THE TORIGOE CO.,LTD.
2009・Standard Market・Foods
Torigoe Flour Milling Co., Ltd. (single segment)
A comprehensive grain processing group engaged in flour milling, food products, pearled barley, and animal feed
| Period | Current | Previous | Change |
|---|---|---|---|
| Revenue (Q1 cumulative, FY2026 ending December 2026) | ¥6,399 million | ¥6,406 million (Q1, FY2025 ended December 2025) | — |
| Operating profit (Q1 cumulative, FY2026 ending December 2026) | ¥360 million | ¥355 million (Q1, FY2025 ended December 2025) | ↑ |
| Ordinary profit (Q1 cumulative, FY2026 ending December 2026) | ¥379 million | ¥371 million (Q1, FY2025 ended December 2025) | ↑ |
| Quarterly net income attributable to owners of parent (Q1 cumulative, FY2026 ending December 2026) | ¥241 million | ¥265 million (Q1, FY2025 ended December 2025) | ↓ |
| Operating margin (Q1 cumulative, FY2026 ending December 2026) | 5.6% | 5.6% (Q1, FY2025 ended December 2025) | — |
| Equity ratio | 79.5% | 79.1% (end of FY2025 ended December 2025) | ↑ |
| Net income per share (quarterly) | ¥10.38 | ¥11.42 (Q1, FY2025 ended December 2025) | ↓ |
| Total assets | ¥45,611 million | ¥46,473 million (end of FY2025 ended December 2025) | ↓ |
| Net assets | ¥36,291 million | ¥36,794 million (end of FY2025 ended December 2025) | ↓ |
| Full-year revenue forecast (FY2026 ending December 2026) | ¥28,000 million | ¥26,250 million (FY2025 ended December 2025 actual) | ↑ |
| Full-year operating profit forecast (FY2026 ending December 2026) | ¥1,350 million | ¥1,311 million (FY2025 ended December 2025 actual) | ↑ |
Business Details
The Group is a single-segment company engaged in the manufacture and sale of flour milling products (wheat flour, rye flour), food products (premixes, quality improvers, raw noodles, bread and confectionery), pearled barley products (whole barley, pressed barley, glutinous barley), and animal feed. It comprises the parent company and its consolidated subsidiaries, supplying products for both commercial and household use. Over 90% of sales are domestic, and raw material procurement based on the government's selling price system for imported wheat forms the core of its business foundation.
Recent Overview
Q1 revenue was roughly flat year on year, while operating and ordinary profit posted modest increases
In Q1 FY2026 (ending December 2026) (January to March), revenue was ¥6,399 million (down 0.1% year on year), operating profit was ¥360 million (up 1.2% year on year), and ordinary profit was ¥379 million (up 2.2% year on year). The flour milling segment saw a 3.1% decline in revenue due to product price cuts following the government selling price reduction, while the pearled barley segment saw a 5.2% increase in revenue due to higher shipment volumes. Net income declined 9.0% to ¥241 million, reflecting the absence of a ¥55 million gain on sale of investment securities recorded in the same period of the previous year. Following the 2.5% average increase (across five wheat varieties) in the government selling price for imported wheat effective April 1, 2026, the company plans to revise prices for commercial-use wheat flour for deliveries from June 20 onward. The full-year earnings forecast remains unchanged from the figures announced on February 13, 2026.
Key Products
Growth Drivers
- Increased shipment volumes in the pearled barley segment (up 5.2% year on year in Q1 FY2026 ending December 2026)
- Improved profitability in the food products segment through price increases
- Planned price revision for commercial-use wheat flour effective for deliveries from June 20, 2026, in response to a 2.5% increase in the government selling price for imported wheat
- Improvement in gross profit (from ¥1,295 million to ¥1,330 million, up 2.7% year on year)
- Management focused on cost of capital and share price awareness as the final year of the medium-term management plan "TTC150 Stage3"
- Continued firm inbound demand supporting demand for commercial-use food products
Risks
- Risk of product price fluctuations due to revisions in the government selling price for imported wheat (directly affecting flour milling segment sales; the October 2025 price cut led to a 3.1% decline in Q1 flour milling sales)
- Risk of profit pressure from rising raw material prices, logistics costs, and labor costs (SG&A expenses increased by ¥31 million year on year)
- Risk of intensifying sales competition and weakening demand amid growing consumer thrift consciousness
- Risk of economic downside from the impact of U.S. trade policy, and escalating tensions in Ukraine and the Middle East
- Risk of declining shipment volumes and falling sales prices in the animal feed segment (down 4.6% year on year in Q1)
- Uncertainty in grain markets and foreign exchange trends (rising import costs due to yen depreciation)
Last updated: March 26, 2026