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  5. Morinaga Milk
Company logo

Morinaga Milk | Sustainability Performance

https://www.morinagamilk.co.jp/english/
Linkedin

Manufactures dairy and related products, supplying milk, beverages, and nutritional solutions to consumer and industrial markets.

1917

Japan

5,001 - 10,000 employees

Dairy

$1B - 10B in revenue

$100M - 500M in profitability

Submit or report inaccurate dataDownload Company Insights

Sustainability Ranking & Industry Benchmark

#4250
Overall
#191
in Japan
#11
in Dairy

Sustainability Maturity

​​0123456789​​%

Sustainability Intent

Available in
Scale package

Access
​​0123456789​​%

Industry Rank

28 out of 32

Overview
Environmental
Carbon emissionsEnergy consumptionWaste managementWater managementAir and land impactNature and biodiversityNature riskClimate risk
Social
Diversity and inclusionPay gapsExternalities
Governance
TargetsSDG ImpactESG scores and exclusionsB-corp & CDP
Financial Data
Business performanceCapital & innovationAnalyst projections

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Nihon Nohyaku

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Renewable energy

1% 2024
Critical

Waste generated

34.5K tonnes, 2024
Laggard

Female engagement

35% 2024
Critical

Externalities

62.2M $, 2025
Laggard

Market cap

14.5T $, 2026▲21.8% YoY

Revenue

3.8B $, 2026▲1.8% YoY

R&D intensity

0% 2026

Renewable energy

Reveal data for 1 credit
1%2024

Industry rank: 4 out of 32


Total energy consumption
and % renewables
(MWh, % of consumption)

Industry rank: 4 out of 32

Total energy

Share of renewable energy

Industry benchmark

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Intensity


Greenhouse gas intensity (Scope 1, 2, 3)(tCO₂e /$M)
Energy consumption (direct) intensity (MWh /$M)
Water consumption intensity (m³ /$M)
Waste generation intensity (tonnes /$M)
Industry Benchmark

621.6

B/M 269.0

328.2

B/M 326.9

4.1K

B/M 2.2K

9.0

B/M 6.5


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Female engagement

Reveal data for 1 credit

Share of female employees (%)

25
50
75
100
Company
Benchmark
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Waste

Reveal data for 1 credit
34.5K2024

Total waste generated (tonnes)

Total waste
Recovered & recycled
Not-recovered & not-recycled
Industry Benchmark

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Controversy level


Very Low
Low
Noticeable
High
Severe
Download Controversy Analysis
  • Morinaga Milk Industry Co Ltd, Japanese major dairy/infant formula, has faced sustained Japanese MHLW enforcement scrutiny including the historic 1955 Morinaga arsenic milk poisoning scandal legacy (over 12,000 affected infants), plus the contested 2024 sustained share price volatility amid Japanese infant formula customer demand normalization affecting Japanese institutional shareholders.
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Carbon emissions breakdown

Reveal data for 2 credits

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Climate risk

OverallAcuteChronic
Reveal data for 20 credits
Unlock Acute & Chronic
236 assets assessed
ScenarioComing soon
65High
$851.5Mestimated revenue at risk
Thematic risk scoresESRS aligned scoresComing soon
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Nature risk

Reveal data for 10 credits

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Production loss

Reveal data for 5 credits

Share of company output at risk (%)

Direct operations
Upstream supply chain
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Revenue at risk

Reveal data for 5 credits

Production-loss NVaR expressed in monetary terms ($)

Direct revenue at risk
Upstream revenue at risk
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Assets exposed to sensitive locations

Reveal data for 5 credits

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Biodiversity loss in km²

Reveal data for 2 credits

Biodiversity loss in terms of the equivalent land affected (km²e)

Total biodiversity loss (km²e)
Industry benchmark
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Biodiversity loss in CO2e

Reveal data for 2 credits

Total biodiversity loss as CO2e tonnes

Total biodiversity loss (CO2e tonnes)
Industry benchmark

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Potential species loss

Reveal data for 2 credits

Estimated nature species lost due to corporate activity, expressed as Potentially Disappeared Fraction (PDF)

One row per year, with the latest at the top. Each driver uses its own scale.

Low ImpactHigh Impact
Industry benchmark
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Biodiversity impact

Reveal data for 2 credits

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PDF: Potentially Disappeared Fraction (of species) due to corporate activities

Waste management

Reveal data for 2 credits

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Water management

Reveal data for 2 credits

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Air pollution

Reveal data for 2 credits

KPIMetricYear
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Land use

Reveal data for 2 credits

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Diversity & inclusion

Reveal data for 3 credits

KPIMetricYear
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Pay gap breakdown

Reveal data for 1 credit

KPIMetricYear
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Externalities

Reveal data for 1 credit

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Market cap

14.5T $, 2026▲21.8% YoY

Revenue

3.8B $, FY2026▲1.8% YoY

EBITDA

230.4M $, FY2026▼9.1% YoY

Operating margin

6% Industry: 12▲12.4% YoY

Revenue & EBITDA

$3.8BFY2026 revenue

Total Annual
Revenue & EBITDA
($ B)

Annual revenue
EBITDA
3 year change
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Margin trends


Margin as % of revenue

Gross margin
Operating margin
Net margin

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Free cashflow

-298.6M 2025▲152.5% YoY

Capex

215.3M 2025▼2.9% YoY

Debt/equity ratio

0.5 Industry: 0▼NaN% YoY

R&D intensity

0.0%FY2026

R&D as % of revenue

R&D as % of revenue
Industry benchmark

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Return on invested capital

6.0%FY2026

Return on invested capital (ROIC)
Industry benchmark

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Analyst revenue estimates & actuals


Analyst consensus vs actuals
($ B)

Actual revenue
Consensus estimates
Estimate only

3.7

▲ 99722.9%

2024

3.8

▲ 0.0%

2025

3.8

▼ 0.6%

2026

654.7

2031

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Environmental policy coverage

Carbon reduction policy

Available

Human rights policy

Available

Recycling policy

Available

Workplace health & safety policy

Available

25%
Independent Directors

4 out of 16 incl. management

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Overall score

51

Environment

63

Social

59

Governance

32

Exclusion screening

Adult content

Not available

Alcoholic

Not available

Animal testing

Not available

Firearms

Not available

Tobacco

Not available

Gambling

Not available

Nuclear

Not available

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CDP Scores


Climate Score

A-

Forests Score

B

Water Score

A

A

A-

B

B-

C

C-

D

D-

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SDG impact

Reveal data for 5 credits
2025

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SDG impact (historical)

Reveal data for 5 credits

KPIMetricYear
20202021202220232024Benchmark
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Reporting

sustainability report symbol

Sustainability Report

Available

image report
Available
image report
Available

Sustainability employees


Total sustainability employees

2-3


    Available in
    Scale package

    Access
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