Ajinomoto Q4 Earnings: The Good And The Bad

I am initiating on Ajinomoto with a 'Hold' rating, after evaluating its results and outlook. The company's FY2025 EPS beat the consensus forecast, but its FY26 business profit guidance implies a substantial growth deceleration. There is also a significant divergence in the prospects of its Ajinomoto Build-up Film/ABF and frozen foods businesses.