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Kewpie, Dec-Aug (Cumulative 3Q) Ordinary Profit Decreases by 9%

Thu Oct 2, 2025 3:30 pm JST Earnings

2809 Kewpie Corporation 【J-GAAP】

Earnings Report

Kewpie Corporation <2809> [TSE Prime] announced its financial results after the market closed on October 2nd (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending November 2025 (December 2024 to August 2025) decreased 9.2% from the same period last year to 29.2 billion yen. However, Progress toward the full-year plan of 36.6 billion yen was 79.8%, almost the same as the five-year average of 79.2%.

Based on the cumulative third-quarter performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the September to November period (4Q) is expected to expand 57.3% from the same period last year, reaching 7.38 billion yen.

In the most recent three-month period, from June to August (3Q), the consolidated ordinary profit amounted to 11.7 billion yen, a 0.9% decrease compared to the same period last year. The operating profit margin worsened from 8.8% in the same period last year to 8.3%.

Kabutan News

Actual Performance and Financial Trends

Accumulated Results 3rd Quarter
Fiscal Year Revenue Operating
Profit		 Ordinary
Profit		 Net
Profit		 Adj.
EPS		 Progress Rate
vs. First Half		 Announce Accounting
Standards
Dec - Aug, 2022 		335,897M 13,341M 15,083M 11,081M 79.7 73.6 Oct 5, 2023 J-GAAP
Dec - Aug, 2023 		360,911M 29,815M 32,182M 19,756M 142.1 87.3 Oct 3, 2024 J-GAAP
Dec - Aug, 2024 		383,424M 27,062M 29,218M 26,055M 187.9 79.8 Oct 2, 2025 J-GAAP
YoY +6.2% -9.2% -9.2% +31.9% +32.2%

Guidance Update

Second Half Update
Fiscal Year Revenue Operating
Profit		 Ordinary
Profit		 Net
Profit		 Adj.
EPS		 Adj.
Dividend		 Announce Accounting
Standards
Jun - Nov, 2025 Prev 253,148M 18,336M 19,152M 10,397M 74.5 32 Jul 3, 2025 J-GAAP
Jun - Nov, 2025 New 260,148M 18,336M 19,152M 10,397M 74.5 32 Oct 2, 2025 J-GAAP
Revision Rate +2.8% 0.0% 0.0% 0.0% 0.0%
Full Year Update
Fiscal Year Revenue Operating
Profit		 Ordinary
Profit		 Net
Profit		 Adj.
EPS		 Adj.
Dividend		 Announce Accounting
Standards
Nov, 2025 Prev 505,000M 34,500M 36,600M 29,200M 209.4 64 Jan 9, 2025 J-GAAP
Nov, 2025 New 512,000M 34,500M 36,600M 29,200M 209.4 64 Oct 2, 2025 J-GAAP
Revision Rate +1.4% 0.0% 0.0% 0.0% 0.0%

Current Period Guidance

Second Half Results
Fiscal Year Revenue Operating
Profit		 Ordinary
Profit		 Net
Profit		 Adj.
EPS		 Adj.
Dividend		 Announce Accounting
Standards
Jun - Nov, 2024 		247,151M 15,447M 16,568M 8,906M 64.1 31 Jan 9, 2025 J-GAAP
Guidance
Jun - Nov, 2025 		260,148M 18,336M 19,152M 10,397M 74.5 32 Oct 2, 2025 J-GAAP
YoY +5.3% +18.7% +15.6% +16.7% +16.3%
Current Period Guidance
Fiscal Year Revenue Operating
Profit		 Ordinary
Profit		 Net
Profit		 Adj.
EPS		 Adj.
Dividend		 Announce Accounting
Standards
Nov, 2023 		455,086M 19,694M 20,490M 13,174M 94.8 50 Jan 10, 2024 J-GAAP
Nov, 2024 		483,985M 34,329M 36,874M 21,419M 154.1 54 Jan 9, 2025 J-GAAP
Guidance
Nov, 2025 		512,000M 34,500M 36,600M 29,200M 209.4 64 Oct 2, 2025 J-GAAP
YoY +5.8% +0.5% -0.7% +36.3% +35.9%

Quarterly Results

Fiscal Year Revenue Operating
Profit		 Ordinary
Profit		 Net
Profit		 Adj.
EPS		 Operating
Profit Margin		 Announce Accounting
Standards
Jun - Aug, 2024 		124,077M 10,933M 11,876M 7,243M 52.1 8.8 Oct 3, 2024 J-GAAP
Sep - Nov, 2024 		123,074M 4,514M 4,692M 1,663M 12.0 3.7 Jan 9, 2025 J-GAAP
Dec - Feb, 2024 		120,040M 5,786M 6,519M 12,777M 91.9 4.8 Apr 3, 2025 J-GAAP
Mar - May, 2025 		131,812M 10,378M 10,929M 6,026M 43.4 7.9 Jul 3, 2025 J-GAAP
Jun - Aug, 2025 		131,572M 10,898M 11,770M 7,252M 52.3 8.3 Oct 2, 2025 J-GAAP
YoY +6.0% -0.3% -0.9% +0.1% +0.4%

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