NH Foods (2282) Q4 2025 earnings summary

Executive summary

• Net sales for FY2025/3 reached ¥1,370.6 billion, up 5.1% year-over-year, driven by higher sales prices in Fresh Meats and expanded Australian beef production.

• Business profit declined by 5.3% to ¥42.5 billion due to lower domestic chicken profitability and challenges in imported fresh meat sales, despite improved Processed Foods profitability.

• Profit attributable to owners of the parent decreased 5.3% to ¥26.6 billion; comprehensive income fell 36.6% to ¥29.6 billion.

• The company acquired LJD Holdings Group in the US to expand its processed food business in North America.

Financial highlights

• Net sales: ¥1,370.6 billion (+5.1% YoY); business profit: ¥42.5 billion (−5.3% YoY); profit attributable to owners: ¥26.6 billion (−5.3% YoY).

• EPS: ¥263.05 (−¥10.65 YoY); equity ratio: 55.2% (+0.2pp YoY); ROE: 5.1%.

• Gross profit margin improved to 16.1% (+0.5% YoY); operating profit rose 13.9% to ¥35.9 billion.

• Cash flows from operating activities were ¥77.4 billion; capital expenditures decreased 22.2% to ¥34.4 billion.

• Cash and cash equivalents at year-end: ¥71.6 billion (+¥6.1 billion YoY).

Outlook and guidance

• FY2026/3 net sales projected at ¥1,400.0 billion (+2.1% YoY); business profit forecast at ¥54.0 billion (+26.9% YoY); profit before tax ¥45.0 billion (+21.0% YoY); net income attributable to owners ¥30.0 billion (+12.8% YoY); EPS ¥303.24.

• Growth expected from improved domestic chicken brand ratio, favorable market conditions, North American expansion, and Australian beef production.

• Ordinary dividend planned at ¥156 per share for FY2026.

• Ongoing structural reforms and integration of overseas operations to drive record business profit.