Yamae Group Holdings (7130): FY2025 Results Summary — Record-High Sales and All Profit Items on Active M&A

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

Note: Yamae Group Holdings 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. In line with this site’s fiscal-year naming convention, “FY2025” in the title refers to the company’s most recently completed fiscal year; the source materials label this period as the fiscal year ended March 2026, and the body and tables below follow the source labels.

Yamae Group Holdings reported consolidated results for the fiscal year ended March 2026 of net sales of ¥1,085.2 billion (107.8% of the previous year), operating profit of ¥18.0 billion (114.6%), ordinary profit of ¥18.6 billion (106.3%), and profit attributable to owners of parent of ¥11.0 billion (129.8%). The materials state that net sales and every profit item reached record highs. The food-related business and the sugar & flour and feed & livestock-related business performed steadily, and the series of M&A deals executed during the period also contributed to results.

Consolidated Results (Fiscal Year Ended March 2026)

According to the results highlights, gross profit was ¥135.5 billion (107.8% of the previous year), selling, general and administrative expenses were ¥117.4 billion (106.8%), and EBITDA was ¥31.4 billion (110.7%).

Item	FYE March 2026	FYE March 2025	Change	YoY
Net sales	¥1,085.2 billion	¥1,006.9 billion	+¥78.3 billion	107.8%
Gross profit	¥135.5 billion	¥125.7 billion	+¥9.7 billion	107.8%
SG&A expenses	¥117.4 billion	¥109.9 billion	+¥7.4 billion	106.8%
Operating profit	¥18.0 billion	¥15.7 billion	+¥2.2 billion	114.6%
Ordinary profit	¥18.6 billion	¥17.5 billion	+¥1.0 billion	106.3%
Profit attributable to owners of parent	¥11.0 billion	¥8.5 billion	+¥2.5 billion	129.8%
EBITDA	¥31.4 billion	¥28.4 billion	+¥3.0 billion	110.7%

Segment Results

By segment, net sales were ¥839.0 billion in the food-related business (versus ¥768.6 billion in the fiscal year ended March 2025), ¥126.9 billion in the sugar & flour and feed & livestock-related business (versus ¥116.0 billion), and ¥99.2 billion in the housing & real estate-related business (versus ¥98.7 billion). The materials state that sales increased on the steady performance of the food-related business and the sugar & flour and feed & livestock-related business. The other business posted ¥19.8 billion (versus ¥23.5 billion).

Segment	FYE March 2026 net sales	FYE March 2025 net sales
Food-related business	¥839.0 billion	¥768.6 billion
Sugar & flour and feed & livestock-related business	¥126.9 billion	¥116.0 billion
Housing & real estate-related business	¥99.2 billion	¥98.7 billion
Other business	¥19.8 billion	¥23.5 billion

Segment operating profit (before consolidation adjustments) was ¥12.9 billion in the food-related business (¥10.8 billion in the fiscal year ended March 2025), ¥4.1 billion in the sugar & flour and feed & livestock-related business (¥3.4 billion), ¥2.2 billion in the housing & real estate-related business (¥2.9 billion), and ¥1.1 billion in the other business (¥0.8 billion). The total of ¥20.4 billion (¥18.1 billion) is a figure before consolidation adjustments and does not agree with consolidated operating profit of ¥18.0 billion (¥15.7 billion).

M&A and Group Reorganization

During the period the group expanded through active M&A. The company made the Usa Panko group a subsidiary (July 2025), made Kobatake Shurui Hanbai a subsidiary (September 2025), made Ajisai Holdings a subsidiary (October 2025), made Sea Master Food Sdn Bhd (Malaysia) an equity-method affiliate through Yamae Global (October 2025), while Confex Holdings made Dolce a subsidiary (January 2026), and the company made Hiranoya a subsidiary (March 2026) and Marushin Seika a subsidiary (March 2026). In addition, after the fiscal year-end, the company made My Life Planning and Hasama Logistics Service subsidiaries in April 2026; these are not included in the consolidated results for the fiscal year ended March 2026.

Full-Year Forecast (Fiscal Year Ending March 2027)

For the fiscal year ending March 2027, the company forecasts consolidated net sales of ¥1,200.0 billion (110.6% of the previous year), operating profit of ¥22.0 billion (121.7%), ordinary profit of ¥23.0 billion (123.2%), and profit attributable to owners of parent of ¥12.5 billion (112.8%).

Item	FYE March 2027 (Forecast)	FYE March 2026 (Actual)	Change	YoY
Net sales	¥1,200.0 billion	¥1,085.2 billion	+¥114.7 billion	110.6%
Operating profit	¥22.0 billion	¥18.0 billion	+¥3.9 billion	121.7%
Ordinary profit	¥23.0 billion	¥18.6 billion	+¥4.3 billion	123.2%
Profit attributable to owners of parent	¥12.5 billion	¥11.0 billion	+¥1.4 billion	112.8%

Shareholder Returns

On dividends, the company disclosed an upward revision on March 10, 2026 in light of steady business performance, and the dividend per share for the fiscal year ended March 2026 was ¥80, an increase of ¥10 from ¥70 in the previous fiscal year (payout ratio of 20.0%). The dividend forecast for the fiscal year ending March 2027 is ¥80 (payout ratio of 17.8%). The shareholder benefit program was newly established in March 2025 and expanded in March 2026. Shareholders holding 100 or more but fewer than 300 shares continuously for one year or longer receive a Pizza Hut digital gift card worth ¥3,000, and those holding 300 shares or more receive one worth ¥5,000, enclosed with the notice of resolutions and other documents sent after the annual general meeting of shareholders held every June.

Fiscal year	Dividend per share	Payout ratio
FYE March 2025	¥70	22.7%
FYE March 2026	¥80	20.0%
FYE March 2027 (Forecast)	¥80	17.8%

Medium-Term Management Plan “Progress Go’25” Progress

In the final year of the medium-term management plan “Progress Go’25,” which covers fiscal 2023 through fiscal 2025 (the fiscal year ended March 2026), against the final targets revised in May 2024 (net sales of ¥1,000.0 billion, ordinary profit of ¥22.0 billion, and ROE of 10% or higher), actual net sales of ¥1,085.2 billion exceeded the target, while ordinary profit came to ¥18.6 billion and fell short of the target. The actual ROE figure is not stated in the materials and is treated as not disclosed. Against an investment plan totaling ¥90.0 billion, the company executed ¥93.5 billion in fiscal 2023 through fiscal 2025, an achievement rate of 103.9%.

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.