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Kewpie (2809) investor relations material
Kewpie Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Net sales rose 3.9% year-over-year to ¥261.6bn for 1H FY2026, driven by strong domestic and Asia-Pacific sales and successful price revisions.
Operating income increased 24% year-over-year to ¥20.0bn, reflecting higher domestic sales, a shift to value-added products, and improved supply chain efficiency.
Profit attributable to owners declined 29.7% year-over-year to ¥13.2bn due to the absence of prior-year extraordinary gains.
Overseas sales rebounded, especially in Asia-Pacific, while domestic growth was supported by value-added products and price revisions.
Full-year outlook maintained, targeting ¥530.0bn in net sales and ¥38.0bn in operating income.
Financial highlights
Net sales: ¥261.6bn (+4% YoY); operating income: ¥20.0bn (+24% YoY); ordinary income: ¥21.5bn (+23% YoY).
Gross profit increased to ¥79.6bn from ¥73.5bn YoY.
EPS: ¥95.95 (down from ¥135.27 YoY); profit attributable to owners: ¥13.2bn (-30% YoY, due to prior-year gain on factory sale).
Comprehensive income rose 5.0% YoY to ¥20.8bn.
Cash and cash equivalents at period end were ¥61.9bn, down ¥4.0bn from the previous year-end.
Outlook and guidance
FY2026 full-year targets: net sales ¥530.0bn (+3% YoY), operating income ¥38.0bn (+10% YoY), ordinary income ¥40.0bn (+7% YoY), profit ¥25.5bn (-16% YoY).
ROE forecast at 8.0% (-1.7% YoY); ROIC at 7.1% (+0.5% YoY).
Annual dividend forecast is ¥65.00 per share.
Overseas net sales growth rate expected at +9% YoY in local currency.
- Sales and operating income rose, but net profit fell on lack of one-time gains; outlook steady.2809
Q1 20269 Apr 2026 - Record-high profit, strong overseas growth, and asset gains drive outlook for further expansion.2809
Q4 202514 Jan 2026 - Net sales and profit attributable to owners of parent increased, with strong segment growth.2809
Q3 20252 Oct 2025 - Net sales and net income rose, with AOHATA to become a wholly owned subsidiary via share exchange.2809
Q2 20253 Jul 2025 - Operating income more than doubled and net income soared 78.3% year-over-year.2809
Q3 202413 Jun 2025 - Operating income and profit more than doubled year-over-year, driving a strong outlook.2809
Q2 202413 Jun 2025 - Net profit more than doubled in Q1 FY2025, driven by extraordinary gains.2809
Q1 20256 Jun 2025 - FY2024 profit surged 62.6% with robust outlook and higher dividends planned.2809
Q4 20245 Jun 2025
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