Grantomato, a distributor listed on the TOKYO PRO Market, has cut its full-year forecast for the second time and cancelled its year-end dividend. The board decided both on 7 October 2026. The company blames rice prices that kept falling after its April revision, and a decision to sell old-crop stock rather than risk holding it.
A wider loss
The revised forecast covers the year from 1 September 2025 to 31 August 2026. Grantomato now expects sales of ¥20.43bn, an operating loss of ¥754mn, an ordinary loss of ¥880mn and a net loss of ¥778mn, or ¥374.74 per share. The forecast published on 8 April 2026 had sales of ¥20.81bn, an operating loss of ¥225mn, an ordinary loss of ¥348mn and a net loss of ¥384mn, or ¥186.11 per share. The previous year produced a ¥710mn operating profit and a ¥456mn net profit.
These are forecasts, not reported results. The company changed its outlook, and final figures for the year have not been published in the notice.
Selling into a falling market
Grantomato says rice prices fell beyond its earlier assumption. It put avoiding future unsold stock first and sold on a timed basis as it watched the market. That meant booking what it calls large sales losses from sharply lower unit selling prices in its agricultural produce distribution division, which it expects to land well below the previous forecast.
The company says its main store sales, fulfilment-centre and internet sales, and rice retail businesses held up, but not enough to absorb the swing in the distribution division. These are management's own characterisations.
Grantomato says it has used up almost all of the 2025-crop rice covered by this issue and largely completed sales. On that basis it expects further price declines to have a limited effect on company-wide results through inventory write-downs. It says it will watch supply, demand and prices as the 2026-crop harvest reaches full distribution from early autumn.
No year-end dividend
The board also decided not to pay a year-end dividend for the year, against a prior forecast of ¥40 per share. That dividend would have totalled ¥82mn, and the company paid ¥40 per share for the year to August 2025. The company cites the guidance cut and the net loss, and says uncertainty over rice prices and supply and demand makes preserving financial health and retained earnings its priority. It says it will work toward an early recovery and a return to dividends, without giving a date.
The figures describe one small distributor's exposure, according to its own notices, and say nothing about rice prices nationally.