Worth reading
61In focus
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
13574
¥ million (year-on-year increase in revenue)Wording
Conditional
How definitive the wording is.Contents of this document
Financial results presentationFiscal year ending March 202614 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥363,666 million+3.9%
Operating profit¥6,335 million+24.2%
Ordinary income¥6,811 million+15.6%
Net income¥5,379 million+18.8%
Full-year earnings forecast
Net Sales
¥355,000 million
Operating profit
¥4,600 million
Ordinary income
¥4,800 million
Net income
¥3,200 million
Annual Dividend
¥172 per share
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Higher revenue and profits than in the second year of the medium-term management planBreakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Higher sales, elevated aquaculture yellowtail prices, higher expenses, logistics costs and personnel expenses, narrower margins, and persistently high feed prices
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Fish prices, aquaculture yellowtail selling prices, feed prices, foreign exchange trends, consumption trends and the situation in the Middle EastNew initiatives
- Change to the rules for determining the continuous holding period under the shareholder benefit program
- Raise the DOE level from 1.6% to 2.4%
- Prepare to commence operations at the local subsidiary in Vietnam
- Strengthen the manufacturing and product capabilities of gas-flush packaging products
Key KPIsA metric the company considers important as a management benchmark.
- ROE14 %Year on year against the same period last year+0.4%
- ROIC7.5 %Year on year against the same period last year+1.1%
- Equity ratio42.8 %Year on year against the same period last year+3.4%
- PBR0.53 timesYear on year against the same period last year+0.0%
- PER4 timesYear on year against the same period last year+0.2%
- Total oyster volume handled399,901 kgYear on year against the same period last year+66.7%
Unit price and quantity metricsThese figures show sales broken down by price and volume.
For aquaculture yellowtail, the number of fish shipped declined, while market selling prices remained elevated. For oysters, trends in volume handled and average selling prices are provided.Segment results
Seafood receiving business: Revenue increased year on year, while segment profit declined due to higher expenses and other factors. Off-market seafood wholesale business: Revenue increased year on year, while segment profit declined due to narrower margins, higher personnel expenses and other factors. Aquaculture business: Revenue increased year on year, while segment profit rose significantly from a loss in the previous fiscal year. Figures for other segments are not disclosed.Medium-term management plan targets
Final yearFiscal year ending March 2027
Net Sales¥341,000 millions, except ROE and ROIC
Operating profit¥4,300 millions, except ROE and ROIC
Ordinary income¥4,300 millions, except ROE and ROIC
Net income¥2,900 millions, except ROE and ROIC
ROEMaintain ROE at 8.0%
ROICMaintain ROIC at 5.0%
Comparison with actual resultsActual results for the fiscal year ending March 2026 exceeded the second-year plan under the medium-term management plan.
Financial targets
ROE target: 8.0%; ROIC target: 5.0%. Actual results for the fiscal year ending March 2026 were ROE of 14.0%, ROIC of 7.5% and an equity ratio of 42.8%.Market Size / Share
Japan's aquaculture yellowtail production was 103,780 tonnes in 2024. The prefectures with the largest shares were Kagoshima at 24.5%, Ehime at 19.0% and Oita at 15.7%. The top 5 prefectures accounted for just under 80% of the total.Number of stores and locations
Following the establishment of a local subsidiary in Vietnam, preparations are underway to commence operations. The Takamatsu Sales Office was closed at the end of March 2026. The number of locations at fiscal year-end is not disclosed.Capital expenditures
¥1,370 million acquisitions of property, plant and equipment
Annual Dividend
Fiscal year ending March 2026
¥167 per share
BreakdownYear-end dividend: ¥167 (planned)
Fiscal year ending March 2027
¥172 per share
BreakdownYear-end dividend: ¥172 (forecast)
Payout ratio
Not disclosed. DOE changed to 2.4% from the year-end dividend for the fiscal year ending March 2026.| Item | Details |
|---|---|
| Document type | Financial results presentation |
| Fiscal Period Covered | Fiscal year ending March 2026 |
| Net Sales | ¥363,666 million (YoY +3.9%) |
| Operating profit | ¥6,335 million (YoY +24.2%) |
| Ordinary income | ¥6,811 million (YoY +15.6%) |
| Net income | ¥5,379 million (YoY +18.8%) |
| Full-year earnings forecast | Net Sales ¥355,000 million / Operating profit ¥4,600 million / Ordinary income ¥4,800 million / Net income ¥3,200 million / Annual Dividend ¥172 per share |
| Self-assessment against the plan | Higher revenue and profits than in the second year of the medium-term management plan |
| Segment results | Seafood receiving business: Revenue increased year on year, while segment profit declined due to higher expenses and other factors. Off-market seafood wholesale business: Revenue increased year on year, while segment profit declined due to narrower margins, higher personnel expenses and other factors. Aquaculture business: Revenue increased year on year, while segment profit rose significantly from a loss in the previous fiscal year. Figures for other segments are not disclosed. |
| Breakdown of Factors Affecting the Change | Higher sales, elevated aquaculture yellowtail prices, higher expenses, logistics costs and personnel expenses, narrower margins, and persistently high feed prices |
| Key KPIs | ROE 14 %, ROIC 7.5 %, Equity ratio 42.8 %, PBR 0.53 times, PER 4 times, Total oyster volume handled 399,901 kg |
| Unit price and quantity metrics | For aquaculture yellowtail, the number of fish shipped declined, while market selling prices remained elevated. For oysters, trends in volume handled and average selling prices are provided. |
| Number of stores and locations | Following the establishment of a local subsidiary in Vietnam, preparations are underway to commence operations. The Takamatsu Sales Office was closed at the end of March 2026. The number of locations at fiscal year-end is not disclosed. |
| Assumptions Underlying the Business Outlook | Fish prices, aquaculture yellowtail selling prices, feed prices, foreign exchange trends, consumption trends and the situation in the Middle East |
| Medium-term management plan targets | Final year Fiscal year ending March 2027 / Net Sales ¥341,000 millions, except ROE and ROIC / Operating profit ¥4,300 millions, except ROE and ROIC / Ordinary income ¥4,300 millions, except ROE and ROIC / Net income ¥2,900 millions, except ROE and ROIC / ROE Maintain ROE at 8.0% / ROIC Maintain ROIC at 5.0% / Comparison with actual results Actual results for the fiscal year ending March 2026 exceeded the second-year plan under the medium-term management plan. |
| Financial targets | ROE target: 8.0%; ROIC target: 5.0%. Actual results for the fiscal year ending March 2026 were ROE of 14.0%, ROIC of 7.5% and an equity ratio of 42.8%. |
| Annual Dividend | Fiscal year ending March 2026 ¥167 per share / Fiscal year ending March 2027 ¥172 per share |
| Payout ratio | Not disclosed. DOE changed to 2.4% from the year-end dividend for the fiscal year ending March 2026. |
| Capital expenditures | ¥1,370 million (acquisitions of property, plant and equipment) |
| Market Size / Share | Japan's aquaculture yellowtail production was 103,780 tonnes in 2024. The prefectures with the largest shares were Kagoshima at 24.5%, Ehime at 19.0% and Oita at 15.7%. The top 5 prefectures accounted for just under 80% of the total. |
| New initiatives | Change to the rules for determining the continuous holding period under the shareholder benefit program, Raise the DOE level from 1.6% to 2.4%, Prepare to commence operations at the local subsidiary in Vietnam, Strengthen the manufacturing and product capabilities of gas-flush packaging products |
Items this document does not state (10)
Gross Profit MarginOperating profit marginSelling, general and administrative expensesResults for the three months of the current quarterProgress against full-year forecastNumber of employeesRisk amount incorporated into the outlookAcquisition 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.For the fiscal year ending March 2026, higher sales in the seafood receiving business and the off-market seafood wholesale business, together with the earnings contribution from the aquaculture yellowtail business, where selling prices remained at elevated levels, were the main drivers of higher revenue and profits. For the fiscal year ending March 2027, the Company has made a cautious forecast, taking into account persistently high fish prices, rising costs, the situation in the Middle East, signs of a decline in aquaculture yellowtail prices and concerns about weaker consumption.
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.