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Earnings presentation2296ITOHAM YONEKYU HOLDINGS INC.Food

Fiscal 2025 Full-Year (April–March) Financial Results Presentation

In FY2025, revenue, operating income, ordinary income and net income all exceeded the previous year, resulting in higher revenue and earnings. The Processed Foods Business reported lower revenue and earnings, while the Meat Business delivered substantial revenue and earnings growth, driving overall performance.

Worth reading
79Important
0–100. This measures how worthwhile something is to read, not how good or bad the company is.
Direction
Improvement
Direction inferred from the company’s description.
Scale
96
¥100 million (year-on-year change in ordinary profit)
Wording
Conditional
How definitive the wording is.

Contents of this document

Earnings presentationFY2025 Full Year (April-March)14 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥10,714 100 million+8.4%
Operating profit¥285 100 million+45.4%
Ordinary income¥304 100 million+46.5%
Net income¥202 100 million+54.4%
Gross Profit Margin13.7 %
Operating profit margin2.7 %
Selling, general and administrative expenses¥1,180 100 million
Results for the three months of the current quarter
Q4 FY2025
Net Sales
¥10,714 100 million
Cost of sales
¥9,249 100 million
Gross profit
¥1,465 100 million
Operating profit
¥285 100 million
Ordinary income
¥304 100 million
Net income for the current fiscal year
¥202 100 million
Full-year earnings forecast
Fiscal Period CoveredFY2026 Full Year
Net Sales
¥10,400 100 million
Operating profit
¥270 100 million
Ordinary income
¥280 100 million
Net income for the current fiscal year
¥185 100 million
ROE
6.2 %
ROIC
5.4 %
Dividend per share
155 yen
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Company-wide ordinary income
Processed Food Operations¥-3 100 million
Meat business¥103 100 million
StandardYear on year
Processed Food Operations
Volume factor¥-26 100 million
Unit-price and expense factors¥70 100 million
Raw material and utility cost impact¥-28 100 million
Logistics unit-price impact¥-19 100 million
Non-Operating Income and Expenses¥-1 100 million
Other¥0 100 million
StandardYear on year
Meat business
Volume factor¥1 100 million
Unit-price and expense factors¥25 100 million
Market price and feed cost impact (production business)¥26 100 million
Logistics unit-price impact¥-4 100 million
Overseas business factors¥52 100 million
Non-Operating Income and Expenses¥4 100 million
Other¥0 100 million
StandardYear on year
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
  • ¥-90 100 million
    DetailsRaw material and utility cost increases
  • ¥-14 100 million
    DetailsLogistics unit-price impact
  • ¥-9 100 million
    DetailsMarket price and feed cost impact on the Meat Business
  • ¥-11 100 million
    DetailsReversal effect from the change in ANZCO's fiscal year-end
New initiatives
  • Price improvement
  • Product specification consolidation
  • Product portfolio renewal
  • Growth investment funded by earnings power
  • Targeting ordinary income of ¥50 billion in FY2035
Key KPIsA metric the company considers important as a management benchmark.
  • ROE7 %
    Year on year against the same period last year+2.4%
  • ROIC6.2 %
    Year on year against the same period last year+1.6%
  • EPS356.4 yen
  • Ham and sausage market share22.4 %
    Year-on-year change0.3
  • Wiener sausage market share20.4 %
    Year-on-year change0.2
  • Ham and bacon market share25.2 %
    Year-on-year change0.8
  • Chilled chicken, cooked market share21.5 %
    Year-on-year change-0.2
  • Chilled pizza and snack market share33.6 %
    Year-on-year change-0.2
Unit price and quantity metricsThese figures show sales broken down by price and volume.
  • Ham and sausage sales volume (weight)
  • Prepared and processed foods sales volume (weight)
  • Gift sales volume (weight)
  • Ham and sausage pricing impact¥38 100 million
  • Prepared and processed foods pricing impact¥26 100 million
Segment results
Processed Food Operations
Net Sales
¥3,986 100 million-0.6%
Operating profit
¥89 100 million-2.6%
Ordinary income
¥94 100 million-3.1%
Meat business
Net Sales
¥6,728 100 million+14.4%
Operating profit
¥214 100 million+75.9%
Ordinary income
¥226 100 million+84.3%
Medium-term management plan targets
Ordinary income
¥300 100 million
Target fiscal yearFiscal 2026
ROE
6.2 %
Target fiscal yearFiscal 2026
ROIC
5.9 %
Target fiscal yearFiscal 2026
FY2035 ordinary income target
¥500 100 million
Target fiscal yearFY2035
Comparison with actual resultsAchieved ordinary income of ¥30.4 billion, ROE of 7.0% and ROIC of 6.2% in FY2025, one year ahead of schedule
Financial targets
ROE
Actual results7 %
Target6.2 %
ROIC
Actual results6.2 %
Target5.9 %
Net debt-to-equity ratio
Actual results25.2 %
Equity ratio
Actual results56.2 %
Risk amount incorporated into the outlookThe amount representing the range of variation the company expects in its forecast.
Processed Food Operations
Raw material and utility cost impact¥-90 100 million
Logistics unit-price impact¥-14 100 million
Meat business
Market price and feed cost impact¥-9 100 million
Logistics unit-price impact¥-9 100 million
Market Size / Share
Market shareHam and sausage 22.4%, wiener sausage 20.4%, ham and bacon 25.2%, chilled chicken, cooked 21.5%, chilled pizza and snacks 33.6%
Annual Dividend
Annual dividend per share
FY2026 Forecast155 yen
Interim Dividend
75 yen
Year-end dividend
80 yen
FY2025 Results
320 yen
NotesIncludes a commemorative dividend of ¥175
Cost of sales
¥9,249 100 million
Non-Operating Income and Expenses
¥19 100 million
Equity ratio
56.2 %
Contents of this document
ItemDetails
Document typeEarnings presentation
Fiscal Period CoveredFY2025 Full Year (April-March)
Net Sales¥10,714 100 million (YoY +8.4%)
Operating profit¥285 100 million (YoY +45.4%)
Ordinary income¥304 100 million (YoY +46.5%)
Net income¥202 100 million (YoY +54.4%)
Gross Profit Margin13.7 %
Operating profit margin2.7 %
Selling, general and administrative expenses¥1,180 100 million
Results for the three months of the current quarterSubject Q4 FY2025 / Net Sales ¥10,714 100 million / Cost of sales ¥9,249 100 million / Gross profit ¥1,465 100 million / Operating profit ¥285 100 million / Ordinary income ¥304 100 million / Net income for the current fiscal year ¥202 100 million
Full-year earnings forecastFiscal Period Covered FY2026 Full Year / Net Sales ¥10,400 100 million / Operating profit ¥270 100 million / Ordinary income ¥280 100 million / Net income for the current fiscal year ¥185 100 million / ROE 6.2 % / ROIC 5.4 % / Dividend per share 155 yen
Segment resultsProcessed Food Operations Net Sales ¥3,986 100 million (YoY -0.6%) / Operating profit ¥89 100 million (YoY -2.6%) / Ordinary income ¥94 100 million (YoY -3.1%) / Meat business Net Sales ¥6,728 100 million (YoY +14.4%) / Operating profit ¥214 100 million (YoY +75.9%) / Ordinary income ¥226 100 million (YoY +84.3%)
Breakdown of Factors Affecting the ChangeCompany-wide ordinary income Processed Food Operations ¥-3 100 million / Meat business ¥103 100 million / Standard Year on year / Processed Food Operations Volume factor ¥-26 100 million / Unit-price and expense factors ¥70 100 million / Raw material and utility cost impact ¥-28 100 million / Logistics unit-price impact ¥-19 100 million / Non-Operating Income and Expenses ¥-1 100 million / Other ¥0 100 million / Standard Year on year / Meat business Volume factor ¥1 100 million / Unit-price and expense factors ¥25 100 million / Market price and feed cost impact (production business) ¥26 100 million / Logistics unit-price impact ¥-4 100 million / Overseas business factors ¥52 100 million / Non-Operating Income and Expenses ¥4 100 million / Other ¥0 100 million / Standard Year on year
Key KPIsROE 7 %, ROIC 6.2 %, EPS 356.4 yen, Ham and sausage market share 22.4 %, Wiener sausage market share 20.4 %, Ham and bacon market share 25.2 %, Chilled chicken, cooked market share 21.5 %, Chilled pizza and snack market share 33.6 %
Unit price and quantity metricsIndicator name Ham and sausage sales volume (weight) / yoy_pct -1.9, Indicator name Prepared and processed foods sales volume (weight) / yoy_pct -4, Indicator name Gift sales volume (weight) / yoy_pct -6.1, Ham and sausage pricing impact ¥38 100 million, Prepared and processed foods pricing impact ¥26 100 million
Assumptions Underlying the Business OutlookDetails Raw material and utility cost increases / Amount ¥-90 100 million, Details Logistics unit-price impact / Amount ¥-14 100 million, Details Market price and feed cost impact on the Meat Business / Amount ¥-9 100 million, Details Reversal effect from the change in ANZCO's fiscal year-end / Amount ¥-11 100 million
Risk amount incorporated into the outlookProcessed Food Operations Raw material and utility cost impact ¥-90 100 million / Logistics unit-price impact ¥-14 100 million / Meat business Market price and feed cost impact ¥-9 100 million / Logistics unit-price impact ¥-9 100 million
Medium-term management plan targetsOrdinary income ¥300 100 million / ROE 6.2 % / ROIC 5.9 % / FY2035 ordinary income target ¥500 100 million / Comparison with actual results Achieved ordinary income of ¥30.4 billion, ROE of 7.0% and ROIC of 6.2% in FY2025, one year ahead of schedule
Financial targetsROE Actual results 7 % / Target 6.2 % / ROIC Actual results 6.2 % / Target 5.9 % / Net debt-to-equity ratio Actual results 25.2 % / Equity ratio Actual results 56.2 %
Annual DividendAnnual dividend per share 155 yen / Interim Dividend 75 yen / Year-end dividend 80 yen / FY2025 Results 320 yen
Market Size / ShareMarket share Ham and sausage 22.4%, wiener sausage 20.4%, ham and bacon 25.2%, chilled chicken, cooked 21.5%, chilled pizza and snacks 33.6%
New initiativesPrice improvement, Product specification consolidation, Product portfolio renewal, Growth investment funded by earnings power, Targeting ordinary income of ¥50 billion in FY2035
Cost of sales¥9,249 100 million
Non-Operating Income and Expenses¥19 100 million
Equity ratio56.2 %
Items this document does not state (9)
Progress against full-year forecastSelf-assessment against the planNumber of stores and locationsNumber of employeesPayout ratioAcquisition of treasury sharesCapital expendituresOrders 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.

Across the company, earnings power improved as synergies from the management integration were realized. In the Processed Foods Business, despite advancing price revisions and product portfolio renewal, earnings declined due to lower sales volumes amid weak consumer demand and increases in raw material costs, utility expenses and logistics unit costs. The Meat Business reported higher earnings due to improved profitability in domestic production, higher Japanese chicken prices, increased profitability of imported chicken and the recovery of earnings in the ANZCO Business.

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Fiscal 2025 Full-Year (April–March) Financial Results Presentation | ITOHAM YONEKYU HOLDINGS INC. (2296) timely disclosure | Komori