Yakult Honsha (2267) Q1 2025 earnings summary

Executive summary

• Net sales for 1Q FY2024 rose 0.4% year-over-year to ¥122.6B, but operating profit declined 5.2% to ¥16.0B.

• Profit attributable to owners increased 7.5% year-over-year to ¥14.0B; basic EPS was ¥46.48.

• Overseas sales and profit rose, driven by price revisions and yen depreciation, despite lower volumes in Asia and Oceania.

• Comprehensive income surged 30.2% year-over-year to ¥38.2B, mainly from foreign currency translation gains.

• Domestic food and beverage sales and profit decreased due to lower dairy product volumes.

Financial highlights

• Net sales: ¥122.6B, up 0.4% year-over-year; FX impact +¥6.2B.

• Operating profit: ¥16.0B, down 5.2% year-over-year; FX impact +¥1.3B.

• Ordinary profit: ¥22.2B, up 6.9% year-over-year; FX impact +¥1.8B.

• Profit attributable to owners: ¥14.0B, up 7.5% year-over-year; FX impact +¥1.0B.

• Gross profit increased to ¥73.7B from ¥72.7B year-over-year.

Outlook and guidance

• Full-year net sales forecast: ¥267.0B, up 5.6% year-over-year.

• Full-year operating profit forecast: ¥35.5B, up 0.6% year-over-year.

• Full-year profit attributable to owners forecast: ¥28.5B, up 9.3% year-over-year.

• No changes to previously announced financial forecasts.

• Dividend forecast for FY2024 maintained at ¥64.00 per share (post-split basis).