Earnings quality
Compare earnings and operating cash flow for earnings quality.
NH Foods Ltd.
Ticker 2282 · 🇯🇵 Japan · Consolidated IFRS · amounts in yen
Filed 2026-06-23 · Period end 2026-03-31
Takeaway
Dig deeperThe numbers send mixed signals — dig into cash flow and leverage before drawing a conclusion.
equity ratio is 53.8%.
Mixed signals — use cash flow and the balance sheet before treating the year as clean.
ActionDig deeper
OP margin—
Equity ratio53.8%
Last price—
Trailing P/E—
Look at next
- Compare operating cash flow to reported profit across the last two years.
- Open English IR for management commentary on outlook and capital allocation.
- Overlay peers on Compare before judging relative momentum.
About the company
日本ハム株式会社 is a Japanese listed company. Its reportable segments include Ballpark Business Division, Fresh Meats Business Division, Processed Foods Business Division, Other.
- Ballpark Business Division
- Fresh Meats Business Division
- Processed Foods Business Division
- Other
Segments Ballpark Business Division · Fresh Meats Business Division · Processed Foods Business Division · Other
Compare trends
No phone/email found in this filing · Filing date 2026-06-23
Financial statements
Income statement
| Account | FY2025 (ended Mar 31, 2025) | FY2026 (ended Mar 31, 2026) |
|---|---|---|
| Revenue | ¥1.4T | ¥1.5T |
| Cost of sales* | — | — |
| Gross profit | — | — |
| Operating profit (loss) | — | — |
| Finance income | ¥3.7B | ¥4.1B |
| Finance costs | ¥2.7B | ¥4.3B |
| Income tax expense | ¥9.4B | ¥17.6B |
| Profit (loss) | ¥27.8B | ¥36.9B |
| Profit (loss) attributable to owners | ¥26.6B | ¥35.1B |
| Basic EPS (¥) | 263.05 | 361.13 |
Balance sheet
| Account | FY2025 (ended Mar 31, 2025) | FY2026 (ended Mar 31, 2026) |
|---|---|---|
| Cash and cash equivalents | ¥71.6B | ¥68.7B |
| Current assets | ¥406.3B | ¥438.3B |
| Non-current assets | ¥543.0B | ¥559.2B |
| Total assets | ¥949.3B | ¥997.5B |
| Short-term borrowings | — | — |
| Current liabilities | ¥257.7B | ¥247.1B |
| Non-current liabilities* | ¥154.5B | ¥198.7B |
| Total liabilities | ¥412.2B | ¥445.8B |
| Equity attributable to owners | ¥524.3B | ¥536.9B |
| Total equity | ¥537.1B | ¥551.7B |
Cash flow statement
| Account | FY2025 (ended Mar 31, 2025) | FY2026 (ended Mar 31, 2026) |
|---|---|---|
| Cash flows from operating activities | ¥77.4B | ¥82.3B |
| Cash flows from investing activities | -¥42.7B | -¥34.0B |
| Cash flows from financing activities | -¥29.9B | -¥56.0B |
| Net increase (decrease) in cash | ¥6.1B | -¥2.9B |
| Cash at end of period | ¥71.6B | ¥68.7B |
Five-year trends
Key metrics
| Metric | Trend | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|
| Revenue | — | — | — | ¥1.4T | ¥1.5T | |
| Profit to owners | ¥48.0B | ¥16.6B | ¥28.1B | ¥26.6B | ¥35.1B | |
| Total assets | ¥909.2B | ¥937.2B | ¥958.2B | ¥949.3B | ¥997.5B | |
| Cash & equivalents | ¥85.4B | ¥65.0B | ¥65.5B | ¥71.6B | ¥68.7B | |
| Owners’ equity | ¥479.1B | ¥492.9B | ¥527.5B | ¥524.3B | ¥536.9B |
How we read these numbers
From the notes
No material one-offs extracted from this filing.
Mixed
The numbers send mixed signals — dig into cash flow and leverage before drawing a conclusion.
On the income statement, revenue moved from ¥1.4T to ¥1.5T (▲ +6.3%), so the top line did not break. Gross profit only slipped from — to —, while operating profit swung from — to — — the damage is concentrated below gross profit.
Cash tells a different story than earnings. Operating cash flow was still ¥82.3B (prior ¥77.4B), and cash on the balance sheet rose to ¥68.7B from ¥71.6B. When profits collapse but operating cash stays positive, read the notes for impairments and other non-cash charges before assuming the business stopped generating cash.
The balance sheet got heavier on leverage. Total liabilities rose to ¥445.8B while owners’ equity fell to ¥536.9B. ROE moved from 5.1% to 6.6%, and the equity ratio from 55.2% to 53.8%.
Liquidity & leverage
Short-term borrowing levels look more stable year over year.
Capital buffer
Owners’ equity ratio fell from 55.2% to 53.8%; the balance sheet absorbed a heavy loss year.
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Source: EDINET S100YEEQ
(日本ハム株式会社), period end 2026-03-31.