FY2026 Q3 Financial Summary [Japanese GAAP] (Consolidated)

Performance Overview

For the third quarter of the fiscal year ending March 2026, consolidated net sales remained firm at 54,972 million yen (1.1% increase YoY); however, operating income was 3,046 million yen (22.4% decrease YoY), ordinary income was 3,481 million yen (19.0% decrease YoY), and net income attributable to owners of parent was 2,350 million yen (6.8% decrease YoY). The primary causes for the profit decline were the insufficient pass-through of increased transportation and other costs in the flour milling and food businesses, higher repair expenses due to aging facilities, and increased labor and food costs in the restaurant business.

Segment Results

Net sales in the flour milling and food business amounted to 46,212 million yen (0.4% increase YoY), with operating income of 2,867 million yen (18.4% decrease YoY). The restaurant business recorded net sales of 8,703 million yen (5.5% increase YoY), but operating income sharply declined to 106 million yen (68.1% decrease YoY). The logistics business posted net sales of 1,459 million yen (4.2% decrease YoY) and operating income of 39 million yen (20.5% decrease YoY).

Financial Position and Dividends

Total assets were 62,015 million yen, net assets were 48,886 million yen, and the equity ratio improved by 0.3 percentage points to 78.7% compared with the same period last year. Dividends are planned at 280 yen annually (140 yen interim, 140 yen year-end), with no revisions from the previous forecast.

Outlook

The full-year forecast for the fiscal year ending March 2026 anticipates net sales of 73,000 million yen (0.9% increase YoY), operating income of 3,500 million yen (31.3% decrease YoY), ordinary income of 4,100 million yen (26.3% decrease YoY), and net income attributable to owners of parent of 3,100 million yen (12.7% decrease YoY). Due to delays in large-scale repairs under the Mid-term Management Plan 2026, the timing for achieving KPIs in the fiscal year ending March 2027 is expected to be pushed back.

Stock Split

A stock split will be implemented on April 1, 2026, at a ratio of 1-for-4. After the split, the total number of issued shares will be 37,538,912 shares, and the total number of authorized shares will increase to 120 million shares. Quarterly net income per share will be adjusted accordingly due to the stock split.