Shoei Foods revises forecasts, announces share repurchase plan

Shoei Foods Corporation (TSE: 8079) announced revisions to its consolidated earnings forecasts for both the first half and full fiscal year ending October 31, 2025, alongside a resolution to acquire its own shares. For the first half, sales exceeded initial forecasts by 10.5%, reaching JPY65.76 billion, although profit attributable to owners of the parent declined 11.1% to JPY1.73 billion due to extraordinary losses. The full-year sales forecast has been revised upward to JPY120 billion from JPY115 billion, but profit attributable to owners of the parent is expected to decrease from JPY3 billion to JPY2.75 billion, a change of -8.3%. To boost shareholder value and capital efficiency, the company's Board of Directors has resolved to acquire up to 300,000 of its own common shares for a total cost of JPY1.203 billion, which is 1.78% of total number of issued shares (excluding treasury shares). This acquisition will occur on June 16, 2025, through the Tokyo Stock Exchange's ToSTNeT-3 system at a price of JPY4,010 per share.