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Morinaga Milk Industry (Morinaga Milk) is an iconic Japanese dairy company that celebrated its 100th anniversary in September 2017. It is one of three major players in an industry that includes more than 500 companies. The company has remained profitable over many years, underpinned by a value chain of products developed through vertical integration, starting with the sourcing of raw milk. Its extensive consumer and commercial products have strong brand recognition in Japan. In R&D, the company has been conducting research on bifidobacteria and lactoferrin for many years and has developed functional beverages and foods based on its findings.

Our Policy

We interview management for hours, asking exhaustive questions to uncover the essence of the business.

We pinpoint strengths and weaknesses, and discuss strategy. Our aim is to make deep knowledge about the company readily available, saving investors time and enabling dialogue.

Our Research

We start our coverage with a substantial core report. We then continuously update this report to reflect earnings, newsflow, and any material developments. We interview the management quarterly to help you stay on top of the story.

Our report is an authoritative Owner’s Manual of the company—a vital piece in the investor’s toolbox.

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