Suntory Beverage & Food (2587) Q4 2025 earnings summary

Executive summary

• FY2025 revenue increased 1.1% year-over-year to ¥1,715.4 billion, with growth in Europe, Japan, and the Americas, but a decline in Asia Pacific due to market challenges.

• Operating income declined 7.2% to ¥148.7 billion, mainly due to higher costs and lower Asia Pacific revenue.

• Net income attributable to owners fell 5.1% to ¥88.7 billion.

• Strategic initiatives advanced, including core brand innovation, new product launches, and global expansion.

• Investments in sustainability, production capacity, and digital transformation continued to strengthen foundations for future growth.

Financial highlights

• FY2025 revenue: ¥1,715.4 billion (+1.1% YoY); operating income: ¥148.7 billion (−7.2% YoY); net income: ¥88.7 billion (−5.1% YoY).

• Organic operating income (excluding non-recurring items): ¥156.7 billion (−6.6% YoY).

• FY2026 forecast: revenue ¥1,826.0 billion (+6.4% YoY), operating income ¥155.0 billion (+4.2% YoY), net income ¥89.0 billion (+0.3% YoY).

• Basic EPS: ¥287.13 (down from ¥302.57 YoY).

• Cash and cash equivalents at year-end: ¥148.7 billion (down ¥11.8 billion YoY).

Outlook and guidance

• FY2026 targets revenue growth of 6.4% and operating income growth of 4.2%, with continued focus on innovation, core brand enhancement, and global expansion.

• Strategic investments will be prioritized to drive volume expansion and value creation.

• Annual dividend for FY2026 planned at ¥120 per share, unchanged from FY2025.

• Focus on profitability, business transformation, and M&A for medium- to long-term growth.