Yakult Honsha (2267) Q2 2027 earnings summary

Executive summary

• H1 FY2026 net sales rose 3.6% YoY to ¥249,949 million; operating profit fell 6.9% to ¥23,578 million, while overseas growth and yen depreciation supported results amid weaker Japan sales.

• Full-year net sales and profit forecasts were revised downward on softer expected demand; parent-attributable profit guidance was unchanged.

Financial highlights

• H1 net sales were ¥249,949 million versus ¥241,174 million YoY; gross profit was ¥147,754 million versus ¥141,922 million, and SG&A was ¥124,100 million versus ¥116,500 million.

• Operating profit was ¥23,578 million, down 6.9%, and ordinary profit was ¥32,815 million, down 9.4%.

• Profit attributable to owners of parent was ¥24,018 million, down 2.0%; basic EPS was ¥83.65 versus ¥83.41.

• Comprehensive income was ¥40,832 million versus ¥13,224 million, supported by positive foreign currency translation adjustments.

• Extraordinary income was ¥6,864 million, including gains of ¥5,292 million on investment securities and ¥1,465 million on non-current assets.

Outlook and guidance

• Revised FY2026 forecast: net sales ¥510,000 million, operating profit ¥43,000 million, ordinary profit ¥55,500 million, and parent-attributable profit ¥46,500 million.

• Versus prior guidance, sales were cut ¥17,000 million (3.2%), operating profit ¥1,000 million (2.3%), and ordinary profit ¥2,000 million (3.5%); parent-attributable profit was unchanged.

• Forecast YoY changes: net sales +4.8%, operating profit -4.8%, ordinary profit -9.1%, and parent-attributable profit +5.1%; basic EPS was revised to ¥165.09 from ¥174.21.

• FY2026 dividend forecast remains ¥72 per share, including an interim dividend of ¥36 per share.