Toyo Suisan Kaisha (2875) Q4 2025 earnings summary

Executive summary

• Achieved record consolidated net sales of ¥507.6 billion for FY2024, up 3.8% year-over-year, driven by price revisions and strong demand in both domestic and overseas markets.

• Operating profit reached ¥75.5 billion, a 13.2% increase year-over-year, with profit growth mainly in the overseas instant noodles segment.

• Profit attributable to owners of parent rose 13% to ¥62.9 billion, reflecting improved profitability and cost management.

• All major segments reported sales growth, with notable profit increases in Overseas Instant Noodles and Frozen and Refrigerated Foods.

• The company acquired Fuji Tsukuba Foods, Ltd. to secure stable procurement of key ingredients.

Financial highlights

• Net sales: ¥507.6 billion (+3.8% YoY); Operating profit: ¥75.5 billion (+13.2% YoY); Ordinary profit: ¥83.9 billion (+12.1% YoY).

• Operating profit margin improved to 14.9% from 13.6% in the prior year.

• EBITDA reached ¥92.2 billion, up from ¥83.7 billion in FY2023.

• Total assets increased by 4.2% to ¥594.98 billion; net assets rose 4.0% to ¥493.64 billion.

• Dividend per share maintained at ¥200, with payout ratio at 31.9%.

Outlook and guidance

• FY2025/2026 net sales forecast at ¥545.0 billion (+7.4% YoY); operating profit projected at ¥76.0 billion (+0.7% YoY).

• Profit attributable to owners of parent expected at ¥62.0 billion (-1.4% YoY), with EBITDA forecast at ¥96.0 billion.

• Capital expenditure planned at ¥50.8 billion, focusing on plant expansions and efficiency improvements.

• ROE target for FY2027 set at 12%, exceeding the 10% benchmark.

• The company will focus on cost reductions and restructuring distribution to address competitive pressures.