Nitto Fuji Flour H1 Operating Profit Rises 18.2% on Price Increases as Sales Hold Flat

Prices up, flour volumes down

Nitto Fuji Flour Milling Co., Ltd. (TSE: 2003) reported consolidated results for the first half of FY3/2027, April 1 to September 30, 2026, on November 2, 2026 under Japanese GAAP. Sales of its core flour products fell in volume, and a former transport subsidiary that became an equity-method affiliate after a partial share sale in October 2025 dropped out of the top line, but price increases passed on to cover raw-material and logistics costs kept sales level at ¥35,502 million. The Flour milling & food segment's revenue slipped 1.3% to ¥29,421 million while its profit rose 18.1% to ¥1,826 million, helped by overseas mix-flour subsidiaries and better margins at domestic subsidiaries. The Restaurants segment, which runs Kentucky Fried Chicken franchises, grew revenue 9.5% to ¥6,085 million on new openings and lifted profit to ¥66 million from ¥2 million.

Guidance and dividend unchanged

Ordinary profit rose 20.3% to ¥2,254 million, helped by higher rental income from fixed assets, and net profit rose 29.5% to ¥1,479 million, or ¥40.64 per share, despite impairment and disposal losses. The company kept its FY3/2027 forecast of net sales of ¥73,000 million, operating profit of ¥4,200 million (+10.1%), ordinary profit of ¥4,700 million and net profit of ¥3,300 million. After its 4-for-1 stock split on April 1, 2026, it plans an annual dividend of ¥70 (¥35 interim, ¥35 year-end), the same as last year's ¥280 on a split-adjusted basis. The equity ratio rose to 79.3%.

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.