House Foods Group Reports 185.3% Jump in Q1 Net Profit; Full-Year Operating Profit Forecast Cut Only for Spice and Seasoning Business

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Summary · why it matters

House Foods Group reported on August 4 its first-quarter results for the fiscal year ending March 2027, with net sales of 75.139 billion yen (down 0.7% year on year), operating profit of 4.001 billion yen (up 17.1%), ordinary profit of 4.494 billion yen (up 22.6%), and quarterly net profit of 5.136 billion yen (up 185.3%). The sharp rise in net profit was a one-off factor stemming from a gain on the sale of investment securities, while the decline in net sales reflected the transfer of the prepared food subsidiary Delica Chef in the fourth quarter of the previous fiscal year. The spice and seasoning business, the largest of the five business segments in both net sales and operating profit, performed strongly with net sales of 31.327 billion yen (up 5.3%) and operating profit of 1.630 billion yen (up 39.7%). Meanwhile, the restaurant business, centered on Ichibanya, which operates Curry House CoCo Ichibanya, posted net sales of 16.972 billion yen (up 7.8%) but operating profit of 752 million yen (down 19.3%), a decline in profit. The company revised its full-year forecast for the fiscal year ending March 2027, citing higher costs due to the situation in the Middle East. It left net sales unchanged at 322.5 billion yen, but cut its operating profit forecast to 17.5 billion yen, down 5.4% from the previous 18.5 billion yen, and its ordinary profit forecast to 18.7 billion yen, down 5.1% from the previous 19.7 billion yen, while keeping its net profit forecast at 17 billion yen. The downward revision was concentrated in the spice and seasoning business, whose operating profit forecast was lowered to 11.4 billion yen, down 8.1% from the previous 12.4 billion yen, with forecasts for the other four segments left unchanged.

Impact on assets 2

Consumer Staples▲ · 1 stocks
House Foods Group Inc.
2810
± MixedCapitalrelevance

Q1 net profit jumped 185.3% on a one-off securities sale gain, but full-year operating profit forecast was cut on Middle East cost pressures.

Consumer Discretionary▼ · 1 stocks
Ichibanya Co., Ltd.
7630
▼ NegativeCapitalrelevance

Restaurant business centered on Ichibanya saw operating profit fall 19.3% despite higher net sales.

Off-coverage companies 1

Delica Chef Co., Ltd.Private± Mixed
relevance

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