Calbee's operating profit climbed 24.4% to ¥6.59bn in the three months to June, as staggered price increases and growth in Greater China and Indonesia outran a domestic potato-supply problem that has been squeezing one of its best-known snacks.
Net sales for the quarter rose 5.5% to ¥86.76bn, and the operating margin widened 1.2 percentage points to 7.6%. Ordinary profit rose 26.1% to ¥6.66bn, and net profit attributable to shareholders rose 15.2% to ¥4.09bn.
| Metric | Quarter to June 2025 | Quarter to June 2026 | Change |
|---|---|---|---|
| Net sales | ¥82.23bn | ¥86.76bn | +5.5% |
| Operating profit | ¥5.30bn | ¥6.59bn | +24.4% |
| Ordinary profit | ¥5.28bn | ¥6.66bn | +26.1% |
| Net profit attributable to parent | ¥3.55bn | ¥4.09bn | +15.2% |
At home, Calbee's food business grew 2.0% to ¥62.98bn. Price and specification revisions, plus steady demand for wheat-based snacks, made up for falling cereal volumes. Its cup-shaped potato-stick snack brought in ¥12.41bn, down 1.3%, as a smaller potato harvest last autumn continued to limit supply. Potato chips did better, up 2.4% to ¥25.97bn on steady sales of standard flavors and a firmer-cut variety. Cereal sales fell 3.9% to ¥7.83bn as the category itself contracted.
Overseas revenue rose 16.2% to ¥23.78bn, or 5.6% in local-currency terms, helped by the consolidation of US plant-protein maker Hodo, Inc. since last August and by currency effects. Asia-Oceania sales rose 22.2% (10.3% in local currency), led by growth across Greater China and Indonesia. In Greater China, growth came from higher sales to local retail stores for potato chips, the Jagabee brand (increasingly made under local contract manufacturing), and a cereal product. Europe and the Americas grew 15.6% (5.4% local currency), but Calbee's existing North American business, excluding its food-and-health unit, shrank 1.5% in local currency as declining contract-manufacturing volumes offset steady sales of the Harvest Snaps brand and another Japan-origin snack line.
Calbee said cost pressure tied to conditions in the Middle East has begun to show up but remained limited in the quarter, and that it is prioritizing stable product supply while working on countermeasures for rising input costs.
Despite the strong quarter, Calbee left its full-year forecast unchanged from the guidance it issued on 14 May: net sales of ¥370bn (up 8.8%), operating profit of ¥26.2bn (up just 0.1%), and a dividend of ¥69 per share, up from ¥66 last year. A 24% jump in first-quarter profit against a full-year profit guide that barely moves suggests management expects the cost pressures it now calls limited to bite harder later in the year.
Total assets fell to ¥323.76bn from ¥327.61bn at the end of March, mainly because cash and deposits dropped after a dividend payment, and the equity ratio slipped to 64.1% from 64.3%.