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NICHIRYO BAKING, First Half Ordinary Profit Decreases by 49%, Jul-Sep Ordinary Profit Decreases by 51%

Tue Oct 28, 2025 3:30 pm JST Earnings

2218 NICHIRYO BAKING CO.,LTD. 【J-GAAP】

Earnings Report

NICHIRYO BAKING CO.,LTD. <2218> [SSE] announced its financial results after the market closed on October 28th (15:30). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2026 (April to September) dropped 49.5% from the same period last year to 95 million yen. Progress toward the full-year plan of 280 million yen was 33.9%, also falling below the five-year average of 67.3%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit for the October to March period (second half) is expected to surge 2.2 times that of the same period last year, reaching 185 million yen.

In the most recent three-month period, from July to September (2Q), the ordinary profit significantly dropped to 70 million yen, a 50.7% decrease compared to the same period last year. The operating profit margin worsened from 3.0% in the same period last year to 1.5%.

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Actual Results

Accumulated Results 2nd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Apr - Sep, 2023 8,897 215 223 145 69.6 77.2 Oct 24, 2023 J-GAAP
Apr - Sep, 2024 9,115 182 188 118 56.7 68.6 Oct 29, 2024 J-GAAP
Apr - Sep, 2025 9,314 91 95 52 25.0 33.9 Oct 28, 2025 J-GAAP
YoY +2.2% -50.0% -49.5% -55.9% -55.9%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Apr - Sep, 2025 Guidance ー ー ー ー － － May 13, 2025 J-GAAP
Apr - Sep, 2025 Results 9,314 91 95 52 25.0 － Oct 28, 2025 J-GAAP
Revision Rate － － － － －

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Oct - Mar, 2024 9,329 82 86 95 45.4 15 May 13, 2025 J-GAAP
Oct - Mar, 2025 Guidance 9,686 189 185 118 56.4 15 Oct 28, 2025 J-GAAP
YoY +3.8% +130.5% +115.1% +24.2% +24.2%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 17,986 274 289 207 99.0 20 May 14, 2024 J-GAAP
Mar, 2025 18,444 264 274 213 101.8 15 May 13, 2025 J-GAAP
Mar, 2026 Guidance 19,000 280 280 170 81.2 15 May 13, 2025 J-GAAP
YoY +3.0% +6.1% +2.2% -20.2% -20.2%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 4,739 144 142 87 41.8 3.0 Oct 29, 2024 J-GAAP
Oct - Dec, 2024 4,817 68 75 45 21.5 1.4 Jan 31, 2025 J-GAAP
Jan - Mar, 2025 4,512 14 11 50 23.9 0.3 May 13, 2025 J-GAAP
Apr - Jun, 2025 4,501 17 25 11 5.6 0.4 Jul 25, 2025 J-GAAP
Jul - Sep, 2025 4,813 74 70 41 19.7 1.5 Oct 28, 2025 J-GAAP
YoY +1.6% -48.6% -50.7% -52.9% -52.8%

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