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MORINAGA MILK, Apr-Dec (Cumulative 3Q) Ordinary Profit Increases by 26%, Oct-Dec Ordinary Profit Increases by 23%

Thu Feb 12, 2026 2:00 pm JST Earnings

2264 MORINAGA MILK INDUSTRY CO.,LTD 【J-GAAP】

Earnings Report

MORINAGA MILK INDUSTRY CO.,LTD <2264> [TSE Prime] announced its financial results in the afternoon session on February 12th (14:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2026 (April to December) increased 25.8% from the same period last year, reaching 32.7 billion yen. Progress toward the full-year plan of 33.9 billion yen was 96.7%, also surpassing the five-year average of 90.1%.

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 significant drop 70.6% from the same period last year to 1.12 billion yen.

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit grew 23.1% from the same period last year, reaching 10.8 billion yen. The operating profit margin improved from 5.7% in the same period last year to 6.8%.

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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 423,256 27,993 28,517 62,699 709.6 101.5 Feb 9, 2024 J-GAAP
Apr - Dec, 2024 430,721 25,489 26,043 14,740 173.7 87.2 Feb 12, 2025 J-GAAP
Apr - Dec, 2025 437,822 30,681 32,775 21,936 266.8 96.7 Feb 12, 2026 J-GAAP
YoY +1.6% +20.4% +25.8% +48.8% +53.6%

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 270,574 12,159 12,617 -4,250 -50.3 45 May 13, 2025 J-GAAP
Oct - Mar, 2025 Guidance 276,670 12,195 11,951 4,363 53.9 48 Nov 11, 2025 J-GAAP
YoY +2.3% +0.3% -5.3% － －

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 547,059 27,839 28,104 61,307 696.9 60 May 14, 2024 J-GAAP
Mar, 2025 561,173 29,658 29,864 5,459 64.6 90 May 13, 2025 J-GAAP
Mar, 2026 Guidance 570,000 33,000 33,900 19,000 234.8 93 Nov 11, 2025 J-GAAP
YoY +1.6% +11.3% +13.5% +248.0% +263.5%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Oct - Dec, 2024 140,122 7,990 8,796 5,031 59.3 5.7 Feb 12, 2025 J-GAAP
Jan - Mar, 2025 130,452 4,169 3,821 -9,281 -109.8 3.2 May 13, 2025 J-GAAP
Apr - Jun, 2025 143,678 8,835 9,529 6,911 82.9 6.1 Aug 8, 2025 J-GAAP
Jul - Sep, 2025 149,652 11,970 12,420 7,726 93.4 8.0 Nov 11, 2025 J-GAAP
Oct - Dec, 2025 144,492 9,876 10,826 7,299 88.8 6.8 Feb 12, 2026 J-GAAP
YoY +3.1% +23.6% +23.1% +45.1% +49.7%

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