July 9, 2026 11:49 AM GMT Kewpie (2809) | Japan F11/26 2Q Results: Neutral – Domestic Strength Intact, But We Do Not Envision Expectations for F11/27 Rising Reaction to earnings Unchanged Modest upside Largely unchanged Impact to our thesis Financial results versus consensus Direction of next 12-month consensus EPS Source: Company data, Morgan Stanley Research Key Takeaways Implications for the stock price: The results reaffirmed that Kewpie is steadily strengthening its earnings power in Japan. However, we ...