NH Foods Ltd. (2282.T): CEO meeting: Reconfirming the need for structural reforms in the processed foods business

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NH Foods Ltd. (2282.T): CEO meeting: Reconfirming the need for structural reforms in the processed foods business

Equity Research

26 June 2026 | 6:48PM JST

NH Foods Ltd. (2282.T): CEO meeting: Reconfirming the need for

structural reforms in the processed foods business

NH Foods held a meeting on June 26 with CEO Fumio Maeda as the main speaker. Takashi Miyazaki

+81(3)4587-9896 |

Management discussed the weak volume momentum and need for profitability takashi.miyazaki@gs.com

Goldman Sachs Japan Co., Ltd.

improvement in the processed foods business. Many questions centered on the

Megumi Taniguchi

relatively rapid pivot from the initial guidance policy of focus on volume growth. +81(3)4587-9877 |

Speakers confirmed that while the Australian fresh meats business is currently weak, megumi.taniguchi@gs.comGoldman Sachs Japan Co., Ltd.

the situation is likely to improve in 2H3/27, and that there is no change in the

company’s strategic direction to pursue efficient investment through co-creation. We

summarize our key takeaways below.

Key takeaways (company comments unless otherwise noted)

n Processed foods - price hikes: Following a close review of costs, the company

recently announced price hikes. It plans to select specific items for price

increases, including Schau Essen, and proceed with them in conjunction with

promotional campaigns.

n Middle East situation: Although futures prices for crude oil and other

commodities are falling, NH Foods is not seeing a decrease in its actual

procurement costs. The company’s business partners are also experiencing an

upward trend in procurement costs for items such as food trays, making them

more receptive to accepting the company’s price increases.

n Processed foods - consumption trends: Conditions remain challenging. While