MEGMILK SNOW BRAND Co.,Ltd. revised Consolidated earnings guidance for the Fiscal Year Ending March 31, 2023. For the year, the company now expects net sales to be JPY 580,000 million, Operating profit to be JPY 11,000 million, Profit attributable to owners of parent to be JPY 8,500 million, Profit per share to be JPY 125.84. The company previously expects Net Sales were JPY 575,000 million, Operating profit was JPY 14,000 million, Profit attributable to owners of parent was JPY 9,300 million, Profit per share was JPY 137.69.

Reasons for revisions: The business environment remains adverse, with production costs exceeding anticipated levels due to soaring energy and raw materials prices. Although the Company is working to revise prices, the price revisions have not proved sufficient to absorb the ongoing cost increases. As a result, operating profit, ordinary profit, and profit attributable to owners of parent, are each expected to fall below the previous forecasts, and the Company has thus revised the full-year forecast.