Nissui (1332) Q4 2026 earnings summary

Executive summary

• Net sales and profits at all stages reached record highs in FY2025, with operating profit surpassing 40 billion yen for the first time, driven by strong performance in Marine and Food Products segments and improvements in fishery, aquaculture, and North American seafood processing businesses.

• Strategic investments led to a temporary decline in ROIC and ROE, but shareholder returns improved via dividend increases and share buybacks.

• Launched new Medium-Term Management Plan “GOOD FOODS Recipe2” focusing on international growth, aquaculture expansion, and turnaround of unprofitable operations.

• Sustainability indicators showed progress in CO2 reduction, female manager ratio, and employee engagement.

Financial highlights

• FY2025 net sales rose 5.1% year-over-year to ¥931.2 billion; operating profit increased 27.2% to ¥40.4 billion; ordinary profit grew 22.3% to ¥43.1 billion; profit attributable to owners of parent rose 8.4% to ¥27.5 billion.

• Basic earnings per share reached ¥90.17; net assets per share were ¥989.61.

• Total assets increased to ¥749.5 billion (+18.1% YoY); net assets rose to ¥309.9 billion (+8.4% YoY).

• Operating cash flow exceeded ¥50 billion, supporting investments in South American aquaculture and food plants.

• Cash flows from operating activities: ¥53.2 billion; investing activities: -¥61.4 billion; financing activities: ¥13.1 billion.

Outlook and guidance

• FY2026 net sales are projected to rise 5.2% to ¥980.0 billion, with operating profit up 5.1% to ¥42.5 billion; ordinary profit is expected to remain flat due to higher interest expenses from growth investments.

• Profit attributable to owners of parent forecast at ¥29.0 billion (+5.4% YoY); annual dividend forecast maintained at ¥32 per share.

• Plans to expand South American aquaculture, stabilize domestic aquaculture, and grow food processing in Europe/North America.

• Profit growth in Marine Products and Fine Chemicals is expected to offset cost burdens in Food Products.

• The impact of Middle East geopolitical risks is not factored into the FY2026 plan.