Nichirei (2871) Q3 2026 earnings summary

Executive summary

• Net sales for the nine months ended December 31, 2025, were ¥537.7 billion, up slightly year-over-year, with Q3 operating profit returning to growth but cumulative Q1–Q3 operating profit down by ¥1.2 billion.

• Operating profit decreased to ¥30.5 billion from ¥31.8 billion year-over-year, while profit attributable to owners of parent rose to ¥21.9 billion from ¥20.6 billion.

• Comprehensive income increased 16.5% year-over-year to ¥28.5 billion.

• Segment reorganization reduced reporting segments from five to three, integrating food businesses.

• Full-year forecasts remain unchanged: net sales at ¥700 billion, operating profit up ¥1.2 billion to ¥39.5 billion, and net income up ¥3.3 billion to a record ¥28 billion, aided by gains from investment security sales.

Financial highlights

• Q3 net sales rose 1% year-over-year to ¥190.0 billion; cumulative Q1–Q3 net sales up 1% to ¥537.7 billion.

• EPS for the nine months was ¥87.23, up from ¥80.66 year-over-year, reflecting a 2-for-1 share split.

• Total assets increased to ¥554.2 billion as of December 31, 2025, from ¥499.2 billion as of March 31, 2025.

• Ordinary profit was ¥31.4 billion, down from ¥33.1 billion year-over-year.

• Profit attributable to owners of parent for Q1–Q3 rose 6% to ¥21.9 billion.

Outlook and guidance

• Full-year net sales forecast at ¥700 billion, flat year-over-year; operating profit projected at ¥39.5 billion (+3%), and net income at ¥28 billion (+13%).

• EPS forecast for the full year is ¥111.74.

• Dividend forecast for FY ending March 31, 2026, is ¥47.00 per share.

• Processed Foods and Temperature-controlled Logistics expected to drive growth, while Marine, Meat, and Poultry complete structural reforms.

• Earnings per share forecasted at ¥111.7, up 14.8% year-over-year.