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STI Foods HD Research Memo (10): A planned increase in dividends of 110.0 yen for the fiscal year ending December 2024, with a dividend payout ratio of 36.2%.
■Shareholder Returns 1. Shareholder dividends. STI Food Holdings <2932> regards returning profits to shareholders as one of the important management issues, taking into account the retention of internal reserves for future enhancement of corporate value, maximization of competitiveness, and strengthening of corporate structure. The distribution of surplus funds is set as a basic policy for annual dividends, and it is stipulated in the articles of incorporation that it is determined by the board of directors without requiring a resolution at the general shareholders' meeting.
STI Food HD Research Memo (9): Expecting a further upward revision of full-year performance based on strong second-quarter results.
The company expects revenue of 350 billion yen (10.1% increase from the previous year), operating profit of 28 billion yen (21.4% increase), ordinary profit of 28 billion yen (20.2% increase), and net income attributable to parent company shareholders of 18 billion yen (15.2% increase) for the fiscal year ending December 2024.
STI Food HD Research Memo (8): Achieved significant increase in revenue and profit with strong performance in new and existing commodities.
■STI Food Holdings <2932> performance trends 1. Performance trends for the second quarter of the fiscal year ending December 2024 The performance of the second quarter of the fiscal year ending December 2024 showed revenue of 16,694 million yen (an increase of 12.5% year-on-year), operating profit of 1,491 million yen (an increase of 44.1% year-on-year), ordinary profit of 1,495 million yen (an increase of 39.2% year-on-year), and interim net profit attributable to the parent company's shareholders of 1,010 million yen (an increase of 46.9% year-on-year), resulting in a strong financial performance. The progress rate against the initial full-year financial estimates is also at 49% in terms of revenue.
STI Food HD Research Memo (7): Overwhelming differentiation with a focus strategy, aiming for an operating profit margin of 10% or more.
■ STI Food Holdings <2932>'s key policies and key initiatives 1. Key Policies During the challenging times of the COVID-19 pandemic and high raw material prices, the company has reaffirmed its key policy to create a stronger corporate group by seeking contributions from various functions related to raw materials, development, manufacturing, and intellectual property. By adhering to a strong focus on sustainable raw material sourcing considering quality, price, marine resource protection, etc., the company aims to reduce the cost ratio, ensure consistent production, thorough quality manufacturing, and production capacity.
STI Food HD Research Memo (6): Working to solve social issues through business.
■ Business overview of STI Food Holdings <2932> 4. Efforts towards SDGs With the global expansion of fish consumption, procurement risks are increasing for all companies, but it seems that the company is sufficiently supported by trading companies and fisheries companies due to its sales capabilities. However, the risks are not limited to that, as the sustainability of the fishery itself is in crisis due to changes in fishing grounds caused by the rising sea surface temperature due to global warming. Considering that the raw material of the company's products is fish, when thinking about the company's efforts towards SDGs.
STI Food HD Research Memo (5): Strength in manufacturing technology, integrated production system, and reduction of food loss and cost.
■Business overview of STI Food Holdings <2932>. The company's strengths are (1) manufacturing technology, (2) integrated production system, and (3) reduction of food loss and costs, which have become driving forces in overcoming the challenges of the COVID-19 pandemic and high raw material prices. As the original business was a trading company, the company has strengths in procurement due to its own inspection and purchasing efforts, including overseas. Additionally, the established relationship with the largest retailer, Seven-Eleven, can also be considered a strength. Fisheries ingredients and food products,
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