Supplementary Materials for Q3 Financial Results for Fiscal Year Ending March 2026 (April 2025 – December 2025)

Performance Overview

For the nine months ended December 2025 of the fiscal year ending March 2026, operating income reached a record high of 29.4 billion yen, and net sales increased 1.1% year over year to 837.6 billion yen. Meanwhile, quarterly net income attributable to owners of parent was 17.5 billion yen, down 24.7% year over year. Significant earnings improvement in the Marine Products segment and strong performance in European operations contributed to overall growth in revenue and profits. Ordinary income was 29.2 billion yen, down 5.7% year over year, but the operating income margin improved to 3.5%.

Segment Performance and Outlook

The Marine Products segment posted higher profits driven by improved operational efficiency and production base consolidation effects (segment profit of 2.4 billion yen, up 4.3 billion yen YoY). The Foods Distribution segment saw profit growth due to the impact of its European subsidiary, but overall segment revenue increased while profits declined due to rising costs and decreased profits in agriculture and livestock businesses (14.8 billion yen, down 0.8 billion yen YoY). The Processed Foods segment recorded lower profits, impacted by domestic retail sales shortfalls and decreased overseas pet food sales (9.7 billion yen, down 2.5 billion yen YoY). The full-year net income forecast was revised downward to 19.5 billion yen, while the dividend forecast was revised upward to 24 yen per share.