Translation Notice: This document is a full text translation of the original Japanese document and is only for reference purposes. In the event of any discrepancy between this translated document and the original Japanese document, the latter shall prevail.
Financial Highlights Material for the First-Half Period Ending May 2025
Six months period ended Nov 2024
January 21, 2025
Sakata Seed Corporation
© SAKATA SEED CORPORATION 2025
Table of contents
1. | Overview of the First-Half Period Ending May 2025 | 3～15 |
2. | Forecast for Period Ending May 2025 and Dividend Policy | 16～22 |
3. | Action for Global Growth | 23～47 |
4. | Appendix | 48～52 |
This document includes English translations only for sections 1, 2, and 4. '3. Action for Global Growth' is not included in this material. The English translation including '3. Action for Global Growth' is scheduled to be released in late February.
© SAKATA SEED CORPORATION 2025 | 2 |
1. Overview of First half results for
the period Ending May 2025
© SAKATA SEED CORPORATION 2025 | 3 |
Performance overview for the First-Half of period ending May 2025 （Consolidated）
Compared to the previous year, revenue increased and net profit increased significantly
Unit: million yen
Forecast of 2025
Nov./2023 | Nov./2024 | Difference Difference(%) | Announced July 2024 | ||||||
Sales | 40,872 | 42,325 | 1,452 | 3.6% | 45,000((2,674)) | ||||
Gross profit | 24,895 | 27,417 | 2,522 | 10.1% | - | ||||
Gross profit margin（％） | 60.9% | 64.8% | - | - | - | ||||
R&D expenses | 5,011 | 5,135 | 123 | 2.5% | - | ||||
Ratio against sales （％） | 12.6% | 12.3% | - | - | - | ||||
Other SGA expenses | 14,591 | 16,609 | 2,017 | 13.8% | - | ||||
Operating profit | 5,292 | 5,672 | 380 | 7.2％ | 5,200(＋472) | ||||
Ordinary profit | 5,698 | 5,650 | (48) | (0.8)% | 5,000(＋650) | ||||
Net profit | 3,226 | 5,123 | 1,897 | 58.8% | 3,500(＋1,623) | ||||
Exchange rates for overseas subsidiaries | |||||||||
Yen / USD (¥) | 150 | 143 | (7) | Impact of FX | 150((7)) | ||||
Yen / EUR (¥) | 158 | 160 | ＋2 | (619) | 160((0)) | ||||
© SAKATA SEED CORPORATION 2025 | 4 |
Results for the First-Half of period ending May 2025 （Net profit）
Significant increase in net profit due to sales of US properties
Unit: million yen
Nov./2023
Net profit
Gross Profit
SGA
expenses
Non-operating profit
Extraordinary
profit
Corporate tax, etc.
Nov./2024
Net profit
1,000 | 2,000 | 3,000 | 4,000 | 5,000 |
3,226
5,123
Main factors causing | |
change in net profit | |
＋2,522 | Increase in sales and |
gross profit margin ratio | |
(2,141) | Increase in |
personnel expenses | |
(428) | Worsening foreign exchange |
gain/loss |
＋2,020 | Recorded gain on sales |
of non-current assets | |
(75) |
＋1,897
© SAKATA SEED CORPORATION 2025 | 5 |
Results for the First-Half of period ending May 2025 （By business segment）
Domestic wholesales: increase in sales but decrease in profit
Overseas wholesales: increase in sales and profit
Unit: million yen
Domestic wholesale Overseas wholesale
Retail sales
Other
(Landscaping & Garden Construction etc.)
Subtotal
Elimination
Sales | Operating profit | ||||||
Nov./23 | Nov./24 | Difference | Difference(%) | Nov./23 | Nov./24 | Difference | Difference(%) |
5,981 | 6,138 | 157 | 2.6% | 2,487 | 2,388 | (99) | (4.0)％ |
31,018 | 32,364 | 1,346 | 4.3% | 8,274 | 8,562 | 287 | 3.5％ |
2,064 | 1,872 | (192) | (9.3)% | (240) | (247) | (7) | － |
1,808 | 1,949 | 141 | 7.8% | 80 | 117 | 36 | 45.4％ |
40,872 | 42,325 | 1,452 | 3.6% | 10,602 | 10,820 | 217 | 2.1％ |
－ | － | － | － | (5,310) | (5,147) | 162 | － |
Total
40,872 42,325 1,452 3.6%
5,292 5,672 380 7.2％
© SAKATA SEED CORPORATION 2025 | 6 |
Results for the First-Half of period ending May 2025 （Sales by product）
Significant increase in vegetable seeds, increase in flower seeds
Nov./2023
Sales
Vegetable seeds
Flower seeds
Young plants
Bulbs
Materials
Others
Nov./2024
Sales
Unit: million yen | |||||||||||||
39,000 | 40,000 | 41,000 | 42,000 | Main factors causing | |||||||||
40,872 | |||||||||||||
changes in sales | |||||||||||||
＋1,409 | Increase in Broccoli, Tomato, | ||||||||||||
Squash,Watermelon etc. | |||||||||||||
＋57 | Increase in Sunflower, | ||||||||||||
Lisianthus, Pansy etc. | |||||||||||||
(105) | |||||||||||||
Decrease due to the closing of | |||||||||||||
(24) | Garden Center Yokohama, | ||||||||||||
retail store | |||||||||||||
(49) | |||||||||||||
＋163 | Increase in | ||||||||||||
landscaping & garden construction | |||||||||||||
＋1,452 | |||||||||||||
42,325 | |||||||||||||
© SAKATA SEED CORPORATION 2025 | 7 |
Results for the First-Half of period ending May 2025
（Sales by customers' region）
Increase in Japan, Europe & Middle East and South America
35000
Nov./2023
Sales
Japan
North &
Central
America
Europe &
Middle East
South
America
Asia
Others
Nov./2024
Sales
Unit: million yen
37000390004100043000
40,872 | ||||||
＋106 | ||||||
(530)（FX impact (384)） | ||||||
＋1,555 | （FX impact +33） | |||||
＋893 | （FX impact (485)） | |||||
(911)（FX impact +139） | ||
＋339 （FX impact +78） | ||
42,325 | ＋1,452 | |
Main factors causing
change in sales
increase in vegetable seeds
Decrease in Mexico due to
weather conditions
Significant increase in both vegetable and
flower seeds in local currencies
Significant increase in both vegetable and flower seeds in local currencies
Increase due to acquisition of Isla
Decrease carrot sales due to the
worsening market conditions in China
Impact of FX
(619)
© SAKATA SEED CORPORATION 2025 | 8 |
Sales by region for the First-Half of period ending May 2025 (1)
[Japan] Increase in vegetable seed sales and landscaping & garden construction
Unit: million yen
Nov./2022
Nov./2023
Nov./2024
10,015
9,854
(64) (37) (26) (66) (65) | ＋99 |
9,960
＋132 (14) (100) | (23) (47) | ＋160 |
(161)
（(1.6)% ）
＋106
（＋1.1％)
■ Vegetable seeds ■ Flower seeds ■ Young Plants ■ Bulbs ■ Materials ■ Other
Top Product by Y o Y Change | Top Product by Y o Y Change | |||||
in Vegetable Seeds | in Flowers Seeds | |||||
Broccoli | ＋109 | Sunflower | (4) | |||
Cabbage | ＋37 | Marigold | (3) | |||
Tomato | ＋29 | Pansy | ＋2 | |||
Bunching onion | (28) | Stock | (2) | |||
© SAKATA SEED CORPORATION 2025 | 9 |
Sales by region for the First-Half of period ending May 2025 (2)
[North and Central America] Decrease in both vegetable and flower seeds
Nov./2022
Nov./2023
Nov./2024
Unit: thousand dollars
46,504 | 9,432 | 55,936 |
47,287 | 10,578 | 57,866 | +1,930 |
（+3.5%） | |||
47,080 | 9,807 | 56,888 | (978) | |||||||
（(1.7)％） | ||||||||||
■ Vegetable seeds ■ Flower seeds-other | ||||||||||
Top Product by Y o Y Change | Top Product by Y o Y Change | |||||||||
in Vegetable Seeds | in Flowers Seeds | |||||||||
Watermelon | ＋1,532 | Campanula | (385) | |||||||
Pepper | (1,351) | Snapdragon | ＋195 | |||||||
Melon | (537) | Pansy | ＋185 | |||||||
Tomato | ＋499 | Zinnia | ＋175 | |||||||
© SAKATA SEED CORPORATION 2025 | 10 |