Nichirin (5184) Q3 2025 earnings summary

Executive summary

• Revenue for the nine months ended September 30, 2024, was ¥53,471 million, up 4.0% year-over-year.

• Operating income was ¥6,813 million, nearly flat from the previous year.

• Ordinary income declined 9.4% year-over-year to ¥7,226 million.

• Net income attributable to shareholders was ¥4,262 million, down 2.3% year-over-year.

• The business environment was impacted by global economic uncertainty, supply chain adjustments, and regional risks.

Financial highlights

• Gross profit increased to ¥12,992 million from ¥12,352 million year-over-year.

• Total assets stood at ¥77,931 million, nearly unchanged from the previous year-end.

• Net assets increased to ¥59,093 million, with an equity ratio of 67.5%.

• EPS for the period was ¥317.42, slightly down from ¥318.84 a year earlier.

• Comprehensive income fell sharply to ¥5,553 million from ¥9,226 million year-over-year.

Outlook and guidance

• Full-year revenue forecast is ¥72,000 million, up 1.9% year-over-year.

• Operating income is projected at ¥9,000 million (down 6.4%), and net income at ¥5,300 million (down 10.4%).

• No revision to the previously announced earnings forecast.

• Annual dividend forecast raised to ¥155 per share, including a ¥5 commemorative dividend for the 110th anniversary.