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Kewpie, Dec-Aug (Cumulative 3Q) Ordinary Profit Decreases by 9%

Thu Oct 2, 2025 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 October 2nd (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending November 2025 (December 2024 to August 2025) decreased 9.2% from the same period last year to 29.2 billion yen. However, Progress toward the full-year plan of 36.6 billion yen was 79.8%, almost the same as the five-year average of 79.2%.

Based on the cumulative third-quarter performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the September to November period (4Q) is expected to expand 57.3% from the same period last year, reaching 7.38 billion yen.

In the most recent three-month period, from June to August (3Q), the consolidated ordinary profit amounted to 11.7 billion yen, a 0.9% decrease compared to the same period last year. The operating profit margin worsened from 8.8% in the same period last year to 8.3%.

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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
Dec - Aug, 2022 335,897 13,341 15,083 11,081 79.7 73.6 Oct 5, 2023 J-GAAP
Dec - Aug, 2023 360,911 29,815 32,182 19,756 142.1 87.3 Oct 3, 2024 J-GAAP
Dec - Aug, 2024 383,424 27,062 29,218 26,055 187.9 79.8 Oct 2, 2025 J-GAAP
YoY +6.2% -9.2% -9.2% +31.9% +32.2%

Guidance Update

Second Half Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jun - Nov, 2025 Prev 253,148 18,336 19,152 10,397 74.5 32 Jul 3, 2025 J-GAAP
Jun - Nov, 2025 New 260,148 18,336 19,152 10,397 74.5 32 Oct 2, 2025 J-GAAP
Revision Rate +2.8% 0.0% 0.0% 0.0% 0.0%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Nov, 2025 Prev 505,000 34,500 36,600 29,200 209.4 64 Jan 9, 2025 J-GAAP
Nov, 2025 New 512,000 34,500 36,600 29,200 209.4 64 Oct 2, 2025 J-GAAP
Revision Rate +1.4% 0.0% 0.0% 0.0% 0.0%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jun - Nov, 2024 247,151 15,447 16,568 8,906 64.1 31 Jan 9, 2025 J-GAAP
Jun - Nov, 2025 Guidance 260,148 18,336 19,152 10,397 74.5 32 Oct 2, 2025 J-GAAP
YoY +5.3% +18.7% +15.6% +16.7% +16.3%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Nov, 2023 455,086 19,694 20,490 13,174 94.8 50 Jan 10, 2024 J-GAAP
Nov, 2024 483,985 34,329 36,874 21,419 154.1 54 Jan 9, 2025 J-GAAP
Nov, 2025 Guidance 512,000 34,500 36,600 29,200 209.4 64 Oct 2, 2025 J-GAAP
YoY +5.8% +0.5% -0.7% +36.3% +35.9%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jun - Aug, 2024 124,077 10,933 11,876 7,243 52.1 8.8 Oct 3, 2024 J-GAAP
Sep - Nov, 2024 123,074 4,514 4,692 1,663 12.0 3.7 Jan 9, 2025 J-GAAP
Dec - Feb, 2024 120,040 5,786 6,519 12,777 91.9 4.8 Apr 3, 2025 J-GAAP
Mar - May, 2025 131,812 10,378 10,929 6,026 43.4 7.9 Jul 3, 2025 J-GAAP
Jun - Aug, 2025 131,572 10,898 11,770 7,252 52.3 8.3 Oct 2, 2025 J-GAAP
YoY +6.0% -0.3% -0.9% +0.1% +0.4%

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