Fuji Oil Holdings (2607) Q2 2027 earnings summary

Executive summary

• H1 net sales fell 4.1% YoY to ¥360.5bn; business profit rose 38.0% to ¥20.8bn and profit attributable to owners of parent increased 50.4% to ¥12.5bn.

• Profit growth reflected lower cocoa-related costs at Blommer, stronger compound chocolate demand in Brazil and Asia, and higher soy-based ingredient volumes.

Financial highlights

• Operating profit rose 42.1% YoY to ¥19.3bn and profit before tax increased 54.4% to ¥16.8bn.

• Basic EPS was ¥145.19 versus ¥96.53 a year earlier; gross profit increased to ¥62.1bn from ¥52.3bn.

• Business profit benefited from a ¥4.7bn price factor and ¥1.4bn sales-volume factor; expenses and exchange rates had a ¥0.4bn negative impact.

• Comprehensive income declined 43.5% YoY to ¥8.1bn.

Outlook and guidance

• FY2027 forecast unchanged: net sales ¥754.0bn, business profit ¥37.5bn, owner-attributable profit ¥19.5bn and EPS ¥226.79.

• FY2027 annual dividend forecast remains ¥62 per share, versus ¥52 for FY2026.

• H1 performance exceeded expectations, primarily in Vegetable Oils and Fats and Soy-based Ingredients; Industrial Chocolate improved in Q2.

• H2 outlook factors in weak chocolate confectionery consumption in North America and Europe and possible selling-price adjustments for uncontracted CBE; Industrial Chocolate profitability is expected to improve as high-cost cocoa inventories deplete.