Sato Foods raises full-year earnings and dividend forecast

Sato Foods (TSE: 2923) announced upward revisions to its consolidated earnings forecast for the fiscal year ending April 2025. Sales are now projected at JPY 46.2 billion, up from the previous forecast of JPY 45 billion. Operating profit is expected to reach JPY 2.77 billion, compared to the earlier JPY 2.1 billion. Net profit attributable to owners of the parent is now forecast at JPY 2.12 billion, a significant increase from the previous JPY 1.71 billion. The company attributes this positive revision to heightened demand for ready-to-eat products like packaged rice and mochi, coupled with effective price adjustments to counter rising raw material and logistics costs. In addition, Sato Foods also raised its year-end dividend forecast to JPY 70 per share, including a JPY 5 commemorative dividend marking the company's 75th anniversary. The dividend proposal is subject to approval at the upcoming general shareholders' meeting in July 2025.