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KIKKOMAN, Net Income Forecast for the Fiscal Year Revised Upward by 1%

Fri Nov 7, 2025 11:30 am JST Earnings

2801 KIKKOMAN CORPORATION 【IFRS】

Earnings Report

KIKKOMAN CORPORATION <2801> [TSE Prime] announced its financial results (based on IFRS) at noon (11:30) on November 7th. The consolidated net income for the cumulative second quarter of the fiscal year ending March 2026 (April to September) decreased 9.9% from the same period last year to 31.3 billion yen.

However, the full-year forecast for consolidated net income has been revised upward 0.7%, from the previous forecast of 59.6 billion yen to 60.0 billion yen (compared to 61.6 billion yen in the previous period), and the declining rate is expected to decrease from 3.4% to 2.7%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to grow 6.5% from the same period last year, reaching 28.6 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated net income decreased to 16.0 billion yen, a 4.1% decrease compared to the same period last year. The operating profit margin decreased from 11.6% in the same period last year to 11.2%.

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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 322,733 33,484 37,854 28,809 30.2 50.1 Nov 2, 2023 IFRS
Apr - Sep, 2024 355,569 41,997 47,344 34,755 36.5 56.5 Nov 6, 2024 IFRS
Apr - Sep, 2025 358,610 39,633 43,039 31,315 33.3 52.6 Nov 7, 2025 IFRS
YoY +0.9% -5.6% -9.1% -9.9% -8.7%

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 － 10 Apr 28, 2025 IFRS
Apr - Sep, 2025 Results 358,610 39,633 43,039 31,315 33.3 10 Nov 7, 2025 IFRS
Revision Rate － － － － －

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2026 Prev 744,500 75,200 81,800 59,600 64.3 25 Apr 28, 2025 IFRS
Mar, 2026 New 731,000 75,000 81,800 60,000 64.8 25 Nov 7, 2025 IFRS
Revision Rate -1.8% -0.3% 0.0% +0.7% +0.7%

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 353,410 31,701 36,410 26,940 28.4 15 Apr 28, 2025 IFRS
Oct - Mar, 2025 Guidance 372,390 35,367 38,761 28,685 31.0 15 Nov 7, 2025 IFRS
YoY +5.4% +11.6% +6.5% +6.5% +9.1%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 660,835 66,733 75,605 56,441 59.2 20.80 Apr 26, 2024 IFRS
Mar, 2025 708,979 73,698 83,754 61,695 65.0 25 Apr 28, 2025 IFRS
Mar, 2026 Guidance 731,000 75,000 81,800 60,000 64.8 25 Nov 7, 2025 IFRS
YoY +3.1% +1.8% -2.3% -2.7% -0.4%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 177,351 20,523 22,669 16,709 17.6 11.6 Nov 6, 2024 IFRS
Oct - Dec, 2024 179,946 20,483 22,715 16,574 17.4 11.4 Feb 5, 2025 IFRS
Jan - Mar, 2025 173,464 11,218 13,695 10,366 10.9 6.5 Apr 28, 2025 IFRS
Apr - Jun, 2025 175,660 19,091 21,084 15,293 16.2 10.9 Aug 5, 2025 IFRS
Jul - Sep, 2025 182,950 20,542 21,955 16,022 17.1 11.2 Nov 7, 2025 IFRS
YoY +3.2% +0.1% -3.1% -4.1% -2.8%

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