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Morinaga&Co (2201) investor relations material
Morinaga&Co Q1 2027 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q1 FY2027 net sales reached a record ¥63.617bn, up 5.6% YoY, led by U.S. growth following the MyMo Holdco acquisition; operating income fell 13.7% to ¥6.123bn.
Overseas sales rose 47.8% to ¥12.007bn, reaching 18.9% of consolidated sales; acquisition-related expenses and higher costs weighed on profit.
Profit attributable to owners of parent declined 11.7% YoY to ¥4.458bn.
Financial highlights
Gross profit rose 6.6% YoY to ¥26.533bn; SG&A increased 14.8% to ¥20.410bn.
Ordinary income fell 13.7% to ¥6.214bn; EBITDA was ¥9.0bn, down ¥0.5bn YoY.
Comprehensive income was ¥5.297bn versus ¥3.041bn a year earlier, including ¥1.062bn in foreign currency translation adjustments.
Outlook and guidance
FY ending March 2027 guidance unchanged: net sales ¥257.0bn, operating income ¥22.8bn, ordinary income ¥22.2bn, parent profit ¥16.5bn and EPS ¥196.03.
Annual dividend forecast unchanged at ¥70 per share: ¥35 interim and ¥35 year-end.
No revision to first-half forecasts; the full-year Middle East impact is estimated at ¥1.5–2.0bn, with developments under review.
- Q1 earnings rose on U.S. growth and price revisions; FY2024 guidance was unchanged.2201
Q1 2024 - Record first-half sales lifted guidance, while second-half investment is expected to weigh on profit.2201
Q2 2024 - Record 9M sales and higher margins lifted full-year forecasts and the dividend.2201
Q3 2024 - Record FY2023 sales and profit growth, with FY2024 growth forecast amid cost headwinds.2201
Q4 2024 - Q1 sales rose 11.4%; a US$136 million U.S. factory will expand HI-CHEW capacity.2201
Q1 2025 - Record H1 sales and higher FY2025 guidance despite cost-pressured operating income.2201
Q2 2025 - 9M sales grew 7.8%, but raw-material inflation pressured earnings; FY2025 forecasts held.2201
Q3 2025 - FY2025 sales hit a record, while cacao inflation and cash outflows tempered gains.2201
Q4 2025 - H1 operating income fell 3.7%, but FY2026 operating-income guidance rose to ¥22.3bn.2201
Q2 2026 - Core sweets growth and MyMo expansion offset by near-term acquisition costs.2201
Q4 2026
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