Worth reading
67In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Deterioration
Direction inferred from the company’s description.Scale
62.3
Operating profit year-on-year (% decrease)Wording
Conditional
How definitive the wording is.Contents of this document
Presentation materials for financial resultsFiscal 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¥57,484 million-1.1%
Operating profit¥1,568 million-62.3%
Ordinary income¥1,692 million-60.2%
Net income¥918 million-39.7%
Full-year earnings forecast
Net Sales
¥57,500 million
Operating profit
¥2,000 million
Ordinary income
¥1,700 million
Profit attributable to owners of the parent
¥1,400 million
EBITDA
¥4,500 million
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
- Domestic non-scallop-related business+¥180 million
- Domestic scallop-related business-¥2.46 billion
- Inventory write-downs-¥480 million
- Overseas Business-¥310 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
- The scallop business is projected conservatively because market conditions are difficult to predict
- The ordinary profit forecast does not factor in foreign exchange gains or losses
New initiatives
- Construction of a new plant by まるかわ食品. Planned investment of ¥300 million–¥400 million, scheduled to begin operations in December 2027, with production capacity expected to increase approximately 2.3 times
- Enhancement of shareholder benefits for shareholders holding 300 or 500 shares
- Promotion of a roll-up of Hokkaido seafood-processing businesses, M&A of new core companies, and overseas sales as medium-term strategies
Unit price and quantity metricsThese figures show sales broken down by price and volume.
- The selling price per scallop adductor muscle increased
- Sales volume in the scallop-related business declined
- Ayu aquaculture volume: 700 tonnes at Mori Fish Farm, ranked No. 1 nationwide
Segment results
Manufacturing business segment
Net Sales
¥47,676 million
Year on year against the same period last year+0.1%
Sales business segment
Net Sales
¥9,532 million
Year on year against the same period last year4.6%
Other business segment
Net Sales
¥275 million
Year on year against the same period last year41.4%
Medium-term management plan targets
Under review again in light of current conditionsMarket Size / Share
- Hokkaido scallops for export: No. 1 market share
- Land-based ayu aquaculture: No. 1 market share
- Chilled shumai production volume: No. 1 in Japan
- Commercial-use spring-roll wrappers: No. 1 market share
- National ayu aquaculture volume: 3,487 tonnes; Mori Fish Farm: 700 tonnes
Number of employees
Number of Employees1,968 consolidated, 30 standalone
As ofEnd of February 2026
Capital expenditures
¥300 million–¥400 million
| Item | Details |
|---|---|
| Document type | Presentation materials for financial results |
| Fiscal Period Covered | Fiscal year ended February 2026 |
| Net Sales | ¥57,484 million (YoY -1.1%) |
| Operating profit | ¥1,568 million (YoY -62.3%) |
| Ordinary income | ¥1,692 million (YoY -60.2%) |
| Net income | ¥918 million (YoY -39.7%) |
| Full-year earnings forecast | Net Sales ¥57,500 million / Operating profit ¥2,000 million / Ordinary income ¥1,700 million / Profit attributable to owners of the parent ¥1,400 million / EBITDA ¥4,500 million |
| Segment results | Manufacturing business segment Net Sales ¥47,676 million / Year on year against the same period last year +0.1% / Sales business segment Net Sales ¥9,532 million / Year on year against the same period last year 4.6% / Other business segment Net Sales ¥275 million / Year on year against the same period last year 41.4% |
| Breakdown of Factors Affecting the Change | Factors Domestic non-scallop-related business / Amount +¥180 million, Factors Domestic scallop-related business / Amount -¥2.46 billion, Factors Inventory write-downs / Amount -¥480 million, Factors Overseas Business / Amount -¥310 million |
| Unit price and quantity metrics | The selling price per scallop adductor muscle increased, Sales volume in the scallop-related business declined, Ayu aquaculture volume: 700 tonnes at Mori Fish Farm, ranked No. 1 nationwide |
| Number of employees | Number of Employees 1,968 consolidated, 30 standalone / As of End of February 2026 |
| Assumptions Underlying the Business Outlook | The scallop business is projected conservatively because market conditions are difficult to predict, The ordinary profit forecast does not factor in foreign exchange gains or losses |
| Medium-term management plan targets | Under review again in light of current conditions |
| Capital expenditures | ¥300 million–¥400 million |
| Market Size / Share | Hokkaido scallops for export: No. 1 market share, Land-based ayu aquaculture: No. 1 market share, Chilled shumai production volume: No. 1 in Japan, Commercial-use spring-roll wrappers: No. 1 market share, National ayu aquaculture volume: 3,487 tonnes; Mori Fish Farm: 700 tonnes |
| New initiatives | Construction of a new plant by まるかわ食品. Planned investment of ¥300 million–¥400 million, scheduled to begin operations in December 2027, with production capacity expected to increase approximately 2.3 times, Enhancement of shareholder benefits for shareholders holding 300 or 500 shares, Promotion of a roll-up of Hokkaido seafood-processing businesses, M&A of new core companies, and overseas sales as medium-term strategies |
Items this document does not state (15)
Gross Profit MarginOperating profit marginSelling, general and administrative expensesResults for the three months of the current quarterProgress against full-year forecastSelf-assessment against the planKey KPIsNumber of stores and locationsRisk amount incorporated into the outlookFinancial targetsAnnual DividendPayout 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.In the scallop business, earnings were affected by the absence of sales of inventories whose carrying values had been reduced in the previous fiscal year following China's ban on imports of Japanese seafood, higher procurement prices and manufacturing costs due to lower catches, and an inventory write-down for boiled scallops. In the overseas business, sluggish sales to Singapore's restaurants, hotels and retailers, soaring procurement prices and the reversal of the previous fiscal year's scallop raw-material sales weighed on profit.
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