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Financial results presentation2270MEGMILK SNOW BRAND Co.,Ltd.Food

Supplementary Explanatory Materials for the Financial Results for the Fiscal Year Ending March 2026

For the fiscal year ended March 2026, revenue remained at approximately the previous year's level and operating profit declined, while net income attributable to owners of the parent increased substantially due to higher extraordinary income. For the fiscal year ending March 2027, the company forecasts higher revenue and operating profit, but expects net income to decline.

Worth reading
51Recurring
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
-8
¥100 million (year-on-year change in operating profit for the fiscal year ended March 2026)
Wording
Conditional
How definitive the wording is.

Contents of this document

Supplementary materials to the earnings reportFull-year results for the fiscal year ended March 2026 (and full-year forecast for the fiscal year ending March 2027)10 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales6,157 Hundreds of millions of yen-0.0%
Operating profit182 Hundreds of millions of yen-4.5%
Ordinary income204 Hundreds of millions of yen+1.1%
Net income328 Hundreds of millions of yen+136.6%
Selling, general and administrative expenses860 Hundreds of millions of yen
Operating profit margin
Rate3.0% (actual for the fiscal year ended March 2026), 3.3% (forecast for the fiscal year ending March 2027)
Full-year earnings forecast
Net Sales
6,450 Hundreds of millions of yen
Operating profit
210 Hundreds of millions of yen
Ordinary income
218 Hundreds of millions of yen
Profit attributable to owners of parent
245 Hundreds of millions of yen
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Actual results for the fiscal year ending March 2026
Selling price variance215
Change in sales volume-55
Product mix variance7
Change in raw material costs-91
Change in operating costs-27
Change in advertising and sales promotion expenses2
Change in fixed expenses-59
Forecast for the fiscal year ending March 2027
Selling price variance95
Change in sales volume61
Product mix variance10
Change in raw material costs-52
Change in operating costs-13
Change in advertising and sales promotion expenses-21
Change in fixed expenses-53
New initiatives
  • Collaboration or restructuring involving 20–30% of domestic manufacturing sites
  • End of Production at the Kobe Plant
  • Planned end of production at the Okoppe plant
  • Planned end of production at the Kawagoe plant
Key KPIsA metric the company considers important as a management benchmark.
  • Operating profit from重点 functional products87 Hundreds of millions of yen
    Year on year against the same period last year+25.0%
  • Operating profit from alternative foods6 Hundreds of millions of yen
    Year on year against the same period last year+5.0%
  • Operating profit from cheese645 Hundreds of millions of yen
    Year on year against the same period last year+46.0%
  • Operating profit from white beverages817 Hundreds of millions of yen
    Year on year against the same period last year+81.0%
  • Area planted with self-supplied feed crops97 thousand ha
Segment results
  • Dairy products
    Net Sales2,684 Hundreds of millions of yen (YoY +1.9%)
    Operating profit105 Hundreds of millions of yen (YoY +1.1%)
  • Beverages and Desserts
    Net Sales2,602 Hundreds of millions of yen (YoY -1.5%)
    Operating profit39 Hundreds of millions of yen (YoY -30.9%)
  • Feed and Seeds
    Net Sales479 Hundreds of millions of yen (YoY -1.1%)
    Operating profit7 Hundreds of millions of yen (YoY +95.3%)
  • Other
    Net Sales391 Hundreds of millions of yen (YoY -1.4%)
    Operating profit31 Hundreds of millions of yen (YoY +16.0%)
Medium-term management plan targets
Plan nameNext Design 2030
Target fiscal yearFY2030
Target value
Operating profit
350 Hundreds of millions of yen
Adjusted ROE
9 %
ROIC
6 %
Leverage
1.5 times
Net debt-to-equity ratio
0.5 times
NOPAT
250 Hundreds of millions of yen
Invested capital
4,100 Hundreds of millions of yen
Comparison with actual resultsIncludes FY2025 operating profit of ¥18.2 billion, adjusted ROE of 5.8% and ROIC of 4.3%, among other figures
Financial targets
Adjusted ROE
Target value9 %
Actual value5.8 %
ROIC
Target value6 %
Actual value4.3 %
Net debt-to-equity ratio
Target value0.5 times
Actual value0.1 times
Equity ratio
Actual value55.7 %
Number of stores and locations
23 domestic manufacturing sites (FY2024). Production at the Kobe plant was completed in FY2025, production at the Okoppe plant is scheduled to end in FY2026, and production at the Kawagoe plant is scheduled to end in FY2028.
Number of employees
Number of Employees5,844 people
Capital expenditures
¥329 100 million FY2025 actual), ¥35.2 billion (full-year forecast for FY2026
Payout ratio
Rate19.1 %
Target fiscal yearFY2025
Contents of this document
ItemDetails
Document typeSupplementary materials to the earnings report
Fiscal Period CoveredFull-year results for the fiscal year ended March 2026 (and full-year forecast for the fiscal year ending March 2027)
Net Sales6,157 Hundreds of millions of yen (YoY -0.0%)
Operating profit182 Hundreds of millions of yen (YoY -4.5%)
Ordinary income204 Hundreds of millions of yen (YoY +1.1%)
Net income328 Hundreds of millions of yen (YoY +136.6%)
Operating profit marginRate 3.0% (actual for the fiscal year ended March 2026), 3.3% (forecast for the fiscal year ending March 2027) / Year-on-year change (points) Not disclosed
Selling, general and administrative expenses860 Hundreds of millions of yen
Full-year earnings forecastNet Sales 6,450 Hundreds of millions of yen / Operating profit 210 Hundreds of millions of yen / Ordinary income 218 Hundreds of millions of yen / Profit attributable to owners of parent 245 Hundreds of millions of yen
Segment resultsSegment Dairy products / Net Sales 2,684 Hundreds of millions of yen (YoY +1.9%) / Operating profit 105 Hundreds of millions of yen (YoY +1.1%), Segment Beverages and Desserts / Net Sales 2,602 Hundreds of millions of yen (YoY -1.5%) / Operating profit 39 Hundreds of millions of yen (YoY -30.9%), Segment Feed and Seeds / Net Sales 479 Hundreds of millions of yen (YoY -1.1%) / Operating profit 7 Hundreds of millions of yen (YoY +95.3%), Segment Other / Net Sales 391 Hundreds of millions of yen (YoY -1.4%) / Operating profit 31 Hundreds of millions of yen (YoY +16.0%)
Breakdown of Factors Affecting the ChangeActual results for the fiscal year ending March 2026 Selling price variance 215 / Change in sales volume -55 / Product mix variance 7 / Change in raw material costs -91 / Change in operating costs -27 / Change in advertising and sales promotion expenses 2 / Change in fixed expenses -59 / Forecast for the fiscal year ending March 2027 Selling price variance 95 / Change in sales volume 61 / Product mix variance 10 / Change in raw material costs -52 / Change in operating costs -13 / Change in advertising and sales promotion expenses -21 / Change in fixed expenses -53
Key KPIsIndicator name Operating profit from重点 functional products / Value 87 Hundreds of millions of yen / Year on year against the same period last year 25 Hundreds of millions of yen, Indicator name Operating profit from alternative foods / Value 6 Hundreds of millions of yen / Year on year against the same period last year 5 Hundreds of millions of yen, Indicator name Operating profit from cheese / Value 645 Hundreds of millions of yen / Year on year against the same period last year 46 Hundreds of millions of yen, Indicator name Operating profit from white beverages / Value 817 Hundreds of millions of yen / Year on year against the same period last year 81 Hundreds of millions of yen, Indicator name Area planted with self-supplied feed crops / Value 97 thousand ha / Year on year against the same period last year Not disclosed
Number of stores and locations23 domestic manufacturing sites (FY2024). Production at the Kobe plant was completed in FY2025, production at the Okoppe plant is scheduled to end in FY2026, and production at the Kawagoe plant is scheduled to end in FY2028.
Number of employeesNumber of Employees 5,844 people / Change during the period Not disclosed / Hiring plan Not disclosed
Medium-term management plan targetsPlan name Next Design 2030 / Target fiscal year FY2030 / Target value Operating profit 350 Hundreds of millions of yen / Adjusted ROE 9 % / ROIC 6 % / Leverage 1.5 times / Net debt-to-equity ratio 0.5 times / NOPAT 250 Hundreds of millions of yen / Invested capital 4,100 Hundreds of millions of yen / Comparison with actual results Includes FY2025 operating profit of ¥18.2 billion, adjusted ROE of 5.8% and ROIC of 4.3%, among other figures
Financial targetsAdjusted ROE Target value 9 % / Actual value 5.8 % / ROIC Target value 6 % / Actual value 4.3 % / Net debt-to-equity ratio Target value 0.5 times / Actual value 0.1 times / Equity ratio Actual value 55.7 % / Target value Not disclosed
Payout ratioRate 19.1 % / Target fiscal year FY2025
Capital expenditures¥329 100 million (FY2025 actual), ¥35.2 billion (full-year forecast for FY2026)
New initiativesCollaboration or restructuring involving 20–30% of domestic manufacturing sites, End of Production at the Kobe Plant, Planned end of production at the Okoppe plant, Planned end of production at the Kawagoe plant
Items this document does not state (12)
Gross Profit MarginResults for the three months of the current quarterProgress against full-year forecastSelf-assessment against the planUnit price and quantity metricsAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookAnnual DividendAcquisition of treasury sharesOrders 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.

Although the year-on-year variance in selling prices contributed to higher operating profit for the fiscal year ended March 2026, the adverse effects of raw material costs, fixed expenses, sales volume and operating costs outweighed it. The increase in net income was attributable to extraordinary income rising from ¥1.7 billion in the previous fiscal year to ¥30.6 billion.

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Supplementary Explanatory Materials for the Financial Results for the Fiscal Year Ending March 2026 | MEGMILK SNOW BRAND Co.,Ltd. (2270) timely disclosure | Komori