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Morinaga &, Oct-Dec (3Q) Ordinary Profit Increases by 12%

Tue Feb 10, 2026 3:30 pm JST Earnings

2201 Morinaga & Co.,Ltd. 【J-GAAP】

Earnings Report

Morinaga & Co.,Ltd. <2201> [TSE Prime] announced its financial results after the market closed on February 10th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2026 (April to December) was 19.8 billion yen, a 0.3% increase compared to the same period last year. Progress toward the full-year plan of 22.5 billion yen was 88.4%, it was below the five-year average of 92.2%.

Based on the cumulative third-quarter performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the January to March period (4Q) is expected to grow 5.9% from the same period last year, reaching 2.60 billion yen.

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit grew 12.2% from the same period last year, reaching 6.44 billion yen. The operating profit margin improved from 9.7% in the same period last year to 10.5%.

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Actual Results

Accumulated Results 3rd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Apr - Dec, 2023 163,797 19,691 20,175 13,985 152.3 95.9 Feb 8, 2024 J-GAAP
Apr - Dec, 2024 176,584 19,427 19,844 13,601 153.0 89.0 Feb 10, 2025 J-GAAP
Apr - Dec, 2025 181,634 19,613 19,894 15,554 184.7 88.4 Feb 10, 2026 J-GAAP
YoY +2.9% +1.0% +0.3% +14.4% +20.7%

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 110,112 7,411 8,205 7,079 80.3 60 May 9, 2025 J-GAAP
Oct - Mar, 2025 Guidance 114,131 8,950 9,053 7,169 85.3 32.50 Nov 12, 2025 J-GAAP
YoY +3.6% +20.8% +10.3% +1.3% +6.3%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 213,368 20,273 21,039 15,154 165.6 55 May 10, 2024 J-GAAP
Mar, 2025 228,957 21,266 22,304 17,710 200.9 60 May 9, 2025 J-GAAP
Mar, 2026 Guidance 236,000 22,300 22,500 18,200 216.6 65 Nov 12, 2025 J-GAAP
YoY +3.1% +4.9% +0.9% +2.8% +7.9%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Oct - Dec, 2024 57,739 5,572 5,745 2,970 33.4 9.7 Feb 10, 2025 J-GAAP
Jan - Mar, 2025 52,373 1,839 2,460 4,109 46.6 3.5 May 9, 2025 J-GAAP
Apr - Jun, 2025 60,253 7,098 7,204 5,046 59.6 11.8 Aug 7, 2025 J-GAAP
Jul - Sep, 2025 61,616 6,252 6,243 5,985 71.0 10.1 Nov 12, 2025 J-GAAP
Oct - Dec, 2025 59,765 6,263 6,447 4,523 53.7 10.5 Feb 10, 2026 J-GAAP
YoY +3.5% +12.4% +12.2% +52.3% +60.8%

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