Kyokuyo Co., Ltd. · TSE:1301
Kyokuyo — FY2024 Earnings Presentation
42 slides from Kyokuyo's earnings presentation, May 2025
Slide 1: IR Presentation Materials: Financial Results for FY2024
IR Presentation Materials: Financial Results for FY2024 May 2025 KYOKUYO CO., LTD. (Tokyo Stock Exchange Prime Section Securities Code: 1301) * The company has applied “Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29, March 31, 2020), etc. from the beginning of the first quarter
Slide 2: Contents
Contents １. FY2024 Review pp.3-6 ２. Forecast for FY2025 pp.7-10 ３. FY2024 Performance pp.11-18 ４. Status by Segment pp.19-27 ５. Shareholder Returns pp.28-29 Reference Materials P30～38
Slide 3: 1. FY2024 Review
rexa73y 1. FY2024 Review Copyright ©Kyokuyo Co.,Ltd. All Rights Reserved. 3
Slide 4: FY2024 Highlights
FY2024 Highlights Profit attributable to Net sales Operating profit Ordinary profit owners of parent 302.6 bn yen 11 bn yen 10.8 bn yen 6.7 bn yen Y-o-Y +41 bn yen Y-o-Y +2.2 bn yen Y-o-Y +2 bn yen Y-o-Y 0.8 bn yen （+15.7％） （+25.8％） （+22.6％） （+13.5％） (Billions of yen) 302.6 11.0 10.8 8.8 8.8 6.7 272
Slide 5: Progress in Priority Measures of the Medium-term Business Plan
Progress in Priority Measures of the Medium-term Business Plan Perspective Globalization Expanding business base Expanding Overseas Businesses Medium-term Business Plan Targets FY2026 Overseas net sales ratio 15% or more（60bn yen） Overseas net sales (Overseas net sales ratio) (Billions of yen) FY202
Slide 6: Progress in Priority Measures of the Medium-term Business Plan
Progress in Priority Measures of the Medium-term Business Plan Perspective Four businesses Expanding business base ➢ Kyokuyo Shokuhin Co., Ltd. Kurayoshi Plant started operation to produce Kurayoshi Plant frozen foods for home use [March 2025] Raised our production capacity and nationwide logistics
Slide 7: 2. Forecast for FY2025
rexa73y 2. Forecast for FY2025 Copyright ©Kyokuyo Co.,Ltd. All Rights Reserved. 7
Slide 8: Consolidated Performance Forecast & Medium-term Plan Targets
Consolidated Performance Forecast & Medium-term Plan Targets Net sales 302.6 bn yen ３５０bn yen ４００bn yen Operating 11bn yen １２.５bn yen １３.５bn yen profit Ordinary 10.8bn yen １２.５bn yen １３.５bn yen profit
Slide 9: Capital Investment Plan
Capital Investment Plan FY2025 Overview Plan Major Investments Production plant-related 0.5bn yen Laboratory-related 0bn yen Advance DX Sea-based aquaculture business 0.1bn yen 0.5bn yen for systems implementation, Kyokuyo etc. IT-related & other 0.6bn yen Total 1.2bn yen Installation and renovation
Slide 10: Roadmap to Medium-term Plan Targets
Roadmap to Medium-term Plan Targets FY2024 FY2025 FY2026 Marine Promotion of high-added- Reduction of volatility Generation of steady For a strong value products cash flows Products Business Improving the ability to respond to the marine products market under Kyokuyo No.1 inflationary conditions Fis
Slide 11: 3. FY2024 Performance
rexa73y 3.FY2024 Performance Copyright ©Kyokuyo Co.,Ltd. All Rights Reserved.
Slide 12: Consolidated Statements of Income
Consolidated Statements of Income （Millions of yen） Net sales Record high 41,077 15.7% 300,000 100.9% Operating profit Record high 2,273 25.8% 10,000 110.8% Ordinary profit Record high 2,001 22.6% 10,000 108.6% Profit attributable to owners of parent Record high 803 13.5% 7,000 96.3% ➢ Net sales, Op
Slide 13: Operating Income by Segment
Analysis of Changes in Net Sales and Operating Income by Segment （Millions of yen） Net sales +326 +67 +27 302,681 +2,028 +38,627 261,604 Operating profit +1,367 +5 +198 11,079 +914 8,806 -212
Slide 14: Consolidated Balance Sheet
Consolidated Balance Sheet （Millions of yen） Assets Liabilities Current assets 124,297 134,260 9,963 Current liabilities 70,659 74,995 4,335 Notes and accounts 8,417 10,004 1,587 payable-trade Notes and accounts 34,677 36,935 2,257 Short-term borrowings receivable-trade (including commercial 45,340
Slide 15: Consolidated Cash Flows
Consolidated Cash Flows （Millions of yen） Profit before income taxes 8,555 10,848 2,293 Depreciation 2,427 2,624 197 Decrease (increase) in trade -1,281 -527 754 receivables Cash flows from operating activities Decrease (increase) in inventories -8,055 -2,710 5,344 Increase (decrease) in trade payab
Slide 16: Consolidated Finance-Related Metrics
Consolidated Finance-Related Metrics Changes in Consolidated Financial Metrics FY2020 FY2021 FY2022 FY2023 FY2024 Y-o-Y Equity (millions of yen) 40,382 42,705 47,541 58,976 66,515 7,538 Interest-bearing debt 51,174 58,121 68,973 74,625 80,746 6,121 (millions of yen) Total assets (millions of yen) 11
Slide 17: Capital Investment Results
Capital Investment Results Overview FY2024 Major Investments Production plant- related 1.4bn yen Laboratory-related 0bn yen ・Frozen foods for home use plant in Tottori, Sea-based 0.1bn yen Japan ‘Kurayoshi Plant, Kyokuyo Foods Co. ’ Kyokuyo aquaculture business 0.4bn yen 1.1bn yen IT-related & other
Slide 18: Depreciation Results
Depreciation Results （Millions of yen） FY2022 FY2023 FY2024 results results results Depreciation 2,264 2,427 2,624
Slide 19: 4. Status by Segment
rexa73y 4 .Status by Segment
Slide 20: Status by segment
Status by segment Net Sales and Profit by Segment （Millions of yen） Marine Products 130,040 168,668 38,627 5,195 6,109 914 200,000 7,000 Business Freshfoods 63,821 65,850 2,028 2,248 3,615 1,367 73,700 3,700 Business Processed Food 65,614 65,940 326 2,658 2,446 -212 74,000 3,300 Business Logistics 1
Slide 21: Status by segment
Status by segment （Millions of yen） Logistics Business Logistics Business Proportion of total in parentheses 1,667 Other 294 Other （0.6％） 554 （2.3％） 254 Processed Food Processed Food Marine Products Business Business Business 65,940 2,446 6,109 （21.8％） （19.2％） （48.0％） Net Sales Marine Products Opera
Slide 22: Status by segment: Marine Products Business
Status by segment ➢ Marine Products Business （Millions of yen） Net Sales Profit 170,000 8,000 168,668 [ Higher sales, higher profit ] Y-o-Y＋29.7％ 140,000 6,000 （Domestic sales） 130,040 6,109 Y-o-Y＋17.6％ •Although the sales of salmon and crab slowed down after January, 5,195 strong sales until the ye
Slide 23: Status by segment: Freshfoods Business
Status by segment （Millions of yen） ➢ Freshfoods Business 67,000 Net Sales Profit 8,000 65,850 Y-o-Y＋3.2％ [ Higher sales, higher profit ] 6,000 （Sales of Tuna ＆ Skipjack business） 64,000 63,821 •Sales of frozen bluefin tuna to restaurants and mass-market retailers 3,615 4,000 expanded. Y-o-Y＋60.8％ 2
Slide 24: Status by segment: Processed Food Business
Status by segment ➢ Processed Food Business （Millions of yen） Net Sales Profit [ Higher sales, lower profit ] 70,000 65,940 6,000 65,614 5,000 Y-o-Y ＋0.5％ （ Frozen foods for industrial use） 60,000 4,000 •Whole sales declined, including fried seafood products which was 2,446 3,000 intensifying compet
Slide 25: Status by segment: Logistics Business
Status by segment ➢ Logistics Business （Millions of yen） Net Sales Profit [ Higher sales, higher profit ] 1,700 1,599 1,667 400 Y-o-Y ＋4.2％ 294 1,400 300 （Cold storage business） 289 Y-o-Y ＋1.8％ • Storage earnings increased as storage capacity ratio remained at a high 1,100 200 level. • Sales and pro
Slide 26: FY2025 Measures by Segment
FY2025 Measures by Segment Business Environment 【Marine Products Business】 Forecast ⚫ Expand volume of marine products handled by developing business partners, etc. No.1 Fish Retailer in Japan The convert from ⚫ Improved ability to respond to fluctuations in the seafood market under inflationary def
Slide 27: FY2025 Measures by Segment
FY2025 Measures by Segment 【Processed Food Business】 Business Environment ＜ Frozen foods ＞ Forecast ⚫ Expand earnings by building a sales structure centered on products manufactured in Saving orientation the company's own factories. due to high prices. ⚫ (Industrial use)： Raise sales volume by stren
Slide 28: 5. Shareholder Returns
rexa73y 5 . Shareholder Returns
Slide 29: Shareholder Returns
Shareholder Returns We consider proper returns of profits to shareholders to Dividend per DOE be one of the key points in our business management. In share addition to greater retained earnings to strengthen our corporate organization and lay the groundwork for future FY2021 ９０yen 2.3％ business expa
Slide 30: Reference Materials
rexa73y Reference Materials
Slide 31: Reference Materials (1)
Reference Materials (1) Marine Products Business ＜Non-consolidated＞ Net Sales and Unit price of each seafood type by year （Millions of yen） （yen／kg） 50,000 1,600 ＊Unit prices=Average 45,000 for each fiscal year 1,400 40,000 Salmon and 1,200 trout 35,000 Nothern ocean 1,000 fish 30,000 Shrimp Net Sal
Slide 32: Reference Materials (2)
Reference Materials (2) Freshfoods Business Segment Bluefin tuna farming business Sales weight･amount （tons） Weight （ Millions of yen ） 1000 Amount 3,000 900 2,500 800 700 2,000 600 500 1,500 400 1,000 300 200 500 100 0 0 FY2020 FY2021 FY2022 FY2023 FY2024
Slide 33: Reference Materials (3)
Reference Materials (3) Fish price = average for full year （tons） Weight Fish price （yen/kg） 40,000 300 35,000 280 30,000 260 25,000 240 20,000 220 15,000 200 10,000 180 5,000 160 0 140 FY2020 FY2021 FY2022 FY2023 FY2024
Slide 34: Reference Materials (4)
Reference Materials (4) Breakdown of sales FY2024（65.940 billion yen） in Processed Food Business FY2023（65.614 billion yen） By temperature range By industry type ■ Frozen Food Business ■ Shelf-Stable Food Business ■For industrial use ■ For home use 100% 15.6 15.6 90% billion billion （24％） （24％） 80%
Slide 35: Reference Materials (5): ESG Topics
Reference Materials (5) ESG Topics ➢ Sponsorship of the Japan Canoe Federation We support the activities of Japanese national team athletes and the Japan Canoe Federation as part of environmental conservation activities that convey to society “the concept of coexisting with nature” and “the importan
Slide 36: Reference Materials (6)
Reference Materials (6) ➢ Consolidated Performance by Year (Millions of yen) FY2020 FY2021 FY2022 FY2023 FY2024 Net sales 249,197 253,575 272,167 261,604 302,681 Cost of sales 223,620 225,558 241,139 228,213 263,861 Gross profit 25,576 28,016 31,027 33,390 38,819 Selling & general administrative 20,
Slide 37: Reference Materials (7)
Reference Materials (7) ➢ Consolidated Financial Metrics by Year FY2020 FY2021 FY2022 FY2023 FY2024 Net assets (millions of yen) 39,975 42,174 46,966 58,860 68,355 Interest-bearing debt 51,174 58,121 68,973 74,625 80,746 (millions of yen) Inventory turnover period 46.7days 55.5days 65.5days 78.1days
Slide 38: Notes of Caution Regarding Forecasts
Notes of Caution Regarding Forecasts These materials are created with the purpose of providing information about performance as at March 31, 2025 and our future management vision. Earning forecasts and estimates in these materials are based on the information currently available and include potentia
Slide 39: Marine Products Business: Business flow
Marine Products Attachment 1 : Business flow Business Sales destination ・Processing business operators Domestic sales ・Food manufacturers Raw Sales ・Wholesale market materials ・Wholesalers ・Supermarkets Procuring from ・Restaurant industry around the world (Salmon and trout , Shrimp, Mackerel, etc.)
Slide 40: Freshfoods Business: Business flow
Freshfoods Business Sales destination Procurement Tuna Skipjack Raw material sales ・Wholesale market (Catch by our own vessels , Purchasing) ・Processing business operators Business ・Food manufacturers Tuna Procurement Processed product sales Sales destination (Purchasing, ・Block ・Conveyor belt sushi
Slide 41: Processed Food Business: Business flow
Processed Food Strength in marine materials Business For industrial use Production Sales destination Frozen Food Sales ・Supermarkets (deli counters) (Our own plants , Affiliated factories) ・Izakaya (Japanese-style pubs) ・Simmered fish ・Restaurants ・Grilled fish ・Industrial food service ・Imitation cr
Slide 42: Logistics Business: Business flow
Logistics We do not develop transportation services by truck. Business Main business is storage and delivery arrangement of marine products and food products of the Kyokuyo Group. Overseas Marine Products Suppliers Our own plants Storage Delivery Delivery Destination arrangements (Processed marine p