Ajinomoto (2802) Q3 2026 earnings summary

Executive summary

• Sales, business profit, and profit attributable to owners reached new record highs for the first three quarters of FY2025, with strong performance in both domestic and overseas markets and significant acceleration in the third quarter.

• Upward revisions were made to full-year forecasts for business profit and profit attributable to owners, reflecting robust results and expected gains from asset sales.

• Strategic focus for FY2026 includes accelerating growth in Bio & Fine Chemicals and achieving 2030 Roadmap targets ahead of schedule.

Financial highlights

• Cumulative Q3 FY2025 sales reached ¥1,164.1 billion (101% YoY), business profit ¥145.9 billion (105% YoY), and profit attributable to owners ¥89.7 billion (108% YoY).

• Q3 FY2025 alone saw sales of ¥425.2 billion (104% YoY), business profit ¥59.2 billion (115% YoY), and profit attributable to owners ¥38.5 billion (119% YoY).

• FY2025 revised full-year forecast: sales ¥1,600 billion (104% YoY), business profit ¥181 billion (113% YoY), profit attributable to owners ¥130 billion (184% YoY).

• Gross profit for the nine months was ¥445.4 billion, up from ¥422.0 billion year-over-year.

• Basic earnings per share increased to ¥91.82 from ¥81.54 year-over-year.

Outlook and guidance

• Full-year FY2025 business profit and profit attributable to owners revised upward, supported by strong performance and asset sales, while sales forecast was slightly reduced due to currency effects.

• FY2026 targets include continued growth in core businesses and dramatic expansion in Bio & Fine Chemicals.

• 2030 Roadmap aims for approximately 3x EPS versus FY2022 and ROE of approximately 17%.

• Forecast assumes an exchange rate of ¥150 to US$1.