T Hasegawa (4958) Q3 2025 earnings summary

Executive summary

• 9M FY2025 net sales rose 3.5% YoY to ¥54,548 million; operating profit, ordinary profit and net income fell 3.3%, 2.8% and 4.3%, respectively.

• Sales growth was led by the Flavor Division and overseas markets, while higher personnel costs and goodwill amortization weighed on operating profit.

Financial highlights

• Gross profit increased to ¥23,073 million from ¥22,073 million, while SG&A rose to ¥15,825 million from ¥14,579 million.

• Operating profit was ¥7,247 million, ordinary profit ¥7,779 million and profit attributable to owners of parent ¥5,378 million for 9M FY2025.

• Comprehensive income fell 50.5% YoY to ¥4,880 million, including a ¥779 million loss in available-for-sale securities valuation versus a ¥4,119 million gain a year earlier.

• Net sales rose ¥1,842 million YoY; net income was reduced by lower ordinary profit and a ¥100 million loss on valuation of investment securities.

Outlook and guidance

• FY2025 guidance remains unchanged: net sales ¥74,300 million (+3.7%), operating profit ¥9,970 million (+6.4%), ordinary profit ¥10,450 million (+7.5%), net income ¥7,580 million (+5.2%) and EPS ¥185.27.

• FY2025 annual dividend forecast is ¥74 per share, up from ¥70 for FY2024; no revision to the dividend forecast.