Zojirushi reports sales increase, forecasts stable dividend amidst challenges

Zojirushi Corporation (TSE:7965) reported its consolidated financial results for the three months ended February 20, 2025, revealing a net sales increase of 3.2% year-over-year, reaching JPY29.032 billion. Domestic sales drove this growth, particularly in cooking appliances like the "Embudaki" rice cooker and increased humidifier demand, while overseas sales faced challenges, especially in China. Despite increased sales, operating profit declined by 4.2% to JPY3.376 billion due to increased selling, general, and administrative expenses, with foreign exchange losses also impacting ordinary profit, which fell 11.3% to JPY3.504 billion. The company announced a cumulative total return ratio of 100% or higher for the three years from 2023 to 2025, including treasury share purchases. Zojirushi maintains a consolidated payout ratio target of 50% or higher to balance shareholder returns with business investment. The financial results forecast of ¥89.5 billion in net sales, with a forecast dividend of ¥40 per share for the fiscal year ending November 20, 2025, remains unchanged.