House Foods Group Inc. provided earnings guidance for the fiscal year ending March 2024. Net sales are expected to be JPY 304.8 billion, up 10.8% or JPY 29.7 billion compared to the previous year, due to the previously announced effect of price revisions for mainstay products in Japan and the impact of business growth overseas. Operating profit is expected to increase 20.3%, or JPY 3.4 billion, over the previous year to JPY 20 billion, by executing price increases to overcome cost increases and by ensuring to implement initiatives aimed at restoring profitability.

Ordinary profit will be JPY 20.9 billion, up 14.5% compared to the previous year, and net profit will be JPY 17.5 billion, up 27.7% compared to the previous year, due to an extraordinary gain resulting from the revision of the retirement benefit plan.