Worth reading
54Recurring
Scored from 5 of 6 sectionsDirection
Mixed performance
Direction inferred from the company’s description.Scale
2.6
% (year-on-year change in consolidated revenue)Wording
Conditional
How definitive the wording is.Results for this period
Interim period (second quarter)1 April 2026 to 30 September 2026ConsolidatedJapanese GAAPNet Sales300,821¥ millionYear on year +2.6%Progress 51.0%
Operating profit21,107¥ millionYear on year +1.5%Progress 54.1%
Ordinary income21,205¥ millionYear on year -3.4%Progress 54.0%
Net income attributable to owners of the parent13,675¥ millionYear on year -6.6%Progress 59.5%
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¥42.36
Financial position at period-end
Total assets577,302¥ million
of which net assets 289,304 ¥ millionEquity ratio 49.2%vs. prior year-end -1.0pt
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.
Segment revenue
Growth Fields71,44223.7%
Core businesses186,19161.9%
Developing and other businesses43,18814.4%
Segment profit
Growth Fields8,64641.0%
Core businesses10,90451.7%
Developing and other businesses1,5577.4%
Regional sales
Domestic Business248,86982.7%
Overseas Business51,95217.3%
Outlook and shareholder returns
Full-year earnings forecast
Net Sales¥590,000 million (YoY +3.2%)
Operating profit¥39,000 million (YoY +13.1%)
Ordinary income¥39,300 million (YoY +5.9%)
Net income¥23,000 million (YoY +1.8%)
Revision to Earnings ForecastNot disclosed → Net Sales 590,000 / Operating profit 39,000 / Ordinary income 39,300 / Net income 23,000
Annual Dividend Forecast¥100.00 (actual for the fiscal year ended March 2026, before the stock split) → ¥28.00 (forecast for the fiscal year ending March 2027)
Shareholder Return PolicyTarget payout ratio: 40%. The company plans to acquire treasury shares flexibly depending on circumstances.
Factors Behind Changes in Business Performance
In Japan, price revisions, improvements to the product mix, controls on administrative expenses and the reorganization of the production structure contributed to profit, while lower sales volumes and higher costs for raw materials, energy, logistics and personnel had an adverse impact. Overseas, higher selling prices at MILEI GmbH, reflecting the rise in whey protein market prices, expanded sales of microbial products and infant formula, and the effects of streamlining the US business contributed to higher profit.
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 consolidationAdded 0 companies; removed 0 companies.
Impairment lossNo impairment loss recognized during the interim period (shown as “-” in the table). No applicable assets.
Breakdown of extraordinary income (loss)Extraordinary income Gain on sale of non-current assets ¥124 million, Gain on sale of investment securities ¥293 million, Gain on transfer of business ¥700 million, Gain on changes in equity ¥320 million, Other ¥28 million / Extraordinary loss Loss on disposal of fixed assets ¥327 million, Contribution to Hikari Association ¥820 million, Business restructuring loss ¥695 million, Other ¥566 million
Availability of Supplementary Financial Results MaterialsAvailable
Availability of Financial Results BriefingYes (for institutional investors and analysts)
Issued Shares at Period-End344,719,144 shares
Treasury Shares at Period-End21,848,241 shares
| 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 | ¥300,821 million (YoY +2.6%) |
| Operating profit | ¥21,107 million (YoY +1.5%) |
| Ordinary income | ¥21,205 million (YoY -3.4%) |
| Profit attributable to owners of the parent | ¥13,675 million (YoY -6.6%) |
| Net income per share | ¥42.36 |
| Equity ratio | End of the current fiscal period 49.2 / End of previous period 50.2 |
| Total assets | ¥577,302 million |
| Net assets | ¥289,304 million |
| Full-year earnings forecast | Net Sales ¥590,000 million (YoY +3.2%) / Operating profit ¥39,000 million (YoY +13.1%) / Ordinary income ¥39,300 million (YoY +5.9%) / Net income ¥23,000 million (YoY +1.8%) |
| Revision to Earnings Forecast | Not disclosed → Net Sales 590,000 / Operating profit 39,000 / Ordinary income 39,300 / Net income 23,000 |
| Annual Dividend Forecast | ¥100.00 (actual for the fiscal year ended March 2026, before the stock split) → ¥28.00 (forecast for the fiscal year ending March 2027) |
| Shareholder Return Policy | Target payout ratio: 40%. The company plans to acquire treasury shares flexibly depending on circumstances. |
| Segment revenue | Growth Fields ¥71,442 million / Core businesses ¥186,191 million / Developing and other businesses ¥43,188 million |
| Segment profit | Growth Fields ¥8,646 million / Core businesses ¥10,904 million / Developing and other businesses ¥1,557 million |
| Regional sales | Domestic Business ¥248,869 million / Overseas Business ¥51,952 million |
| Impairment loss | No impairment loss recognized during the interim period (shown as “-” in the table). No applicable assets. |
| Breakdown of extraordinary income (loss) | Extraordinary income Gain on sale of non-current assets ¥124 million, Gain on sale of investment securities ¥293 million, Gain on transfer of business ¥700 million, Gain on changes in equity ¥320 million, Other ¥28 million / Extraordinary loss Loss on disposal of fixed assets ¥327 million, Contribution to Hikari Association ¥820 million, Business restructuring loss ¥695 million, Other ¥566 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 | Added 0 companies; removed 0 companies. |
| Availability of Supplementary Financial Results Materials | Available |
| Availability of Financial Results Briefing | Yes (for institutional investors and analysts) |
| Issued Shares at Period-End | 344,719,144 shares |
| Treasury Shares at Period-End | 21,848,241 shares |
| Factors Behind Changes in Business Performance | In Japan, price revisions, improvements to the product mix, controls on administrative expenses and the reorganization of the production structure contributed to profit, while lower sales volumes and higher costs for raw materials, energy, logistics and personnel had an adverse impact. Overseas, higher selling prices at MILEI GmbH, reflecting the rise in whey protein market prices, expanded sales of microbial products and infant formula, and the effects of streamlining the US business contributed to higher profit. |
Items this document does not state (9)
Operating MarginCash flows from operating activitiesCash flows from investing activitiesCash flows from financing activitiesCash and cash equivalents at end of periodPayout ratioOrders received and order backlogDepreciation and amortizationMaterial subsequent events
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 company explained that price revisions, an improved product mix, expense controls and the reorganization of its production structure contributed to operating profit, while lower sales volumes and higher costs for raw materials, energy, logistics and personnel had an adverse impact. Overseas, higher selling prices at MILEI GmbH, reflecting the rise in whey protein market prices, contributed to higher revenue and profit.
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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Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.