Nichirin (5184) Q2 2025 earnings summary

Executive summary

• Revenue for the first half of FY2024 rose 7.2% year-over-year to ¥36,283 million, with operating profit up 11.1% to ¥4,882 million and net profit attributable to shareholders up 27.4% to ¥3,827 million.

• Global economic conditions remained uncertain, with steady US growth, sluggish China, and geopolitical risks impacting Europe and Asia.

• The automotive sector faced mixed trends: increased exports due to yen depreciation, but domestic and Chinese sales were weak.

Financial highlights

• Gross profit increased to ¥8,772 million from ¥7,995 million year-over-year.

• Comprehensive income for the period was ¥8,075 million, up from ¥6,821 million.

• Total assets grew to ¥83,556 million from ¥77,936 million at the previous year-end.

• Equity ratio improved to 68.4% from 66.0% at the previous year-end.

• EPS for the half-year was ¥284.28, up from ¥219.08 year-over-year.

Outlook and guidance

• Full-year revenue is forecast at ¥72,000 million (+1.9% YoY), with operating profit of ¥9,000 million (–6.4% YoY) and net profit of ¥5,300 million (–10.4% YoY).

• No changes to previously announced guidance; risks include yen appreciation, China market weakness, and US-China trade policy.

• Annual dividend forecast remains ¥150 per share.