YAKULT HONSHA CO.,LTD.
2267・Prime Market・Foods
Beverage and Food Manufacturing and Sales Business (Japan)
The core segment of the Yakult Group, responsible for the manufacture and sale of dairy products and soft drinks in Japan
| Period | Current | Previous | Change |
|---|---|---|---|
| Segment sales (external customers + intersegment, total) | ¥229,604 million | ¥242,984 million | ↓ |
| Sales to external customers | ¥220,386 million | ¥233,847 million | ↓ |
| Segment operating income | ¥27,668 million | ¥37,464 million | ↓ |
| Segment assets | ¥245,813 million | ¥240,611 million | ↑ |
| Depreciation and amortization | ¥12,531 million | ¥12,759 million | ↓ |
| Capital expenditures (increase in tangible and intangible fixed assets) | ¥23,706 million | ¥28,515 million | ↓ |
Business Details
The Company and its domestic consolidated subsidiaries manufacture dairy products (lactic acid bacteria beverages, fermented milk, etc.), soft drinks, noodles, health foods, and other products, and sell them through both home delivery and retail channels. The segment promotes the "dissemination of value" activities based on scientific evidence for "Lactobacillus casei strain Shirota" and "Bifidobacterium strain BY," driving the adoption of probiotic products as part of consumers' health habits. This is the Group's core business segment, accounting for approximately 47.2% of consolidated net sales.
Recent Overview
Both dairy products and soft drinks fell below prior-year levels amid competition and price inflation, with net sales down 5.5% and operating income down sharply by 26.1%
Consolidated net sales of the Beverage and Food Manufacturing and Sales Business (Japan) segment for FY2026 (ending March 2026) were ¥229,604 million (down 5.5% year on year). Affected by a harsh market environment including the emergence of competing products and price inflation, both dairy products and soft drinks fell below the prior-year level. Operating income deteriorated significantly to ¥27,668 million (down 26.1% from ¥37,464 million in the prior period). On the other hand, brand-strengthening initiatives continued, including the launch of "Y1000 Sugar-Free" as a food with function claims, the 90th anniversary commemorative campaign, and the Guinness World Records certification of the "Yakult" brand.
Key Products
Growth Drivers
- Strengthening the brand and acquiring new customers through high-value-added products such as "Yakult 1000" and "Y1000"
- Continued rollout of "dissemination of value" activities based on evidence for "Lactobacillus casei strain Shirota"
- Appeal to health-conscious consumers through an expanded lineup of foods with function claims such as "Y1000 Sugar-Free"
- Promotion of product strategy, sales promotion measures, and communication initiatives in both the home delivery and retail channels
- Strengthening the product portfolio by expanding distribution of the "Tounyu no Chikara" series into the home delivery channel
- Maintaining and expanding the home delivery organization through enhanced recruitment of Yakult Ladies and efforts to create a more comfortable working environment
Risks
- Decline in unit sales of dairy products and soft drinks due to the emergence of competing products (net sales down 5.5% year on year for the current period)
- Cost pressure from rising raw material, logistics, and fuel costs (price revisions implemented in April 2025 and March 2026)
- Deterioration in market conditions and changes in consumer purchasing behavior due to price inflation
- Sluggish market growth and diversifying consumer needs due to Japan's declining population
- Difficulty maintaining and strengthening the home delivery organization due to intensifying competition for talent and difficulty recruiting Yakult Ladies
- Continued risk of profitability deterioration due to declining operating margin (15.4% in the prior period vs. 12.1% in the current period)
Last updated: June 19, 2026