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Financial results presentation1375YUKIGUNI FACTORY CO.,LTD.Food

Presentation Materials for the Fiscal Year Ending March 2026 Results

For the fiscal year ended March 2026, revenue and profit increased, driven by higher sales volumes, coordination between production and sales, and cost management. Operating profit increased 78.5% year on year. For the fiscal year ending March 2027, revenue and core EBITDA are expected to increase, while operating profit and net income are forecast to decline.

Worth reading
54Recurring
0–100. This measures how worthwhile something is to read, not how good or bad the company is.
Direction
Mixed performance
Direction inferred from the company’s description.
Scale
1899
Millions of yen (year-on-year increase in operating profit)
Wording
Conditional
How definitive the wording is.

Contents of this document

Financial results presentationFiscal year ending March 2026, full year11 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥37,845 million+2.0%
Operating profit¥4,319 million+78.5%
Ordinary income¥4,195 million +92.9%profit before tax
Net income¥2,958 million +96.9%profit attributable to owners of the parent
Operating profit margin11.4 % of revenue
Selling, general and administrative expenses¥9,757 million
Results for the three months of the current quarterRevenue of ¥10,382 million and core EBITDA of ¥1,691 million for the fourth quarter of the fiscal year ended March 2026. Standalone quarterly operating profit and other figures: Not disclosed
Full-year earnings forecast
Revenue
¥39,640 million
Total income
¥56,910 million
Operating profit
¥4,140 million
Income before taxes
¥3,950 million
Profit for the period attributable to owners of the parent
¥2,540 million
Core operating profit
¥3,960 million
Core EBITDA
¥6,450 million
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Sales volumes of the 3 major mushroom products were slightly below plan
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Change in core EBITDA
Revenue
¥743 million
Cost of sales
¥-322 million
Selling, general and administrative expenses
¥-193 million
Total
¥226 million
Profit or loss impact of agricultural accounting
Gain included in beginning work in process
¥-1,349 million
Gain included in ending work in process
¥1,567 million
Current-period harvest
¥15,477 million
Total profit or loss impact
¥71 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
The company assumes that market supply volumes will remain stable. Vegetable prices carry a risk of fluctuation due to weather and other factors, and selective consumer spending is expected to continue amid inflation. Geopolitical risks and the ongoing trend of rising labor costs are also assumed. Numerical assumptions: Not disclosed
New initiatives
  • Expansion of “Mushroom Meat” and related sauce products
  • Entry into the alternative meat market using the existing sales network in supermarket produce sections
  • Improving efficiency and controlling costs through BPR
  • Promoting labor-saving and energy-saving initiatives through new investment
  • Expanding markets in surrounding regions through cooperation with the Dutch subsidiary
Key KPIsA metric the company considers important as a management benchmark.
  • Core operating profit¥4,139 million+7.3%
  • Core operating profit margin10.9 %
    yoy_change_points0.5
  • Core EBITDA¥6,422 million+3.7%
  • Core EBITDA margin17 %
    yoy_change_points0.3
  • Basic earnings per share¥74.18+96.9%
  • ROE21.8 %
    yoy_change_points9.2
  • ROIC9.6 %
    yoy_change_points4.2
  • Net debt-to-equity ratio0.8 times
    Year on year against the same period last yearImproved
  • Net debt-to-core EBITDA1.8 times
    Year on year against the same period last yearImproved
Unit price and quantity metricsThese figures show sales broken down by price and volume.
Maitake mushrooms
Sales volume vs. prior-year period (%)101.6
Sales volume vs. plan (%)97.6
Selling price per unit vs. prior-year period (%)99.1
Selling price per unit vs. plan (%)101.2
King oyster mushrooms
Sales volume vs. prior-year period (%)101.2
Sales volume vs. plan (%)95.9
Selling price per unit vs. prior-year period (%)102.5
Selling price per unit vs. plan (%)106.7
Bunashimeji mushrooms
Sales volume vs. prior-year period (%)100.8
Sales volume vs. plan (%)99.9
Selling price per unit vs. prior-year period (%)104
Selling price per unit vs. plan (%)106.7
3 other mushroom products
Sales volume vs. prior-year period (%)99.9
Sales volume vs. plan (%)85.9
Selling price per unit vs. prior-year period (%)93.3
Selling price per unit vs. plan (%)90.7
Segment results
Mushroom business
Revenue
¥37,471 million
Year on year against the same period last year+1.9%
Maitake mushrooms
Revenue
¥20,264 million
Year on year against the same period last year+1.0%
King oyster mushrooms
Revenue
¥3,973 million
Year on year against the same period last year+3.9%
Bunashimeji mushrooms
Revenue
¥7,948 million
Year on year against the same period last year+5.1%
Other mushrooms
Revenue
¥5,284 million
Year on year against the same period last year-1.0%
Other Businesses
Revenue
¥373 million
Year on year against the same period last year+15.9%
Medium-term management plan targets
The medium-term management plan (fiscal years ending March 2024 to March 2028) was restated. The plan outlines policies including strengthening the domestic business platform, BPR, global expansion and new businesses. Specific targets: Not disclosed
Financial targets
Net debt-to-equity ratio
Fiscal year ending March 20251 times
Fiscal year ending March 20260.8 times
Net debt-to-core EBITDA
Fiscal year ending March 20252.1 times
Fiscal year ending March 20261.8 times
Actual ROE
Fiscal year ending March 202512.6 %
Fiscal year ending March 202621.8 %
Actual ROIC
Fiscal year ending March 20255.4 %
Fiscal year ending March 20269.6 %
Market Size / Share
Japanese alternative meat market
¥780 100 million 2030
Market size for non-fresh products in the produce sections of supermarkets in Japan
¥800 100 million
Domestic maitake market share
51 % based on 2022 production volume
Domestic king oyster mushroom market share
25 % based on 2022 production volume
Domestic bunashimeji market share
13 % based on 2022 production volume
Capital expenditures
¥2,095 millions purchases of property, plant and equipment
Contents of this document
ItemDetails
Document typeFinancial results presentation
Fiscal Period CoveredFiscal year ending March 2026, full year
Net Sales¥37,845 million (YoY +2.0%)
Operating profit¥4,319 million (YoY +78.5%)
Ordinary income¥4,195 million (profit before tax) (YoY +92.9%)
Net income¥2,958 million (profit attributable to owners of the parent) (YoY +96.9%)
Operating profit margin11.4 % (of revenue)
Selling, general and administrative expenses¥9,757 million
Results for the three months of the current quarterRevenue of ¥10,382 million and core EBITDA of ¥1,691 million for the fourth quarter of the fiscal year ended March 2026. Standalone quarterly operating profit and other figures: Not disclosed
Full-year earnings forecastRevenue ¥39,640 million / Total income ¥56,910 million / Operating profit ¥4,140 million / Income before taxes ¥3,950 million / Profit for the period attributable to owners of the parent ¥2,540 million / Core operating profit ¥3,960 million / Core EBITDA ¥6,450 million
Self-assessment against the planSales volumes of the 3 major mushroom products were slightly below plan
Segment resultsMushroom business Revenue ¥37,471 million / yoy_pct 1.9 / Maitake mushrooms Revenue ¥20,264 million / yoy_pct 1 / King oyster mushrooms Revenue ¥3,973 million / yoy_pct 3.9 / Bunashimeji mushrooms Revenue ¥7,948 million / yoy_pct 5.1 / Other mushrooms Revenue ¥5,284 million / yoy_pct -1 / Other Businesses Revenue ¥373 million / yoy_pct 15.9 / Segment profit Not disclosed
Breakdown of Factors Affecting the ChangeChange in core EBITDA Revenue ¥743 million / Cost of sales ¥-322 million / Selling, general and administrative expenses ¥-193 million / Total ¥226 million / Profit or loss impact of agricultural accounting Gain included in beginning work in process ¥-1,349 million / Gain included in ending work in process ¥1,567 million / Current-period harvest ¥15,477 million / Total profit or loss impact ¥71 million
Key KPIsCore operating profit ¥4,139 million (YoY +7.3%), Core operating profit margin 10.9 %, Core EBITDA ¥6,422 million (YoY +3.7%), Core EBITDA margin 17 %, Basic earnings per share ¥74.18 (YoY +96.9%), ROE 21.8 %, ROIC 9.6 %, Net debt-to-equity ratio 0.8 times, Net debt-to-core EBITDA 1.8 times
Unit price and quantity metricsMaitake mushrooms Sales volume vs. prior-year period (%) 101.6 / Sales volume vs. plan (%) 97.6 / Selling price per unit vs. prior-year period (%) 99.1 / Selling price per unit vs. plan (%) 101.2 / King oyster mushrooms Sales volume vs. prior-year period (%) 101.2 / Sales volume vs. plan (%) 95.9 / Selling price per unit vs. prior-year period (%) 102.5 / Selling price per unit vs. plan (%) 106.7 / Bunashimeji mushrooms Sales volume vs. prior-year period (%) 100.8 / Sales volume vs. plan (%) 99.9 / Selling price per unit vs. prior-year period (%) 104 / Selling price per unit vs. plan (%) 106.7 / 3 other mushroom products Sales volume vs. prior-year period (%) 99.9 / Sales volume vs. plan (%) 85.9 / Selling price per unit vs. prior-year period (%) 93.3 / Selling price per unit vs. plan (%) 90.7
Assumptions Underlying the Business OutlookThe company assumes that market supply volumes will remain stable. Vegetable prices carry a risk of fluctuation due to weather and other factors, and selective consumer spending is expected to continue amid inflation. Geopolitical risks and the ongoing trend of rising labor costs are also assumed. Numerical assumptions: Not disclosed
Medium-term management plan targetsThe medium-term management plan (fiscal years ending March 2024 to March 2028) was restated. The plan outlines policies including strengthening the domestic business platform, BPR, global expansion and new businesses. Specific targets: Not disclosed
Financial targetsNet debt-to-equity ratio Fiscal year ending March 2025 1 times / Fiscal year ending March 2026 0.8 times / Net debt-to-core EBITDA Fiscal year ending March 2025 2.1 times / Fiscal year ending March 2026 1.8 times / Actual ROE Fiscal year ending March 2025 12.6 % / Fiscal year ending March 2026 21.8 % / Actual ROIC Fiscal year ending March 2025 5.4 % / Fiscal year ending March 2026 9.6 %
Capital expenditures¥2,095 millions (purchases of property, plant and equipment)
Market Size / ShareJapanese alternative meat market ¥780 100 million (2030) / Market size for non-fresh products in the produce sections of supermarkets in Japan ¥800 100 million / Domestic maitake market share 51 % (based on 2022 production volume) / Domestic king oyster mushroom market share 25 % (based on 2022 production volume) / Domestic bunashimeji market share 13 % (based on 2022 production volume)
New initiativesExpansion of “Mushroom Meat” and related sauce products, Entry into the alternative meat market using the existing sales network in supermarket produce sections, Improving efficiency and controlling costs through BPR, Promoting labor-saving and energy-saving initiatives through new investment, Expanding markets in surrounding regions through cooperation with the Dutch subsidiary
Items this document does not state (10)
Gross Profit MarginProgress against full-year forecastNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookAnnual DividendPayout ratioAcquisition of treasury sharesOrders received and order backlogKey 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 company attributed the increase in revenue for the fiscal year ended March 2026 to higher sales volumes of its 3 major mushroom products, the expansion of new and strategic products, and a higher proportion of single-serving products. On the earnings side, improvements in gross margin through coordination between production and sales and cost control contributed to results, although raw material unit costs, freight rates and SG&A expenses increased. For the fiscal year ending March 2027, revenue is expected to increase, while operating profit and net income are forecast to decline due to higher cost of sales and SG&A expenses.

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Presentation Materials for the Fiscal Year Ending March 2026 Results | YUKIGUNI FACTORY CO.,LTD. (1375) timely disclosure | Komori