Nichirin reports mixed interim results, revises full-year outlook

Nichirin reported a slight decline in net sales for the interim period ending June 2025, reaching JPY 35,732 million, a 1.5% decrease from the previous year. Operating profit, however, saw a modest increase of 0.7% to JPY 4,917 million. Despite this, ordinary profit decreased significantly by 29.3% to JPY 4,327 million, largely due to a JPY 1,715 million increase in foreign exchange losses. Net profit attributable to owners of the parent also fell by 21.1% to JPY 3,017 million.

The company has revised its full-year forecast for December 2025, with expected net sales of JPY 73,600 million, an increase from the previous forecast of JPY 72,800 million. However, operating profit is now projected at JPY 9,100 million, down from JPY 9,400 million, and ordinary profit is revised to JPY 8,600 million from JPY 9,600 million. Net profit attributable to owners of the parent is also lowered to JPY 5,000 million from JPY 5,800 million. The dividend forecast has been adjusted to JPY 164.00 per share, reflecting a 43% consolidated payout ratio.

Strategically, Nichirin acquired ATCO PRODUCTS LLC. in May 2025, rebranding it as NICHIRIN ATCO TEXAS, INC., to expand into the North American Medium Duty and Heavy Duty truck and bus markets, targeting over $30 million in sales annually.