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Presentation materials for financial results2918WARABEYA NICHIYO HOLDINGS CO.,LTD.Food

Financial Results Briefing Materials for the Fiscal Year Ending February 2026

For the fiscal year ended February 2026, revenue, operating profit, ordinary profit and net income all reached record highs. The earnings impact of higher revenue in the domestic food business and improved factory profitability drove profits higher, while ¥560 million in costs related to the Sapporo factory fire was recorded as an extraordinary loss.

Worth reading
73In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.
Direction
Improvement
Direction inferred from the company’s description.
Scale
2925
¥ million (year-on-year increase in operating income)
Wording
—
How definitive the wording is.

Contents of this document

Presentation materials for financial resultsFull fiscal year ended February 202613 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥233,833 million+5.1%
Operating profit¥7,441 million+64.8%
Ordinary income¥7,414 million+51.3%
Net income¥5,339 million +99.3%net income attributable to owners of the parent
Operating profit margin
Rate3.2 %
Full-year earnings forecast
Net Sales
¥241,000 million
Operating profit
¥7,700 million
Ordinary income
¥7,650 million
Net income
¥4,800 million net income attributable to owners of the parent
EPS
¥277.2
ROE
7.9 %
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
  • Raw material prices-85 Hundreds of millions of yen
  • Personnel expenses-16.3 Hundreds of millions of yen
  • Utilities and logistics costs-6.5 Hundreds of millions of yen
  • Product specification review and revenue growth126.4 Hundreds of millions of yen
  • Iruma factory12 Hundreds of millions of yen
  • Isesaki factory2.4 Hundreds of millions of yen
  • Factory reorganization costs10.2 Hundreds of millions of yen
  • Maintenance costs and other expenses-11.1 Hundreds of millions of yen
  • Impact of lower revenue at Warabeya North America-4.6 Hundreds of millions of yen
  • Group-related businesses and other factors1.7 Hundreds of millions of yen
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
  • 155 JPY/USD
    AssumptionsU.S. dollar exchange rate
  • AssumptionsSapporo Plant
    DetailsNo resumption of operations is assumed for the fiscal year ending February 2027
    ImpactRevenue -¥6 billion; operating profit -¥330 million; ordinary profit -¥530 million
  • AssumptionsOhio factory
    DetailsOperations are not included in the forecast for the fiscal year ending February 2027
    ImpactRevenue ¥5 billion; operating profit -¥500 million
  • ¥16 millions annual impact on operating profit of a ¥1 depreciation of the yen
    AssumptionsForeign exchange sensitivity
New initiatives
  • Establishment of separate companies by region for the domestic food business (newly establishing Warabeya Kansai, Warabeya Chubu and Warabeya Hokkaido; effective 1 March 2026)
  • Installation of equipment to fully roll out the frozen counter product Ookii Bun in North America
  • Commencement of operations at a frozen-food warehouse (scheduled for spring 2027)
  • Establishment and commencement of operations of the Food Science Center (January 2026)
  • Closure of the Murayama No. 2 factory and transfer of production to the Sagamihara factory
Key KPIsA metric the company considers important as a management benchmark.
  • EPS¥307.34
    Year on year against the same period last year+¥153.93
  • ROE9.2 %
    Year on year against the same period last year+4.3pt
  • Number of domestic customer stores supplied18,415 stores
    Year on year against the same period last year+142 stores
  • Number of U.S. customer stores supplied2,167 stores
    Year on year against the same period last year-43 stores
  • Domestic non-rice-based products as a percentage of sales32.2 %
    Year on year against the same period last year+5.8 pts vs. 5 years ago
  • Equity ratio45.1 %
    Year on year against the same period last year-1.8pt
Segment results
  • Food-Related Business
    Net Sales2,099 Hundreds of millions of yen (YoY +5.8%)
    Operating profit70 Hundreds of millions of yen (YoY +64.9%)
  • Food-materials-related business
    Net Sales111 Hundreds of millions of yen (YoY -1.8%)
    Operating profit4.8 Hundreds of millions of yen (YoY -3.9%)
  • Logistics-related business
    Net Sales126 Hundreds of millions of yen (YoY 0.0%)
    Operating profit9.3 Hundreds of millions of yen (YoY +36.8%)
  • Adjustments
    Operating profit-9.7 Hundreds of millions of yen
Medium-term management plan targets
Target fiscal yearFiscal year ending February 2028
Net Sales¥250 billion
Operating profit¥10 billion
ROE10% or higher
Comparison with actual resultsFiscal year ended February 2026 results: revenue of ¥233.8 billion, operating profit of ¥7.4 billion, and ROE of 9.2%
Financial targets
Medium-term target
ROE10% or higher
Actual results
ROE9.2%
Equity ratio45.1%
Risk amount incorporated into the outlookThe amount representing the range of variation the company expects in its forecast.
  • Revenue -¥6 billion; operating profit -¥330 million; ordinary profit -¥530 million
    DetailsSuspension of operations due to the Sapporo factory fire
  • Operating profit -¥500 million (previously assumed revenue of ¥5 billion)
    DetailsOhio factory not yet operational
Number of stores and locations
Number at period-end18,415 domestic customer stores supplied; 2,167 U.S. customer stores supplied
Number of employees
Number of Employees1,960 people
Capital expenditures
¥15,718 million
Annual Dividend
Annual dividend per share¥120
Payout ratio
Rate39 %
PolicyProvide stable and consistent dividends, targeting a consolidated payout ratio of 40%
Contents of this document
ItemDetails
Document typePresentation materials for financial results
Fiscal Period CoveredFull fiscal year ended February 2026
Net Sales¥233,833 million (YoY +5.1%)
Operating profit¥7,441 million (YoY +64.8%)
Ordinary income¥7,414 million (YoY +51.3%)
Net income¥5,339 million (net income attributable to owners of the parent) (YoY +99.3%)
Operating profit marginRate 3.2 % / Year-on-year change (points) Not disclosed
Full-year earnings forecastNet Sales ¥241,000 million / Operating profit ¥7,700 million / Ordinary income ¥7,650 million / Net income ¥4,800 million (net income attributable to owners of the parent) / EPS ¥277.2 / ROE 7.9 %
Segment resultsSegment Food-Related Business / Net Sales 2,099 Hundreds of millions of yen (YoY +5.8%) / Operating profit 70 Hundreds of millions of yen (YoY +64.9%), Segment Food-materials-related business / Net Sales 111 Hundreds of millions of yen (YoY -1.8%) / Operating profit 4.8 Hundreds of millions of yen (YoY -3.9%), Segment Logistics-related business / Net Sales 126 Hundreds of millions of yen (YoY 0.0%) / Operating profit 9.3 Hundreds of millions of yen (YoY +36.8%), Segment Adjustments / Net Sales Not disclosed / Operating profit -9.7 Hundreds of millions of yen
Breakdown of Factors Affecting the ChangeFactors Raw material prices / Amount -85 Hundreds of millions of yen, Factors Personnel expenses / Amount -16.3 Hundreds of millions of yen, Factors Utilities and logistics costs / Amount -6.5 Hundreds of millions of yen, Factors Product specification review and revenue growth / Amount 126.4 Hundreds of millions of yen, Factors Iruma factory / Amount 12 Hundreds of millions of yen, Factors Isesaki factory / Amount 2.4 Hundreds of millions of yen, Factors Factory reorganization costs / Amount 10.2 Hundreds of millions of yen, Factors Maintenance costs and other expenses / Amount -11.1 Hundreds of millions of yen, Factors Impact of lower revenue at Warabeya North America / Amount -4.6 Hundreds of millions of yen, Factors Group-related businesses and other factors / Amount 1.7 Hundreds of millions of yen
Key KPIsIndicator name EPS / Value ¥307.34 / Year on year against the same period last year +¥153.93, Indicator name ROE / Value 9.2 % / Year on year against the same period last year +4.3pt, Indicator name Number of domestic customer stores supplied / Value 18,415 stores / Year on year against the same period last year +142 stores, Indicator name Number of U.S. customer stores supplied / Value 2,167 stores / Year on year against the same period last year -43 stores, Indicator name Domestic non-rice-based products as a percentage of sales / Value 32.2 % / Year on year against the same period last year +5.8 pts vs. 5 years ago, Indicator name Equity ratio / Value 45.1 % / Year on year against the same period last year -1.8pt
Number of stores and locationsNumber at period-end 18,415 domestic customer stores supplied; 2,167 U.S. customer stores supplied / Number of store openings and closures during the period Not disclosed
Number of employeesNumber of Employees 1,960 people / Change during the period Not disclosed / Hiring plan Not disclosed
Assumptions Underlying the Business OutlookAssumptions U.S. dollar exchange rate / Value 155 JPY/USD, Assumptions Sapporo Plant / Details No resumption of operations is assumed for the fiscal year ending February 2027 / Impact Revenue -¥6 billion; operating profit -¥330 million; ordinary profit -¥530 million, Assumptions Ohio factory / Details Operations are not included in the forecast for the fiscal year ending February 2027 / Impact Revenue ¥5 billion; operating profit -¥500 million, Assumptions Foreign exchange sensitivity / Value ¥16 millions (annual impact on operating profit of a ¥1 depreciation of the yen)
Risk amount incorporated into the outlookDetails Suspension of operations due to the Sapporo factory fire / Amount Revenue -¥6 billion; operating profit -¥330 million; ordinary profit -¥530 million, Details Ohio factory not yet operational / Amount Operating profit -¥500 million (previously assumed revenue of ¥5 billion)
Medium-term management plan targetsTarget fiscal year Fiscal year ending February 2028 / Net Sales ¥250 billion / Operating profit ¥10 billion / ROE 10% or higher / Comparison with actual results Fiscal year ended February 2026 results: revenue of ¥233.8 billion, operating profit of ¥7.4 billion, and ROE of 9.2%
Financial targetsMedium-term target ROE 10% or higher / Actual results ROE 9.2% / Equity ratio 45.1%
Annual DividendAnnual dividend per share ¥120 / Interim Not disclosed / End of period Not disclosed
Payout ratioRate 39 % / Policy Provide stable and consistent dividends, targeting a consolidated payout ratio of 40%
Capital expenditures¥15,718 million
New initiativesEstablishment of separate companies by region for the domestic food business (newly establishing Warabeya Kansai, Warabeya Chubu and Warabeya Hokkaido; effective 1 March 2026), Installation of equipment to fully roll out the frozen counter product Ookii Bun in North America, Commencement of operations at a frozen-food warehouse (scheduled for spring 2027), Establishment and commencement of operations of the Food Science Center (January 2026), Closure of the Murayama No. 2 factory and transfer of production to the Sagamihara factory
Items this document does not state (10)
Gross Profit MarginSelling, general and administrative expensesResults for the three months of the current quarterProgress against full-year forecastSelf-assessment against the planUnit price and quantity metricsAcquisition of treasury sharesOrders received and order backlogMarket Size / ShareKey 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.

Higher revenue in the domestic food-related business, the revenue impact including the review of product specifications, improved profitability at the Iruma factory, and lower factory restructuring costs contributed to higher profits. These gains absorbed the negative factors of higher raw material prices, personnel expenses, utilities and logistics costs, manufacturing costs, and lower revenue from overseas operations.

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Financial Results Briefing Materials for the Fiscal Year Ending February 2026 | WARABEYA NICHIYO HOLDINGS CO.,LTD. (2918) timely disclosure | Komori