Ebara Foods Industry (2819): FY2025 Results Summary — Portion-Type Seasonings Drive Higher Sales and Profit

This article is based on publicly available IR materials and is not a recommendation to buy or sell any specific securities.

Note: Ebara Foods Industry does not publish an English results presentation; this article is an English translation of the Japanese-language article on our sister site Investalk, which is based on the company’s Japanese-language IR materials, with figures transcribed as reported. The company labels its most recently completed fiscal year, ended March 31, 2026, as FY3/26; this site classifies that year as FY2025, while the labels used in the text and tables below follow the source materials.

Ebara Foods Industry posted consolidated results for the fiscal year ended March 31, 2026 (April 1, 2025 to March 31, 2026) with net sales of 50,005 million yen (up 4.3% year on year) and operating profit of 2,404 million yen (up 18.4%), securing both higher sales and higher profit. Ordinary profit was 2,676 million yen (up 26.7%) and profit attributable to owners of parent was 1,783 million yen (up 27.4%), with all of these finishing above the plan disclosed on February 6, 2026. Growth in the household hot-pot seasoning category, led by portion-type seasonings, lifted second-half earnings.

Consolidated Results (Full-Year Actual)

Although the cost of sales ratio rose 0.4pt on factors including raw material prices, the effect of higher sales absorbed this, and operating profit increased 372 million yen year on year. EBITDA was 4,088 million yen (up 15.3% year on year), reaching the 4,000 million yen numerical target of the medium-term management plan.

Item (¥ million)	Current FY (FY3/26)	Previous FY (FY3/25)	Change	Change (%)
Net sales	50,005	47,963	2,041	4.3%
Cost of sales	32,997	31,440	1,556	4.9%
Gross profit	17,007	16,522	485	2.9%
SG&A expenses	14,603	14,490	112	0.8%
Operating profit	2,404	2,031	372	18.4%
EBITDA	4,088	3,545	542	15.3%
Ordinary profit	2,676	2,113	563	26.7%
Profit attributable to owners of parent	1,783	1,399	383	27.4%

Segment Results (by Business)

The business portfolio comprises three categories: the Food business, the Logistics business and Other. Of total net sales of 50,005 million yen, the Food business accounted for 42,412 million yen (84.8% of the total), up 5.1% year on year. Within the Food business, household products were 30,866 million yen (up 4.9%), led by portion-type seasonings such as Puchitto Nabe, Puchitto Udon and Puchitto Chuka. Commercial-use products were 11,545 million yen (up 5.5%), helped by sales growth in the soup category, the overseas business and group company Maruni. The Logistics business was 6,838 million yen (down 2.2%) and Other was 754 million yen (up 24.6%).

Category (¥ million)	Previous FY (FY3/25)	Current FY (FY3/26)	Change	Change (%)
Food business	40,364	42,412	2,047	5.1%
Household products	29,419	30,866	1,447	4.9%
Meat-related seasonings	12,332	12,149	▲182	▲1.5%
Hot-pot seasonings	10,781	11,656	875	8.1%
Vegetable-related seasonings	2,551	2,646	95	3.7%
Other categories	3,754	4,413	659	17.6%
Commercial-use products	10,945	11,545	600	5.5%
Meat-related seasonings	3,306	3,264	▲41	▲1.3%
Soups	3,334	3,680	345	10.4%
Other categories	4,304	4,600	296	6.9%
Logistics business	6,993	6,838	▲154	▲2.2%
Other	605	754	149	24.6%
Total	47,963	50,005	2,041	4.3%

Full-Year Forecast

For the fiscal year ending March 31, 2027, the company expects net sales of 50,200 million yen (up 0.4% year on year). While it looks for growth in overseas sales of commercial-use products in the Food business, it has factored in temporary costs accompanying the reorganization of its manufacturing structure and an increase of approximately 1,200 million yen in raw material and energy costs, and plans operating profit of 1,500 million yen (down 37.6%), ordinary profit of 1,700 million yen (down 36.5%) and profit attributable to owners of parent of 1,000 million yen (down 43.9%).

Item (¥ million)	FY3/26 (Actual)	FY3/27 (Plan)	Change (%)
Net sales	50,005	50,200	0.4%
Operating profit	2,404	1,500	▲37.6%
Ordinary profit	2,676	1,700	▲36.5%
Profit attributable to owners of parent	1,783	1,000	▲43.9%

Shareholder Returns

The annual dividend for FY3/26 was 47 yen, an increase of 2 yen from the previous year (total dividends of 458 million yen, payout ratio 25.7%), and together with share buybacks of 106 million yen the total return ratio came to 31.7%. For FY3/27 the company plans an annual dividend of 50 yen, comprising 25 yen at the interim and 25 yen at the year-end, for a payout ratio of 48.7%, and aims to achieve the medium-term management plan’s target of a total return ratio of 50% or more.

Item	FY3/24	FY3/25	FY3/26	FY3/27 (Plan)
Annual dividend per share (yen)	Not disclosed	45	47	50
Total dividends (¥ million)	392	439	458	486
Payout ratio	21.8%	31.4%	25.7%	48.7%
Share buybacks (¥ million)	0	177	106	—
Total return ratio	21.8%	44.1%	31.7%	50% or more (medium-term plan target)

Medium-Term Management Plan / Topics

The year under review was the second year of the three-year medium-term management plan “Ebara Reboot 2026.” Consolidated net sales reached 50,000 million yen for the first time since the transition to the new accounting standard, and operating profit rose year on year for the first time in five fiscal years. Among the plan’s numerical targets, EBITDA (4,000 million yen) and the overseas sales ratio (5.1%, against a target of 5% or more) had already been reached as of FY3/26. The total return ratio (31.7%, against a target of 50% or more) is targeted for achievement in FY3/27, the final year of the plan. Net sales of portion-type seasonings, a growth area, expanded from 4,200 million yen in FY3/22 to 7,400 million yen in FY3/26, roughly 1.8 times over the past five years. Overseas business sales also grew from 1,100 million yen in FY3/19 to 2,500 million yen, and for FY3/27 the company plans 3,000 million yen or more with an overseas sales ratio of 6% or more. The company has also decided to halt operations at its Gunma plant and has acquired a factory site in Shimotsuma City, Ibaraki Prefecture as a growth investment, advancing the transformation of its manufacturing structure.

This article is an analysis based on publicly available information and is not a recommendation to buy or sell any specific securities. Investment decisions are your own responsibility.