A weak third quarter
Fujiya Co., Ltd. (TSE: 2211) reported consolidated results for the first nine months of FY12/2026, January 1 to September 30, 2026, on October 26, 2026 under Japanese GAAP. Net sales rose 4.4% to ¥87,659 million, but in the July–September quarter sales fell well short of plan, hit by record-breaking rain, an earthquake in Kumamoto and consumers holding back as food prices rose. Product and price revisions and more efficient production lines could not absorb higher raw-material costs and depreciation from new investment, and the company posted an operating loss of ¥113 million, against a ¥1,069 million profit a year earlier. Ordinary profit fell 60.5% to ¥750 million and net profit attributable to owners of the parent 93.7% to ¥56 million. From the start of the year, Fujiya Vietnam became an equity-method affiliate.
Cake shops shrink; snack sales up but margins down
The Western confectionery segment, which runs the Fujiya cake shops and restaurants, saw sales fall 4.4% to ¥21,230 million as frugal shoppers visited less often, bad weather hit and the store count fell by 38 to 815; restaurant sales also declined after unprofitable outlets closed. Concentrating output on efficient factory lines, staffing changes and automation nonetheless narrowed its segment loss to ¥1,299 million from ¥1,477 million. The confectionery segment grew sales 7.9% to ¥63,715 million, with snacks up 5.9% to ¥59,288 million and beverages up 44.7% to ¥4,426 million, helped by character tie-ups and seasonal Country Ma'am flavours. But large-bag mainstays such as Country Ma'am and Home Pie fell well short of plan as shoppers cut back, and profit fell 22.7% to ¥4,423 million as cocoa beans, fats and depreciation on new gummy and natural-water lines weighed.
Balance sheet and revised outlook
Total assets fell 3.7% to ¥102,462 million, mainly on lower receivables, and net assets slipped 1.0% to ¥65,440 million, while the equity ratio rose to 58.2% from 57.0%. Citing recent trends, the company revised the full-year forecast it published on February 10 and now expects FY12/2026 net sales of ¥123,000 million (+2.9%), operating profit of ¥1,600 million (−43.7%), ordinary profit of ¥2,200 million (−39.1%) and net profit of ¥850 million (−58.2%). It still plans a year-end dividend of ¥30, unchanged from last year.
| Metric | 9M FY12/2026 | 9M FY12/2025 | Change |
|---|---|---|---|
| Net sales (¥ million) | 87,659 | 83,968 | +4.4% |
| Operating profit (¥ million) | −113 | 1,069 | profit to loss |
| Ordinary profit (¥ million) | 750 | 1,898 | −60.5% |
| Net profit attrib. to owners of parent (¥ million) | 56 | 907 | −93.7% |
| EPS (¥) | 2.20 | 35.21 | −93.8% |
| Western confectionery — revenue (¥ million) | 21,230 | 22,203 | −4.4% |
| Western confectionery — segment profit (¥ million) | −1,299 | −1,477 | loss narrowed |
| Confectionery — revenue (¥ million) | 63,715 | 59,046 | +7.9% |
| Confectionery — segment profit (¥ million) | 4,423 | 5,721 | −22.7% |
| Total assets (¥ million) | 102,462 | 106,366 | −3.7% |
| Net assets (¥ million) | 65,440 | 66,104 | −1.0% |
| Equity ratio | 58.2% | 57.0% | +1.2 pt |
| FY12/2026 guidance — revenue (¥ million) | 123,000 | — | +2.9% |
| FY12/2026 guidance — operating profit (¥ million) | 1,600 | — | −43.7% |
| FY12/2026 guidance — ordinary profit (¥ million) | 2,200 | — | −39.1% |
| FY12/2026 guidance — net profit (¥ million) | 850 | — | −58.2% |
| Annual dividend per share (¥) | 30.00 | 30.00 | unchanged |
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.