Itoham Yonekyu Holdings, Inc. · TSE:2296

Itoham Yonekyu — FY2025 Earnings Presentation

45 slides from Itoham Yonekyu's earnings presentation, May 1, 2026

  1. Slide 1: FY2025 Full-Year Financial Results

    ITOHAM YONEKYU HOLDINGS INC. （TSE Prime：2296） FY2025 Full-Year Financial Results (Apr 1, 2025 – Mar 31, 2026) May 01, 2026

  2. Slide 2: Full-year results for FY2025 and forecast for FY2026

    Full-year results for FY2025 Consolidated ✓ Revenue and profit growth (Revenue: JPY1,071.4B (+8.4%)Ordinary Profit: 30.4B (+46.5%) Earnings Summary ✓ Mid-Term Plan Targets Achieved One Year Early(Ordinary Profit 30.4B | ROE 7.0% | ROIC 6.2%) Mid-Term Plan Targets: Ordinary Profit ¥30.0bn | ROE 6.2%

  3. Slide 3: Agenda

    01 Earnings Results ・Full Year Results for FY2025 4 3 ・Full Year Forecast for FY2026 14 02 Supplemental Data 23 03 Appendix 33 Note: The financial information disclosed by Japanese GAAP and FY2026 shows from Apr 1, 2026 to March 31, 2027. This material is rounded off to second decimal places. Theref

  4. Slide 4: Consolidated FY2025 Results

    01 Earnings Results （FY2025 Results） [Consolidated] FY2025 full year result billion yen % Year-on-Year Previous forecast Amount Change FY2025 Results of sales Change Change% Rev 5-Feb Revenue and profit growth Sales 1,071.4 - +82.6 +8.4% 1,050.0 +21.4 Sales : +8.4% Operating Ordinary Profit : +46.5%

  5. Slide 5: Consolidated Ordinary Profit Variance Analysis

    01 Earnings Results （Full Year Results） billion yen -0.3 +10.3 [Consolidated] 経常利益増減分析 FY2025 Results YoY 経営統合後のシナジー発現に • Variance Factors 伴い、稼ぐ力が着実に向上、 当社の強みは Processed Food : - 0.3B Ordinary 安定した基礎収益力と認識 Meat : + 10.3B Profit • 稼ぐ力を原資に成長投資を実行、 Change from Previous Forecast Ordinary 30.4 Profit bil

  6. Slide 6: Processed Food Division FY2025 Results

    01 Earnings Results （FY2025 Results） [Processed Food Division] Segment Info FY2025 full year results billion yen % Year-on-Year Previous forecast Amount Change FY2025 Results of sales Change Change% Rev 5-Feb (1Q)100％ 横12.73 縦3.22 Decline in revenue and profit Sales 398.6 - -2.3 (2Q~)85％横11.03、縦5.04

  7. Slide 7: Processed Food Division Ordinary Profit Factors

    01 Earnings Results （FY2025 Results） [Processed Food Division] Ordinary profit factors billion yen Q3(YTD) Q4 Year FY2025 Variance Analysis Year Main Factors results results results change FY2024 from [Quantity] 8.8 0.9 9.7 prev. - Sales volume declined due to weak consumer demand. Ordinary profit (

  8. Slide 8: Processed Food Division Market Share and Growth

    Data：QPR 01 Earnings Results （FY2025 Results） Ham & Sausage [Processed Food Division] Share 22.4% (+0.3%) Sales Growth Rate(Our Company) Our Company +0.5% Growth Rate of Purchases Market -0.1% per 100 People Growth rates by category and product for key Wiener Ham & Bacon CH Cooked Chicken CH Pizza &

  9. Slide 9: Processed Food Division Consumer/Commercial Growth

    01 Earnings Results （FY2025 Results） Consumer／Commercial company performance growth rate （volume/amount） Ham & Sausage Cooked Foods Total [Processed Food Division] Our growth rate ・B2C / B2B (volume / amount） ・External environment data Domestic distribution data （Domes/Import） MIC Survey(Apr.-May)（

  10. Slide 10: Meat Division FY2025 Results

    01 Earnings Results （FY2025 Results） [Meat Division] Segment Info FY2025 full year results billion yen % Year-on-Year Previous forecast Amount Change FY2025 Results of sales Change Change% Rev 5-Feb (1Q)100％ 横12.73 縦3.22 Revenue and profit growth Sales 672.8 (2Q~)85％横11.03、縦3.42 - +84.9 +14.4% 646.0

  11. Slide 11: Meat Division Ordinary Profit Factors

    01 Earnings Results （FY2025 Results） [Meat Division] Ordinary profit factors billion yen Q3(YTD) Q4 Year Year Main Factors FY2025 Variance Analysis results results results change from FY2024 10.1 2.2 12.3 prev. [Unit Price] Ordinary profit (Ordinary Profit YoY : +10.3B) - Domestic pork: Improved pro

  12. Slide 12: Meat Division Sales Performance and Market Data

    01 Earnings Results （FY2025 Results） Domestic/Imported Growth rate ％ [Meat Division] Results(excl. ANZCO) MIC Survey(Apr.-Feb.) Purchase Volume Amount Expenditure QTY Sales Performance Beef Domestic -2.0 +2.7 -1.5 +0.7 Imported -1.2 +0.1 ・Growth rate by livestock Pork Domestic -2.2 +0.0 +3.7 +6.1 ca

  13. Slide 13: Full Year Forecast for FY2026

    01 Earnings Results ・Full Year Results for FY2025 4 ・Full Year Forecast for FY2026 14 02 Supplemental Data 23 03 Appendix 33 Note: The financial information disclosed by Japanese GAAP and FY2026 shows from Apr 1, 2026 to March 31, 2027. This material is rounded off to second decimal places. Therefor

  14. Slide 14: Consolidated FY2026 Forecast

    01 Earnings Results （FY2026 Forecast） [Consolidated] FY2026 full year financial earnings forecast billion yen % Year-on-Year FY2026 Full-Year Forecast Amount of sales Change Change% Decline in revenue and profit Sales 1,040.0 - -31.4 -2.9% Sales : -31.4B Operating Ordinary Profit Net Income : - 2.4B

  15. Slide 15: Consolidated FY2026 Ordinary Profit Variance Analysis

    01 Earnings Results （FY2026 Forecast） +0.6 -3.1 billion yen [Consolidated] 経常利益増減分析 FY2026 Full-Year Forecast YoY 経営統合後のシナジー発現に • Variance Factors 伴い、稼ぐ力が着実に向上、 当社の強みは Processed Food : +0.6B Meat安定した基礎収益力と認識 : - 3.1B Ordinary Ordinary 稼ぐ力を原資に成長投資を実行、 Profit • 30.4 Profit 2035年度で経常利益500億円を 28.0 目指す b

  16. Slide 16: Processed Food Division FY2026 Forecast

    01 Earnings Results （FY2026 Forecast） [Processed Food Division] Segment Info FY2026 full year financial earnings forecast billion yen % Year-on-Year Amount FY2026 Full-Year Forecast of sales (1Q)100％ 横12.73 縦3.22 Change Change% Sales (2Q~)87％横11.76、縦3.42- 410.0 +11.4 +2.9% Forecast Revenue and Profi

  17. Slide 17: Processed Food Division FY2026 Variance Analysis

    01 Earnings Results （FY2026 Forecast） [Processed Food Division] Ordinary profit factors billion yen H1 H2 Year Main Factors Full-Year Forecast for Forecast Forecast Forecast FY2026 – Variance Analysis FY2025 Ordinary profit 3.9 5.5 9.4 [Quantity] - A rebound from last year’s volume decline, with a f

  18. Slide 18: Meat Division FY2026 Forecast

    01 Earnings Results （FY2026 Forecast） [Meat Division] Segment Info FY2026 full year financial earnings forecast billion yen % Year-on-Year Amount FY2026 Full-Year Forecast of sales Change Change% Decline in revenue and profit Sales 630.0 - -42.8 -6.4% Meat Operating Division profit 18.5 2.9% -2.9 -1

  19. Slide 19: Meat Division FY2026 Variance Analysis

    01 Earnings Results （FY2026 Forecast） [Meat Division] Ordinary profit factors billion yen H1 H2 Year Main Factors Full-Year Forecast for FY2025 Forecast Forecast Forecast FY2026 – Variance Analysis Ordinary profit 10.5 12.1 22.6 ［Quantity］ - Continued strict position management. Sales Volume - -0.2

  20. Slide 20: ANZCO Foods Market Trends

    01 Earnings Results （ANZCO Foods） ※MLA Comparison of the change in accounting period impact Transition of beef 90CL price : US and imported from NZ ( FY2024: Jan-Dec 2024 , FY2025: Jan-Dec 2025 + Jan-Mar 2026 ) [Meat Division] Market Trends (ANZCO) Transition of beef FOB and procurement price in NZ

  21. Slide 21: Shareholder Returns

    *Incl. commemorative dividend 01 Earnings Results * * DPR Shareholder Returns Shareholder Returns DOE FY2026 (Forecast) Commemorative 10th anniversary DPS: JPY155 commemorative dividend (Interim :75, Year-end dividend: 80) DPS DOE 3.2% and Ordinary Progressive dividend (+¥10) Fiscal Year ※1-for-5 re

  22. Slide 22: Supplemental Data

    01 Earnings Results ・Full Year Results for FY2025 4 ・Full Year Forecast for FY2026 14 02 Supplemental Data 23 03 Appendix 33 Note: The financial information disclosed by Japanese GAAP and FY2026 shows from Apr 1, 2026 to March 31, 2027. This material is rounded off to second decimal places. Therefor

  23. Slide 23: Income Statement

    02 Supplemental Data Results Sale of each country and region billion yen billion yen Income Statement FY2024 FY2025 FY2024 FY2025 Q4 Q4 Change Q4 Q4 Change Sales 988.8 1,071.4 +82.6 Sales 988.8 1,071.4 +82.6 COGS 855.5 924.9 +69.4 Japan 839.9 858.7 +18.9 Gross Profit 133.3 146.5 +13.2 Overseas Total

  24. Slide 24: SG&A Expenses and Non-operational Gain/Loss

    02 Supplemental Data SG & A Expenses Non-operational Gain/Loss billion yen billion yen SG & A Expenses FY2024 FY2025 FY2024 FY2025 Non-operational G/L Q4 Q4 Change Q4 Q4 Change Non-Operational G/L 1.2 1.9 +0.8 Sales 988.8 1,071.4 +82.6 Non-controlling 1.2 1.7 +0.5 Selling, General and interests 113.

  25. Slide 25: Balance Sheet

    02 Supplemental Data Total Assets billion yen Balance Sheet 524.7 (+57.7) billion yen Current Assets +34.2 Liabilities +48.5 Cash and Term Deposits -3.0 Liabilities Trade notes/Payables +8.6 Receivables +9.0 Current Assets 229.2 Short Term Debts +19.3 Inventories +28.8 311.4 Long Term Debts +9.9 Net

  26. Slide 26: Cash Flow Statement

    02 Supplemental Data Movements in free cash flow billion yen billion yen Cash Flow FY2024 FY2025 Statement Q4 Q4 Change ①Cash Flow from Operation 10.0 13.7 +3.6 Income Before Taxes 19.3 29.6 +10.3 Depreciation & Equity in Depreciation & Amortization of goodw ill 14.6 15.3 +0.7 2024 Amortization earn

  27. Slide 27: Results by Product Category

    決算補足データData 03 Supplemental 02 商品分類別実績 Results by billion yen Product Category Consolidated Processed Food Div. Meat Div. FY2024 FY2025 FY2024 FY2025 FY2024 FY2025 Q4 Q4 change Q4 Q4 change Q4 Q4 change Sales 988.8 1,071.4 +82.6 400.9 398.6 -2.3 587.9 672.8 +84.9 Ham & Sausage 187.6 187.5 -0.1 174.8

  28. Slide 28: Growth Rates by Category and Product

    Data：QPR 02 決算補足データData 03 Supplemental FY2024 FY2025 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Share(%) 22.0 21.9 22.6 21.7 22.5 22.4 23.2 21.4 Ham & Sausage YoY +1.0 +1.2 +0.4 +0.4 +0.5 +0.6 +0.6 -0.3 Sales Growth Rate +1.4 +3.1 +0.3 +1.8 +3.2 -0.0 -1.1 +0.2 Share(%) 20.6 20.4 19.9 19.9 21.0 20.8 20.2 19.6 商品分類別実績

  29. Slide 29: Quarterly Results Details

    02 決算補足データData 03 Supplemental billion yen Q1 Q2 Q3 Q4 Apr - Jun Jul - Sep Oct - Dec Jan - Mar FY2024 FY2025 FY2024 FY2025 FY2024 FY2025 FY2024 FY2025 Change Change Change Change 商品分類別実績 results results results results results results results results FY2025 Sales 235.8 297.1 +61.3 255.1 245.3 -9.9 2

  30. Slide 30: Profit Change Analysis Trends

    02 決算補足データ 03 Supplemental Data billion yen Processed Food Div. H1 H2 Year results Rev 4-Nov. Rev 5-Feb. results Rev 4-Nov. Rev 5-Feb. results FY2024 Ordinary profit 3.9 5.8 5.8 5.8 9.7 9.7 9.7 Profit Change Sales Volume Gross Margin,SG&A -1.4 +5.3 +1.2 - -0.5 +1.6 -1.2 +1.8 -1.4 +6.5 -1.9 +6.9 -2.6

  31. Slide 31: FY2026 Forecast Details

    billion yen 02 決算補足データ 03 Supplemental Data H1 H2 Year FY2025 FY2026 FY2025 FY2026 FY2025 FY2026 Change Change Change results F'cast results F'cast results F'cast Rev 1-May Rev 1-May Rev 1-May Sales 542.4 510.0 -32.4 529.0 530.0 +1.0 1,071.4 1,040.0 -31.4 FY2026 Operating profit 13.2 13.8 +0.6 15.3

  32. Slide 32: Appendix

    01 Earnings Results ・Full Year Results for FY2025 4 ・Full Year Forecast for FY2026 14 02 Supplemental Data 23 03 Appendix 33 Note: The financial information disclosed by Japanese GAAP and FY2026 shows from Apr 1, 2026 to March 31, 2027. This material is rounded off to second decimal places. Therefor

  33. Slide 33: Overseas Markets

    03 Appendix Pork Carcass - Spain Picnic - USA Overseas Markets 95％ ４つまとめて貼り付 け Pork Bellies - USA Loin - USA Copyright © 2026 ITOHAM YONEKYU HOLDINGS INC. All rights reserved. 33

  34. Slide 34: CPI Index

    03 Appendix Beef Chicken CPI Index Pork Processed Meat Copyright © 2026 ITOHAM YONEKYU HOLDINGS INC. All rights reserved. Date：Ministry of Internal Affairs and Communications 34

  35. Slide 35: Ham & Sausage Supply

    03 Appendix Domestic Production Imports Ham & Sausage Supply Apr.-Feb. 【Domestic】 YoY -1.9% FY2024 457,967 ton FY2025 449,375 ton 【Import】 YoY -4.9% FY2024 29,826 ton FY2025 28,379 ton (ton) Apr. May Jun. Jul. Aug. Sep. Oct. Nov. Dec. Jan. Feb. Mar. Year 【Total】 YoY -2.1% Domestic FY2024 Volume 44,8

  36. Slide 36: Ham/Sausage Domestic Market Share

    Date：QPR 03 Appendix ham/sausage domestic market ham/sausage domestic market Our share Value per 100 monitors year-on-year Average price year-on-year Ham/Sausage Domestic Market Share 【 Share 】 Apr.-Mar. Last year 22.1％ This year 22.4％ YoY +0.3％ Apr. May Jun. Jul. Aug. Sep. Oct. Nov. Dec. Jan. Feb.

  37. Slide 37: Wiener Domestic Market Share

    Date：QPR 03 Appendix Wiener domestic market Wiener domestic market Our share Value per 100 monitors year-on-year Average price year-on-year Wiener Domestic Market Share 【 Share 】 Apr.-Mar. Last year 20.2％ This year 20.4％ YoY +0.2％ Apr. May Jun. Jul. Aug. Sep. Oct. Nov. Dec. Jan. Feb. Mar. Year 【shar

  38. Slide 38: Slice Pack of Ham, Bacon, etc. Domestic Market

    Date：QPR 03 Appendix Our share Slice pack of ham, bacon, etc. domestic market Slice pack of ham, bacon, etc. domestic market Value per 100 monitors year-on-year Average price year-on-year Slice Pack of Ham, Bacon, etc. Domestic Market Share 【 Share 】 Apr.-Mar. Last year 21.8％ This year 22.5％ YoY +0.

  39. Slide 39: Pizza/Snacks Domestic Market Share

    Date：QPR 03 Appendix Our share Pizza/Snacks domestic market Pizza/Snacks domestic market Value per 100 monitors year-on-year Average price year-on-year Pizza/Snacks Domestic Market Share 【 Share 】 Apr.-Mar. Last year 33.8％ This year 33.6％ YoY -0.2％ Apr. May Jun. Jul. Aug. Sep. Oct. Nov. Dec. Jan. Fe

  40. Slide 40: Hamburger steak/Meatball Domestic Market

    Date：QPR 03 Appendix Our share Hamburger steak/Meatball domestic market Hamburger steak/Meatball domestic market Value per 100 monitors year-on-year Average price year-on-year Hamburger steak/ Meatball Domestic Market Share 【 Share 】 Apr.-Mar. Last year 14.2％ This year 13.4％ YoY -0.8％ Apr. May Jun.

  41. Slide 41: Processed Chicken Food Domestic Market

    Date：QPR 03 Appendix Our share Processed chicken food domestic market Processed chicken food domestic market Value per 100 monitors year-on-year Average price year-on-year Processed Chicken Food Domestic Market Share 【 Share 】 Apr.-Mar. Last year 21.9％ This year 21.6％ YoY -0.2％ Apr. May Jun. Jul. Au

  42. Slide 42: Marketed Volume/Ending Stock/Market Price (Beef)

    03 Appendix Estimated Marketed Volume Estimated Marketed Volume Estimated Ending Stock (Imported) (Domestic) (Imported) ※including meat for processed products ※including meat for processed products ※including meat for processed products Marketed Volume/ Ending Stock/ Market Price (Beef) ※including m

  43. Slide 43: Marketed Volume/Ending Stock/Market Price (Pork)

    03 Appendix Estimated Marketed Volume Estimated Marketed Volume Estimated Ending Stock (Imported) (Domestic) (Imported) ※including meat for processed products ※including meat for processed products ※including meat for processed products Marketed Volume/ Ending Stock/ Market Price (Pork) Domestic Por

  44. Slide 44: Marketed Volume/Ending Stock/Market Price (Chicken)

    03 Appendix Estimated Marketed Volume Estimated Marketed Volume Estimated Ending Stock (Imported) (Domestic) (Imported) ※including meat for processed products ※including meat for processed products ※including meat for processed products ※bone-in meat base Marketed Volume/ Ending Stock/ Market Price

  45. Slide 45: FY2026 Q1 results schedule and contact information

    FY2026 Q1 results Scheduled Disclosure : Mon, Aug 3, 2026 Contact Information ALT ITO Bldg. 1-6-21, MITA, MEGURO-KU, TOKYO , 153-8587, JAPAN ITOHAM YONEKYU HOLDINGS INC. Public & Investor Relations Office TEL : +81-3-5723-6892 You can also contact us from the company website. https://www.itoham-yone

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