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Ajinomoto, Jul-Sep (2Q) Net Income Decreases by 28%

Thu Nov 6, 2025 3:30 pm JST Earnings

2802 Ajinomoto Co., Inc. 【IFRS】

Earnings Report

Ajinomoto Co., Inc. <2802> [TSE Prime] announced its financial results (based on IFRS) after the market closed on November 6th (15:30). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2026 (April to September) was 51.2 billion yen, a 2.0% increase compared to the same period last year. However, Progress toward the full-year plan of 120 billion yen was 42.7%, also falling below the five-year average of 61.6%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to surge 3.4 times that of the same period last year, reaching 68.7 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated net income decreased to 19.0 billion yen, a 27.5% decrease compared to the same period last year.

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Actual Results

Accumulated Results 2nd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Apr - Sep, 2023 688,004 72,658 70,125 46,457 44.4 49.4 Nov 6, 2023 IFRS
Apr - Sep, 2024 744,250 80,870 78,179 50,227 49.5 72.2 Nov 7, 2024 IFRS
Apr - Sep, 2025 738,881 81,864 80,089 51,245 52.2 ー Nov 6, 2025 IFRS
YoY -0.7% +1.2% +2.4% +2.0% +5.5%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Apr - Sep, 2025 Guidance ー ー ー ー － 24 May 8, 2025 IFRS
Apr - Sep, 2025 Results 738,881 81,864 80,089 51,245 52.2 24 Nov 6, 2025 IFRS
Revision Rate － － － － －

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Oct - Mar, 2024 786,306 33,098 30,151 20,045 19.9 20 May 8, 2025 IFRS
Oct - Mar, 2025 Guidance 879,119 ー ー 68,755 71.1 24 Nov 6, 2025 IFRS
YoY +11.8% － － +243.0% +257.5%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 1,439,231 146,682 142,043 87,121 83.7 37 May 9, 2024 IFRS
Mar, 2025 1,530,556 113,968 108,330 70,272 69.8 40 May 8, 2025 IFRS
Mar, 2026 Guidance 1,618,000 ー ー 120,000 124.2 48 May 8, 2025 IFRS
YoY +5.7% － － +70.8% +78.0%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 378,742 40,065 38,354 26,260 25.9 10.6 Nov 7, 2024 IFRS
Oct - Dec, 2024 406,785 50,073 49,413 32,214 31.9 12.3 Feb 3, 2025 IFRS
Jan - Mar, 2025 379,521 -16,975 -19,262 -12,169 -12.1 -4.5 May 8, 2025 IFRS
Apr - Jun, 2025 364,008 49,380 48,072 32,218 32.6 13.6 Aug 4, 2025 IFRS
Jul - Sep, 2025 374,873 32,484 32,017 19,027 19.4 8.7 Nov 6, 2025 IFRS
YoY -1.0% -18.9% -16.5% -27.5% -25.1%

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