Nichirei reports strong interim earnings, revises full-year outlook

Nichirei Corporation reported consolidated net sales of JPY347,708 million for the six months ended September 30, 2025, a slight increase of 0.1% year-on-year. Operating profit decreased by 7.0% to JPY18,307 million, while profit attributable to owners of parent rose by 9.9% to JPY14,149 million. These results were significantly influenced by changes in accounting policies, including a shift from the declining balance method to the straight-line method for depreciating property, plant, and equipment. This, along with a revision of useful lives, collectively increased operating profit and profit before income taxes by JPY1,806 million.

The company has revised its full-year consolidated earnings forecast for the fiscal year ending March 31, 2026. Projected net sales are JPY700,000 million, with an operating profit of JPY39,500 million and profit attributable to owners of parent of JPY28,000 million. This revision includes adjustments for segment reorganizations, transitioning from five reporting segments to three: Foods, Logistics, and Real Estate.

In other financial updates, Nichirei issued unsecured corporate bonds totaling JPY10,000 million on October 17, 2025, with a five-year term and an annual interest rate of 1.513%. The proceeds are earmarked for commercial paper redemption, loan repayments, and capital investments. The company also confirmed a 2-for-1 share split effective April 1, 2025, impacting per-share metrics and dividend calculations.