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Chunichi Seisakusho Research Memo (12): Continuing sustainable dividends with a target dividend ratio of 30%.
- Shareholder return policy 1. Nishinihon Seiki Co.,Ltd. <5941> regards the return of profits to shareholders as one of its important management challenges, while also emphasizing the expansion of business on a long-term basis, the development of a stable management foundation through the enhancement of corporate structure. For this reason, while taking into account financial conditions, period performance, and future business development, we are considering the introduction of other shareholder return policies in addition to the continuation of sustainable dividends aimed at a dividend payout ratio of 30%. Regarding retained earnings,
Chunichi Seisakusho Research Memo (11): Stable financials and abundant cash flow backed by strong performance.
Performance trend 2. Financial condition of Nishi Seisakujo Co., Ltd. <5941> at the end of the 2024 fiscal year, total assets amounted to 29,097 million yen (an increase of 2,963 million yen compared to the previous fiscal year-end). This is mainly due to a decrease of 616 million yen in bills receivable and a decrease of 358 million yen in goods and products, but an increase of 3,612 million yen in cash and deposits and an increase of 314 million yen in work in progress. Liabilities amounted to 9,988 million yen (an increase of 1,481 million yen compared to the previous fiscal year-end). This is mainly due to a decrease of 302 million yen in accounts payable, but...
Chunichi Seisakusho Research Memo (10): significant overachievement and strong performance with double-digit revenue and profit growth.
Performance trends: 1. For the fiscal year ending March 2024, the performance of Nishinihon Seisakujo Co., Ltd. <5941> was in good shape, with revenue of 36,602 million yen (+19.3% YoY), operating profit of 1,966 million yen (+83.4% YoY), ordinary profit of 2,086 million yen (+74.9% YoY), and net income of 1,519 million yen (+89.1% YoY). The revenue and profits both exceed the early estimates significantly. In addition, the medium-term management plan set a goal of 202.
Chu Seisakusho Research Memo (8): Achieved performance significantly exceeding the target in the second year of the medium-term management plan.
Chunichi Seisakusho <5941> has formulated a medium-term management plan (2022-2024) starting from the 2023 fiscal year. The basic policy of the medium-term management plan is to expand sales channels to peripheral fields while maintaining its share and presence in existing markets, and to strengthen its competitiveness by developing new products and nurturing talent for new markets.
Chunsei Manufacturing Research Memo (5): School meals with high sales and good profitability
Business Overview: 3. Target Market Nishi Seisakusho <5941> targets the markets of school meals, hospital/welfare meals, workplace meals, food service industries, and food processing. The school meal business, which can be considered their origin, has many products developed in-house, including dishwashers and dish disinfection and storage machines, making it possible to customize to meet various customer needs. In addition, they continue to propose solutions utilizing the know-how they have accumulated in the efficient operation of cooking facilities. Furthermore, they prioritize safety and ...
Chunsei Manufacturing Research Memo (4): manufacturing a variety of products according to the purpose and environment.
Overview of Chushin Manufacturing Co., Ltd. (5941). 2. Sales of its own product commercial kitchen equipment manufacturing and sales business accounts for 84.5% of total revenue (remaining is commodity ETF). The main self-produced products are dishwashing machines, dish disinfection and storage machines, heating and cooking machines, and rice cooking systems. The lineup of dishwashing machines is diverse, including large-scale washing machines for school lunch centers (NAW series), EO type washing machines for individual schools and hospitals, washing machines for the food service industry (SMARTwasher series), container washing machines, etc.
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