Kewpie (2809) Q1 2026 earnings summary

Executive summary

• Net sales rose 3.9% year-over-year to ¥124,704 million for the first quarter, driven by domestic price revisions and strong egg product sales, with overseas growth in Asia-Pacific offsetting a temporary decline in the Americas.

• Operating income increased 35.0% year-over-year to ¥7,810 million, reflecting higher domestic sales, a shift to high value-added products, and improved supply chain efficiency.

• Profit attributable to owners of parent fell 57.8% year-over-year to ¥5,392 million due to the absence of extraordinary gains from asset sales recorded in the prior year.

Financial highlights

• Gross profit improved to ¥36,879 million from ¥34,084 million year-over-year.

• Ordinary income rose 33.1% year-over-year to ¥8,680 million.

• Comprehensive income decreased 20.2% year-over-year to ¥12,716 million.

• Earnings per share for the quarter were ¥38.96, down from ¥91.92 in the prior year.

Outlook and guidance

• Full-year forecast remains unchanged: net sales of ¥530,000 million (+3.2%), operating income of ¥38,000 million (+9.7%), ordinary income of ¥40,000 million (+7.0%), and profit attributable to owners of parent of ¥25,500 million (+16.4%).

• Annual dividend forecast is ¥65.00 per share, up from ¥64.00, with no revision to the previously announced guidance.