Ifuji Sangyo (2924) Q2 2025 earnings summary

Executive summary

• H1 FY2025 revenue fell 15.9% YoY to ¥11,087m as lower egg prices reduced selling prices; operating income rose 24.9% to ¥1,523m, a record H1 result for the seventh consecutive year.

• Net income attributable to owners increased 0.8% YoY to ¥1,035m, a record H1 result for the second consecutive year.

Financial highlights

• Revenue was ¥11,087m, down 15.9% YoY; gross profit rose to ¥2,968m from ¥2,363m, while SG&A increased to ¥1,444m from ¥1,143m.

• Operating income increased 24.9% to ¥1,523m; ordinary income rose 22.9% to ¥1,534m.

• Net income attributable to owners was ¥1,035m, up 0.8% YoY; EPS was ¥125.21 versus ¥124.55.

• Comprehensive income was ¥1,036m versus ¥1,054m in the prior-year H1.

Outlook and guidance

• FY2025 guidance: revenue ¥24,651m (+0.6% YoY), operating income ¥2,568m (+45.5%), ordinary income ¥2,562m (+41.6%), net income ¥1,722m (+7.8%), EPS ¥208.32.

• Full-year forecast was revised based on H1 performance and the outlook; actual results may vary with future factors.

• FY2025 dividend forecast was revised to ¥53 per share, including ¥26 interim and ¥27 year-end, versus ¥48 for FY2024.