Kewpie (2809) Q1 2025 earnings summary

Executive summary

• Net sales for Q1 FY2025 rose 4.7% year-over-year to ¥120,040 million, with profit attributable to owners of parent up 111.6% to ¥12,777 million.

• Operating income declined 29.0% year-over-year to ¥5,786 million, and ordinary income fell 26.3% to ¥6,519 million.

• Comprehensive income increased 162.0% year-over-year to ¥15,937 million.

Financial highlights

• Gross profit for Q1 FY2025 was ¥34,084 million, down from ¥34,866 million in the prior year.

• Earnings per share (EPS) for Q1 FY2025 was ¥91.92, up from ¥43.44 in Q1 FY2024.

• Extraordinary gains of ¥12,365 million, mainly from sales of fixed assets, contributed to higher net profit.

• Total assets as of February 28, 2025, were ¥454,629 million, with net assets at ¥342,962 million.

• Equity ratio improved to 68.8% from 65.4% at the end of the previous fiscal year.

Outlook and guidance

• FY2025 full-year net sales forecast at ¥505,000 million, up 4.3% year-over-year.

• Operating income projected at ¥29,200 million (up 0.5%), ordinary income at ¥34,500 million (up 0.7%), and profit attributable to owners of parent at ¥36,600 million (up 36.3%).

• Full-year EPS forecast is ¥210.07.

• Annual dividend per share forecast at ¥64.00, including a ¥10 commemorative dividend.