Kanemi Foods Co., Ltd. (TSE: 2669) reported non-consolidated first-quarter results under Japanese GAAP for the three months ended May 31, 2026 (Q1 FY2/2027). Revenue rose 3.7% year on year to ¥22,008 million, while operating profit jumped 148.1% to ¥751 million — roughly two-and-a-half times the ¥302 million posted a year earlier. Ordinary profit climbed 142.8% to ¥768 million and quarterly net profit rose 142.9% to ¥404 million from ¥166 million. Basic earnings per share came in at ¥42.78, up from ¥17.23.
Deli and prepared-food demand recovers
The sharp profit rebound came off a weak prior-year first quarter. As a maker of bento boxed meals, delicatessen items and prepared foods — including the in-store deli counters it operates inside convenience stores and its own outlets — Kanemi Foods benefited from recovering demand for ready-to-eat food, while tighter cost control lifted margins sharply. The operating margin widened to roughly 3.4% from about 1.4% a year earlier, so a modest 3.7% top-line gain translated into a far larger profit increase.
Balance sheet stays conservative
Total assets stood at ¥39,469 million at the end of the quarter, up from ¥38,355 million at the prior fiscal year-end, while net assets were ¥30,048 million. The equity ratio was a robust 76.1%, and book value per share reached ¥3,174.19, underlining a debt-light, cash-generative business.
Dividend forecast held at ¥38
Management kept its FY2/2027 dividend forecast unchanged from the prior year at ¥38.00 per share, split into an interim payment of ¥19.00 and a year-end payment of ¥19.00.
Full-year guidance lifts operating profit
For the full year to February 28, 2027, Kanemi Foods guides for revenue of ¥92,000 million (+6.1%), operating profit of ¥3,260 million (+18.2%) and ordinary profit of ¥3,300 million (+14.6%). Net profit is guided slightly lower at ¥1,760 million (−2.6%), reflecting a one-off benefit in the prior year, with forecast EPS of ¥185.90. The strong first quarter already represents about 23% of the full-year operating-profit target.
| Metric | Q1 FY2/2027 | Q1 FY2/2026 | YoY |
|---|---|---|---|
| Revenue (¥m) | 22,008 | 21,206 | +3.7% |
| Operating profit (¥m) | 751 | 302 | +148.1% |
| Ordinary profit (¥m) | 768 | 316 | +142.8% |
| Net profit (¥m) | 404 | 166 | +142.9% |
| Basic EPS (¥) | 42.78 | 17.23 | +148.3% |
| Equity ratio | 76.1% | — | — |
| Annual dividend forecast (¥) | 38.00 | 38.00 | Unchanged |
| FY2/2027 revenue guidance (¥m) | 92,000 | — | +6.1% |
| FY2/2027 operating profit guidance (¥m) | 3,260 | — | +18.2% |
| FY2/2027 net profit guidance (¥m) | 1,760 | — | -2.6% |
JapanStockPulse provides informational content only and does not constitute investment advice. Figures are taken from the company's published earnings short report and may be subject to subsequent revision.