ajinomoto aheadAjinomoto 3 : Morinaga Milk 0
Revenue: Ajinomoto ¥1.6T / Morinaga Milk ¥571.5B
ProfitabilityInvestors
Ajinomoto aheadAjinomoto 3 : Morinaga Milk 0
Operating margin: Ajinomoto 12.6% / Morinaga Milk 6.0%
GrowthInvestors
Ajinomoto aheadAjinomoto 5 : Morinaga Milk 0
Revenue growth (YoY): Ajinomoto +3.5% / Morinaga Milk +1.8%
Stock & balance sheetInvestors
EvenAjinomoto 1 : Morinaga Milk 1
Share price, 1 year: Ajinomoto +21.9% / Morinaga Milk +32.5%
Pay & workforceJob seekers
Ajinomoto aheadAjinomoto 2 : Morinaga Milk 0
Average salary: Ajinomoto ¥10.6M / Morinaga Milk ¥7.92M
| Metric | Ajinomoto | Morinaga Milk | Gap |
|---|---|---|---|
| Revenue | ◎¥1.6T | ¥571.5B | 2.8x |
| Operating profit | ◎¥199.4B | ¥34.5B | 5.8x |
| Net income | ◎¥134.7B | ¥22.6B | 6.0x |
| Metric | Ajinomoto | Morinaga Milk | Gap |
|---|---|---|---|
| Operating margin | ◎12.6% | 6.0% | 6.6pt |
| Net margin | ◎8.5% | 4.0% | 4.5pt |
| Revenue per employee | ◎¥427M | ¥173M | 2.5x |
| Metric | Ajinomoto | Morinaga Milk | Gap |
|---|---|---|---|
| Revenue growth (YoY) | ◎+3.5% | +1.8% | 1.7pt |
| Operating profit growth (YoY) | ◎+75.0% | +16.3% | 58.7pt |
| Revenue CAGRlast 5 years | ◎+8.1% | −0.4% | 8.5pt |
| Guidance: revenue growthnext FY plan | ◎+8.8% | +1.5% | 7.3pt |
| Guidance: op. profit growthnext FY plan | ◎−1.2% | −7.2% | 6.0pt |
| Metric | Ajinomoto | Morinaga Milk | Gap |
|---|---|---|---|
| Share price, 1 year | +21.9% | ◎+32.5% | 10.6pt |
| Share price, 3 months | ◎+5.8% | −13.4% | 19.2pt |
| Share price (close) | ¥5,118 | ¥1,092 |
◎ marks the best value for each metric. Revenue and profit are from the latest full-year earnings release; share prices are closing-price references; P/E = latest close ÷ trailing EPS. For banks and some other financials, revenue means ordinary income.
| Metric | Ajinomoto | Morinaga Milk | Gap |
|---|---|---|---|
| Average salary | ◎¥10.6M | ¥7.92M | ¥2.69M |
| Starting salary (monthly) | — | ¥248,000 | |
| Average tenure | ◎18.9 yrs | 16.8 yrs | 2.1 |
| Average age | 43.5 | 40.2 | 3.3 |
| Employees | 3,705 | 3,310 | 1.1x |
Average salary is for the reporting (parent) company and is affected by average age and job mix. Holding companies with few employees are left out of the salary comparison.
Close (Oct 30, 2026)
¥5,118+21.9% (1Y)
Ajinomoto +21.9% over 1Y. Compared: Morinaga Milk +32.5%.
Reference chart of daily closing prices, not real-time quotes (split-adjusted; weekly closes before the last year). Each line shows the % change from the start of the period. Updated Oct 30, 2026.
Ajinomoto3 segments
Morinaga Milk2 segments
AAverage annual salary from the securities filings: Ajinomoto ¥10.6M, Morinaga Milk ¥7.92M. Ajinomoto pays the most. Averages also depend on staff age and job mix, so check the average age too (Ajinomoto 43.5, Morinaga Milk 40.2).
ARevenue in the latest results: Ajinomoto ¥1.6T, Morinaga Milk ¥571.5B. Ajinomoto is the bigger company, with revenue of ¥1.6T — 2.8x Morinaga Milk's ¥571.5B.
AOperating margins: Ajinomoto 12.6%, Morinaga Milk 6.0%. Ajinomoto turns the highest share of sales into operating profit.
AShare price change over the past year (closing prices, for reference): Morinaga Milk +32.5%, Ajinomoto +21.9%. Morinaga Milk has risen the most.
Comparing 2 companies (up to 4)
Sources: earnings releases (kessan tanshin), annual securities reports and other public information. Share prices are closing-price references, not real-time. Our data may contain errors; investment decisions are your own responsibility.
