NH Foods (2282) Q2 2025 earnings summary

Executive summary

• Net sales rose 4.9% year-over-year to ¥683,864 million, driven by higher domestic fresh meat sales and growth in Australian beef sales.

• Business profit increased 8.5% to ¥27,092 million, supported by improved product mix and production optimization.

• Profit before tax declined 8.6% to ¥28,872 million due to exchange rate impacts; profit attributable to owners fell 10.6% to ¥17,864 million.

• The Ballpark Business is now disclosed as a separate segment due to its increased importance.

Financial highlights

• Earnings per share (basic) decreased to ¥174.19 from ¥194.88 year-over-year.

• Total assets stood at ¥957,111 million, down 0.1% from March 2024; equity ratio at 54.8%.

• Cash and cash equivalents increased by ¥5,748 million to ¥71,213 million at quarter-end.

• Net cash provided by operating activities was ¥22,374 million; investing activities used ¥15,744 million.

Outlook and guidance

• Full-year net sales forecast at ¥1,340,000 million, up 2.8% year-over-year; business profit projected at ¥48,000 million (+6.8%).

• Profit attributable to owners forecast at ¥27,000 million (+3.8%); EPS expected at ¥262.94.

• No changes to previously announced full-year guidance.