Fuji Oil Co. Ltd. · TSE:2607
Fuji Oil — Q2 2025 Earnings Presentation
31 slides from Fuji Oil's earnings presentation, Nov 12, 2025
Slide 1: FY2025 First Half Earnings Conference Materials
FY2025 1H FY2025 First Half Earnings Conference Materials Nov 12, 2025
Slide 2: Contents
Contents １．FY2025 First Half Results ２．FY2025 Full-Year Forecast ３．Blommer’s Initiatives ４．Reference Materials 2
Slide 3: FY2025 First Half Results
１ FY2025 First Half Results 3
Slide 4: FY2025 First Half Results
1. FY2025 First Half Results FY2025 First Half Results Unit: JPY billion FY2024 1H FY2025 1H Net Sales 375.7 billion yen YOY +59.7 billion yen YOY Results Results Net sales increased thanks to higher sales prices to reflect Net sales 316.0 375.7 +59.7 higher raw material prices such as palm oil and
Slide 5: FY2025 First Half Results by Business
1. FY2025 First Half Results FY2025 First Half Results by Business Unit: JPY billion FY2024 1H FY2025 1H Results Results YOY Business Profit by Business Vegetable Oils and Fats Net Sales 316.0 375.7 +59.7 ・Sales of CBE remained strong, and higher sales prices drove profit growth. Vegetable Oils and
Slide 6: FY2025 First Half Business Profit Analysis
1. FY2025 First Half Results FY2025 First Half Business Profit Analysis Thanks to increased demand for CBE, business profit increased by 8.7 JPY billion to 15.4 JPY billion. Unit: JPY billion Business Profit Analysis YOY Price Factor (56.6) +14.3 +70.9 Business Profit +8.7 (6.0) (7.8) 16.6 (9.9) 15.
Slide 7: B/S・C/F
1. FY2025 First Half Results B/S・C/F Interest-bearing debt remained at a high level due to the increased operating capital, but is expected to decrease in second half due to improved profitability and more efficient operating capital management. B/S Unit: JPY billion C/F Unit: JPY billion FY2024 End
Slide 8: FY2025 1H: Net Sales, Business Profit (by Business, Area)
1. FY2025 First Half Results FY2025 1H: Net Sales, Business Profit (by Business, Area) Unit: JPY million Japan Europe and Americas Asia Consolidated Total Net Sales FY YOY YOY YOY YOY 2025 1H（IFRS） 37,834 +8,284 69,453 +22,121 24,617 +4,768 131,905 +35,174 Vegetable Oils and Fats 2024 1H（IFRS） 29,54
Slide 9: FY2025 Full-Year Forecast
2 FY2025 Full-Year Forecast 9
Slide 10: FY2025 Full-Year Forecast
2. FY2025 Full-Year Forecast FY2025 Full-Year Forecast In light of risk factors for the second half and beyond, we are leaving our full-year earnings forecast unchanged. Full-Year Forecast FY2025 Strong performance in the Vegetable Oils and Fats Forecast for the second half 1H Business, led by CBE s
Slide 11: Overview by Business Segment: Vegetable Oils and Fats
2. FY2025 Full-Year Forecast Overview by Business Segment Vegetable Oils and Fats Business Profit FY2025 1H New Business Fields Unit: JPY billion Profit increased on strong sales of vegetable fats for chocolate Full-Year (CBE) and frying oils and fats. Melavio® 26.8 A new brand that combines the ric
Slide 12: Overview by Business Segment: Industrial Chocolate
2. FY2025 Full-Year Forecast Overview by Business Segment Industrial Chocolate（excluding Blommer） Business Profit FY2025 1H New Business Fields Unit: JPY billion Profits decreased on higher costs for cocoa and oils and fats Full-Year despite strong sales of compound chocolate driven by a shift in Ne
Slide 13: Results and Full-Year Forecast of Blommer
2. FY2025 Full-Year Forecast Results and Full-Year Forecast of Blommer Advanced initiatives to mitigate the impact of Cocoa Special Factors. During the second half, we project performance improvements in line with forecasts. FY2025 Results of Blommer Unit: JPY billion FY2025 Q1 FY2025 Q2 FY2025 1H F
Slide 14: Overview by Business Segment
2. FY2025 Full-Year Forecast Overview by Business Segment Emulsified and Fermented Ingredients Business Profit FY2025 1H New Business Fields Unit: JPY billion Profit decreased mainly due to higher costs for raw materials Full-Year such as oils and fats outpacing adjustments to selling prices, “Matur
Slide 15: Blommer's Initiatives
３ Blommer’s Initiatives 15
Slide 16: Purpose of Acquisition
3. Blommer’s Initiatives Purpose of Acquisition Aim to achieve growth through the expansion of compound products leveraging Fuji Oil’s technology in the North American market, where growth is expected. Purpose of Acquisition（Acquired in Jan. 2019) Expanding into the world’s largest chocolate market
Slide 17: Changes in the U.S. Market Environment and Soaring Cocoa Prices
3. Blommer’s Initiatives Changes in the U.S. Market Environment and Soaring Cocoa Prices Problems emerged after changes in the external environment following acquisition and soaring cocoa prices since 2024, leading to declining profitability. Soaring Cocoa Prices and Expansion of Losses Driven by Co
Slide 18: Driving Structural Reforms
3. Blommer’s Initiatives Driving Structural Reforms Driving Structural Reforms to address challenges arising from changes in the external environment after the acquisition. Initiatives progressed, contributing to improved profitability. Structural Reforms（Mar. 2024） Management system reinforcement S
Slide 19: Transformation of Blommer
3. Blommer’s Initiatives Transformation of Blommer Strengthen the expansion of compound products and drive profitability improvement by fostering synergies within the Fuji Oil Group. Expanding Sales of Compound Products FY2027 Target Sales of compound products, which have strong price stability, Com
Slide 20: Reference Materials
fr. FUJI OILCO.,LTD. Reference Materials
Slide 21: Cocoa Market Trends
4. Reference Materials Cocoa Market Trends Fluctuations in the Cocoa Market ① In the 2023/24 crop year, significant production shortfalls occurred in West Africa, the primary production region, due to adverse weather conditions. This resulted in unprecedented sharp price increases. ②For the 2024/25
Slide 22: Notes
4. Reference Materials Notes Voluntary Adoption of IFRS Changes of Segment Information Based on the Management Approach ・From the first quarter of FY2025, we have adopted International Financial Reporting Standards (IFRS). In fiscal year 2025, we shifted from a group headquarters structure (pure hol
Slide 23: Business Performance Trends by Segment
4. Reference Materials Business Performance Trends by Segment Vegetable Oils and Fats Unit: JPY billion Industrial Chocolate Unit: JPY billion J-GAAP IFRS J-GAAP IFRS Net Sales FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 Net Sales FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 Q1 22.3 29.0 49.2 45.7 47.7 6
Slide 24: Business Performance Trends by Segment
4. Reference Materials Business Performance Trends by Segment Emulsified and Fermented Ingredients Unit: JPY billion Soy-based Ingredients Unit: JPY billion J-GAAP IFRS J-GAAP IFRS Net Sales FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 Net Sales FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 Q1 16.5 19.0 22
Slide 25: Major Indicators(PL related)
4. Reference Materials Major Indicators(PL related) Major Indicators IFRS FY2025 (Total Results） FY2025 Primary Item Item Unit Note FY2024 Q1 Q2 Q3 Q4 Forecast Business profit JPY billion 13.3 5.7 15.4 29.5 Business profit growth rate ％ - (32.1％) 131.6% - EBITDA JPY billion 30.7 9.6 24.1 - Capital e
Slide 26: Major Indicators(BS, CS related)
4. Reference Materials Major Indicators(BS, CS related) Major Indicators IFRS FY2025 (Total Results） FY2025 Primary Item Item Unit Note FY2024 Q1 Q2 Q3 Q4 Forecast Total assets JPY billion 597.1 608.0 650.4 575.0 Interest-bearing debt JPY billion 283.7 288.5 309.5 228.5 NET Interest-bearing debt JPY
Slide 27: Sales Volumes of Major Product Categories (YOY)
4. Reference Materials Sales Volumes of Major Product Categories (YOY) FY2024 Results FY2025 Results Business Area Product Q1 Q2 Q3 Q4 Total Q1 Q2 Q3 Q4 Total Japan 106% 106% 110% 101% 106% 102％ 106% Vegetable Oils Americas Vegetable fats for 84% 89% 94% 75% 85% 76％ 101% and Fats chocolate（CBE,CBR,C
Slide 28: Main Raw Material Prices (~ the End of Oct.2025)
4. Reference Materials Main Raw Material Prices (~ the End of Oct.2025) Market Conditions Market Conditions Market prices rose from July to September 2025 due to Market prices rose from July to September 2025 due to a biofuel policy trends, increasing demand in China and India, demand shift to palm
Slide 29: Main Raw Material Prices (~ the End of Oct.2025)
4. Reference Materials Main Raw Material Prices (~ the End of Oct.2025) Market Conditions Market Conditions Market prices have been on a downward trend, driven by Market conditions have been unstable as the U.S.-China declining demand for chocolate and increased production in the trade friction incl
Slide 30: Topics / Pick out
4. Reference Materials Topics / Pick out Release of Sustainability Report 2025 and Integrated Report Launched New Plant-Based Oil Brand: Melavio® 2025 Fuji Oil Co., Ltd. established Melavio® as a new brand of vegetable oils and fats and launched a Fuji Oil Co., Ltd. released the Japanese version of
Slide 31: This document has been translated from the Japanese original for reference purposes only. In
This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail. The forward-looking statements, including earnings forecasts, contained in this document a