Worth reading
84Important
Scored from 5 of 6 sectionsDirection
Improvement
Direction inferred from the company’s description.Scale
200
¥100 million (amount of upward revision to full-year revenue forecast)Wording
Conditional
How definitive the wording is.Contents of this document
Supplementary materials to the earnings reportFirst quarter of the fiscal year ending March 20279 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥2,572 million+14.1%
Operating profit¥124 million+20.9%
Ordinary income¥116 million+13.7%
Net income¥74 million+14.3%
Results for the three months of the current quarter
Net Sales
¥2,572 million
Operating profit
¥124 million
Ordinary income
¥116 million
Profit attributable to owners of parent for the quarter
¥74 million
Full-year earnings forecast
Net Sales
¥10,000 million
Operating profit
¥425 million
Ordinary income
¥430 million
Profit attributable to owners of the parent
¥290 million
Progress against full-year forecast 通期の予想に対して、いまどこまで進んだかの割合です。
Net Sales26.3%
Operating profit29.3%
Ordinary income27.1%
Profit attributable to owners of parent for the quarter25.7%
Seafood business revenue26.4%
Seafood business operating profit25.2%
Food business revenue26.5%
Food business operating income30.4%
Fine chemicals business net sales22.2%
Fine chemicals business operating profit28.3%
Logistics business revenue23.8%
Logistics business operating profit20.1%
Other net sales19.6%
Other operating profit116.8%
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Progress broadly in line with expectationsBreakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
- Seafood, fishing and aquaculture (excluding South American aquaculture)+¥0.8 billion
- Seafood and South American aquaculture, including unrealized profit adjustments-¥0.4 billion
- Seafood processing and trading, including unrealized profit adjustments+¥1.9 billion
- Food-¥0.4 billion
- Fine chemicals+¥400 million
- Corporate expenses, consolidation adjustments and other items-¥0.2 billion
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
U.S. dollar exchange rate
Initial plan150 JPY/USD
Revised plan155 JPY/USD
Feed pricesExpected to rise from the second half onward (figure: Not disclosed)
New initiatives
- Normalization initiatives in the South American aquaculture business, including improvements in feed costs and aquaculture performance and the internalization of operations
- Strengthening fingerling supply capacity through the establishment of new freshwater aquaculture farms
- Advanced aquaculture and automated feeding using AI and IoT in domestic aquaculture
- Adding value in North American processing, including increasing the fillet ratio for walleye pollock
- Converting the new domestic food plant into a smart factory
- Expanding procurement areas and developing new suppliers for pharmaceutical and functional ingredients
- Strengthening development of functional ingredient products in food formats such as jellies and gummies
Key KPIsA metric the company considers important as a management benchmark.
- Equity ratio39.1 %
- Net debt-to-equity ratio0.9 timesYear on year against the same period last year+0.1 vs. end of the previous fiscal year
- US dollar exchange rate (actual)156.45 JPY/USDYear on year against the same period last year¥151.21 in the year-earlier period
- Free cash flow¥-186 millionYear on year against the same period last year-¥6.5 billion in the year-earlier period
Segment results
Marine Products Business
Net Sales
¥1,076 million+24.6%
Operating profit
¥54 million+72.6%
Food Business
Net Sales
¥1,382 million+7.4%
Operating profit
¥84 million-4.1%
Fine Chemicals Business
Net Sales
¥38 million+24.4%
Operating profit
¥5 million+2,248.5%
Logistics
Net Sales
¥42 million+3.4%
Operating profit
¥5 million-6.9%
Other
Net Sales
¥33 million+3.6%
Operating profit
¥1 million+222.7%
Medium-term management plan targets
Long-Term VisionGOOD FOODS 2030
Financial targets
Net debt-to-equity ratio target range0.7～0.8
Actual results0.9 times
Actual equity ratio39.1 times
Equity ratio unit%
Capital expenditures
¥145 100 million fixed asset acquisitions; -¥14.5 billion on a cash flow basis
| Item | Details |
|---|---|
| Document type | Supplementary materials to the earnings report |
| Fiscal Period Covered | First quarter of the fiscal year ending March 2027 |
| Net Sales | ¥2,572 million (YoY +14.1%) |
| Operating profit | ¥124 million (YoY +20.9%) |
| Ordinary income | ¥116 million (YoY +13.7%) |
| Net income | ¥74 million (YoY +14.3%) |
| Results for the three months of the current quarter | Net Sales ¥2,572 million / Operating profit ¥124 million / Ordinary income ¥116 million / Profit attributable to owners of parent for the quarter ¥74 million |
| Full-year earnings forecast | Net Sales ¥10,000 million / Operating profit ¥425 million / Ordinary income ¥430 million / Profit attributable to owners of the parent ¥290 million |
| Progress against full-year forecast | Net Sales 26.3% / Operating profit 29.3% / Ordinary income 27.1% / Profit attributable to owners of parent for the quarter 25.7% / Seafood business revenue 26.4% / Seafood business operating profit 25.2% / Food business revenue 26.5% / Food business operating income 30.4% / Fine chemicals business net sales 22.2% / Fine chemicals business operating profit 28.3% / Logistics business revenue 23.8% / Logistics business operating profit 20.1% / Other net sales 19.6% / Other operating profit 116.8% |
| Self-assessment against the plan | Progress broadly in line with expectations |
| Segment results | Marine Products Business Net Sales ¥1,076 million (YoY +24.6%) / Operating profit ¥54 million (YoY +72.6%) / Food Business Net Sales ¥1,382 million (YoY +7.4%) / Operating profit ¥84 million (YoY -4.1%) / Fine Chemicals Business Net Sales ¥38 million (YoY +24.4%) / Operating profit ¥5 million (YoY +2,248.5%) / Logistics Net Sales ¥42 million (YoY +3.4%) / Operating profit ¥5 million (YoY -6.9%) / Other Net Sales ¥33 million (YoY +3.6%) / Operating profit ¥1 million (YoY +222.7%) |
| Breakdown of Factors Affecting the Change | Factors Seafood, fishing and aquaculture (excluding South American aquaculture) / Amount +¥0.8 billion, Factors Seafood and South American aquaculture, including unrealized profit adjustments / Amount -¥0.4 billion, Factors Seafood processing and trading, including unrealized profit adjustments / Amount +¥1.9 billion, Factors Food / Amount -¥0.4 billion, Factors Fine chemicals / Amount +¥400 million, Factors Corporate expenses, consolidation adjustments and other items / Amount -¥0.2 billion |
| Key KPIs | Indicator name Equity ratio / Value 39.1 % / Year on year against the same period last year Not disclosed, Indicator name Net debt-to-equity ratio / Value 0.9 times / Year on year against the same period last year +0.1 vs. end of the previous fiscal year, Indicator name US dollar exchange rate (actual) / Value 156.45 JPY/USD / Year on year against the same period last year ¥151.21 in the year-earlier period, Indicator name Free cash flow / Value ¥-186 million / Year on year against the same period last year -¥6.5 billion in the year-earlier period |
| Assumptions Underlying the Business Outlook | U.S. dollar exchange rate Initial plan 150 JPY/USD / Revised plan 155 JPY/USD / Feed prices Expected to rise from the second half onward (figure: Not disclosed) |
| Medium-term management plan targets | Long-Term Vision GOOD FOODS 2030 / Other targets Not disclosed |
| Financial targets | Net debt-to-equity ratio target range 0.7～0.8 / Actual results 0.9 times / Actual equity ratio 39.1 times / Equity ratio unit % |
| Capital expenditures | ¥145 100 million (fixed asset acquisitions; -¥14.5 billion on a cash flow basis) |
| New initiatives | Normalization initiatives in the South American aquaculture business, including improvements in feed costs and aquaculture performance and the internalization of operations, Strengthening fingerling supply capacity through the establishment of new freshwater aquaculture farms, Advanced aquaculture and automated feeding using AI and IoT in domestic aquaculture, Adding value in North American processing, including increasing the fillet ratio for walleye pollock, Converting the new domestic food plant into a smart factory, Expanding procurement areas and developing new suppliers for pharmaceutical and functional ingredients, Strengthening development of functional ingredient products in food formats such as jellies and gummies |
Items this document does not state (13)
Gross Profit MarginOperating profit marginSelling, general and administrative expensesUnit price and quantity metricsNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookAnnual DividendPayout ratioAcquisition of treasury sharesOrders received and order backlogMarket Size / ShareKey points of the Q&A
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.Sales expanded in the seafood and fine chemicals businesses during the first quarter. The full-year revenue forecast was revised upward in light of the revised foreign exchange assumptions and strong performance in the seafood business. In the food business, profit declined due to higher raw material costs and other factors, despite progress on price revisions.
How to read this page
This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.