Morinaga Milk Industry Co., Ltd. Supplementary Materials for the Second Quarter (Interim) of Fiscal Year Ending March 2027

Performance Overview

Morinaga Milk Industry Co., Ltd. reported consolidated net sales of 293,330 million yen (Q1–Q2) for the second quarter of the fiscal year ending March 2027, a 2.6% increase year-over-year, and operating income of 20,805 million yen (same period), showing improvement over the prior year. The full-year forecasts have been revised upward to net sales of 590,000 million yen, operating income of 39,000 million yen, and net income attributable to owners of parent of 23,000 million yen. Exchange rate movements and raw material trends are expected to continue affecting performance, and close attention should be paid to fluctuations in raw material costs.

Outlook and Impact for Investors

By business area, contributions from growth segments and stable growth in core divisions continue, and overseas operations maintain a high level of revenue contribution. The revised full-year profit outlook assumes higher operating income, but there are upside and downside risks depending on raw material prices and energy costs. It is advisable to review capital policy and dividend policy disclosures in other documents where available.