Japanese retailer Nishimatsuya Chain experienced a noteworthy surge in its shares, rising by 6.16% to reach 1,670 yen on Thursday. This significant increase came as a result of the company’s robust first-half net profit growth, which reached 4.76 billion yen ($31.8 million), along with a rise in revenue to 88.47 billion yen. Despite the stock market taking a downturn, Nishimatsuya Chain managed to thrive due to strong sales of spring and summer clothing, as well as baby formula and diapers. The company also saw growth through the opening of 33 new stores, increasing the total number of outlets to 1,090.
In addition to its impressive performance, Nishimatsuya Chain unveiled plans to enhance dividends per share from 26 yen to 27 yen and repurchase shares worth 300 million yen. Looking ahead, the company forecasts a net profit of 9.28 billion yen and expects total revenue to reach 180 billion yen. With these positive developments and strategic initiatives, Nishimatsuya Chain aims to continue its successful trajectory.
This news highlights Nishimatsuya Chain’s remarkable growth amid a challenging market environment. By capitalizing on strong sales of popular products and expanding its store network, the company has not only achieved significant profit growth but also attracted investors’ attention, as evidenced by the rise in share prices. With its plans for increased dividends and share repurchases, Nishimatsuya Chain aims to enhance shareholder value. Moreover, the company’s positive outlook for future profitability and revenue demonstrates its confidence in sustaining its growth momentum.