Nichimo posts strong Q1 with 60% operating profit surge

Nichimo Co reported Q1 consolidated net sales of JPY 35,305 million, up 16.5% year-over-year, representing 54.3% of its half-year forecast.

Operating profit surged 59.3% to JPY 1,033 million, reaching 62.6% of the JPY 1,650 million half-year target. Growth was driven by the machinery segment and increased seafood sales from inbound tourism demand.

The company maintained its full-year forecast of JPY 135,000 million in net sales and JPY 3,300 million in operating profit, with a planned annual dividend of JPY 100 per share.