Worth reading
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Mixed performance
Direction inferred from the company’s description.Scale
8113
¥ millionWording
Conditional
How definitive the wording is.Contents of this document
Financial results presentationFiscal year ending March 2026, full year11 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥52,651 million+18.0%
Operating profit¥5,326 million+12.0%
Net income¥3,461 million+2.0%
Operating profit margin10.1 %
Results for the three months of the current quarter
Production volume
19.5 Million cases
Net Sales
¥119 100 million
Operating profit
¥7 100 million
Operating profit margin
5.9 %
EBITDA
¥13.1 100 million
Full-year earnings forecast
Production volume
100 Million cases
Net Sales
¥720 100 million
Operating profit
¥65 100 million
Net income
¥42 100 million
EBITDA
¥100 100 million
Capital expenditures
¥125 100 million
Dividend per share
¥15
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Progress in line with planBreakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
- Increase in production and sales volumes¥3,019 million
- Changes in sales mix, in-house bottle production and other factors¥2,281 million
- Higher costs for raw-material tea leaves, increases in labor costs and expenses, and other factors¥-1,252 million
- Increases in logistics costs associated with higher sales and inventory, and other factors¥-2,772 million
- Increase in personnel costs and other factors¥-737 million
- M&A expenses and initial losses (GBK)¥45 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
- Production volume100 Million cases
- Impact of higher crude oil prices
New initiatives
- Entry into the vending machine business
- Establishment of LDアグリ株式会社 and commencement of operations at its crude tea plant and tea fields
- Acquisition and start of operations of 群馬ビバレッジ
- Start-up of a new line at Nビバレッジ
- Construction of Line 2 at the Gotemba Plant
- Construction of a new automated warehouse
Key KPIsA metric the company considers important as a management benchmark.
- Production volume83 Million casesYear on year against the same period last year+13.0%
- EBITDA¥75.32 100 millionYear on year against the same period last year+15.0%
- ROE22.6 %Year-on-year change (points)-3.9
- Number of vending machines in operation in the vending machine market200 10,000 units
- Vending machine market share of the overall soft drink market20 %
Medium-term management plan targets
Production volume
Target value125 Million cases
Target fiscal yearFiscal year ending March 2029
Growth Investment
Target value¥290 100 million
Target fiscal yearFiscal year ending March 2029
Risk amount incorporated into the outlookThe amount representing the range of variation the company expects in its forecast.
¥-9.2 100 million
DetailsHigher costs associated with rising crude oil prices
Market Size / Share
Number of vending machines in operation in the market2 million machines
Vending machine market share of the overall soft drink market20%
Number of employees
Number of Employees835 people
As ofEnd of March 2026
Number of temporary employees160 people
Capital expenditures
¥125 100 million
Annual Dividend
Annual¥15 per share
| Item | Details |
|---|---|
| Document type | Financial results presentation |
| Fiscal Period Covered | Fiscal year ending March 2026, full year |
| Net Sales | ¥52,651 million (YoY +18.0%) |
| Operating profit | ¥5,326 million (YoY +12.0%) |
| Net income | ¥3,461 million (YoY +2.0%) |
| Operating profit margin | 10.1 % |
| Results for the three months of the current quarter | Production volume 19.5 Million cases / Net Sales ¥119 100 million / Operating profit ¥7 100 million / Operating profit margin 5.9 % / EBITDA ¥13.1 100 million |
| Full-year earnings forecast | Production volume 100 Million cases / Net Sales ¥720 100 million / Operating profit ¥65 100 million / Net income ¥42 100 million / EBITDA ¥100 100 million / Capital expenditures ¥125 100 million / Dividend per share ¥15 |
| Self-assessment against the plan | Progress in line with plan |
| Breakdown of Factors Affecting the Change | Factors Increase in production and sales volumes / Amount ¥3,019 million, Factors Changes in sales mix, in-house bottle production and other factors / Amount ¥2,281 million, Factors Higher costs for raw-material tea leaves, increases in labor costs and expenses, and other factors / Amount ¥-1,252 million, Factors Increases in logistics costs associated with higher sales and inventory, and other factors / Amount ¥-2,772 million, Factors Increase in personnel costs and other factors / Amount ¥-737 million, Factors M&A expenses and initial losses (GBK) / Amount ¥45 million |
| Key KPIs | Indicator name Production volume / Value 83 Million cases / Year on year against the same period last year 13 Million cases, Indicator name EBITDA / Value ¥75.32 100 million / Year on year against the same period last year ¥15 100 million, Indicator name ROE / Value 22.6 % / Year-on-year change (points) -3.9 %, Indicator name Number of vending machines in operation in the vending machine market / Value 200 10,000 units / Year on year against the same period last year Not disclosed, Indicator name Vending machine market share of the overall soft drink market / Value 20 % / Year on year against the same period last year Not disclosed |
| Number of employees | Number of Employees 835 people / As of End of March 2026 / Number of temporary employees 160 people |
| Assumptions Underlying the Business Outlook | Item Production volume / Value 100 Million cases, Item Impact of higher crude oil prices / Value Not disclosed |
| Risk amount incorporated into the outlook | Details Higher costs associated with rising crude oil prices / Amount ¥-9.2 100 million |
| Medium-term management plan targets | Production volume Target value 125 Million cases / Target fiscal year Fiscal year ending March 2029 / Growth Investment Target value ¥290 100 million / Target fiscal year Fiscal year ending March 2029 |
| Annual Dividend | Annual ¥15 per share / Interim Not disclosed / End of period Not disclosed |
| Capital expenditures | ¥125 100 million |
| Market Size / Share | Number of vending machines in operation in the market 2 million machines / Vending machine market share of the overall soft drink market 20% |
| New initiatives | Entry into the vending machine business, Establishment of LDアグリ株式会社 and commencement of operations at its crude tea plant and tea fields, Acquisition and start of operations of 群馬ビバレッジ, Start-up of a new line at Nビバレッジ, Construction of Line 2 at the Gotemba Plant, Construction of a new automated warehouse |
Items this document does not state (12)
Ordinary incomeGross Profit MarginSelling, general and administrative expensesProgress against full-year forecastSegment resultsUnit price and quantity metricsNumber of stores and locationsFinancial targetsPayout ratioAcquisition of treasury sharesOrders 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.For the fiscal year ended March 2026, production volume increased due to contributions from Oビバレッジ and the Gotemba Plant, as well as Nビバレッジ reaching full production capacity. Revenue also increased as efforts to secure sales channels progressed. The company explained that increases in logistics, labor and personnel costs were offset by higher revenue, productivity improvements and cost reductions including in-house bottle production. For the fiscal year ending March 2027, the company expects the start-up of 3 new lines, improvements in logistics costs, cost reductions and profit contributions from the vending machine business.
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