Toyo Suisan Kaisha (2875) Q4 2026 earnings summary

Executive summary

• Achieved record-high net sales and operating profit for FY2025, driven by higher volumes, price revisions, and strong performance across all segments, especially Overseas Instant Noodles and Cold-Storage.

• Net sales rose 4.8% YoY to ¥536.6 billion, operating profit up 12.1% to ¥85.8 billion, and profit attributable to owners up 9.9% to ¥70.2 billion.

• Comprehensive income surged 50.2% YoY to ¥93.8 billion.

• FY2026/FY2027 outlook projects continued sales growth but a decrease in operating profit due to rising raw material and depreciation costs, especially from new plant startups.

• Overseas instant noodles segment remains a key growth driver, with new capacity in the U.S. and Mexico and ongoing product innovation.

Financial highlights

• FY2025 net sales: ¥536.6 billion (+4.8% YoY); operating profit: ¥85.8 billion (+12.1% YoY); profit attributable to owners: ¥70.2 billion (+9.9% YoY).

• Operating profit margin improved to 16.0% from 14.9% YoY.

• EBITDA reached ¥104.1 billion; FCF was ¥42.2 billion.

• Basic earnings per share increased to ¥713.27 from ¥636.18 YoY.

• FY2026/FY2027 forecast: net sales ¥560 billion (+4.4% YoY), operating profit ¥82 billion (−4.4% YoY), profit attributable to owners ¥65.6 billion (−6.5% YoY).

Outlook and guidance

• Sales expected to rise across all segments, led by overseas instant noodles and price revisions in Japan.

• Operating profit forecast to decline due to higher raw material and depreciation costs; Middle East cost impacts not yet factored into guidance.

• Dividend per share maintained at ¥220; capital expenditures to decrease to ¥28.2 billion.

• Economic recovery expected to continue, but risks from global events and market volatility remain.