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KENKO Mayonnaise, Ordinary Profit Forecast for the Fiscal Year Revised Downward by 21%

Fri Nov 14, 2025 4:30 pm JST Earnings

2915 KENKO Mayonnaise Co., Ltd. 【J-GAAP】

Earnings Report

KENKO Mayonnaise Co., Ltd. <2915> [TSE Prime] announced its financial results after the market closed on November 14th (16:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2026 (April to September) dropped 38.8% from the same period last year to 2.00 billion yen.

In addition, the full-year forecast for consolidated ordinary profit has decreased 20.5%, from the previous forecast of 4.97 billion yen to 3.95 billion yen (compared to 4.99 billion yen in the previous period), leading to an increase in the profit decline rate from 0.6% to 21.0%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to grow 12.7% from the same period last year, reaching 1.94 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 1.20 billion yen, an 18.2% decrease compared to the same period last year. The operating profit margin worsened from 6.2% in the same period last year to 5.1%.

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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 43,763 782 847 542 33.7 27.3 Nov 13, 2023 J-GAAP
Apr - Sep, 2024 46,455 3,194 3,272 2,246 140.6 65.5 Nov 11, 2024 J-GAAP
Apr - Sep, 2025 45,941 1,944 2,004 1,245 83.5 50.7 Nov 14, 2025 J-GAAP
YoY -1.1% -39.1% -38.8% -44.6% -40.7%

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 － 23 May 12, 2025 J-GAAP
Apr - Sep, 2025 Results 45,941 1,944 2,004 1,245 83.5 23 Nov 14, 2025 J-GAAP
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 95,500 4,800 4,970 3,217 223.4 47 May 12, 2025 J-GAAP
Mar, 2026 New 92,800 3,800 3,950 2,470 171.6 47 Nov 14, 2025 J-GAAP
Revision Rate -2.8% -20.8% -20.5% -23.2% -23.2%

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 45,248 1,651 1,727 1,257 79.5 24 May 12, 2025 J-GAAP
Oct - Mar, 2025 Guidance 46,859 1,856 1,946 1,225 85.1 24 Nov 14, 2025 J-GAAP
YoY +3.6% +12.4% +12.7% -2.5% +7.0%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 88,724 2,949 3,099 2,735 169.9 30 May 13, 2024 J-GAAP
Mar, 2025 91,703 4,845 4,999 3,503 221.6 43 May 12, 2025 J-GAAP
Mar, 2026 Guidance 92,800 3,800 3,950 2,470 171.6 47 Nov 14, 2025 J-GAAP
YoY +1.2% -21.6% -21.0% -29.5% -22.6%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 23,453 1,459 1,477 1,019 63.8 6.2 Nov 11, 2024 J-GAAP
Oct - Dec, 2024 24,082 1,396 1,426 998 62.5 5.8 Feb 14, 2025 J-GAAP
Jan - Mar, 2025 21,166 255 301 259 16.4 1.2 May 12, 2025 J-GAAP
Apr - Jun, 2025 22,675 762 796 560 37.5 3.4 Aug 8, 2025 J-GAAP
Jul - Sep, 2025 23,266 1,182 1,208 685 45.9 5.1 Nov 14, 2025 J-GAAP
YoY -0.8% -19.0% -18.2% -32.8% -28.0%

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