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Pigeon
Pigeon (7956) investor relations material
Pigeon Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary13 Feb, 2026
Executive summary
Achieved year-on-year increases in sales and income for FY Dec. 2025, with operating margin improvement across all business segments.
China business delivered double-digit sales growth, while Japan and Singapore businesses saw over 20% income growth.
Lansinoh business posted strong sales in Europe and the U.S., though U.S. income declined due to tariff impacts.
Executed Eighth Medium-Term Business Plan, focusing on brand, core product, and regional strategies for sustainable growth.
Financial highlights
FY Dec. 2025 consolidated net sales: ¥109,170 million, up 4.8% year-over-year.
Operating income: ¥13,158 million, up 8.4% year-over-year; net income attributable to owners: ¥8,570 million, up 2.4%.
Gross margin improved to 50.2% from 49.3% the previous year; operating margin was 12.1%, up from 11.7%.
All business segments saw sales growth; income increased in all but Lansinoh.
Net assets increased to ¥85,887 million; total assets reached ¥110,088 million.
Outlook and guidance
FY Dec. 2026 forecast: net sales ¥113,500 million (+4.0% YoY), operating income ¥13,900 million (+5.6% YoY), net income ¥9,140 million (+6.7% YoY).
9th Mid-Term Plan (2026–2028) targets: net sales ¥125 billion, operating profit ¥20 billion, operating margin 16%.
Focus on expanding global market share in nursing bottles/nipples to 20% over 10 years.
Dividend for FY2026 projected to remain at ¥76 per share.
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Next Pigeon earnings date
Q1 202612 May, 2026
Pigeon
Next Pigeon earnings date
Q1 202612 May, 2026
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Frequently asked questions
Pigeon Corporation is a Japan-based company engaged in the development, manufacturing, and sale of baby and maternity products. Its product portfolio includes baby bottles, nipples, skincare items, breastfeeding aids, and hygiene products, as well as goods for elderly care and health management. The company distributes its products through retail stores, e-commerce platforms, and healthcare facilities, serving both domestic and international markets. Pigeon also conducts research to support product development focused on infant and maternal care. The company is headquartered in Tokyo, Japan, and its shares are listed on the TSE.
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