Yokorei (2874) Q2 2026 earnings summary

Executive summary

• Achieved revenue growth and significant profit increase in FY2026 2Q, driven by robust demand in the cold storage business and improved margins in food sales.

• Net sales for the six months ended March 31, 2026, rose 1.3% year-over-year to ¥64,228 million, with operating profit up 35.0% and ordinary profit up 65.3%.

• Profit attributable to owners of parent increased 70.5% year-over-year to ¥2,849 million.

• Both main business segments contributed to higher profits, with cold storage showing strong volume and price increases, and food sales benefiting from structural reforms.

• Comprehensive income surged 123.2% year-over-year to ¥5,880 million.

Financial highlights

• Revenue: ¥64.2 billion, up 1.3% year-over-year; operating profit: ¥4.1 billion, up 35.0% year-over-year.

• Net income attributable to shareholders: ¥2.8 billion, up 70.5% year-over-year.

• Gross profit margin improved to 13.7% (+1.6pt), operating margin to 6.4% (+1.6pt).

• EBITDA increased 23.8% year-over-year to ¥8.45 billion.

• Total assets as of March 31, 2026, were ¥216,950 million, up from ¥209,034 million at the previous fiscal year-end.

Outlook and guidance

• Full-year revenue forecast revised upward to ¥125 billion (+¥7 billion from initial), operating profit to ¥7 billion (+¥2.2 billion), and net income to ¥4.8 billion (+¥1.8 billion).

• Operating profit is projected at ¥7,000 million (up 65.2%), ordinary profit at ¥6,400 million (up 74.9%), and profit attributable to owners of parent at ¥4,800 million (up 142.6%).

• Basic earnings per share forecast is ¥81.27.

• Dividend forecast raised to ¥27 per share, reflecting improved earnings outlook.