Nichirei (2871) Q4 2026 earnings summary

Executive summary

• Net sales increased 2% year-over-year to ¥716.1 billion, with operating profit up 2% to ¥39.0 billion, though slightly below plan due to overseas one-time impacts.

• Profit attributable to owners of parent reached a record high of ¥27,332 million, driven by the sale of cross-shareholdings and other factors.

• Comprehensive income surged to ¥40,892 million, a 34.2% increase year-over-year.

• FY2026 will feature an irregular 9-month accounting period in Japan due to a change in fiscal year-end, with overseas operations on a 12-month basis.

• The Temperature-controlled Logistics Business is expected to drive growth, while Foods Business faces ongoing cost pressures.

Financial highlights

• FY2025 net sales: ¥716.1 billion (+2% YoY); operating profit: ¥39.0 billion (+2% YoY); profit attributable to owners of parent: ¥27.3 billion (+11% YoY).

• EBITDA decreased 2% YoY to ¥61.1 billion.

• Gross profit improved to ¥129,221 million from ¥126,228 million year-over-year.

• Total assets grew to ¥557,242 million as of March 31, 2026, up from ¥499,221 million.

• Dividend per share for FY ended March 31, 2026 was ¥47.00, with a payout ratio of 43.1%.

Outlook and guidance

• For the nine months ending December 31, 2026, net sales are forecast at ¥609.4 billion, operating profit at ¥33.8 billion, and profit attributable to owners of parent at ¥25.2 billion.

• EPS for the period is projected at ¥100.55.

• Foods Business aims to maintain profit levels despite cost hikes; Temperature-controlled Logistics Business to lead sales and profit growth.

• Operating profit forecast for the group revised downward due to major changes in the business environment.

• The fiscal year-end will change to December 31, resulting in a transitional nine-month period for some subsidiaries.