Meiji (2269) Q1 2027 earnings summary

Executive summary

• Q1 FY2026 consolidated operating profit rose to JPY 22.7 billion, up 27.7% year-over-year, with significant profit increases in both Food and Pharmaceutical segments.

• Net sales rose 5.8% year-over-year to JPY 289.4 billion, with profit attributable to owners of parent up 51.3%.

• Comprehensive income nearly doubled year-over-year, reflecting strong operational performance.

• Structural reforms advanced in Japan and overseas, including business transfers and plant closures.

Financial highlights

• Operating profit margin improved to 7.8% from 6.5% year-over-year.

• Ordinary profit was JPY 24.8 billion, up 37.8% year-over-year.

• Profit attributable to owners of parent increased 51.3% to JPY 15.3 billion.

• EPS rose to JPY 56.33 from JPY 37.27 year-over-year.

• Gross profit margin improved, with gross profit up 11.1% year-over-year.

Outlook and guidance

• Full-year net sales forecast at JPY 1,212.0 billion (+3.3% year-over-year), with operating profit projected at JPY 100.0 billion (+9.9%).

• Profit attributable to owners of parent expected to reach JPY 62.5 billion (+78.2%), with EPS forecast at JPY 230.61.

• No revisions to H1 or full-year guidance.

• Dividend payout ratio for FY2026 forecast at 81.1%.