Worth reading
51Recurring
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
5800
¥ million (expected gains on the sale of investment securities)Wording
Conditional
How definitive the wording is.Results for this period
Interim period (second quarter)1 April 2026 to 30 September 2026ConsolidatedJapanese GAAPNet Sales177,801¥ millionYear on year +6.7%Progress 50.8%
Operating profit5,190¥ millionYear on year -14.3%Progress 51.9%
Ordinary income6,457¥ millionYear on year -11.3%Progress 53.8%
Net income attributable to owners of the parent4,291¥ millionYear on year -25.6%
The width of the band at each stage is based on revenue. The narrower it becomes toward the bottom, the smaller the proportion of revenue that remains as profit. The dotted outline is the full-year forecast and the band inside it is the result for this period. The progress rate is the result divided by the forecast.
Net income per share¥132.06
Financial position at period-end
Total assets282,844¥ million
of which net assets 159,462 ¥ millionEquity ratio 55.2%vs. prior year-end +0.9pt
塗りつぶした部分が自己資本比率です。総資産のうち、返済のいらない自前の資金がどれだけかを表します。The thin vertical line indicates the level at the end of the previous fiscal year.
Cash inflows and outflows
Operating+4,487
Investment-11,588
Financials+3,751
Net change-3,350
Stacked from zero: upward is an increase in cash, downward a decrease (in ¥ million).The net change represented by the dotted line is the total of three items, calculated from figures provided by the company.
Cash and cash equivalents at end of period¥5,027 million
Segment revenueFood Business ¥139,318 million (YoY +2.5%), Feed business ¥35,693 million (YoY +26.0%)
Segment profitFood Business ¥4,745 million (YoY -17.3%), Feed business ¥504 million (YoY +36.1%)
Outlook and shareholder returns
Full-year earnings forecast
Net Sales¥350,000 million (YoY +4.3%)
Operating profit¥10,000 million (YoY -16.3%)
Ordinary income¥12,000 million (YoY -17.0%)
Profit attributable to owners of the parent¥11,500 million (YoY +8.4%)
Net income per share¥353.89
Revision to Earnings ForecastNet Sales Not disclosed → ¥350,000 million / Operating profit Not disclosed → ¥10,000 million / Ordinary income Not disclosed → ¥12,000 million / Profit attributable to owners of the parent Not disclosed → ¥11,500 million
Annual Dividend Forecast¥115 → ¥140
Factors Behind Changes in Business Performance
In the Food segment, personnel expenses, material prices and logistics costs increased, consumers showed a preference for frugality, and sales volumes declined, mainly in the flour-milling category, while the company proceeded with product price revisions. In the Feed segment, sales volumes and prices for compound feed and eggs exceeded those in the same period of the previous year, and the recovery from avian influenza also contributed.
Disclosure regarding the going concern assumption
Not applicable.
Change in accounting policy
基準改正に伴う変更 Noneそれ以外の変更 None見積りの変更 None修正再表示 None
Changes in the scope of consolidation0 new companies and 0 excluded companies. There were no significant changes to the scope of consolidation. However, the fiscal year-end dates of 昭和鶏卵株式会社 and 昭産運輸株式会社 were changed from 31 December to 31 March.
Material subsequent eventsAt a meeting of the Board of Directors held on 9 November 2026, the company resolved to sell part of its listed securities holdings. The sale is scheduled to take place from 10 November 2026 to 31 March 2027, and the company expects to record ¥5,800 million in gains on the sale of investment securities as extraordinary income.
Impairment loss非開示
Breakdown of extraordinary income (loss)Extraordinary income Gain on sale of non-current assets ¥1 million, Gain on sale of investment securities ¥0 million, Other ¥0 million / Extraordinary loss Loss on disposal of fixed assets ¥116 million, Loss on sale of property, plant and equipment ¥4 million, Loss on valuation of investments ¥5 million, Other ¥4 million
Depreciation and amortization¥5,511 million
Availability of Supplementary Financial Results MaterialsAvailable
Availability of Financial Results BriefingYes (for institutional investors and analysts)
Issued Shares at Period-End32,995,420
Treasury Shares at Period-End499,184
| Item | Details |
|---|---|
| Fiscal Period Classification | Interim period (second quarter) |
| Accounting standards | Japanese GAAP |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 April 2026 to 30 September 2026 |
| Net Sales | ¥177,801 million (YoY +6.7%) |
| Operating profit | ¥5,190 million (YoY -14.3%) |
| Ordinary income | ¥6,457 million (YoY -11.3%) |
| Profit attributable to owners of the parent | ¥4,291 million (YoY -25.6%) |
| Net income per share | ¥132.06 |
| Equity ratio | End of the current fiscal period 55.2% / End of previous period 54.3% |
| Total assets | ¥282,844 million |
| Net assets | ¥159,462 million |
| Cash flows from operating activities | ¥4,487 million |
| Cash flows from investing activities | ¥-11,588 million |
| Cash flows from financing activities | ¥3,751 million |
| Cash and cash equivalents at end of period | ¥5,027 million |
| Full-year earnings forecast | Net Sales ¥350,000 million (YoY +4.3%) / Operating profit ¥10,000 million (YoY -16.3%) / Ordinary income ¥12,000 million (YoY -17.0%) / Profit attributable to owners of the parent ¥11,500 million (YoY +8.4%) / Net income per share ¥353.89 |
| Revision to Earnings Forecast | Net Sales Not disclosed → ¥350,000 million / Operating profit Not disclosed → ¥10,000 million / Ordinary income Not disclosed → ¥12,000 million / Profit attributable to owners of the parent Not disclosed → ¥11,500 million |
| Annual Dividend Forecast | ¥115 → ¥140 |
| Segment revenue | Food Business ¥139,318 million (YoY +2.5%), Feed business ¥35,693 million (YoY +26.0%) |
| Segment profit | Food Business ¥4,745 million (YoY -17.3%), Feed business ¥504 million (YoY +36.1%) |
| Depreciation and amortization | ¥5,511 million |
| Impairment loss | 非開示 |
| Breakdown of extraordinary income (loss) | Extraordinary income Gain on sale of non-current assets ¥1 million, Gain on sale of investment securities ¥0 million, Other ¥0 million / Extraordinary loss Loss on disposal of fixed assets ¥116 million, Loss on sale of property, plant and equipment ¥4 million, Loss on valuation of investments ¥5 million, Other ¥4 million |
| Disclosure regarding the going concern assumption | Not applicable. |
| Change in accounting policy | Changes due to revisions to standards None / Other changes None / Change in accounting estimate None / Restatement None |
| Changes in the scope of consolidation | 0 new companies and 0 excluded companies. There were no significant changes to the scope of consolidation. However, the fiscal year-end dates of 昭和鶏卵株式会社 and 昭産運輸株式会社 were changed from 31 December to 31 March. |
| Material subsequent events | At a meeting of the Board of Directors held on 9 November 2026, the company resolved to sell part of its listed securities holdings. The sale is scheduled to take place from 10 November 2026 to 31 March 2027, and the company expects to record ¥5,800 million in gains on the sale of investment securities as extraordinary income. |
| Availability of Supplementary Financial Results Materials | Available |
| Availability of Financial Results Briefing | Yes (for institutional investors and analysts) |
| Issued Shares at Period-End | 32,995,420 |
| Treasury Shares at Period-End | 499,184 |
| Factors Behind Changes in Business Performance | In the Food segment, personnel expenses, material prices and logistics costs increased, consumers showed a preference for frugality, and sales volumes declined, mainly in the flour-milling category, while the company proceeded with product price revisions. In the Feed segment, sales volumes and prices for compound feed and eggs exceeded those in the same period of the previous year, and the recovery from avian influenza also contributed. |
Items this document does not state (5)
Operating MarginPayout ratioShareholder Return PolicyRegional salesOrders received and order backlog
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.Rising personnel expenses, material prices and logistics costs, consumers’ preference for frugality, and lower sales volumes, mainly in the flour-milling category, weighed on profit in the Food segment. In the Feed segment, sales volumes and prices for compound feed and eggs exceeded those in the same period of the previous year, while the recovery from avian influenza also contributed to higher revenue and profit. The sale of investment securities was attributed to efforts to improve capital efficiency and strengthen the financial position by reviewing cross-shareholdings.
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.
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