TOHO revised its full-year revenue forecast upward. The distributor business was the main driver, while demand from food wholesalers serving Japan’s foodservice industry remained solid.
TOHO announced that it had revised its full-year revenue forecast upward. The distributor business was a key growth driver, while solid performance by food wholesalers serving Japan’s foodservice industry was cited as a factor behind the upward revision.
In its second-quarter cumulative results highlights, revenue was ¥136.455 billion, up 10.9% year on year, reflecting strong sales to Japan’s foodservice industry and the contribution from 三協食鳥, which joined the group in the previous fiscal year. Operating profit was ¥3.697 billion, up 7.0% year on year, while interim net income was ¥2.371 billion, up 32.3% year on year.
The distributor business and initiatives by group companies made particularly strong contributions, while the cash-and-carry business posted higher revenue but lower profit. The full-year revenue forecast was revised upward, while profit forecasts were left unchanged. By segment, the distributor and C&C businesses are expected to generate higher revenue, while the food solutions business is expected to see revenue decline. Capital investment is expected to total approximately ¥2.7 billion, and the company also outlined plans to open new locations and invest in systems during the second half.