Ajinomoto (2802) Q3 2026 earnings summary

Executive summary

• Sales, business profit, and profit attributable to owners reached new record highs for the first three quarters of FY2025, with strong acceleration in the third quarter and robust performance in both domestic and overseas markets.

• Upward revisions were made to full-year forecasts for business profit and profit attributable to owners, driven by strong segment performance and gains from asset sales.

• Strategic focus for FY2026 includes accelerating growth in Bio & Fine Chemicals and achieving 2030 Roadmap targets ahead of schedule.

Financial highlights

• Cumulative Q3 FY2025 sales reached ¥1,164.1 billion (101% YoY), business profit ¥145.9 billion (105% YoY), and profit attributable to owners ¥89.7 billion (108% YoY).

• Q3 FY2025 sales were ¥425.2 billion (104% YoY), business profit ¥59.2 billion (115% YoY), and profit attributable to owners ¥38.5 billion (119% YoY).

• FY2025 revised full-year forecast: sales ¥1,600 billion (104% YoY), business profit ¥181 billion (113% YoY), profit attributable to owners ¥130 billion (184% YoY).

• Gross profit for the nine months was ¥445.4 billion, up from ¥422.0 billion year-over-year.

• Basic earnings per share increased to ¥91.82 from ¥81.54 year-over-year.

Outlook and guidance

• Full-year FY2025 business profit and profit attributable to owners are revised upward, with sales forecast slightly reduced due to currency effects and lower expectations in some segments.

• FY2026 targets include continued growth in Seasonings and Foods and dramatic expansion in Bio & Fine Chemicals.

• The company aims to achieve its 2030 roadmap targets ahead of schedule, focusing on sustainable growth in core segments and targeting approximately 3x EPS versus FY2022 and ROE of approximately 17%.