Yakult Honsha cut its full-year forecasts for sales, operating profit and ordinary profit on 13 November 2026, even as consolidated sales for the six months to September rose 3.6% to ¥249.9bn. The company left its net profit forecast unchanged at ¥46.5bn.
The revision
The earnings release sets the revised full-year figures against the forecast the company published on 12 May 2026.
| Item | Previous | Revised | Change |
|---|---|---|---|
| Net sales | 527,000 | 510,000 | -17,000 (-3.2%) |
| Operating profit | 44,000 | 43,000 | -1,000 (-2.3%) |
| Ordinary profit | 57,500 | 55,500 | -2,000 (-3.5%) |
| Profit attributable to owners of parent | 46,500 | 46,500 | unchanged |
The company said the revision reflects recent sales trends.
Why the outlook weakened
In Japan, Yakult said prolonged price rises have lifted thriftiness among shoppers, and it expects dairy sales to fall below plan. Sales in the Japan beverage and food segment fell 7.6% to ¥109.7bn in the half, and the company said both dairy products and soft drinks ran below the prior year. It attributed that to the harsh market conditions created by price increases.
Overseas, the company named two expected shortfalls against plan. In the Americas, it cited weaker purchasing appetite linked to US tariff policy. In Asia and Oceania, it pointed to depressed consumption in China as the economy slows. Both are the company's own explanations.
Growth abroad, softer profit
The half-year sales gain came from outside Japan. Americas segment sales rose 20.7% to ¥52.6bn, Asia and Oceania rose 14.4% to ¥73.0bn, and Europe rose 15.3% to ¥7.2bn.
Profit did not follow. Operating profit fell 6.9% to ¥23.6bn, ordinary profit fell 9.4% to ¥32.8bn, and profit attributable to owners of the parent fell 2.0% to ¥24.0bn.
The release also shows the company's interim dividend at ¥36 per share, with the full-year dividend forecast at ¥72, unchanged from the previous forecast.
The figures are one company's results and say nothing about Japanese or Chinese consumers in general.