Worth reading
69In focus
Scored from 5 of 6 sectionsDirection
Mixed performance
Direction inferred from the company’s description.Scale
26.7
Year-on-year change (ordinary profit, %)Wording
Conditional
How definitive the wording is.Contents of this document
Supplementary materials to the earnings reportFirst quarter of the fiscal year ending March 202710 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥78,443 million+9.0%
Operating profit¥2,140 million+45.0%
Ordinary income¥2,360 million+26.7%
Net income¥1,761 million+7.6%
Selling, general and administrative expenses¥6,484 million
Results for the three months of the current quarter
Net Sales
¥78,443 million
Operating profit
¥2,140 million
Ordinary income
¥2,360 million
Profit attributable to owners of parent for the quarter
¥1,761 million
Full-year earnings forecast
Net Sales
¥317,000 million
Cost of sales
¥281,600 million
Gross profit
¥35,400 million
Selling, general and administrative expenses
¥26,900 million
Operating profit
¥8,500 million
Ordinary income
¥8,800 million
Profit attributable to owners of the parent
¥6,500 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 Sales24.7
Gross profit24.4
Operating profit25.2
Ordinary income26.8
Profit attributable to owners of the parent27.1
Sales volume24
EBITDA27
Total investment14
Livestock feed business revenue24.6
Livestock feed business segment profit26
Livestock feed business EBITDA25.9
Aquafeed business revenue25.2
Aquafeed business segment profit14
Aquafeed business EBITDA17.2
Food business revenue25.2
Food business segment profit36.7
Food business EBITDA33.7
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Progressing without delay against the plan / broadly progressing as expected at presentBreakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Livestock Feed Business
Volume factor26
Profitability factors574
Aquatic Feed Business
Volume factor463
Profitability factors-458
Food business: egg division125
Food business: meat division-1
New initiatives
- Transition to a value-added, solutions-based business model
- Use of alternative raw materials, including insect protein
- Reduction of manufactured product lines and optimization of raw material and product inventories
- Expansion of sales of fishmeal substitute products, including fishmeal-free feed
- A second price revision for the current fiscal year is scheduled for October 2026
Key KPIsA metric the company considers important as a management benchmark.
- Sales volume934 thousand tonnes+1.4%
- EBITDA¥3,448 million+20.2%
- Total investment¥1,076 million
- Profit per tonne in the livestock feed business (most recent)¥2,818 /tonne
- Number of 1-on-1 meetings16 Engagements
Segment results
Livestock Feed Business
Net Sales
¥59,012 million+4.6%
Segment profit
¥2,702 million+16.6%
EBITDA
¥3,416 million+14.6%
Aquatic Feed Business
Net Sales
¥7,818 million+50.1%
Segment profit
¥210 million-30.4%
EBITDA
¥361 million-18.2%
Food Business
Net Sales
¥11,610 million+12.2%
Segment profit
¥110 million
EBITDA
¥168 million+277.6%
Other/adjustments
Net Sales
¥1 million-40.5%
Segment profit
¥-663 million
Medium-term management plan targets
Phase 2, Stage 1 (fiscal years ending March 2025 to March 2027)
EBITDA
115 Hundreds of millions of yen
Target fiscal yearFiscal year ending March 2027
ROE
8 %
Target fiscal yearFiscal year ending March 2027
ROIC
6 %
Target fiscal yearFiscal year ending March 2027
Total investment
600 Hundreds of millions of yen
Period CoveredFiscal years ending March 2025 to March 2030
Financial targets
Equity ratio
46.1 %
As ofFirst quarter of the fiscal year ending March 2027
D/E ratio
0.39 times
As ofFirst quarter of the fiscal year ending March 2027
Medium-term target
ROE8% or higher (fiscal year ending March 2027)
ROIC6% or higher (fiscal year ending March 2027)
Market Size / Share
Livestock feed market sizeApproximately 24 million tonnes
Feed One's market share15%
Aquatic feed market sizeApproximately one-sixth of the livestock feed market
Number of employees
935 People
As of31 March 2026
Capital expenditures
¥1,076 million total investment
| Item | Details |
|---|---|
| Document type | Supplementary materials to the earnings report |
| Fiscal Period Covered | First quarter of the fiscal year ending March 2027 |
| Net Sales | ¥78,443 million (YoY +9.0%) |
| Operating profit | ¥2,140 million (YoY +45.0%) |
| Ordinary income | ¥2,360 million (YoY +26.7%) |
| Net income | ¥1,761 million (YoY +7.6%) |
| Selling, general and administrative expenses | ¥6,484 million |
| Results for the three months of the current quarter | Net Sales ¥78,443 million / Operating profit ¥2,140 million / Ordinary income ¥2,360 million / Profit attributable to owners of parent for the quarter ¥1,761 million |
| Full-year earnings forecast | Net Sales ¥317,000 million / Cost of sales ¥281,600 million / Gross profit ¥35,400 million / Selling, general and administrative expenses ¥26,900 million / Operating profit ¥8,500 million / Ordinary income ¥8,800 million / Profit attributable to owners of the parent ¥6,500 million |
| Progress against full-year forecast | Net Sales 24.7 / Gross profit 24.4 / Operating profit 25.2 / Ordinary income 26.8 / Profit attributable to owners of the parent 27.1 / Sales volume 24 / EBITDA 27 / Total investment 14 / Livestock feed business revenue 24.6 / Livestock feed business segment profit 26 / Livestock feed business EBITDA 25.9 / Aquafeed business revenue 25.2 / Aquafeed business segment profit 14 / Aquafeed business EBITDA 17.2 / Food business revenue 25.2 / Food business segment profit 36.7 / Food business EBITDA 33.7 |
| Self-assessment against the plan | Progressing without delay against the plan / broadly progressing as expected at present |
| Segment results | Livestock Feed Business Net Sales ¥59,012 million (YoY +4.6%) / Segment profit ¥2,702 million (YoY +16.6%) / EBITDA ¥3,416 million (YoY +14.6%) / Aquatic Feed Business Net Sales ¥7,818 million (YoY +50.1%) / Segment profit ¥210 million (YoY -30.4%) / EBITDA ¥361 million (YoY -18.2%) / Food Business Net Sales ¥11,610 million (YoY +12.2%) / Segment profit ¥110 million / EBITDA ¥168 million (YoY +277.6%) / Other/adjustments Net Sales ¥1 million (YoY -40.5%) / Segment profit ¥-663 million |
| Breakdown of Factors Affecting the Change | Livestock Feed Business Volume factor 26 / Profitability factors 574 / Aquatic Feed Business Volume factor 463 / Profitability factors -458 / Food business: egg division 125 / Food business: meat division -1 |
| Key KPIs | Sales volume 934 thousand tonnes (YoY +1.4%), EBITDA ¥3,448 million (YoY +20.2%), Total investment ¥1,076 million, Profit per tonne in the livestock feed business (most recent) ¥2,818 /tonne, Number of 1-on-1 meetings 16 Engagements |
| Number of employees | 935 People |
| Medium-term management plan targets | Subject Phase 2, Stage 1 (fiscal years ending March 2025 to March 2027) / EBITDA 115 Hundreds of millions of yen / ROE 8 % / ROIC 6 % / Total investment 600 Hundreds of millions of yen |
| Financial targets | Equity ratio 46.1 % / D/E ratio 0.39 times / Medium-term target ROE 8% or higher (fiscal year ending March 2027) / ROIC 6% or higher (fiscal year ending March 2027) |
| Capital expenditures | ¥1,076 million (total investment) |
| Market Size / Share | Livestock feed market size Approximately 24 million tonnes / Feed One's market share 15% / Aquatic feed market size Approximately one-sixth of the livestock feed market |
| New initiatives | Transition to a value-added, solutions-based business model, Use of alternative raw materials, including insect protein, Reduction of manufactured product lines and optimization of raw material and product inventories, Expansion of sales of fishmeal substitute products, including fishmeal-free feed, A second price revision for the current fiscal year is scheduled for October 2026 |
Items this document does not state (11)
Gross Profit MarginOperating profit marginUnit price and quantity metricsNumber of stores and locationsAssumptions Underlying the Business OutlookRisk 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.Revenue increased due to higher sales volumes and price revisions for livestock feed. In the livestock feed business, higher earnings were supported by expanded sales of new products and milk replacers, increased sales of feed for pigs and cattle, and wider gross margins resulting from appropriate pricing. Meanwhile, earnings in the aquafeed business declined due to soaring fishmeal prices.
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.