Kikkoman’s full-year forecast was raised to reflect foreign exchange movements, with revenue revised to ¥816.4 billion and operating profit to ¥85.1 billion, while net income attributable to owners of the parent was left unchanged at ¥61.3 billion.
Kikkoman revised its full-year earnings forecast, raising revenue to ¥816.4 billion and operating profit to ¥85.1 billion, while leaving net income unchanged at ¥61.3 billion. The revision is said to primarily reflect the impact of the weaker yen. Accordingly, the company is pursuing a policy of focusing on steady business operations to support growth this fiscal year.
In the short term, the impact of food and beverage operations, input costs and foreign exchange on reported earnings will remain important factors. The market valuation, with a PER of 23.6x, has been described as below the valuation indicated by the DCF model, although some view the company’s relative valuation within the industry as still solid.