Suntory Beverage & Food (2587) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 FY2026 rose 11.2% year-over-year to ¥406.9 billion, driven by higher sales volumes of core brands, new products, and aggressive marketing investments.

• Revenue increased across Japan, Asia, Oceania, and the Americas, while Europe remained flat due to sluggish consumption in France.

• Group-wide operating income declined 0.2% year-over-year to ¥27.2 billion due to rising costs, increased marketing investments, and higher raw material and logistics expenses.

• Net income attributable to owners was ¥14.9 billion, a decrease of 3.2% year-over-year.

• Comprehensive income improved significantly to ¥23.5 billion from a loss of ¥12.6 billion in Q1 2025.

Financial highlights

• Revenue rose to ¥406.9 billion, up 11.2% year-over-year (6.1% currency neutral).

• Operating income was ¥27.2 billion, down 0.2% year-over-year (down 7.2% currency neutral).

• Net income attributable to owners was ¥14.9 billion, a decrease of 3.2% year-over-year (down 10.2% currency neutral).

• Gross profit for Q1 2026 was ¥148.8 billion, up from ¥138.7 billion in Q1 2025.

• Basic earnings per share was ¥48.28, down from ¥49.90 year-over-year.

Outlook and guidance

• Full-year 2026 revenue forecast is ¥1,826.0 billion (+6.4% year-over-year), with operating income of ¥155.0 billion (+4.2%).

• Net profit attributable to owners is forecast at ¥89.0 billion (+0.3%), with EPS of ¥288.03.

• Dividend forecast remains unchanged at ¥120 per share for FY2026.

• Despite ongoing uncertainty from geopolitical and economic factors, the company maintains its policy of expanding sales volume through proactive investments and aims to achieve its full-year earnings forecast.