Kikkoman revises full-year 2026 outlook, lifts profit and capital expenditure forecasts

Kikkoman Corporation has revised its full-year consolidated earnings forecast for fiscal year ending March 31, 2026, following stronger-than-expected performance in the first half. The revised forecast now projects total revenue of 731,000 million yen (previously 744,500 million yen), business profit of 78,000 million yen (previously 77,600 million yen), operating profit of 75,000 million yen (previously 75,200 million yen), and profit attributable to owners of the parent of 60,000 million yen (previously 59,600 million yen). This adjustment reflects the consolidated business results for H1 FY2026, with a yen/USD exchange rate of 146.57 for the first half, compared to the previously forecasted 145.0 yen/USD.

For the six-month period ended September 30, 2025 (H1 FY2026), Kikkoman reported consolidated revenue of 358,610 million yen, business profit of 41,236 million yen, operating profit of 39,633 million yen, and profit attributable to owners of the parent of 31,315 million yen. This represents a 0.9% increase in revenue year-on-year, but decreases in business profit (3.2%), operating profit (5.6%), and profit attributable to owners of the parent (9.9%) compared to H1 FY2025.

Domestic Foods-Manufacturing and Sales recorded a 3.1% revenue increase and a 10.7% business profit increase for H1 FY2026. Overseas Foods-Manufacturing and Sales saw a 0.5% revenue increase, while Overseas Foods-Wholesale experienced a 0.2% revenue increase. Full-year capital expenditures are now forecast at 70,000 million yen (previously 46,835 million yen) with depreciation and amortization at 27,300 million yen (previously 26,917 million yen).