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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%.

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Actual Results

Historical Performance
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 513,417 34,628 37,389 30,506 220.6 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 512,000 34,500 36,600 29,200 209.4 64 Oct 2, 2025 J-GAAP
Nov, 2025 Results 513,417 34,628 37,389 30,506 220.6 64 Jan 14, 2026 J-GAAP
Revision Rate +0.3% +0.4% +2.2% +4.5% +5.4%

Current Period Guidance

H1 Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec - May, 2024 251,852 16,164 17,448 18,803 135.3 32 Jul 3, 2025 J-GAAP
Dec - May, 2025 Guidance 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 483,985 34,329 36,874 21,419 154.1 54 Jan 9, 2025 J-GAAP
Nov, 2025 513,417 34,628 37,389 30,506 220.6 64 Jan 14, 2026 J-GAAP
Nov, 2026 Guidance 530,000 38,000 40,000 25,500 184.0 65 Jan 14, 2026 J-GAAP
YoY +3.2% +9.7% +7.0% -16.4% -16.6%

Quarterly Results

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

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