Kikkoman (2801) Q3 2025 earnings summary

Executive summary

• Revenue for the nine months ended December 31, 2024, rose 8.2% year-over-year to ¥535,515 million, with strong sales growth in both Japan and overseas.

• Business profit increased 6.2% to ¥63,055 million, and operating profit surged 17.1% to ¥62,480 million year-over-year.

• Profit attributable to owners of the parent grew 12.8% to ¥51,329 million, with basic EPS at ¥53.97 (post stock split basis).

• All major business segments, including Domestic Foods, Overseas Foods Manufacturing and Sales, and Overseas Foods Wholesale, reported year-over-year revenue growth.

Financial highlights

• Gross profit increased to ¥183,472 million from ¥172,803 million year-over-year.

• Total assets rose to ¥693,673 million, and equity attributable to owners of the parent increased to ¥525,466 million, with an equity ratio of 75.8%.

• Depreciation and amortization for the nine months totaled ¥19,997 million, up from ¥17,665 million the previous year.

• Cash dividends per share for FY2025 are estimated at ¥21.00 (post stock split), compared to ¥104.00 for FY2024 (pre-split).

Outlook and guidance

• Full-year revenue forecast for FY2025 is ¥695,700 million, up 5.3% year-over-year, with profit attributable to owners of the parent projected at ¥61,500 million, up 9.0%.

• No changes to previously announced forecasts; management notes that actual results may differ due to various risks.