The Nisshin OilliO Group, Ltd. (TSE: 2602) — Japan's largest edible-oil producer, with operations spanning cooking oils, processed foods, fine chemicals, and healthcare — reported consolidated full-year results for the fiscal year ended March 31, 2026 (FY3/2026) under Japanese GAAP. Revenue rose 4.4% year-on-year to ¥554,251 million from ¥530,878 million, but operating profit fell 11.7% to ¥17,027 million from ¥19,278 million as cost pressure weighed on margins. Ordinary profit declined 11.4% to ¥16,030 million from ¥18,089 million.
Net profit nearly doubles on one-off gains
Despite the softer operating result, net profit attributable to owners of the parent surged 86.7% to ¥23,988 million from ¥12,850 million, driven by large non-operating and extraordinary gains during the year. Comprehensive income rose 246.1% to ¥39,673 million. Basic EPS came in at ¥254.41 versus a restated ¥132.14 — both figures adjusted for a 3-for-1 common-stock split that took effect April 1, 2026 — and ROE reached 12.1%. An equity-method investment gain of ¥1,621 million also contributed to the result.
Balance sheet and cash flow
Total assets stood at ¥451,185 million, with net assets of ¥222,004 million and an equity ratio of 46.6%. Book value per share was ¥2,298.24. On the cash-flow statement, operating activities generated ¥10,460 million, investing activities used ¥9,832 million, and financing activities provided ¥8,231 million, leaving period-end cash and equivalents of ¥24,953 million.
Dividend held at ¥180; 3-for-1 split effective April 2026
The FY3/2026 annual dividend was held at ¥180.00 per share (¥90 interim + ¥90 year-end), unchanged from the prior year, for a payout ratio of 23.6%. Following the 3-for-1 common-stock split effective April 1, 2026, the FY3/2027 forecast dividend is ¥60.00 per share (¥30 interim + ¥30 year-end) on a post-split basis — equivalent to ¥180 before the split.
FY27 guides net profit down 50% as one-offs fade
For FY3/2027, management guides revenue of ¥590,000 million (+6.4%), operating profit of ¥19,000 million (+11.6%), and ordinary profit of ¥18,000 million (+12.3%), signalling a recovery in the core business. Net profit attributable to owners, however, is guided sharply lower to ¥12,000 million (-50.0%), with EPS of ¥131.19, because the large one-off gains recorded in FY3/2026 are not expected to repeat. The guidance therefore points to a normalising bottom line even as operating performance strengthens.
| Metric | FY3/2026 | FY3/2025 | YoY |
|---|---|---|---|
| Revenue (¥M) | 554,251 | 530,878 | +4.4% |
| Operating profit (¥M) | 17,027 | 19,278 | -11.7% |
| Ordinary profit (¥M) | 16,030 | 18,089 | -11.4% |
| Net profit attrib. (¥M) | 23,988 | 12,850 | +86.7% |
| EPS (¥, split-adjusted) | 254.41 | 132.14 | +92.5% |
| Annual dividend (¥) | 180.00 | 180.00 | Unchanged |
| FY27 net profit guidance (¥M) | 12,000 | — | -50.0% |
JapanStockPulse provides informational content only and does not constitute investment advice. Figures are taken from the company's published earnings short report and may be subject to subsequent revision.