Kakiyasu is offering investors a familiar sort of comfort: not growth, exactly, but continuity. Sales in the year to April 2026 were ¥36,072 million, down 0.1%, while operating profit fell 4.9% to ¥1,426 million and ordinary profit slipped 4.2% to ¥1,473 million. Net profit rose 15.7% to ¥811 million, though the company did not spell out a single headline driver for that increase in the summary tables.
The dividend is the steadier line. Kakiyasu held the annual payout at ¥85 a share for the year just ended and is guiding for the same ¥85 in the current year. On the company’s own figures, that means a payout ratio of 100.4% for the latest year and 101.8% for the current one. Cash and cash equivalents ended April at ¥8,052 million, and operating cash flow was positive at ¥1,541 million.
Management’s outlook suggests more grind than rebound. It forecasts sales of ¥36,000 million, operating profit of ¥1,400 million, ordinary profit of ¥1,450 million and net profit of ¥800 million for the year ending April 2027, all slightly below the latest actuals. Kakiyasu said higher raw-material costs, labour shortages and persistent household thriftiness are still shaping the market.
Under the hood, the pressure was uneven. Meat segment profit rose 31.3%, but prepared foods profit fell 21.8%, the restaurant unit remained loss-making, and the food business saw profit fall 30.6%. For a food retailer trying to look dependable, that is a workable result, just not an expansive one.