Fuji Oil Holdings (2607) Q2 2026 earnings summary

Executive summary

• Net sales for 1H FY2025 rose 18.9% year-over-year to ¥375.7 billion, driven by higher sales prices reflecting increased raw material costs, especially palm oil and cocoa.

• Business profit surged 131.6% to ¥15.4 billion, mainly due to strong CBE sales and reduced cocoa-related expenses at Blommer.

• Profit attributable to owners of parent reached ¥8.5 billion, up 325.0% year-over-year, reflecting improved core business performance and cost controls.

• The company adopted IFRS from FY2025 Q1, with prior year figures restated for comparability.

Financial highlights

• Operating profit increased 132.5% year-over-year to ¥13.9 billion; EBITDA for 1H FY2025 was ¥24.1 billion.

• Basic earnings per share increased to ¥99.32 from ¥23.37 a year earlier.

• ROE for 1H FY2025 was 8.0%; ROA was 3.6%.

• Interest-bearing debt increased to ¥309.5 billion, with total assets at ¥650.4 billion.

• Free cash flow remained negative at ¥(42.6) billion due to investment outflows, including acquisition of a new subsidiary.

Outlook and guidance

• Full-year forecast remains unchanged: net sales of ¥800.0 billion, business profit of ¥29.5 billion, and profit attributable to owners of parent of ¥16.5 billion.

• Annual dividend forecast is ¥52.00 per share.

• Second half risks include stagnant chocolate consumption from high cocoa prices, volatile raw material costs, and economic uncertainty in China and the U.S.

• Focus on expanding compound chocolate sales, price optimization, and improving profitability in all segments.