Mitsui Sugar revises earnings down, restructures production

DM Mitsui Sugar Holdings (TSE:2109) announced a downward revision of its consolidated earnings forecast for the fiscal year ending March 2025, primarily due to restructuring its domestic sugar production. The company will consolidate sugar production at DM Mitsui Sugar’s Fukuoka and Kobe plants by October 2026. Consequently, production at its subsidiaries, Kanmon Seito Co., Ltd., Hoei Hekkato Co., Ltd., and Nitto Sangyo Co., Ltd., will cease by the end of September 2026. This strategic shift will result in an extraordinary loss of approximately ¥5 billion, primarily from the impairment of fixed assets. Due to this loss, Mitsui Sugar reduced its net profit forecast attributable to the parent company from ¥9 billion to ¥5 billion. The company will absorb DM Mitsui Sugar on April 1, 2025, and change its trade name to DM Mitsui Sugar.