Nichirin (5184) Q2 2026 earnings summary

Executive summary

• Revenue for the first half of FY2025 was ¥35,732 million, down 1.5% year-over-year; operating profit was ¥4,917 million, up 0.7% year-over-year.

• Ordinary profit declined 29.3% to ¥4,327 million, and net income attributable to shareholders fell 21.2% to ¥3,017 million year-over-year.

• Comprehensive income dropped sharply to ¥541 million, a 93.3% decrease year-over-year.

Financial highlights

• Gross margin improved as operating profit rose despite lower revenue.

• EPS for the half-year was ¥229.02, down from ¥284.28 year-over-year.

• Total assets at June 30, 2025, were ¥82,211 million, with net assets of ¥62,457 million and an equity ratio of 68.0%.

• Interim dividend increased to ¥82.00 per share, with full-year forecast at ¥164.00.

Outlook and guidance

• Full-year revenue forecast revised up to ¥73,600 million, but operating profit, ordinary profit, and net income forecasts were revised down due to tariff and forex impacts.

• Net income for the year is expected to decline 19.0% year-over-year to ¥5,000 million.

• No change in assumed exchange rates (USD/JPY 150, EUR/JPY 160).