Komori
Financial results presentation2222Kotobuki Spirits Co.,Ltd.Food

Financial Results Briefing Materials for the Fiscal Year Ending March 2026

For the fiscal year ending March 2026, net sales, operating profit, ordinary profit and net income all exceeded the previous fiscal year, reaching record highs. However, net sales and each profit figure fell short of the initial forecasts, and profit margins declined due to higher raw material and promotional expenses.

Worth reading
77Important
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
987
¥ million (year-on-year increase in operating income)
Wording
Conditional
How definitive the wording is.

Contents of this document

Financial results presentationFiscal year ending March 2026, full year13 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥78,781 million+8.9%
Operating profit¥18,598 million+5.6%
Ordinary income¥18,733 million+5.9%
Net income¥12,557 million+3.6%
Gross Profit Margin61.4 %
Operating profit margin23.6 %
Selling, general and administrative expenses¥29,789 million
Results for the three months of the current quarter
Net Sales
¥20,295 million+9.5%
Operating profit
¥4,586 million+12.8%
Full-year earnings forecast
Net Sales
¥84,500 million
Gross profit
¥52,520 million
Selling, General and Administrative Expenses
¥31,970 million
Operating profit
¥20,550 million
Ordinary income
¥20,610 million
Net income
¥13,810 million
EPS
¥89.42
Annual Dividend
¥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。
Achievement rate against the initial forecast for the fiscal year ending March 2026
Net Sales98.9
Gross profit97.6
Selling, General and Administrative Expenses99.5
Operating profit94.6
Ordinary income95
Net income93.7
What the company explained in this material
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 Group2,356
ケイシイシイ1,701
寿製菓グループ Group1,752
Sales subsidiaries576
Other-18
Adjustments62
Operating profit
シュクレイグループ Group289
ケイシイシイ-190
寿製菓グループ Group582
Sales subsidiaries143
Other-26
Adjustments188
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Inbound sales
¥11,500 million
Year on year+7.5%
Impact of worsening Japan-China relationsAssumed to continue for the time being
New initiatives
  • Construction of a new plant in Miyakojima, Okinawa Prefecture (total planned investment of ¥2.9 billion, scheduled to begin operations in June 2027)
  • Establishment of 株式会社箱根ときのみ and development of a new brand in Hakone
  • Opening stores under new brands (ソルトラ, バニスタ, 博ったらし, ハローメイプリ and Shu Shu)
  • Rebranding of 東京ミルクチーズ工場 and opening of a flagship store
  • Plan to open a total of 7 stores and close 1 store in the fiscal year ending March 2027
Key KPIsA metric the company considers important as a management benchmark.
  • Inbound revenue (international terminal revenue)¥10,701 million
    Year on year against the same period last year+6.8%
  • Sales to Okinawa¥1,977 million
    Year on year against the same period last year+55.7%
  • Number of new stores11 Location
  • Number of store closures9 Location
  • Shareholders93,272 people
    Year on year against the same period last year+63.9%
Segment results
シュクレイグループ Group
Net Sales
¥37,054 million+6.8%
Operating profit
¥7,087 million+4.3%
ケイシイシイ
Net Sales
¥23,184 million+7.9%
Operating profit
¥4,833 million-3.8%
寿製菓グループ Group
Net Sales
¥16,298 million+12.1%
Operating profit
¥3,823 million+18.0%
Sales subsidiaries
Net Sales
¥7,804 million+8.0%
Operating profit
¥1,089 million+15.1%
Other
Net Sales
¥674 million-2.6%
Operating profit
¥28 million-47.9%
Medium-term management plan targets
Ordinary income margin
30 %
Target fiscal yearFiscal year ending March 2030
Ordinary income
¥350 100 million
Target fiscal yearFiscal year ending March 2030
Five-year average sales growth rate
10 %
Target fiscal yearFiscal year ending March 2030
ROE
30 % or higher
Target fiscal yearFiscal year ending March 2030
Financial targets
ROE
TargetAt least 30%
Actual results28.5 %
Cost of shareholders’ equity
5.99 %
Number of stores and locations
Stores opened during the period11
Stores closed during the period9
Number of employees
1,801 People consolidated
Capital expenditures
2,570 Millions of yen fiscal year ended March 2026 actual
Annual Dividend
Annual dividend per share¥35
Payout ratio
39.1 %
Total payout ratioTargeting a total payout ratio of 50% or higher
Acquisition of treasury shares
PolicyConduct share repurchases flexibly
Contents of this document
ItemDetails
Document typeFinancial results presentation
Fiscal Period CoveredFiscal year ending March 2026, full year
Net Sales¥78,781 million (YoY +8.9%)
Operating profit¥18,598 million (YoY +5.6%)
Ordinary income¥18,733 million (YoY +5.9%)
Net income¥12,557 million (YoY +3.6%)
Gross Profit Margin61.4 %
Operating profit margin23.6 %
Selling, general and administrative expenses¥29,789 million
Results for the three months of the current quarterNet Sales ¥20,295 million (YoY +9.5%) / Operating profit ¥4,586 million (YoY +12.8%)
Full-year earnings forecastNet Sales ¥84,500 million / Gross profit ¥52,520 million / Selling, General and Administrative Expenses ¥31,970 million / Operating profit ¥20,550 million / Ordinary income ¥20,610 million / Net income ¥13,810 million / EPS ¥89.42 / Annual Dividend ¥35
Progress against full-year forecastNet Sales 98.9 / Gross profit 97.6 / Selling, General and Administrative Expenses 99.5 / Operating profit 94.6 / Ordinary income 95 / Net income 93.7 / Subject Achievement rate against the initial forecast for the fiscal year ending March 2026
Segment resultsシュクレイグループ Group Net Sales ¥37,054 million (YoY +6.8%) / Operating profit ¥7,087 million (YoY +4.3%) / ケイシイシイ Net Sales ¥23,184 million (YoY +7.9%) / Operating profit ¥4,833 million (YoY -3.8%) / 寿製菓グループ Group Net Sales ¥16,298 million (YoY +12.1%) / Operating profit ¥3,823 million (YoY +18.0%) / Sales subsidiaries Net Sales ¥7,804 million (YoY +8.0%) / Operating profit ¥1,089 million (YoY +15.1%) / Other Net Sales ¥674 million (YoY -2.6%) / Operating profit ¥28 million (YoY -47.9%)
Breakdown of Factors Affecting the ChangeNet Sales シュクレイグループ Group 2,356 / ケイシイシイ 1,701 / 寿製菓グループ Group 1,752 / Sales subsidiaries 576 / Other -18 / Adjustments 62 / Operating profit シュクレイグループ Group 289 / ケイシイシイ -190 / 寿製菓グループ Group 582 / Sales subsidiaries 143 / Other -26 / Adjustments 188
Key KPIsInbound revenue (international terminal revenue) ¥10,701 million, Sales to Okinawa ¥1,977 million, Number of new stores 11 Location, Number of store closures 9 Location, Shareholders 93,272 people
Number of stores and locationsNumber at period-end Not disclosed / Stores opened during the period 11 / Stores closed during the period 9
Number of employees1,801 People (consolidated)
Assumptions Underlying the Business OutlookInbound sales ¥11,500 million / Impact of worsening Japan-China relations Assumed to continue for the time being
Medium-term management plan targetsOrdinary income margin 30 % / Ordinary income ¥350 100 million / Five-year average sales growth rate 10 % / ROE 30 % or higher
Financial targetsROE Target At least 30% / Actual results 28.5 % / Cost of shareholders’ equity 5.99 %
Annual DividendAnnual dividend per share ¥35 / Interim Not disclosed / End of period Not disclosed
Payout ratio39.1 %
Acquisition of treasury sharesPolicy Conduct share repurchases flexibly / Amount under the acquisition limit Not disclosed / Number of Shares Not disclosed / Period Not disclosed
Capital expenditures2,570 Millions of yen (fiscal year ended March 2026 actual)
New initiativesConstruction of a new plant in Miyakojima, Okinawa Prefecture (total planned investment of ¥2.9 billion, scheduled to begin operations in June 2027), Establishment of 株式会社箱根ときのみ and development of a new brand in Hakone, Opening stores under new brands (ソルトラ, バニスタ, 博ったらし, ハローメイプリ and Shu Shu), Rebranding of 東京ミルクチーズ工場 and opening of a flagship store, Plan to open a total of 7 stores and close 1 store in the fiscal year ending March 2027
Items this document does not state (6)
Self-assessment against the planUnit price and quantity metricsRisk 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.

The first half of the fiscal year was challenging due to higher manufacturing costs driven by soaring raw material prices and other factors, but performance entered a recovery trend in the second half following the implementation of proactive measures. These included opening new stores, renewing brands and strengthening promotions targeting inbound visitors.

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.
Financial Results Briefing Materials for the Fiscal Year Ending March 2026 | Kotobuki Spirits Co.,Ltd. (2222) timely disclosure | Komori