Major Consolidated Index

Unit : millions of yen
  2022.3
Actual		 2023.3
Actual		 2024.3
Actual		 2025.3
Actual		 2026.3
Forecast
Revenue 516,440 618,899 660,835 708,979 744,500
Revenue YoY Change (%) 17.5 19.8 6.8 7.3 5.0
Business Profit 52,273 58,777 73,402 77,275 77,600
Business Profit Ratio (%) 10.1 9.5 11.1 10.9 10.4
Business Profit YoY Change (%) 22.6 12.4 24.9 5.3 0.4
Operating Profit 50,682 55,370 66,733 73,698 75,200
Operating Profit Ratio (%) 9.8 8.9 10.1 10.4 10.1
Operating Profit YoY Change (%) 21.6 9.2 20.5 10.4 2.0
Profit before Income Taxes 54,231 60,797 75,605 83,754 81,800
Profit before Income Taxes Ratio (%) 10.5 9.8 11.4 11.8 11.0
Profit before Income Taxes YoY Change (%) 25.6 12.1 24.4 10.8 (2.3)
Profit for the Year Attributable to Owners of the Parent 38,903 43,733 56,441 61,695 59,600
Ratio of Profit for the Year Attributable to Owners of the Parent to Revenue (%) 7.5 7.1 8.5 8.7 8.0
Profit for the Year Attributable to Owners of the Parent YoY Change (%) 24.9 12.4 29.1 9.3 (3.4)
Comprehensive Income for the Period Attributable to Owners of the Parent 61,686 66,665 106,304 55,170 -
Unit: yen
  2022.3
Actual		 2023.3
Actual		 2024.3
Actual		 2025.3
Actual		 2026.3
Forecast
Basic Earnings per Share 40.59 45.67 59.19 64.99 62.78
Diluted Earnings per Share - - - - -
Cash Dividends per Share 61 78 104 25 25
Dividend Payout Ratio (Consolidated) (%) 30.1 34.2 35.1 38.5 39.8
Unit : millions of yen
  2022.3
Actual		 2023.3
Actual		 2024.3
Actual		 2025.3
Actual		 2026.3
Forecast
Total Equity 363,907 416,969 498,255 516,049 -
Equity Attributable to Owners of the Parent 357,816 410,513 491,355 508,539 -
Equity Attributable to Owners of the Parent per Share (yen) 373.63 428.78 516.42 539.54 -
Total Assets 503,061 566,385 667,877 679,414 -
Equity Attributable to Owners of the Parent to Total Assets (%) 71.1 72.5 73.6 74.8 -
D/E Ratio (%) 13.1 13.2 12.8 12.2 -
Ratio of Dividend to Equity Attributable to Owners of the Parent (consolidated) (%) 3.5 3.9 4.4 4.7 -
ROE Attributable to Owners of the Parent (%) 11.7 11.4 12.5 12.3 -
Ratio of Profit before Income Taxes to Total Assets (%) 11.5 11.4 12.3 12.4 -
Return on Invested Capital (ROIC) (%) 10.4 10.2 11.2 11.1 -
Weighted average cost of capital (WACC) (%) 6.5 6.3 6.8 7.1 -
  2022.3
Actual		 2023.3
Actual		 2024.3
Actual		 2025.3
Actual		 2026.3
Forecast
Share Price at End of Period (before split) (yen) 8,130 6,740 9,845 - -
Share Price at End of Period (after split) (yen) 1,626 1,348 1,969 1,441 -
PER (times) 40.1 29.5 33.3 22.2 -
Unit : millions of yen
  2022.3
Actual		 2023.3
Actual		 2024.3
Actual		 2025.3
Actual		 2026.3
Forecast
Cash Flows From Operating Activities 52,093 59,197 80,807 73,978 -
Cash Flows From Investing Activities (16,105) (26,620) (42,994) (38,456) -
Cash Flows From Financing Activities (17,900) (20,379) (31,418) (46,086) -
Cash and Cash Equivalents at End of Period 79,229 99,347 119,159 106,184 -
Free Cash Flows 32,730 32,755 49,838 33,367 -
Free Cash Flows per Share (yen) 34.15 34.21 52.27 35.15 -
Unit : millions of yen
  2022.3
Actual		 2023.3
Actual		 2024.3
Actual		 2025.3
Actual		 2026.3
Forecast
Interest-bearing Debt 46,704 54,145 63,101 62,246 -
Capital Expenditures 24,617 38,228 43,501 46,835 72,500
Depreciation and Amortization 20,041 22,252 24,020 26,917 28,700
R&D Costs 4,892 5,174 5,067 5,362 -
Net Financial Income (Loss) 430 1,704 3,619 4,759 -
Average Term Exchange Rate (yen/US$) 112.86 134.95 144.40 152.48 145.00
Number of Employees (people) 7,686 7,775 7,521 7,716 -
Average Number of Temporary Workers (people) 633 612 568 515 -
Shares Issued and Outstanding at End of
Period (pre-split) (thousand)		 191,537 191,477 190,293 - -
Shares Issued and Outstanding at End of
Period (after split) (thousand)		 957,687 957,386 951,467 942,534 -

(Notes)

  1. 1Revenue does not include consumption and other taxes.
  2. 2Free cash flows = Cash flows from operating activities
    - Cash used for the acquisition of property, plant and equipment and intangible assets
    + Cash provided from the sale of property, plant and equipment and intangible assets
  3. 3Interest-bearing debt refers to all liabilities on the consolidated statement of financial position on which interest is paid.
  4. 4Net financial income(loss) = Interest and dividend income - Interest expense
  5. 5Equity attributable to owners of the parent = Total equity - Share acquisition rights - Non-controlling interest
  6. 6D/E ratio = Interest-bearing debt/Equity attributable to owners of the parent
  7. 7Shares issued and outstanding at end of period is computed, excluding treasury stock.
  8. 8Business profit = Revenue - Cost of sales - Selling, general and administrative expenses
  9. 9Return on invested capital (ROIC) = Profit before interest after tax / (Average of interest-bearing debt at beginning and end of the period + Average of total equity at beginning and end of the period)
  10. 10The weighted average cost of capital (WACC) is the capital structure weighted average of cost of debt and cost of equity, which is the risk-free rate plus the product of β and the market risk premium.
  11. * The risk-free rate is the average rate for the most recent one year of 10-year JGBs.
  12. * β, or the beta coefficient, is a 5-year weekly beta of Kikkoman Corporation.
  13. * The market risk premium is set at 6% based on the deviation between the risk-free rate and the average total return of the stock market over the past years.
  14. 11Effective on April 1, 2024, the Company conducted a 5-for-1 stock split for its common stock. To reflect this transaction, basic earnings per share, equity attributable to owners of the parent per share, and free cash flow per share are calculated as if the stock split had been conducted at the beginning of Fiscal 2021. For the share price at the end of period and the number of shares issued at the end of period, the figures calculated as if the stock split had been conducted at the beginning of Fiscal 2021 and those before the stock split are both presented.
    For annual dividends per share, the figures for the fiscal year ended March 31, 2024 and before represent the actual dividends paid before the stock split.

As for the data for years prior to listed above, please refer to our Factbook.

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