Nichirin (5184) Q3 2026 earnings summary

Executive summary

• Revenue for the nine months ended September 30, 2025, was ¥54,522 million, up 2.0% year-over-year.

• Operating income rose 1.9% to ¥6,942 million, while ordinary income declined 9.4% to ¥6,548 million due to foreign exchange losses.

• Net income attributable to shareholders was ¥4,115 million, down 3.4% year-over-year.

• The business environment was marked by global economic uncertainty, with U.S. tariffs, China’s slowdown, and ongoing geopolitical risks impacting results.

Financial highlights

• Gross profit for the period was ¥12,992 million, with a gross margin of 23.8%.

• Comprehensive income attributable to shareholders was ¥3,110 million, down 44.0% year-over-year.

• EPS for the period was ¥312.28, compared to ¥317.42 in the prior year.

• Total assets at quarter-end were ¥83,291 million, with net assets of ¥63,935 million and an equity ratio of 68.4%.

Outlook and guidance

• Full-year revenue is forecast at ¥73,600 million, up 3.1% year-over-year.

• Operating income is projected at ¥9,100 million (down 0.9%), ordinary income at ¥8,600 million (down 17.2%), and net income at ¥5,000 million (down 19.0%).

• No changes have been made to the previously announced guidance.