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Supplementary Materials to the Earnings ReportFY2027/3 interim period10 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥5,067 100 million+11.9%
Operating profit¥211 100 million+7.0%
Ordinary income¥204 100 million-3.6%
Net income¥135 100 million-5.1%
Results for the three months of the current quarterQuarterly sales and operating profit for the marine products, food, fine chemicals and logistics businesses, among others, are presented in charts. A 3-month standalone figures list for all items is Not disclosed.
Full-year earnings forecast
Net Sales
¥10,000 100 million
Operating profit
¥425 100 million
Ordinary income
¥430 100 million
Profit attributable to owners of parent
¥290 100 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。
Consolidated revenue50.7
Consolidated operating profit49.8
Consolidated ordinary income47.5
Profit attributable to owners of parent46.8
Seafood business revenue50.7
Seafood business operating profit39.1
Food revenue51.2
Food business operating income55.7
Fine chemicals business net sales46.8
Fine chemicals business operating profit55
Logistics business revenue49.6
Logistics business operating profit46
Other revenue39.4
Other operating profit280.5
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Change in operating profitIncreased from ¥19.7 billion in the same period of the previous fiscal year to ¥21.1 billion in the current period
Fisheries and aquaculture (excluding South American aquaculture)7
South American aquaculture-18
Seafood processing and trading20
Food-14
Fine Chemicals10
Corporate expenses, consolidation adjustments and other-4
Food processing-8
Chilled foods-5
Fisheries8
Aquaculture-19
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
USD exchange rate155
FY2026 potential cost increase impact40
FY2026 impact of measures30
FY2026 net impact on operating profitNet negative impact of just under ¥1 billion
FY2027 potential cost increase impact90
FY2027 impact of measures75
FY2027 net impact on operating profit-15
New initiatives
- Construction of a new system for 日水物流 using servers other than those of its service provider
- Strengthening fish disease management and monitoring systems and starting operation of oxygen supply equipment in the South American aquaculture business
- Introduction of a feed barge for domestic coho salmon aquaculture
- Construction of a new domestic food factory and consolidation and automation of production lines
- Participation in a fisheries improvement project in India for fish used as surimi raw material
Key KPIsA metric the company considers important as a management benchmark.
- USD exchange rate160.72 JPY/USDSame quarter a year earlier143.75
- Equity ratio39.8 %Year on year against the same period last yearDown 0.2 percentage points from the end of the previous fiscal year
- Net debt-to-equity ratio0.9 xYear on year against the same period last year+0.1 vs. end of the previous fiscal year
- Total assets¥7,875 100 millionYear on year against the same period last year+¥38 billion from the end of the previous fiscal year
- Potential impact of higher fish oil and fishmeal costs (fiscal 2026)¥40 100 million
Unit price and quantity metricsThese figures show sales broken down by price and volume.
The factors behind changes in sales volumes and selling prices are described for the marine products processing and trading businesses and the food business. Domestic food sales volumes declined, while sales volumes increased and selling prices rose in the marine products processing and trading businesses.Segment results
Marine Products Business
Net Sales
¥2,140 100 million+19.7%
Operating profit
¥85 100 million+40.8%
Food Business
Net Sales
¥2,691 100 million+6.9%
Operating profit
¥153 100 million-8.9%
Fine Chemicals Business
Net Sales
¥81 100 million+14.5%
Operating profit
¥10 100 million+482.5%
Logistics Business
Net Sales
¥87 100 million+5.1%
Operating profit
¥11 100 million-3.5%
Other
Net Sales
¥66 100 million-3.2%
Operating profit
¥4 100 million+21.5%
Financial targets
Net debt-to-equity ratio target range0.7～0.8
Six-month results
Net debt-to-equity ratio0.9
Equity ratio39.8%
Risk amount incorporated into the outlookThe amount representing the range of variation the company expects in its forecast.
FY2026
Net negative impact of just under ¥1 billion on operating profit
DetailsHigher fish oil and fishmeal prices due to the El Niño phenomenon
FY2027
Net negative impact of ¥1.5 billion on operating profit
DetailsHigher fish oil and fishmeal prices due to the El Niño phenomenon
Logistics system failures
Approximately just under ¥200 million each in lower sales and operating profit in the second half
DetailsUnauthorised access to the data center used by 日水物流's service provider
Annual Dividend
Interim dividend of ¥16. Dividend increased by ¥2 as planned. The year-end dividend and annual dividend are Not disclosed.Acquisition of treasury shares
Although the company refers to expenditures for the share repurchase conducted in the previous fiscal year, the acquisition limit, number of shares and period for the current fiscal year are Not disclosed.| Item | Details |
|---|---|
| Document type | Supplementary Materials to the Earnings Report |
| Fiscal Period Covered | FY2027/3 interim period |
| Net Sales | ¥5,067 100 million (YoY +11.9%) |
| Operating profit | ¥211 100 million (YoY +7.0%) |
| Ordinary income | ¥204 100 million (YoY -3.6%) |
| Net income | ¥135 100 million (YoY -5.1%) |
| Results for the three months of the current quarter | Quarterly sales and operating profit for the marine products, food, fine chemicals and logistics businesses, among others, are presented in charts. A 3-month standalone figures list for all items is Not disclosed. |
| Full-year earnings forecast | Net Sales ¥10,000 100 million / Operating profit ¥425 100 million / Ordinary income ¥430 100 million / Profit attributable to owners of parent ¥290 100 million |
| Progress against full-year forecast | Consolidated revenue 50.7 / Consolidated operating profit 49.8 / Consolidated ordinary income 47.5 / Profit attributable to owners of parent 46.8 / Seafood business revenue 50.7 / Seafood business operating profit 39.1 / Food revenue 51.2 / Food business operating income 55.7 / Fine chemicals business net sales 46.8 / Fine chemicals business operating profit 55 / Logistics business revenue 49.6 / Logistics business operating profit 46 / Other revenue 39.4 / Other operating profit 280.5 |
| Segment results | Marine Products Business Net Sales ¥2,140 100 million (YoY +19.7%) / Operating profit ¥85 100 million (YoY +40.8%) / Food Business Net Sales ¥2,691 100 million (YoY +6.9%) / Operating profit ¥153 100 million (YoY -8.9%) / Fine Chemicals Business Net Sales ¥81 100 million (YoY +14.5%) / Operating profit ¥10 100 million (YoY +482.5%) / Logistics Business Net Sales ¥87 100 million (YoY +5.1%) / Operating profit ¥11 100 million (YoY -3.5%) / Other Net Sales ¥66 100 million (YoY -3.2%) / Operating profit ¥4 100 million (YoY +21.5%) |
| Breakdown of Factors Affecting the Change | Change in operating profit Increased from ¥19.7 billion in the same period of the previous fiscal year to ¥21.1 billion in the current period / Fisheries and aquaculture (excluding South American aquaculture) 7 / South American aquaculture -18 / Seafood processing and trading 20 / Food -14 / Fine Chemicals 10 / Corporate expenses, consolidation adjustments and other -4 / Food processing -8 / Chilled foods -5 / Fisheries 8 / Aquaculture -19 |
| Key KPIs | Indicator name USD exchange rate / Value 160.72 JPY/USD / Same quarter a year earlier 143.75 JPY/USD, Indicator name Equity ratio / Value 39.8 % / Year on year against the same period last year Down 0.2 percentage points from the end of the previous fiscal year, Indicator name Net debt-to-equity ratio / Value 0.9 x / Year on year against the same period last year +0.1 vs. end of the previous fiscal year, Indicator name Total assets / Value ¥7,875 100 million / Year on year against the same period last year +¥38 billion from the end of the previous fiscal year, Indicator name Potential impact of higher fish oil and fishmeal costs (fiscal 2026) / Value ¥40 100 million / Year on year against the same period last year Not disclosed |
| Unit price and quantity metrics | The factors behind changes in sales volumes and selling prices are described for the marine products processing and trading businesses and the food business. Domestic food sales volumes declined, while sales volumes increased and selling prices rose in the marine products processing and trading businesses. |
| Assumptions Underlying the Business Outlook | USD exchange rate 155 / FY2026 potential cost increase impact 40 / FY2026 impact of measures 30 / FY2026 net impact on operating profit Net negative impact of just under ¥1 billion / FY2027 potential cost increase impact 90 / FY2027 impact of measures 75 / FY2027 net impact on operating profit -15 |
| Risk amount incorporated into the outlook | FY2026 Details Higher fish oil and fishmeal prices due to the El Niño phenomenon / Amount Net negative impact of just under ¥1 billion on operating profit / FY2027 Details Higher fish oil and fishmeal prices due to the El Niño phenomenon / Amount Net negative impact of ¥1.5 billion on operating profit / Logistics system failures Details Unauthorised access to the data center used by 日水物流's service provider / Amount Approximately just under ¥200 million each in lower sales and operating profit in the second half |
| Financial targets | Net debt-to-equity ratio target range 0.7～0.8 / Six-month results Net debt-to-equity ratio 0.9 / Equity ratio 39.8% |
| Annual Dividend | Interim dividend of ¥16. Dividend increased by ¥2 as planned. The year-end dividend and annual dividend are Not disclosed. |
| Acquisition of treasury shares | Although the company refers to expenditures for the share repurchase conducted in the previous fiscal year, the acquisition limit, number of shares and period for the current fiscal year are Not disclosed. |
| New initiatives | Construction of a new system for 日水物流 using servers other than those of its service provider, Strengthening fish disease management and monitoring systems and starting operation of oxygen supply equipment in the South American aquaculture business, Introduction of a feed barge for domestic coho salmon aquaculture, Construction of a new domestic food factory and consolidation and automation of production lines, Participation in a fisheries improvement project in India for fish used as surimi raw material |
Items this document does not state (12)
Gross Profit MarginOperating profit marginSelling, general and administrative expensesSelf-assessment against the planNumber of stores and locationsNumber of employeesMedium-term management plan targetsPayout ratioCapital expendituresOrders 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.The fisheries, processing and trading operations of the marine products business and the fine chemicals business performed well, while higher raw material costs and lower domestic sales volumes in the food business weighed on profit. Interest-bearing debt also increased in connection with investment in the South American aquaculture business, and interest expenses rose as domestic interest rates increased.
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