Financial Results for FYE March 2026 (FY2025) (From April 1, 2025 to March 31, 2026) May 14, 2026
Contents
Executive Summary
Financial Summary for FY2025
Outlook for FY2026
Executive Summary
Consolidated operating profit for FY2025 exceeded the plan
Pharmaceutical segment contributed especially strongly, expected to remain a key growth driver
In Food segment, despite positive momentum such as sales volume growth in mainstay products and expansion of new products amid ongoing price increases, the failure to achieve the full-year plan is a significant point of reflection. In FY2026, management will place greater emphasis on delivering results with a strong focus on numerical targets
The China business in Food segment, previously a key challenge, has established a clear path toward fundamental structural reforms. Will aim to reach breakeven and accelerate the pace of transformation
Achievement of the initial targets set in the 2026 Medium-Term Business Plan expected to be difficult. In light of this reality, we will aim to achieve consolidated operating profit of JPY100.0 billion as a critical target
Even under uncertain business environment, including geopolitical risks and rising costs, we will pursue agile measures such as price increases, implement company-wide structural reforms, and take on new challenges to drive the next phase of growth
Overcome Current Challenges and Return to Sustainable Growth Trajectory
Under the challenging business environment, will execute all necessary transformations, accelerating efforts to resolve key issues
To accelerate the pace of change, we will share a strong awareness of issues and urgency across organization, while cultivating an organizational culture that is unafraid of transformation and actively takes on bold challenges
Will implement structural reforms of all scales, transforming our cost structure to one that enables sustainable growth
[Structural Reforms and Asset-light Initiatives]
Reconstruction of the Food segment production structure: Following the establishment of new plants in Hokkaido and Kanagawa, decided to close five existing plants
Discontinuation of production at Shikoku Meiji (Kagawa and Matsuyama plants)
Review of the vending machine business: The rental and leasing will be terminated by March 2027
Cash generated through these initiatives will be strategically allocated to shareholder returns and investments in growth areas. Aim for an early return to a growth trajectory and a swift recovery to ROE level of approximately 10%
Place ROE at Core of Management Indicator,
Pursuing Sustainable Enhancement of Corporate Value
ROE
12.2% 12.4% 11.1% 13.5% 10.0%7.1%
Restore ROE to
10% level at early stage
8.0%
6.9% 6.8% (excl. impact of impairment loss related to China business) 4.6%2020 Medium-Term Business Plan
2023 Medium-Term Business Plan
2026 Medium-Term Business Plan
FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 FY2026 Plan
Total payout ratio | 32.8% | 32.3% | 35.4% | 62.3% | 50.8% | 52.3% | 112.8% | 81.1% | 47.7% |
52.1%
(excl. impact of impairment loss related to China business)