Nichirin (5184) Q2 2027 earnings summary

Executive summary

• Revenue for the first half of FY2026 rose 18.3% year-over-year to ¥42,261 million, with operating profit up 5.9% to ¥5,205 million and ordinary profit up 27.4% to ¥5,512 million.

• Net income attributable to shareholders declined 4.1% year-over-year to ¥2,894 million despite higher sales and profits.

• Comprehensive income surged to ¥4,772 million, a 782.1% increase year-over-year, driven by significant gains in foreign currency translation adjustments.

Financial highlights

• Gross margin improved as sales outpaced cost increases, with gross profit at ¥9,958 million for the period.

• Total assets increased to ¥90,973 million, and net assets rose to ¥70,590 million, with an equity ratio of 69.1%.

• EPS for the half-year was ¥219.45, down from ¥229.02 in the prior year.

• Interim dividend set at ¥95 per share, with full-year forecast unchanged at ¥190 per share.

Outlook and guidance

• Full-year revenue forecast maintained at ¥78,000 million, with operating profit of ¥9,300 million and net income of ¥5,600 million.

• Assumptions revised for exchange rates (USD/JPY 160), but overall guidance unchanged due to ongoing uncertainties in raw material prices, North American demand, and US tariffs.