FP Corporation (7947) Q4 2025 earnings summary

Executive summary

• FY2025 net sales reached a record ¥235,628m, up 6.1%; operating profit rose 12.4% to ¥18,471m and profit attributable to owners of parent increased 6.5% to ¥12,486m.

• Record sales and profit reflected price revisions, higher product volumes, and strong demand for weight-reduced and eco-friendly products.

Financial highlights

• Ordinary profit was ¥18,451m, up 10.0% YoY; it exceeded forecast by ¥451m, supported by supplier cost negotiations.

• Product sales rose 5.3% to ¥180,770m; goods sales increased 8.7% to ¥54,858m, including the effects of APEX Corporation’s M&A.

• Product price revisions contributed ¥7.12bn and quantity/product-mix improvement ¥0.84bn to ordinary profit; labor, freight and other costs partly offset gains.

• Gross profit increased to ¥73,071m from ¥67,085m, while SG&A rose to ¥54,600m from ¥50,656m.

Outlook and guidance

• FY2026 forecast: net sales ¥245,300m (+4.1%), operating profit ¥19,790m (+7.1%), ordinary profit ¥19,600m (+6.2%) and parent-attributable profit ¥13,170m (+5.5%).

• FY2026 ordinary profit assumptions include ¥5.50bn from product price revisions and ¥1.01bn from quantity/product-mix improvement; labor, electricity, freight and production costs are expected to weigh on results.

• FY2026 product quantity is projected to rise 2%; growth is expected in eco-friendly and weight-reduced products, and frozen-food, hospital-food and nursing-care markets.

• FY2026 annual dividend is planned at ¥61.50 per share, with a 37.8% payout ratio; progressive-dividend policy targets a 40% payout ratio.

• FY2026 EPS forecast is ¥162.89; H1 forecasts are sales ¥121,000m, operating profit ¥7,630m, ordinary profit ¥7,600m and parent-attributable profit ¥5,010m.