Worth reading
81Important
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
243
¥100 million (year-on-year change in revenue for the fiscal year ended March 2026)Wording
Conditional
How definitive the wording is.Contents of this document
Presentation materials on financial resultsFull fiscal year ended March 2026 (including the full-year forecast for the fiscal year ending March 2027 and progress under the three-year medium-term management plan)14 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales5,366 Hundred millions of yen+4.8%
Operating profit858 Hundred millions of yen+12.1%
Ordinary income941 Hundred millions of yen+10.4%
Net income¥702 100 million +9.9%net income attributable to owners of the parent
Operating profit margin16.0%, up 1.1 percentage points year on year
Selling, general and administrative expensesAmounts are provided as factors affecting the change (¥2.0 billion negative impact on a consolidated full-year basis). Total SG&A expenses and the SG&A expense-to-sales ratio are not disclosed
Results for the three months of the current quarterStandalone quarterly revenue and operating profit for Q1 through Q4 are provided for the domestic instant noodle, chilled food and overseas instant noodle businesses. Standalone quarterly figures for the consolidated total are not disclosed
Full-year earnings forecast
Net Sales
5,600 Hundred millions of yen
Operating profit
820 Hundred millions of yen
Ordinary income
885 Hundred millions of yen
Profit attributable to owners of the parent
656 Hundred millions of yen
Capital expenditures
282 Hundred millions of yen
Depreciation and amortization
211 Hundred millions of yen
FCF
585 Hundred millions of yen
EBITDA
1,031 Hundred millions of yen
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Actual results for the fiscal year ended March 2026 exceeded the published plan (revenue 100.3%, operating profit 107.2%, ordinary profit 107.5%, net income attributable to owners of the parent 106.3%)Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Consolidated revenue for the fiscal year ended March 2026Segment-by-segment changes driven by higher volumes, the effect of price revisions and other factors (the main increases were overseas instant noodles, up ¥14.2 billion; Other, up ¥2.5 billion; and seafood products, up ¥2.4 billion)
Consolidated operating profit for the fiscal year ended March 2026Impact of higher revenue: +¥24.0 billion; raw materials: -¥7.5 billion; manufacturing expenses: -¥4.0 billion; SG&A expenses: -¥2.0 billion; other: -¥0.4 billion; and other factors
Forecast consolidated operating profit for the fiscal year ending March 2027Impact of higher revenue: +¥17.7 billion; raw materials: -¥12.7 billion; manufacturing expenses: -¥8.8 billion; SG&A expenses: +¥0.2 billion; other: -¥0.3 billion; and other factors
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
U.S. dollar exchange rate¥150.00 per US dollar (forecast for the fiscal year ending March 2027)
Mexico exchange rate17–20 pesos per US dollar
Cost impact of the situation in the Middle EastApproximately ¥8.0–10.0 billion in higher costs for packaging materials, utilities and logistics, among other items. This has not been reflected in the full-year forecast
New initiatives
- Price revisions for domestic instant noodles and instant wontons from deliveries made in July 2026 (including a 4–11% increase in suggested retail prices)
- Strengthen the full-lineup offering of premium-, mid- and value-priced products in the domestic instant noodle business
- Strengthen consumer and mass-retailer promotions and marketing in the US, and launch new products
- Strengthen packaged noodles in Mexico and target a 20% packaged noodle mix by fiscal 2030
- Cross-category consumer campaigns and cross-category promotions for the yakisoba category
- Add a fresh ramen production line at the new chilled noodle plant
- Investments including expansion of the California plant, construction of a new plant in Mexico and expansion of the freeze-dried food plant
Key KPIsA metric the company considers important as a management benchmark.
- Domestic instant noodle sales volume, total instant noodles101.4% of the previous fiscal yearYear on year against the same period last year+1.4％
- Domestic instant noodle market share, total instant noodles20.5％Year on year against the same period last year+0.1 percentage points year on year
- Domestic instant noodle market share, cup noodles23.3％Year on year against the same period last year±0.0 percentage points
- Domestic instant noodle market share, packaged noodles14.8％Year on year against the same period last year+0.3 percentage points
- Overseas instant noodle operating margin25.6％Year on year against the same period last year+1.9 percentage points
- Mexico packaged noodle mix14％
Unit price and quantity metricsThese figures show sales broken down by price and volume.
Changes in operating profit attributable to sales volume and unit prices are provided for the domestic instant noodle, chilled food and overseas instant noodle businesses. Domestic instant noodle sales volume and overseas business sales volume are also providedSegment results
Seafood products business
Net Sales¥32.7 billion, up ¥2.4 billion year on year
Operating profit¥1.5 billion, up ¥0.6 billion year on year
Overseas instant noodle business
Net Sales¥248.2 billion, up ¥14.2 billion year on year (US$1,646 million, up US$113 million)
Operating profit¥63.6 billion, up ¥8.1 billion year on year (US$422 million, up US$58 million)
Domestic instant noodle business
Net Sales¥104.4 billion, up ¥1.4 billion year on year
Operating profit¥10.5 billion, up ¥0.7 billion year on year
Chilled foods business
Net Sales¥61.5 billion, up ¥1.7 billion year on year
Operating profit¥8.1 billion, up ¥0.1 billion year on year
Processed Food Operations
Net Sales¥23.4 billion, up ¥1.2 billion year on year
Operating profitNegative ¥0.4 billion, a decrease of ¥0.4 billion year on year
Refrigerated Warehousing Operations
Net Sales¥26.3 billion, up ¥0.9 billion year on year
Operating profit¥2.8 billion, up ¥0.5 billion year on year
Other businesses
Net Sales¥40.1 billion, up ¥2.5 billion year on year
Operating profit¥0.9 billion, up ¥0.1 billion year on year
Medium-term management plan targets
Revenue for the fiscal year ending March 2028¥600.0 billion
Operating profit for the fiscal year ending March 2028¥82.0 billion
Net income attributable to owners of the parent for the fiscal year ending March 2028¥67.5 billion
ROE for the fiscal year ending March 2028At least 10%
Long-term ROE targetApproximately 15%
Financial targets
ROE13.9% actual for the fiscal year ended March 2026, at least 10% target for the fiscal year ending March 2028, and approximately 15% long-term target
Market Size / Share
Total demand was 5.15 billion servings in the US instant noodle market, 1.61 billion servings in the Mexican market and 3.3 billion servings in the Latin American market. Domestic instant noodle market share was 20.5% overall, 23.3% for cup noodles and 14.8% for packaged noodles. Maruchan's share of Mexico's packaged noodle market was 14.0% (mix at the end of the fiscal year ended March 2026)Capital expenditures
¥463 100 million actual cash payments for the fiscal year ended March 2026
Annual Dividend
¥220 per share (the interim and year-end breakdown is not disclosed)Payout ratio
31.6% actual for the fiscal year ended March 2026. The medium-term management plan targets a payout ratio of more than 30% and a total payout ratio of 70%Acquisition of treasury shares
The medium-term management plan states a policy of conducting share buybacks. The amount, number of shares and period for the buybacks are not disclosed| Item | Details |
|---|---|
| Document type | Presentation materials on financial results |
| Fiscal Period Covered | Full fiscal year ended March 2026 (including the full-year forecast for the fiscal year ending March 2027 and progress under the three-year medium-term management plan) |
| Net Sales | 5,366 Hundred millions of yen (YoY +4.8%) |
| Operating profit | 858 Hundred millions of yen (YoY +12.1%) |
| Ordinary income | 941 Hundred millions of yen (YoY +10.4%) |
| Net income | ¥702 100 million (net income attributable to owners of the parent) (YoY +9.9%) |
| Operating profit margin | 16.0%, up 1.1 percentage points year on year |
| Selling, general and administrative expenses | Amounts are provided as factors affecting the change (¥2.0 billion negative impact on a consolidated full-year basis). Total SG&A expenses and the SG&A expense-to-sales ratio are not disclosed |
| Results for the three months of the current quarter | Standalone quarterly revenue and operating profit for Q1 through Q4 are provided for the domestic instant noodle, chilled food and overseas instant noodle businesses. Standalone quarterly figures for the consolidated total are not disclosed |
| Full-year earnings forecast | Net Sales 5,600 Hundred millions of yen / Operating profit 820 Hundred millions of yen / Ordinary income 885 Hundred millions of yen / Profit attributable to owners of the parent 656 Hundred millions of yen / Capital expenditures 282 Hundred millions of yen / Depreciation and amortization 211 Hundred millions of yen / FCF 585 Hundred millions of yen / EBITDA 1,031 Hundred millions of yen |
| Self-assessment against the plan | Actual results for the fiscal year ended March 2026 exceeded the published plan (revenue 100.3%, operating profit 107.2%, ordinary profit 107.5%, net income attributable to owners of the parent 106.3%) |
| Segment results | Seafood products business Net Sales ¥32.7 billion, up ¥2.4 billion year on year / Operating profit ¥1.5 billion, up ¥0.6 billion year on year / Overseas instant noodle business Net Sales ¥248.2 billion, up ¥14.2 billion year on year (US$1,646 million, up US$113 million) / Operating profit ¥63.6 billion, up ¥8.1 billion year on year (US$422 million, up US$58 million) / Domestic instant noodle business Net Sales ¥104.4 billion, up ¥1.4 billion year on year / Operating profit ¥10.5 billion, up ¥0.7 billion year on year / Chilled foods business Net Sales ¥61.5 billion, up ¥1.7 billion year on year / Operating profit ¥8.1 billion, up ¥0.1 billion year on year / Processed Food Operations Net Sales ¥23.4 billion, up ¥1.2 billion year on year / Operating profit Negative ¥0.4 billion, a decrease of ¥0.4 billion year on year / Refrigerated Warehousing Operations Net Sales ¥26.3 billion, up ¥0.9 billion year on year / Operating profit ¥2.8 billion, up ¥0.5 billion year on year / Other businesses Net Sales ¥40.1 billion, up ¥2.5 billion year on year / Operating profit ¥0.9 billion, up ¥0.1 billion year on year |
| Breakdown of Factors Affecting the Change | Consolidated revenue for the fiscal year ended March 2026 Segment-by-segment changes driven by higher volumes, the effect of price revisions and other factors (the main increases were overseas instant noodles, up ¥14.2 billion; Other, up ¥2.5 billion; and seafood products, up ¥2.4 billion) / Consolidated operating profit for the fiscal year ended March 2026 Impact of higher revenue: +¥24.0 billion; raw materials: -¥7.5 billion; manufacturing expenses: -¥4.0 billion; SG&A expenses: -¥2.0 billion; other: -¥0.4 billion; and other factors / Forecast consolidated operating profit for the fiscal year ending March 2027 Impact of higher revenue: +¥17.7 billion; raw materials: -¥12.7 billion; manufacturing expenses: -¥8.8 billion; SG&A expenses: +¥0.2 billion; other: -¥0.3 billion; and other factors |
| Key KPIs | Indicator name Domestic instant noodle sales volume, total instant noodles / Value 101.4% of the previous fiscal year / Year on year against the same period last year +1.4％, Indicator name Domestic instant noodle market share, total instant noodles / Value 20.5％ / Year on year against the same period last year +0.1 percentage points year on year, Indicator name Domestic instant noodle market share, cup noodles / Value 23.3％ / Year on year against the same period last year ±0.0 percentage points, Indicator name Domestic instant noodle market share, packaged noodles / Value 14.8％ / Year on year against the same period last year +0.3 percentage points, Indicator name Overseas instant noodle operating margin / Value 25.6％ / Year on year against the same period last year +1.9 percentage points, Indicator name Mexico packaged noodle mix / Value 14％ / Year on year against the same period last year Not disclosed |
| Unit price and quantity metrics | Changes in operating profit attributable to sales volume and unit prices are provided for the domestic instant noodle, chilled food and overseas instant noodle businesses. Domestic instant noodle sales volume and overseas business sales volume are also provided |
| Assumptions Underlying the Business Outlook | U.S. dollar exchange rate ¥150.00 per US dollar (forecast for the fiscal year ending March 2027) / Mexico exchange rate 17–20 pesos per US dollar / Cost impact of the situation in the Middle East Approximately ¥8.0–10.0 billion in higher costs for packaging materials, utilities and logistics, among other items. This has not been reflected in the full-year forecast |
| Medium-term management plan targets | Revenue for the fiscal year ending March 2028 ¥600.0 billion / Operating profit for the fiscal year ending March 2028 ¥82.0 billion / Net income attributable to owners of the parent for the fiscal year ending March 2028 ¥67.5 billion / ROE for the fiscal year ending March 2028 At least 10% / Long-term ROE target Approximately 15% |
| Financial targets | ROE 13.9% actual for the fiscal year ended March 2026, at least 10% target for the fiscal year ending March 2028, and approximately 15% long-term target |
| Annual Dividend | ¥220 per share (the interim and year-end breakdown is not disclosed) |
| Payout ratio | 31.6% actual for the fiscal year ended March 2026. The medium-term management plan targets a payout ratio of more than 30% and a total payout ratio of 70% |
| Acquisition of treasury shares | The medium-term management plan states a policy of conducting share buybacks. The amount, number of shares and period for the buybacks are not disclosed |
| Capital expenditures | ¥463 100 million (actual cash payments for the fiscal year ended March 2026) |
| Market Size / Share | Total demand was 5.15 billion servings in the US instant noodle market, 1.61 billion servings in the Mexican market and 3.3 billion servings in the Latin American market. Domestic instant noodle market share was 20.5% overall, 23.3% for cup noodles and 14.8% for packaged noodles. Maruchan's share of Mexico's packaged noodle market was 14.0% (mix at the end of the fiscal year ended March 2026) |
| New initiatives | Price revisions for domestic instant noodles and instant wontons from deliveries made in July 2026 (including a 4–11% increase in suggested retail prices), Strengthen the full-lineup offering of premium-, mid- and value-priced products in the domestic instant noodle business, Strengthen consumer and mass-retailer promotions and marketing in the US, and launch new products, Strengthen packaged noodles in Mexico and target a 20% packaged noodle mix by fiscal 2030, Cross-category consumer campaigns and cross-category promotions for the yakisoba category, Add a fresh ramen production line at the new chilled noodle plant, Investments including expansion of the California plant, construction of a new plant in Mexico and expansion of the freeze-dried food plant |
Items this document does not state (7)
Gross Profit MarginProgress against full-year forecastNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookOrders 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, higher volumes, the effect of price revisions and the impact of higher revenue resulted in increases in both revenue and profit. For the fiscal year ending March 2027, revenue is expected to increase due to a recovery in sales in the overseas instant noodle business and price revisions, while operating profit is expected to decline because of higher raw material prices in Japan and overseas and increased depreciation expenses associated with the start-up of new plants. The impact of higher costs for packaging materials, utilities and logistics due to the situation in the Middle East has not been reflected in the full-year forecast at this time.
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