NH Foods (2282) Q2 2026 earnings summary

Executive summary

• Net sales for the first half reached ¥722.6 billion, up 5.7% year-over-year, driven by strong Ballpark Business, higher domestic chicken prices, and expanded Australian beef sales.

• Business profit hit a record-high for the first half at ¥36.3 billion, up 34.1% year-over-year; profit attributable to owners was ¥23.2 billion, up 29.8%.

• Comprehensive income nearly doubled, up 92% year-over-year to ¥30,767 million.

• Structural reforms in Processed Foods and successful summer sales measures in domestic pork contributed to recovery.

Financial highlights

• Net sales: ¥722.6 billion (+5.7% YoY); business profit: ¥36.3 billion (+34.1% YoY); profit attributable to owners: ¥23.2 billion (+29.8% YoY).

• EPS for the first half was ¥235.20 (+¥61.01 YoY); ROE at 4.4% (+1.0% YoY); ROIC at 3.2% (+0.8% YoY).

• Full-year net sales forecast revised up to ¥1,430.0 billion (+4.3% YoY); business profit forecast to ¥59.0 billion (+38.7% YoY); profit attributable to owners forecast at ¥34.0 billion (+27.9% YoY).

• Dividend per share forecast raised to ¥156.00.

Outlook and guidance

• Net sales and business profit forecasts revised upward due to strong performance in Australian beef, domestic chicken, and Ballpark Business.

• Processed Foods Business to secure profit above previous year despite additional DX/IT expenses and delayed North American recovery.

• Full-year EPS forecast at ¥349.40 (+¥86.35 YoY); ROE at 6.6%; ROIC at 5.3%.

• Dividend per share forecast raised to ¥156.00.