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Financial Results Presentation2060FEED ONE CO.,LTD.Food

Supplementary Information on Full-Year Financial Results for the Fiscal Year Ending March 2026

For the fiscal year ending March 2026, revenue declined due to lower feed selling prices and reduced sales volumes, while operating profit, ordinary profit and net income reached record highs as profitability improved. Interim and year-end dividends were increased, bringing the annual dividend to ¥80 per share.

Worth reading
76Important
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Direction
Mixed performance
Direction inferred from the company’s description.
Scale
26.9
Year-on-year change in ordinary profit (%)
Wording
Definitive
How definitive the wording is.

Contents of this document

Financial Results PresentationFiscal year ending March 2026, full year14 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales290,675 Millions of yen-1.8%
Operating profit8,091 Millions of yen+27.6%
Ordinary income8,612 Millions of yen+26.9%
Net income6,377 Millions of yen+18.4%
Selling, general and administrative expenses25,755 Millions of yen
Results for the three months of the current quarter
Ordinary income
2,462 Millions of yen
Profit attributable to owners of the parent
1,792 Millions of yen
Full-year earnings forecast
Fiscal year ending March 2027
Net Sales
317,000 Millions of yen
Cost of sales
281,600 Millions of yen
Gross profit
35,400 Millions of yen
Selling, general and administrative expenses
26,900 Millions of yen
Operating profit
8,500 Millions of yen
Ordinary income
8,800 Millions of yen
Profit attributable to owners of the parent
6,500 Millions of yen
Sales volume
381 10,000 tonnes
EBITDA
130 Hundreds of millions of yen
ROE
10 %
ROIC
7 %
Total investmentMore than ¥7.5 billion
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。
Fiscal year ending March 2026
Net Sales93.5 %
Operating profit119 %
Ordinary income123 %
Profit attributable to owners of the parent122.6 %
Gross profit100.1 %
Sales volume98 %
EBITDA114 %
Total investment119 %
By segment
Livestock Feed Business
Net Sales93.6 %
Segment profit116.4 %
EBITDA112.9 %
Aquatic Feed Business
Net Sales88.8 %
Segment profit118.9 %
EBITDA111.4 %
Food Business
Net Sales95.6 %
Segment profit81.9 %
EBITDA99.7 %
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Investments carried out as planned
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Livestock feed business segment profit
Declining sales volumes-377 Millions of yen
Increase in gross profit2,001 Millions of yen
Increase in equity-method investment gains and losses, etc.268 Millions of yen
Aquatic feed business segment profit
Declining sales volumes-36 Millions of yen
Increase in gross profit380 Millions of yen
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Livestock feed sales volume
3,700 thousand tonnes
Aquafeed sales volume
115 thousand tonnes
Livestock feed price revisionsSelling prices revised once per quarter in line with changes in raw material prices
New initiatives
  • Expanding sales of fishmeal-free and low-fishmeal feed
  • Expanding sales of differentiated products, including heat-stress countermeasure products
  • Containing costs by passing costs through to selling prices and improving manufacturing efficiency
  • Initiatives to improve transport efficiency (DX)
Key KPIsA metric the company considers important as a management benchmark.
  • Sales volume3,733 thousand tonnes-1.4%
  • EBITDA12,779 Millions of yen+20.6%
  • ROE11 %
  • ROIC7.7 %
  • Equity ratio46.4 %
  • Debt-to-equity ratio0.4 times
Unit price and quantity metricsThese figures show sales broken down by price and volume.
Livestock feed
Sales volume
3,635 thousand tonnes-1.4%
Corn import priceDown 1.6% year on year
Feed selling priceSelling price trends shown
Aquatic feed
Sales volume
98 thousand tonnes-1.2%
Fishmeal import priceDown 8.0% year on year
Segment results
Livestock Feed Business
Net Sales
223,744 Millions of yen-3.7%
Segment profit
10,243 Millions of yen+20.0%
EBITDA
12,987 Millions of yen+17.3%
Aquatic Feed Business
Net Sales
24,863 Millions of yen-3.0%
Segment profit
1,426 Millions of yen+22.6%
EBITDA
2,005 Millions of yen+19.4%
Food Business
Net Sales
42,053 Millions of yen+10.3%
Segment profit
163 Millions of yen-42.4%
EBITDA
398 Millions of yen-12.8%
Other and adjustments
Net Sales
13 Millions of yen-9.1%
Segment profit
-3,221 Millions of yen
Medium-term management plan targets
Fiscal year ending March 2027
EBITDA
115 Hundreds of millions of yen
ROE
8 % or higher
ROIC
6 % or higher
Fiscal year ending March 2034
Sales volumeAt least 20% share of the livestock feed market
EBITDA¥16 billion or more
ROE10% or higher
ROIC8% or higher
Financial targets
ROE
Medium-term management plan targets8% or higher
Actual results11.0%
ROIC
Medium-term management plan targetsAt least 6%
Actual results7.7%
Equity ratio
Actual results46.4%
Debt-to-equity ratio
Actual results0.40
Market Size / Share
Livestock feed distribution volumeApproximately 24 million tonnes
Feed One market share15%
Aquatic feed market sizeApproximately one-sixth the size of the livestock feed market
Number of employees
935 People
As ofAs of 31 March 2026, consolidated
Capital expenditures
¥11,857 million total investment
Annual Dividend
Annual
¥80 per share
Interim
¥21 per share
End of period
¥24.5 per share
Payout ratio
Not disclosed (DOE target: 3%)
Contents of this document
ItemDetails
Document typeFinancial Results Presentation
Fiscal Period CoveredFiscal year ending March 2026, full year
Net Sales290,675 Millions of yen (YoY -1.8%)
Operating profit8,091 Millions of yen (YoY +27.6%)
Ordinary income8,612 Millions of yen (YoY +26.9%)
Net income6,377 Millions of yen (YoY +18.4%)
Selling, general and administrative expenses25,755 Millions of yen
Results for the three months of the current quarterOrdinary income 2,462 Millions of yen / Profit attributable to owners of the parent 1,792 Millions of yen
Full-year earnings forecastSubject Fiscal year ending March 2027 / Net Sales 317,000 Millions of yen / Cost of sales 281,600 Millions of yen / Gross profit 35,400 Millions of yen / Selling, general and administrative expenses 26,900 Millions of yen / Operating profit 8,500 Millions of yen / Ordinary income 8,800 Millions of yen / Profit attributable to owners of the parent 6,500 Millions of yen / Sales volume 381 10,000 tonnes / EBITDA 130 Hundreds of millions of yen / ROE 10 % / ROIC 7 % / Total investment More than ¥7.5 billion
Progress against full-year forecastFiscal year ending March 2026 Net Sales 93.5 % / Operating profit 119 % / Ordinary income 123 % / Profit attributable to owners of the parent 122.6 % / Gross profit 100.1 % / Sales volume 98 % / EBITDA 114 % / Total investment 119 % / By segment Livestock Feed Business Net Sales 93.6 % / Segment profit 116.4 % / EBITDA 112.9 % / Aquatic Feed Business Net Sales 88.8 % / Segment profit 118.9 % / EBITDA 111.4 % / Food Business Net Sales 95.6 % / Segment profit 81.9 % / EBITDA 99.7 %
Self-assessment against the planInvestments carried out as planned
Segment resultsLivestock Feed Business Net Sales 223,744 Millions of yen (YoY -3.7%) / Segment profit 10,243 Millions of yen (YoY +20.0%) / EBITDA 12,987 Millions of yen (YoY +17.3%) / Aquatic Feed Business Net Sales 24,863 Millions of yen (YoY -3.0%) / Segment profit 1,426 Millions of yen (YoY +22.6%) / EBITDA 2,005 Millions of yen (YoY +19.4%) / Food Business Net Sales 42,053 Millions of yen (YoY +10.3%) / Segment profit 163 Millions of yen (YoY -42.4%) / EBITDA 398 Millions of yen (YoY -12.8%) / Other and adjustments Net Sales 13 Millions of yen (YoY -9.1%) / Segment profit -3,221 Millions of yen
Breakdown of Factors Affecting the ChangeLivestock feed business segment profit Declining sales volumes -377 Millions of yen / Increase in gross profit 2,001 Millions of yen / Increase in equity-method investment gains and losses, etc. 268 Millions of yen / Aquatic feed business segment profit Declining sales volumes -36 Millions of yen / Increase in gross profit 380 Millions of yen
Key KPIsSales volume 3,733 thousand tonnes (YoY -1.4%), EBITDA 12,779 Millions of yen (YoY +20.6%), ROE 11 %, ROIC 7.7 %, Equity ratio 46.4 %, Debt-to-equity ratio 0.4 times
Unit price and quantity metricsLivestock feed Sales volume 3,635 thousand tonnes (YoY -1.4%) / Corn import price Down 1.6% year on year / Feed selling price Selling price trends shown / Aquatic feed Sales volume 98 thousand tonnes (YoY -1.2%) / Fishmeal import price Down 8.0% year on year
Number of employees935 People
Assumptions Underlying the Business OutlookLivestock feed sales volume 3,700 thousand tonnes / Aquafeed sales volume 115 thousand tonnes / Livestock feed price revisions Selling prices revised once per quarter in line with changes in raw material prices
Medium-term management plan targetsFiscal year ending March 2027 EBITDA 115 Hundreds of millions of yen / ROE 8 % or higher / ROIC 6 % or higher / Fiscal year ending March 2034 Sales volume At least 20% share of the livestock feed market / EBITDA ¥16 billion or more / ROE 10% or higher / ROIC 8% or higher
Financial targetsROE Medium-term management plan targets 8% or higher / Actual results 11.0% / ROIC Medium-term management plan targets At least 6% / Actual results 7.7% / Equity ratio Actual results 46.4% / Debt-to-equity ratio Actual results 0.40
Annual DividendAnnual ¥80 per share / Interim ¥21 per share / End of period ¥24.5 per share
Payout ratioNot disclosed (DOE target: 3%)
Capital expenditures¥11,857 million (total investment)
Market Size / ShareLivestock feed distribution volume Approximately 24 million tonnes / Feed One market share 15% / Aquatic feed market size Approximately one-sixth the size of the livestock feed market
New initiativesExpanding sales of fishmeal-free and low-fishmeal feed, Expanding sales of differentiated products, including heat-stress countermeasure products, Containing costs by passing costs through to selling prices and improving manufacturing efficiency, Initiatives to improve transport efficiency (DX)
Items this document does not state (7)
Gross Profit MarginOperating profit marginNumber of stores and locationsRisk amount incorporated into the outlookAcquisition 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.

In the livestock and aquatic feed businesses, sales volumes declined as the company focused on profitability, but profit increased due to higher gross profit and favorable raw material market conditions. The food business reported lower profit due to persistently high egg prices and increased depreciation expenses following the start-up of a new plant, although reforms to its earnings structure progressed.

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Supplementary Information on Full-Year Financial Results for the Fiscal Year Ending March 2026 | FEED ONE CO.,LTD. (2060) timely disclosure | Komori