Nichirei (2871) Q3 2025 earnings summary

Executive summary

• Revenue for the nine months ended December 31, 2024, was 534.8 billion yen, up 4% year-over-year, led by processed foods and cold storage logistics.

• Operating profit reached a record high cumulatively, despite a single-quarter decline due to higher processed foods costs.

• Net income attributable to shareholders was 20.6 billion yen, up 2.4% year-over-year.

• Comprehensive income decreased 22.6% year-over-year to 24.4 billion yen.

Financial highlights

• Cumulative revenue rose 4% year-over-year to 534.8 billion yen; operating profit up 7% to 33.1 billion yen.

• Gross profit for the period was 97.8 billion yen, up from 90.9 billion yen year-over-year.

• EPS for the period was 161.32 yen, up from 157.26 yen year-over-year.

• Total assets increased to 511.8 billion yen; net assets rose to 275.1 billion yen, equity ratio at 50.8%.

• Overseas sales up 15% year-over-year, with notable growth in North America and Southeast Asia.

Outlook and guidance

• Full-year revenue forecast is 700 billion yen (+2.9% year-over-year), operating income 40.5 billion yen (+9.7%), net income 26 billion yen (+6.1%), and EPS 203.85 yen.

• Full-year guidance unchanged from previous upward revision; segment-level adjustments made but overall targets maintained.

• Processed foods segment guidance revised downward, but both revenue and operating profit are expected to reach record highs.

• Cold storage logistics aims to maximize storage and transport demand to achieve full-year targets.

• Assumed exchange rates: USD/JPY 154, EUR/JPY 165, THB/JPY 4.2.