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Consumer Non-Durables


Business Summary

NIPPN Corp. engages in the flour milling business. It operates through the following business segments: Flour Milling, Foods and Others. The Flour Milling segment manufactures and markets wheat flours, wheat bran, and offers warehousing and harbor transport. The Foods segment produces wheat flour for home use, premixes, frozen food ingredients, frozen processed foods, boxed lunches and deli products, coating mixes, and pasta products. The Others segment provides pet foods, health food products, and engineering services. The company was founded on September 26, 1896 and is headquartered in Tokyo, Japan.

Financial Highlights

Mar 2022 JPYUSD
Gross Profit73,465M653.76M
Operating income11,283M100.40M
Income before tax13,568M120.74M
Net income9,326M82.99M
Diluted EPS106.010.94
Dividends Per Share380.33
Total Assets329,310M2,713.16M
Total liabilities150,610M1,240.86M
Total equity174,316M1,436.17M
Operating cash flow11,975M106.56M
Currency in JPYCurrency in USD

Historical Data

 Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022
Revenue 323,495M 335,399M 344,839M 288,324M 321,317M
Gross Profit 87,467M 91,244M 96,397M 68,337M 73,465M
Operating income 10,061M 11,223M 11,102M 10,371M 11,283M
Income before tax 11,486M 12,305M 13,386M 13,049M 13,568M
Net income 7,651M 8,455M 8,942M 8,636M 9,326M
EBITDA 18,001M 18,801M 19,589M 19,485M 21,754M
Diluted EPS 95.15 97.07 101.81 98.25 106.01
Dividends Per Share 30 32 34 36 38
Total Assets 272,166M 293,392M 294,943M 311,469M 329,310M
Total liabilities 115,257M 138,403M 136,359M 142,402M 150,610M
Total equity 152,520M 150,434M 153,988M 164,443M 174,316M
Operating cash flow 15,217M 17,063M 15,532M 14,804M 11,975M
 Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022
Revenue 2,918.77M 3,024.48M 3,171.63M 2,718.56M 2,859.38M
Gross Profit 789.18M 822.79M 886.60M 644.33M 653.76M
Operating income 90.77M 101.20M 102.11M 97.78M 100.40M
Income before tax 103.63M 110.96M 123.11M 123.03M 120.74M
Net income 69.03M 76.24M 82.24M 81.42M 82.99M
EBITDA 162.41M 169.53M 180.16M 183.72M 193.58M
Diluted EPS 0.85 0.87 0.93 0.92 0.94
Dividends Per Share 0.27 0.28 0.31 0.33 0.33
Total Assets 2,559.15M 2,650.69M 2,732.09M 2,818.72M 2,713.16M
Total liabilities 1,083.75M 1,250.42M 1,263.10M 1,288.70M 1,240.86M
Total equity 1,434.13M 1,359.11M 1,426.40M 1,488.17M 1,436.17M
Operating cash flow 137.29M 153.86M 142.85M 139.58M 106.56M

Valuation Measures

Mar 2022
Operating margin3.51%
Profit margin2.90%

Key executives

  • Executive President & Representative Director: Toshiya Maezuru
  • Director, Manager-Finance & Accounting: Takaaki Aonuma
  • Director, GM-Production & Technology: Yasunori Tanaka
  • Head-Central Research Institute & Planning Center: Hideki Okusu
  • Representative Director, EVP & Head-Flour Milling: Toshifumi Horiuchi


  • Nippn Business Association (5.7%)
  • Nippon Life Insurance Co. (5.6%)
  • Mitsui & Co., Ltd. (4.2%)
  • Duskin Co., Ltd. (3.1%)
  • ITOCHU Corp. (2.8%)
  • Sumitomo Mitsui Financial Group, Inc. (2.8%)
  • Japan Agricultural Cooperatives Group (2.6%)
  • MS&AD Insurance Group Holdings, Inc. (2.5%)
  • NIPPN Corp. (2.3%)
  • Nomura Asset Management Co., Ltd. (2.1%)

Contact Details

  • Website:
  • Address: 4-8 Koji-machi, Chiyoda-Ku, Tokyo, 102-0083, Japan
  • Phone: +81.3.3511.5314

Related Companies

  • PT Nippn Foods Indonesia
  • Nippon Flour Mills (Shanghai) Trading Co. Ltd.
  • NIPPN (Thailand) Co. Ltd.
  • Nippon Flour Mills (Shanghai) Co. Ltd.
  • NIPPN California, Inc.
  • Nippon Flour Mills Trust
  • Nippun Donut Holdings KK
  • Nippon Flour Mills System Center Co. Ltd.
  • Chiba Grain Center KK
  • Corp. Huasu Tohuzu Nagoya
  • Nippun Engineering Co. Ltd.
  • Nippun Shoji KK
  • Nippn Shoji Corp. KK
  • NPF Japan KK
  • ITO Baking Co. Ltd.
  • Nippon Rich Co. Ltd.
  • Marushichi Shoji KK
  • Ohmy Co. Ltd.
  • Matsuya Flour Mills Co. Ltd.
  • Fast Foods Fukushima KK
  • NF Frozen Co. Ltd.
  • First Foods Co. Ltd.
  • Nippon Flour Mills (Thailand) Ltd.
  • F-One Ltd. /Food Operations/
  • Fast Foods Nagoya Co., Ltd.
  • Nippun USA
  • Nippn Business Association
  • OK Food Industry Co., Ltd.


    Last Updated on 6 Dec, 2022

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