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Financial Results Presentation2222Kotobuki Spirits Co.,Ltd.Food

2026年3月期第2四半期（中間期）決算説明会資料

上期は各種施策や国内卸売の伸長で売上高が前年同期比8.8％増えた一方、原材料高などで利益率が低下し、営業利益はわずかに減少した。会社は通期予想を据え置き、下期の新規出店や価格改定などで挽回を目指している。

Worth reading
72In focus
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
2881
¥ million (year-on-year increase in revenue)
Wording
Conditional
How definitive the wording is.

Contents of this document

Financial Results Presentation2026年3月期 第2四半期（中間期）13 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales35,787 Millions of yen+8.8%
Operating profit7,441 Millions of yen-0.5%
Ordinary income7,517 Millions of yen-0.0%
Net income5,016 Millions of yen+0.5%
Selling, general and administrative expenses14,085 Millions of yen
Gross Profit Margin
Rate60.1%
Year-on-year change (points)前年同期の61.9%から1.8ポイント低下
Operating profit margin
Rate20.8%
Year-on-year change (points)前年同期の22.7%から1.9ポイント低下
Results for the three months of the current quarter売上高は第1四半期16,976百万円、第2四半期18,811百万円。営業利益は第1四半期3,439百万円、第2四半期4,001百万円。
Full-year earnings forecast
Net Sales
79,670 Millions of yen
Gross profit
49,600 Millions of yen
Selling, General and Administrative Expenses
29,950 Millions of yen
Operating profit
19,650 Millions of yen
Ordinary income
19,720 Millions of yen
Net income for the current fiscal year
13,400 Millions of yen
EPS
¥86.81
Dividend per share
¥35
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 Sales44.9%（上期実績／通期予想の資料記載値）
Ordinary income38.1%（上期実績／通期予想の資料記載値）
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
期初予想に対して、売上高99.5%、営業利益90.0%、中間純利益90.9%の達成。原材料価格高騰などにより売上総利益率は期初予想を2.2ポイント下回った。
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Net Sales
シュクレイグループ Group1,034
ケイシイシイ916
寿製菓グループ Group866
Sales subsidiaries173
Other1
Adjustments-111
Operating profit
シュクレイグループ Group-204
ケイシイシイ-160
寿製菓グループ Group214
Sales subsidiaries28
Other-11
Adjustments99
New initiatives
  • 東京ミルクチーズ工場のリブランド後初のフラッグシップ店舗をニュウマン高輪に出店
  • 下期に阪神梅田本店、西武池袋本店へ新ブランドを出店予定
  • 福岡空港国際線ターミナルにグループ初の直営店を2店舗出店予定
  • 新商品・新ブランドの投入、既存ブランド商品のリニューアル
  • 総還元性向50%以上を意識した株主還元方針
Key KPIsA metric the company considers important as a management benchmark.
  • Inbound revenue (international terminal revenue)5,083 Millions of yen
    Year on year against the same period last year+9.5%
  • Shareholders61,381 People
    Year on year against the same period last year前期末比4,080名増
  • ROE（25年3月期）32.2 %
    Year on year against the same period last year前年同期の35.1%から低下
  • PBR（25年3月期末）9.36 times
  • Cost of shareholders’ equity9.51 %
Segment results
シュクレイグループ Group
Net Sales
16,563 Millions of yen+6.7%
Operating profit
2,641 Millions of yen-7.2%
ケイシイシイ
Net Sales
10,272 Millions of yen+9.8%
Operating profit
1,830 Millions of yen-8.1%
寿製菓グループ Group
Net Sales
8,141 Millions of yen+11.9%
Operating profit
1,789 Millions of yen+13.6%
Sales subsidiaries
Net Sales
3,741 Millions of yen+4.9%
Operating profit
474 Millions of yen+6.3%
Other
Net Sales
310 Millions of yen+0.6%
Operating profit
5 Millions of yen-64.7%
Medium-term management plan targets
Value Up Vision 2030
Target fiscal yearFiscal year ending March 2030
Ordinary income margin30%
Ordinary income¥35.0 billion
5ヵ年の平均売上成長率10%
ROEAt least 30%
Financial targets
ROE targetAt least 30%
Actual ROE25年3月期32.2%
株主資本コスト実績9.51%
Number of stores and locations
出退店は3店舗出店、3店舗退店。期末の店舗総数はNot disclosed。
Number of employees
Number of Employees1,842 人連結、2025年9月30日現在
Capital expenditures
¥2,500 million2026年3月期計画
Annual Dividend
Annual dividend per share¥35
Payout ratio
Rate40.3 %2026年3月期予想
Total payout ratioTargeting a total payout ratio of 50% or higher
Acquisition of treasury shares
機動的な自己株式取得を実施する方針。取得枠の金額・株数・期間はNot disclosed。
Contents of this document
ItemDetails
Document typeFinancial Results Presentation
Fiscal Period Covered2026年3月期 第2四半期（中間期）
Net Sales35,787 Millions of yen (YoY +8.8%)
Operating profit7,441 Millions of yen (YoY -0.5%)
Ordinary income7,517 Millions of yen (YoY -0.0%)
Net income5,016 Millions of yen (YoY +0.5%)
Gross Profit MarginRate 60.1% / Year-on-year change (points) 前年同期の61.9%から1.8ポイント低下
Operating profit marginRate 20.8% / Year-on-year change (points) 前年同期の22.7%から1.9ポイント低下
Selling, general and administrative expenses14,085 Millions of yen
Results for the three months of the current quarter売上高は第1四半期16,976百万円、第2四半期18,811百万円。営業利益は第1四半期3,439百万円、第2四半期4,001百万円。
Full-year earnings forecastNet Sales 79,670 Millions of yen / Gross profit 49,600 Millions of yen / Selling, General and Administrative Expenses 29,950 Millions of yen / Operating profit 19,650 Millions of yen / Ordinary income 19,720 Millions of yen / Net income for the current fiscal year 13,400 Millions of yen / EPS ¥86.81 / Dividend per share ¥35
Progress against full-year forecastNet Sales 44.9%（上期実績／通期予想の資料記載値） / Ordinary income 38.1%（上期実績／通期予想の資料記載値）
Self-assessment against the plan期初予想に対して、売上高99.5%、営業利益90.0%、中間純利益90.9%の達成。原材料価格高騰などにより売上総利益率は期初予想を2.2ポイント下回った。
Segment resultsシュクレイグループ Group Net Sales 16,563 Millions of yen (YoY +6.7%) / Operating profit 2,641 Millions of yen (YoY -7.2%) / ケイシイシイ Net Sales 10,272 Millions of yen (YoY +9.8%) / Operating profit 1,830 Millions of yen (YoY -8.1%) / 寿製菓グループ Group Net Sales 8,141 Millions of yen (YoY +11.9%) / Operating profit 1,789 Millions of yen (YoY +13.6%) / Sales subsidiaries Net Sales 3,741 Millions of yen (YoY +4.9%) / Operating profit 474 Millions of yen (YoY +6.3%) / Other Net Sales 310 Millions of yen (YoY +0.6%) / Operating profit 5 Millions of yen (YoY -64.7%)
Breakdown of Factors Affecting the ChangeNet Sales シュクレイグループ Group 1,034 / ケイシイシイ 916 / 寿製菓グループ Group 866 / Sales subsidiaries 173 / Other 1 / Adjustments -111 / Operating profit シュクレイグループ Group -204 / ケイシイシイ -160 / 寿製菓グループ Group 214 / Sales subsidiaries 28 / Other -11 / Adjustments 99
Key KPIsIndicator name Inbound revenue (international terminal revenue) / Value 5,083 Millions of yen / Year on year against the same period last year 9.5 Millions of yen, Indicator name Shareholders / Value 61,381 People / Year on year against the same period last year 前期末比4,080名増, Indicator name ROE（25年3月期） / Value 32.2 % / Year on year against the same period last year 前年同期の35.1%から低下, Indicator name PBR（25年3月期末） / Value 9.36 times / Year on year against the same period last year Not disclosed, Indicator name Cost of shareholders’ equity / Value 9.51 % / Year on year against the same period last year Not disclosed
Number of stores and locations出退店は3店舗出店、3店舗退店。期末の店舗総数はNot disclosed。
Number of employeesNumber of Employees 1,842 人（連結、2025年9月30日現在） / Changes during the period and hiring plan Not disclosed
Medium-term management plan targetsName Value Up Vision 2030 / Target fiscal year Fiscal year ending March 2030 / Ordinary income margin 30% / Ordinary income ¥35.0 billion / 5ヵ年の平均売上成長率 10% / ROE At least 30%
Financial targetsROE target At least 30% / Actual ROE 25年3月期32.2% / 株主資本コスト実績 9.51%
Annual DividendAnnual dividend per share ¥35 / Interim and Year-End Breakdown Not disclosed
Payout ratioRate 40.3 %（2026年3月期予想） / Total payout ratio Targeting a total payout ratio of 50% or higher
Acquisition of treasury shares機動的な自己株式取得を実施する方針。取得枠の金額・株数・期間はNot disclosed。
Capital expenditures2,500 百万円（2026年3月期計画）
New initiatives東京ミルクチーズ工場のリブランド後初のフラッグシップ店舗をニュウマン高輪に出店, 下期に阪神梅田本店、西武池袋本店へ新ブランドを出店予定, 福岡空港国際線ターミナルにグループ初の直営店を2店舗出店予定, 新商品・新ブランドの投入、既存ブランド商品のリニューアル, 総還元性向50%以上を意識した株主還元方針
Items this document does not state (6)
Unit price and quantity metricsAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookOrders 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.

売上高は各種施策効果や寿製菓グループの貢献により増加した。利益面では原材料価格の高騰などによる製造コスト増加、夏場のインバウンド需要の低調に伴う生産調整が売上総利益率を押し下げた。下期はインバウンド対策、価格改定、新ブランド・新商品、季節イベント対策、出店攻勢、生産稼働上昇による生産性改善で巻き返すとしている。

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.
2026年3月期第2四半期（中間期）決算説明会資料 | Kotobuki Spirits Co.,Ltd. (2222) timely disclosure | Komori