Yamazaki Baking sees strong Q3 growth, raises full-year outlook, dividend

Yamazaki Baking announced a significant increase in its consolidated operating results for the nine months ended September 30, 2025. Net sales rose 5.3% year-on-year to JPY 968,100m, while operating profit climbed 15.3% to JPY 44,718m. Ordinary profit increased 12.2% to JPY 46,317m, and profit attributable to owners of parent grew 10.9% to JPY 29,725m. This strong performance was driven by new technology for quality improvement in bread products and successful product development across various segments.

In light of the strong third-quarter results, Yamazaki Baking revised its full-year consolidated earnings forecast for the fiscal year ending December 31, 2025. The company now projects net sales of JPY 1,303,000m (up 0.8% from previous forecast), operating profit of JPY 59,000m (up 2.6%), ordinary profit of JPY 61,500m (up 3.4%), and profit attributable to owners of parent of JPY 39,000m (up 2.6%). The annual dividend forecast has also been raised to JPY 50.00 per share.

The company's consolidated financial position as of September 30, 2025, shows total assets of JPY 875,098m, a 1.16% increase from December 31, 2024. Net assets reached JPY 480,579m, with an equity-to-asset ratio of 49.3%, up from 47.6% at the end of the previous fiscal year.