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Kewpie, 7% Increase in Ordinary Profit, Update Record High for Third Consecutive Term, Dividend Raised by 1 Yen

Wed Jan 14, 2026 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 January 14th (15:30). The consolidated ordinary profit for the fiscal year ended November 2025 increased by 1.4% from the previous period to 37.3 billion yen exceeding the previous forecast of 36.6 billion yen and resulted in an increase in profit, a complete reversal from the forecast for a decline in profit. For the fiscal year ending November 2026, the consolidated ordinary profit is expected to grow by 7.0% to 40.0 billion yen, marking the third consecutive term of record-high profits. This will be the fifth consecutive term of revenue and the third consecutive term of profit growth.

At the same time, the company has decided to increase the dividend this fiscal year to 65 yen, an increase of 1 yen from the previous fiscal year.

In the most recent three-month period, from September to November (4Q), the consolidated ordinary profit increased 74.1% from the same period last year, reaching 8.17 billion yen. The operating profit margin improved from 3.7% in the same period last year to 5.8%.

Kabutan News

Actual Performance and Financial Trends

Historical Performance
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
Nov, 2025 		513,417M 34,628M 37,389M 30,506M 220.6 64 Jan 14, 2026 J-GAAP
YoY +6.1% +0.9% +1.4% +42.4% +43.2%
Full Year Results vs. Previous Guidance
Fiscal Year Revenue Operating
Profit		 Ordinary
Profit		 Net
Profit		 Adj.
EPS		 Adj.
Dividend		 Announce Accounting
Standards
Nov, 2025 Guidance 512,000M 34,500M 36,600M 29,200M 209.4 64 Oct 2, 2025 J-GAAP
Nov, 2025 Results 513,417M 34,628M 37,389M 30,506M 220.6 64 Jan 14, 2026 J-GAAP
Revision Rate +0.3% +0.4% +2.2% +4.5% +5.4%

Current Period Guidance

First Half Results
Fiscal Year Revenue Operating
Profit		 Ordinary
Profit		 Net
Profit		 Adj.
EPS		 Adj.
Dividend		 Announce Accounting
Standards
Dec - May, 2024 		251,852M 16,164M 17,448M 18,803M 135.3 32 Jul 3, 2025 J-GAAP
Guidance
Dec - May, 2025 		ー ー ー ー － 32 Jan 14, 2026 J-GAAP
YoY － － － － －
Current Period Guidance
Fiscal Year Revenue Operating
Profit		 Ordinary
Profit		 Net
Profit		 Adj.
EPS		 Adj.
Dividend		 Announce Accounting
Standards
Nov, 2024 		483,985M 34,329M 36,874M 21,419M 154.1 54 Jan 9, 2025 J-GAAP
Nov, 2025 		513,417M 34,628M 37,389M 30,506M 220.6 64 Jan 14, 2026 J-GAAP
Guidance
Nov, 2026 		530,000M 38,000M 40,000M 25,500M 187.9 65 Jan 14, 2026 J-GAAP
YoY +3.2% +9.7% +7.0% -16.4% -14.9%

Quarterly Results

Fiscal Year Revenue Operating
Profit		 Ordinary
Profit		 Net
Profit		 Adj.
EPS		 Operating
Profit Margin		 Announce Accounting
Standards
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
Sep - Nov, 2025 		129,993M 7,566M 8,171M 4,451M 32.2 5.8 Jan 14, 2026 J-GAAP
YoY +5.6% +67.6% +74.1% +167.6% +169.1%

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