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Kewpie
Kewpie (2809) investor relations material
Kewpie Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary14 Jan, 2026
Executive summary
Achieved record-high operating income of ¥34.6bn in FY2025, driven by swift price revisions in Japan and double-digit overseas growth, despite higher-than-expected costs and consumer budget-mindedness.
Net sales rose 6.1% year-over-year to ¥513.4bn, with strong contributions from the Americas, Asia-Pacific, and domestic recovery in egg products and cut vegetables.
ROE improved to 9.7%, up 2.4 percentage points year-over-year.
Management focused on capital efficiency, including treasury share acquisitions, dividend increases, and a major acquisition.
Challenging environment persisted due to high raw material costs, especially eggs and vegetables.
Financial highlights
Operating income: ¥34.6bn (+0.9% YoY); Ordinary income: ¥37.4bn (+1.4% YoY); Net profit: ¥30.5bn (+42.4% YoY, including gain on sale of factory site).
Gross profit improved to ¥150.9bn; EPS: ¥220.63 (+43% YoY); comprehensive income grew 41.7% to ¥43.8bn.
Cash and cash equivalents at year-end decreased to ¥65.8bn, down ¥14.7bn.
Domestic business profit margin: 6.6% (down 0.7pp YoY); Overseas growth rate: +8% in local currency.
ROIC: 6.6% (down 0.2pp YoY).
Outlook and guidance
FY2026 targets: Net sales ¥530.0bn (+3.2% YoY), operating income ¥38.0bn (+9.7% YoY), ordinary income ¥40.0bn (+7% YoY), profit ¥25.5bn (-16.4% YoY due to absence of one-time gains).
ROE expected at 8.0% (down 1.7pp YoY); overseas sales growth rate +11% in local currency.
Dividend to increase by ¥11 to ¥65 per share, including a commemorative portion; treasury share acquisition of ¥10.0bn planned.
Focus on accelerating overseas growth, domestic structural reforms, and digital transformation.
Domestic segment profitability improvement strategy
FY2025 cash flow drivers and capital allocation
Why is FY2026 net profit forecast to decline?
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Next Kewpie earnings date
Q1 20262 Apr, 2026
Kewpie
Next Kewpie earnings date
Q1 20262 Apr, 2026
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Frequently asked questions
Kewpie Corporation is a food processing company known for its diverse array of condiments, processed foods, health function products, delicatessen food products, egg products, fine chemicals, salads, and prepared foods. The company's product portfolio includes mayonnaise, dressings, baby foods, jams, fruit spreads, mustards, and sauces, catering to a wide range of consumer preferences. Kewpie also focuses on providing nutritional supplement foods and nursing care products under well known brand names such as Aohata, Snowman, and Kewpie.
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