Worth reading
65In focus
Scored from 3 of 6 sectionsDirection
Mixed performance
Direction inferred from the company’s description.Scale
-63.2
Year-on-year change in operating profit (%)Wording
Avoiding a definitive answer
How definitive the wording is.Contents of this document
Presentation materials on financial resultsFull fiscal year ended February 20269 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥4,796 million+6.9%
Operating profit¥35 million-63.2%
Ordinary income¥54 million-56.1%
Net income¥11 million-90.3%
Gross Profit Margin17.6%
Operating profit margin0.7%
Selling, general and administrative expenses¥809 million
Results for the three months of the current quarterQuarterly trends in revenue and operating income are presented, including a graph showing the standalone figures for the quarter
Full-year earnings forecast
Net Sales
¥6,000 million
Operating profit
¥126 million
Ordinary income
¥126 million
Net income for the current fiscal year
¥95 million
Dividend per share
¥18
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
New products, an exceptionally hot summer, operation of the Toyama Plant, raw material and energy costs, logistics expenses, personnel expenses, renovation and test operation costs for the Toyama Plant, and a ¥24 million adjustment to corporate income taxes and other taxes
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
The outlook reflects certain impacts on raw material prices and logistics expenses, including those arising from current market conditions and the situation in the Middle East. Numerical assumptions are not disclosedNew initiatives
- Add café au lait, yogurt and banana flavors to the “Marone” series
- Demand-generation promotion outside the summer season through “Momotaro × Sports”
- Capture OEM demand through year-round operation of the Toyama Plant
- Health and Productivity Management Organization 2026 certification
Key KPIsA metric the company considers important as a management benchmark.
- OEM ratio, including Morinaga Milk Industry61.1%Year on year against the same period last yearUp from 60.8% in the same period of the previous year
Segment results
Ice Cream Division
Net Sales¥3,534 million, up 10.4% year on year
Procurement and Sales Division
Net Sales¥676 million
Japanese Confectionery Division
Net Sales¥351 million
Logistics and Storage Division
Net Sales¥234 million
Market Size / Share
The domestic market for ice cream and frozen desserts was ¥645.1 billion in fiscal 2024. Market share is not disclosedNumber of stores and locations
The Toyama Plant opened in November 2025. The number of other stores and locations, and the number of openings and closures during the period, are not disclosedAnnual Dividend
¥18 per share
Payout ratio
Not disclosed. The basic policy is to maintain stable dividends, and a shareholder return policy using a benchmark is under consideration| Item | Details |
|---|---|
| Document type | Presentation materials on financial results |
| Fiscal Period Covered | Full fiscal year ended February 2026 |
| Net Sales | ¥4,796 million (YoY +6.9%) |
| Operating profit | ¥35 million (YoY -63.2%) |
| Ordinary income | ¥54 million (YoY -56.1%) |
| Net income | ¥11 million (YoY -90.3%) |
| Gross Profit Margin | 17.6% |
| Operating profit margin | 0.7% |
| Selling, general and administrative expenses | ¥809 million |
| Results for the three months of the current quarter | Quarterly trends in revenue and operating income are presented, including a graph showing the standalone figures for the quarter |
| Full-year earnings forecast | Net Sales ¥6,000 million / Operating profit ¥126 million / Ordinary income ¥126 million / Net income for the current fiscal year ¥95 million / Dividend per share ¥18 |
| Segment results | Ice Cream Division Net Sales ¥3,534 million, up 10.4% year on year / Profit Not disclosed / Procurement and Sales Division Net Sales ¥676 million / Profit Not disclosed / Japanese Confectionery Division Net Sales ¥351 million / Profit Not disclosed / Logistics and Storage Division Net Sales ¥234 million / Profit Not disclosed |
| Breakdown of Factors Affecting the Change | New products, an exceptionally hot summer, operation of the Toyama Plant, raw material and energy costs, logistics expenses, personnel expenses, renovation and test operation costs for the Toyama Plant, and a ¥24 million adjustment to corporate income taxes and other taxes |
| Key KPIs | Indicator name OEM ratio, including Morinaga Milk Industry / Value 61.1% / Year on year against the same period last year Up from 60.8% in the same period of the previous year |
| Number of stores and locations | The Toyama Plant opened in November 2025. The number of other stores and locations, and the number of openings and closures during the period, are not disclosed |
| Assumptions Underlying the Business Outlook | The outlook reflects certain impacts on raw material prices and logistics expenses, including those arising from current market conditions and the situation in the Middle East. Numerical assumptions are not disclosed |
| Annual Dividend | ¥18 per share |
| Payout ratio | Not disclosed. The basic policy is to maintain stable dividends, and a shareholder return policy using a benchmark is under consideration |
| Market Size / Share | The domestic market for ice cream and frozen desserts was ¥645.1 billion in fiscal 2024. Market share is not disclosed |
| New initiatives | Add café au lait, yogurt and banana flavors to the “Marone” series, Demand-generation promotion outside the summer season through “Momotaro × Sports”, Capture OEM demand through year-round operation of the Toyama Plant, Health and Productivity Management Organization 2026 certification |
Items this document does not state (11)
Progress against full-year forecastSelf-assessment against the planUnit price and quantity metricsNumber of employeesRisk amount incorporated into the outlookMedium-term management plan targetsFinancial targetsAcquisition 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.Revenue benefited from new products in the ice cream segment, an exceptionally hot summer and the full-scale operation of the Toyama Plant. Profit was pressured by persistently high raw material and energy costs, increases in logistics and personnel expenses, one-time costs associated with renovations and test operations at the Toyama Plant, and a ¥24 million adjustment to corporate income taxes and other taxes related to asset retirement obligations.
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.