Supplementary Materials for Q3 Financial Results for the Fiscal Year Ending March 2026

Overview of Performance

Net sales for the third quarter of the fiscal year ending March 2026 reached 158,120 million yen, an increase of 691 million yen year-over-year. Growth was driven by increased sales volume in the feed segment and revenue growth in other segments. Operating income rose to 4,423 million yen, up 1,716 million yen YoY, primarily due to improved raw material positioning, higher feed sales volumes, and increased profits from aquatic feed. Net income attributable to owners of parent also increased to 3,721 million yen, up 1,350 million yen YoY. Although capital expenditures decreased compared to the previous year, they proceeded according to plan.

Segment Status and Full-Year Outlook

In the feed segment, livestock feed sales volume increased to 102.4% compared to the same period last year, and the environmentally conscious feed sales index remained at a high level of 148% compared to the 24.3 term. The raw material position improved by 1.99 billion yen YoY, and although variable and fixed costs trended upward, they remained within plan. Aquatic feed showed increases in both profit margin and sales volume. The full-year outlook targets 103% of the plan overall; however, the sales composition ratio of differentiated feed is expected to fall short of the plan’s 47%. The raw material position is expected to surpass the plan, supporting achievement of the full-year targets.