Crops Corporation (9428) investor relations material

Executive summary

• H1 FY2027 revenue was ¥36,266 million, up 16.1% YoY; operating profit rose 37.5% to ¥1,951 million and ordinary profit rose 41.8% to ¥2,070 million.

• Profit attributable to parent shareholders was ¥981 million, versus a ¥20 million loss in H1 FY2026.

• Revenue was 97.1% of plan; operating income was 119.0%, ordinary income 125.2% and net income 141.3% of plan.

Financial highlights

• Gross profit rose to ¥10,050 million from ¥8,250 million; SG&A increased to ¥8,098 million from ¥6,830 million.

• Interim net income was ¥1,282 million, including ¥301 million attributable to non-controlling interests; comprehensive income was ¥1,341 million versus ¥170 million YoY.

• Operating cash flow was negative ¥395 million versus positive ¥1,912 million a year earlier; cash and cash equivalents ended at ¥10,152 million.

• Consolidated 2Q cumulative revenue and operating income were the highest in the historical series shown.

Outlook and guidance

• FY2027 guidance was unchanged: revenue ¥78,006 million, operating profit ¥3,820 million, ordinary profit ¥3,841 million and parent-attributable net income ¥1,855 million.

• FY2027 forecast EPS is ¥196.27; annual dividend guidance remains ¥32 per share, including a ¥0 interim dividend.

• Mobile communications FY2027 plan is revenue ¥36,226 million and operating income ¥1,120 million, versus FY2026 revenue ¥29,586 million and operating income ¥826 million.

• Guidance relies on current information and assumptions; actual results may differ materially.