S&B FOODS INC.
2805・Standard Market・Foods
Food Products Business
The core business of S&B Foods, centered on the manufacture and sale of spice- and herb-based food products
| Period | Current | Previous | Change |
|---|---|---|---|
| Consolidated net sales (full year) | ¥129,022 million | ¥123,520 million | ↑ |
| Consolidated operating profit (full year) | ¥10,318 million | ¥9,442 million | ↑ |
| Operating profit margin (full year) | 8.0% | 7.6% | ↑ |
| Domestic business net sales (full year) | ¥115,395 million | ¥111,166 million | ↑ |
| Domestic business segment profit (full year) | ¥6,447 million | ¥6,513 million | ↓ |
| Overseas business net sales (full year) | ¥13,631 million | ¥12,356 million | ↑ |
| Overseas business segment profit (full year) | ¥3,870 million | ¥2,929 million | ↑ |
| Overseas sales ratio | 10.6% | 10.0% | ↑ |
| Capital expenditure (full year) | ¥3,557 million | ¥3,592 million | ↓ |
| R&D expenses (full year) | ¥1,427 million | ¥1,344 million | ↑ |
Business Details
This segment handles the manufacture and sale of various spices, instant curry, tube products, retort curry, and other products, as well as the procurement of related raw materials. Beginning with FY2026 (ending March 2026), the previous single "Food Products Business" segment was reclassified into two categories: "Domestic Business" and "Overseas Business." Domestic business accounts for approximately 89% of net sales, with overseas business (Singapore, etc.) making up the remainder. Major sales channels include Mitsubishi Shokuhin Co., Ltd., Mitsui & Co., Ltd., and Kokubu Group Corporation.
Recent Overview
In FY2026 (ending March 2026), net sales increased across all product categories, with the overseas business driving high growth with a 32% profit increase
For full-year FY2026 (ending March 2026), net sales reached ¥129,022 million (up 4.5% year on year) and operating profit reached ¥10,318 million (up 9.3% year on year). While domestic business net sales rose 3.8%, segment profit declined 1.0% due to increased advertising expenses and personnel costs. Overseas business segment profit margin improved significantly to 28.4% (from 23.7% in the prior period). Minesakae Kogyo Co., Ltd. was consolidated. For FY2027 (ending March 2027), net sales are forecast at ¥134,500 million (up 4.2%) and operating profit at ¥10,700 million (up 3.7%).
Key Products
Growth Drivers
- Improvement in unit prices and profit margins through strengthened sales of high-value-added products (such as powder roux products)
- Expansion of overseas business (up 10.3% year on year for full-year FY2026, ending March 2026) and increase in overseas sales ratio (from 10.0% to 10.6%)
- Growth of "Lee Kum Kee" brand products and chili oil-related products in the spice seasoning group, both domestically and overseas
- Strengthened raw material procurement structure through consolidation of Minesakae Kogyo Co., Ltd.
- Promotion of the four priority strategies—"strengthen our strengths," "support growth," "improve efficiency," and "solidify our foundation"—under the Fourth Medium-Term Management Plan (FY2027–FY2029, ending March 2027 to March 2029)
- Execution of Management Strategy 2033, targeting net sales exceeding ¥2,000 million (wide-area target) and an overseas sales ratio exceeding 40% by 2043
Risks
- Upward pressure on cost of sales ratio from continued increases in raw material prices (cost of sales ratio of 72.0% in FY2026, ending March 2026)
- Sluggish domestic demand due to continued consumer thrift orientation
- Impact of exchange rate fluctuations on yen-converted overseas net sales and profit (fiscal year-end rate: ¥159.88/USD)
- Decline in domestic business segment profit margin (5.6%, down from 5.9% in the prior period) due to increased SG&A expenses, including advertising expenses (up 12.8% year on year) and personnel costs
- Impact on raw material procurement costs and overseas business from unstable international conditions and U.S. trade policy trends
- Profit attributable to owners of parent is expected to decrease 3.7% in FY2027 (ending March 2027) due to a reversal effect from the large extraordinary gain recorded in the current period
Last updated: June 22, 2026