Materials for the briefing on financial results for the second quarter (interim period) of the fiscal year ending March 2027 | TOYO SUISAN KAISHA,LTD. (2875) timely disclosure

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Mixed performance

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Scale

180

¥100 million (year-on-year change in interim-period revenue)

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Conditional

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Contents of this document

Financial results presentationSecond quarter (interim period) of the fiscal year ending March 202713 items taken from the company’s own explanation

Financial Results Figures (The key points of this material are explained below)

Net Sales¥2,741 billion+107.0%

Operating profit¥458 billion+115.2%

Ordinary income¥503 billion+114.9%

Net income¥372 100 million +111.5%interim net income attributable to owners of the parent

Operating profit margin16.7 %

Results for the three months of the current quarterRevenue and operating income for the standalone second quarter are shown by segment: domestic instant noodles, revenue of ¥22.7 billion and operating income of ¥1.4 billion; chilled foods, revenue of ¥16.4 billion and operating income of ¥1.5 billion; overseas instant noodles, revenue of ¥68.5 billion and operating income of ¥18.8 billion.

Full-year earnings forecast

Net Sales

¥5,600 billion

Operating profit

¥820 billion

Ordinary income

¥885 billion

Profit attributable to owners of the parent

¥656 billion

Dividend per share

¥220

Capital expenditures

¥282 billion

Depreciation and amortization

¥207 billion

FCF

¥581 billion

EBITDA

¥1,027 billion

What the company explained in this material

Self-assessment against the planThe company's self-assessment against its own plan.

The company aims to achieve its plan through various measures. The overseas instant noodle business was $16 million above the initial plan in the first half, while the revised forecast for the second half is $23 million below the initial plan.

Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.

Interim consolidated operating profitRevenue impact +¥8.5 billion, foreign exchange impact +¥3.0 billion, and other factors negative ¥2.4 billion, negative ¥2.2 billion, negative ¥900 million and ±¥0, among others. Increased from ¥39.8 billion to ¥45.8 billion.

Full-year consolidated operating profitRevenue impact +¥14.2 billion, increase factors including foreign exchange +¥3.2 billion and +¥200 million, and decrease factors of negative ¥13.5 billion, negative ¥6.0 billion and negative ¥1.9 billion, among others. Decreased from ¥85.8 billion to ¥82.0 billion.

Domestic instant noodles operating profitVolume +¥300 million, unit price +¥700 million, raw materials negative ¥1.3 billion, manufacturing expenses +¥300 million, and selling, general and administrative expenses +¥100 million.

Chilled foods operating profitVolume negative ¥100 million, unit price +¥100 million, raw materials negative ¥300 million, manufacturing expenses negative ¥1.1 billion, and selling, general and administrative expenses negative ¥200 million.

Overseas instant noodles operating profitRevenue +$43 million, raw materials negative $4 million, manufacturing expenses negative $8 million, and selling, general and administrative expenses negative $5 million.

Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.

Exchange rate¥159.00 per $1
SubjectFiscal year ending March 2027, forecast
Higher costs resulting from the situation in the Middle East and other factorsApproximately ¥9.4 billion for the full year, including approximately ¥7.0–8.0 billion in the second half
DetailsRaw materials, packaging materials, fuel, logistics and other costs
Food consumption tax reductionAssumed for April 2027
DetailsAssumes the possibility of restrained purchases before the tax reduction and increased demand for eating at home after the tax reduction

New initiatives

Launch of a 15th-anniversary product for a leading domestic instant noodle brand and stronger promotional activities
New television commercials, digital initiatives and consumer campaigns for domestic instant noodles
Price revisions for chilled foods and campaigns for leading products
Stronger promotional placements, in-store visibility and digital initiatives in the U.S.
Expansion of the California plant in the U.S. and phased increases in production capacity
Rollout of the new "Fire" series in Mexico and the U.S.

Key KPIsA metric the company considers important as a management benchmark.

Domestic instant noodle sales volumeOur company +2.8%
Year on year against the same period last year+2.8%
Instant noodle market sales volume△1.4%
Year on year against the same period last year△1.4%
Our cup noodle sales volume+1.5%
Year on year against the same period last year+1.5%
Our bagged noodle sales volume+1.0%
Year on year against the same period last year+1.0%
U.S. instant noodle market size$24.6 100 million
U.S. instant noodle market CAGR12.2 % 2016–2025
Our share of the Mexican bagged noodle market18.8 %

Unit price and quantity metricsThese figures show sales broken down by price and volume.

The factors driving changes in operating income by volume and unit price are shown for domestic instant noodles, chilled foods and overseas instant noodles.

Segment results

Seafood products business
Net Sales153
Revenue unit¥ billion
Year-on-year change in revenueYear-on-year change: negative ¥500 million
Operating profit9
Operating profit unit¥ billion
Year-on-year operating profitYear-on-year change: ±¥0
Overseas instant noodle business
Net Sales1,329
Revenue unit¥ billion
Year-on-year change in revenueYear-on-year change: +¥17.1 billion
Operating profit357
Operating profit unit¥ billion
Year-on-year operating profitYear-on-year change: +¥6.8 billion
Domestic instant noodle business
Net Sales479
Revenue unit¥ billion
Year-on-year change in revenueYear-on-year change: +¥1.6 billion
Operating profit38
Operating profit unit¥ billion
Year-on-year operating profitYear-on-year change: +¥100 million
Chilled foods business
Net Sales322
Revenue unit¥ billion
Year-on-year change in revenueYear-on-year change: negative ¥300 million
Operating profit32
Operating profit unit¥ billion
Year-on-year operating profitYear-on-year change: negative ¥1.6 billion
Processed Food Operations
Net Sales106
Revenue unit¥ billion
Year-on-year change in revenueYear-on-year change: negative ¥200 million
Operating profit0
Operating profit unit¥ billion
Year-on-year operating profitYear-on-year change: +¥500 million
Refrigerated Warehousing Operations
Net Sales141
Revenue unit¥ billion
Year-on-year change in revenueYear-on-year change: +¥600 million
Operating profit19
Operating profit unit¥ billion
Year-on-year operating profitYear-on-year change: +¥300 million
Other Businesses
Net Sales211
Revenue unit¥ billion
Year-on-year change in revenueYear-on-year change: negative ¥300 million
Operating profit8
Operating profit unit¥ billion
Year-on-year operating profitYear-on-year change: negative ¥100 million

Medium-term management plan targets

Target fiscal yearFiscal year ending March 2028

Net Sales¥6,000 billion

Operating profit¥820 billion

Profit attributable to owners of the parent¥675 billion

EBITDA¥1,050 billion

ROE target10% or higher

Financial targets

ROE

Actual results for the fiscal year ending March 202613.9 %

ROE target

Fiscal year ending March 202810 % or higher

Long-term ROE target15

Risk amount incorporated into the outlookThe amount representing the range of variation the company expects in its forecast.

Full-year cost increases of approximately ¥9.4 billion, including the impact of the situation in the Middle East. Breakdown: approximately ¥3.4 billion for domestic instant noodles, ¥1.4 billion for chilled foods, ¥1.6 billion for other domestic businesses, and ¥3.0 billion for overseas instant noodles.

Market Size / Share

U.S. food category$87.1 100 million
U.S. instant noodle market$24.6 100 million 2025
Mexican bagged noodle market
Company share18.8

Capital expenditures

¥282 100 million cash outlay basis, forecast for the fiscal year ending March 2027

Annual Dividend

Annual¥220 per share

Contents of this document
Item	Details
Document type	Financial results presentation
Fiscal Period Covered	Second quarter (interim period) of the fiscal year ending March 2027
Net Sales	¥2,741 billion (YoY +107.0%)
Operating profit	¥458 billion (YoY +115.2%)
Ordinary income	¥503 billion (YoY +114.9%)
Net income	¥372 100 million (interim net income attributable to owners of the parent) (YoY +111.5%)
Operating profit margin	16.7 %
Results for the three months of the current quarter	Revenue and operating income for the standalone second quarter are shown by segment: domestic instant noodles, revenue of ¥22.7 billion and operating income of ¥1.4 billion; chilled foods, revenue of ¥16.4 billion and operating income of ¥1.5 billion; overseas instant noodles, revenue of ¥68.5 billion and operating income of ¥18.8 billion.
Full-year earnings forecast	Net Sales ¥5,600 billion / Operating profit ¥820 billion / Ordinary income ¥885 billion / Profit attributable to owners of the parent ¥656 billion / Dividend per share ¥220 / Capital expenditures ¥282 billion / Depreciation and amortization ¥207 billion / FCF ¥581 billion / EBITDA ¥1,027 billion
Self-assessment against the plan	The company aims to achieve its plan through various measures. The overseas instant noodle business was $16 million above the initial plan in the first half, while the revised forecast for the second half is $23 million below the initial plan.
Segment results	Segment Seafood products business / Net Sales 153 / Revenue unit ¥ billion / Year-on-year change in revenue Year-on-year change: negative ¥500 million / Operating profit 9 / Operating profit unit ¥ billion / Year-on-year operating profit Year-on-year change: ±¥0, Segment Overseas instant noodle business / Net Sales 1,329 / Revenue unit ¥ billion / Year-on-year change in revenue Year-on-year change: +¥17.1 billion / Operating profit 357 / Operating profit unit ¥ billion / Year-on-year operating profit Year-on-year change: +¥6.8 billion, Segment Domestic instant noodle business / Net Sales 479 / Revenue unit ¥ billion / Year-on-year change in revenue Year-on-year change: +¥1.6 billion / Operating profit 38 / Operating profit unit ¥ billion / Year-on-year operating profit Year-on-year change: +¥100 million, Segment Chilled foods business / Net Sales 322 / Revenue unit ¥ billion / Year-on-year change in revenue Year-on-year change: negative ¥300 million / Operating profit 32 / Operating profit unit ¥ billion / Year-on-year operating profit Year-on-year change: negative ¥1.6 billion, Segment Processed Food Operations / Net Sales 106 / Revenue unit ¥ billion / Year-on-year change in revenue Year-on-year change: negative ¥200 million / Operating profit 0 / Operating profit unit ¥ billion / Year-on-year operating profit Year-on-year change: +¥500 million, Segment Refrigerated Warehousing Operations / Net Sales 141 / Revenue unit ¥ billion / Year-on-year change in revenue Year-on-year change: +¥600 million / Operating profit 19 / Operating profit unit ¥ billion / Year-on-year operating profit Year-on-year change: +¥300 million, Segment Other Businesses / Net Sales 211 / Revenue unit ¥ billion / Year-on-year change in revenue Year-on-year change: negative ¥300 million / Operating profit 8 / Operating profit unit ¥ billion / Year-on-year operating profit Year-on-year change: negative ¥100 million
Breakdown of Factors Affecting the Change	Interim consolidated operating profit Revenue impact +¥8.5 billion, foreign exchange impact +¥3.0 billion, and other factors negative ¥2.4 billion, negative ¥2.2 billion, negative ¥900 million and ±¥0, among others. Increased from ¥39.8 billion to ¥45.8 billion. / Full-year consolidated operating profit Revenue impact +¥14.2 billion, increase factors including foreign exchange +¥3.2 billion and +¥200 million, and decrease factors of negative ¥13.5 billion, negative ¥6.0 billion and negative ¥1.9 billion, among others. Decreased from ¥85.8 billion to ¥82.0 billion. / Domestic instant noodles operating profit Volume +¥300 million, unit price +¥700 million, raw materials negative ¥1.3 billion, manufacturing expenses +¥300 million, and selling, general and administrative expenses +¥100 million. / Chilled foods operating profit Volume negative ¥100 million, unit price +¥100 million, raw materials negative ¥300 million, manufacturing expenses negative ¥1.1 billion, and selling, general and administrative expenses negative ¥200 million. / Overseas instant noodles operating profit Revenue +$43 million, raw materials negative $4 million, manufacturing expenses negative $8 million, and selling, general and administrative expenses negative $5 million.
Key KPIs	Indicator Domestic instant noodle sales volume / Value Our company +2.8% / Year on year against the same period last year +2.8%, Indicator Instant noodle market sales volume / Value △1.4% / Year on year against the same period last year △1.4%, Indicator Our cup noodle sales volume / Value +1.5% / Year on year against the same period last year +1.5%, Indicator Our bagged noodle sales volume / Value +1.0% / Year on year against the same period last year +1.0%, Indicator U.S. instant noodle market size / Value $24.6 100 million / Year on year against the same period last year Not disclosed, Indicator U.S. instant noodle market CAGR / Value 12.2 % (2016–2025) / Year on year against the same period last year Not disclosed, Indicator Our share of the Mexican bagged noodle market / Value 18.8 % / Year on year against the same period last year Not disclosed
Unit price and quantity metrics	The factors driving changes in operating income by volume and unit price are shown for domestic instant noodles, chilled foods and overseas instant noodles.
Assumptions Underlying the Business Outlook	Item Exchange rate / Value ¥159.00 per $1 / Subject Fiscal year ending March 2027, forecast, Item Higher costs resulting from the situation in the Middle East and other factors / Value Approximately ¥9.4 billion for the full year, including approximately ¥7.0–8.0 billion in the second half / Details Raw materials, packaging materials, fuel, logistics and other costs, Item Food consumption tax reduction / Value Assumed for April 2027 / Details Assumes the possibility of restrained purchases before the tax reduction and increased demand for eating at home after the tax reduction
Risk amount incorporated into the outlook	Full-year cost increases of approximately ¥9.4 billion, including the impact of the situation in the Middle East. Breakdown: approximately ¥3.4 billion for domestic instant noodles, ¥1.4 billion for chilled foods, ¥1.6 billion for other domestic businesses, and ¥3.0 billion for overseas instant noodles.
Medium-term management plan targets	Target fiscal year Fiscal year ending March 2028 / Net Sales ¥6,000 billion / Operating profit ¥820 billion / Profit attributable to owners of the parent ¥675 billion / EBITDA ¥1,050 billion / ROE target 10% or higher
Financial targets	ROE Actual results for the fiscal year ending March 2026 13.9 % / ROE target Fiscal year ending March 2028 10 % or higher / Long-term ROE target 15
Annual Dividend	Annual ¥220 per share / Interim Not disclosed / End of period Not disclosed
Capital expenditures	¥282 100 million (cash outlay basis, forecast for the fiscal year ending March 2027)
Market Size / Share	Market U.S. food category / Market Size $87.1 100 million, Market U.S. instant noodle market / Market Size $24.6 100 million (2025), Market Mexican bagged noodle market / Company share 18.8 % (volume)
New initiatives	Launch of a 15th-anniversary product for a leading domestic instant noodle brand and stronger promotional activities, New television commercials, digital initiatives and consumer campaigns for domestic instant noodles, Price revisions for chilled foods and campaigns for leading products, Stronger promotional placements, in-store visibility and digital initiatives in the U.S., Expansion of the California plant in the U.S. and phased increases in production capacity, Rollout of the new "Fire" series in Mexico and the U.S.

Items this document does not state (9)

Gross Profit MarginSelling, general and administrative expensesProgress against full-year forecastNumber of stores and locationsNumber of employeesPayout 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.

During the interim period, revenue increased due in part to the effects of price revisions in the domestic and overseas businesses, while the effects of price revisions absorbed higher costs. For the full year, the forecast incorporates higher costs for raw materials, fuel and logistics resulting from the situation in the Middle East, changes to exchange-rate assumptions, and higher fixed costs associated with the start-up of the California plant.

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