Komori
Financial results presentation5393NICHIAS CORPORATIONConstruction and Materials

Financial Results Briefing for the Fiscal Year Ending March 2026

For the fiscal year ended March 2026, net sales declined 1.8% year on year and operating income fell 6.8%, while operating income, ordinary income and net income exceeded the February forecast. Profitability improved in the automotive parts and building materials businesses, but lower sales and earnings in high-performance products weighed on overall results.

Worth reading
59In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.
Direction
Mixed performance
Direction inferred from the company’s description.
Scale
-1.8
% (year-on-year change in revenue)
Wording
Conditional
How definitive the wording is.

Contents of this document

Financial results presentationFiscal year ending March 202612 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales2,519 Hundreds of millions of yen-1.8%
Operating profit370 Hundreds of millions of yen-6.8%
Ordinary income394 Hundreds of millions of yen-5.6%
Net income316 Hundreds of millions of yen-1.4%
Operating profit margin14.7 %
Full-year earnings forecast
Fiscal year ending March 2027
Net Sales
2,700 Hundreds of millions of yen
Operating profit
450 Hundreds of millions of yen
Ordinary income
450 Hundreds of millions of yen
Profit attributable to owners of the parent
320 Hundreds of millions of yen
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Generally solid finish
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Revenue for the fiscal year ended March 2026From ¥256.5 billion in the fiscal year ended March 2025, including ¥1.0 billion from plant construction and sales, ¥0.1 billion from industrial products, a ¥4.6 billion decline in high-performance products, ¥0.3 billion from automotive parts and a ¥0.6 billion decline in building materials, to ¥251.9 billion in the fiscal year ended March 2026
Operating profit, fiscal year ended March 2026From ¥39.7 billion in the fiscal year ended March 2025, after a ¥0.9 billion decrease in gross profit and a ¥1.8 billion increase in SG&A expenses, to ¥37.0 billion in the fiscal year ended March 2026
Decrease in income taxes and other taxes¥3.5 billion (¥2.7 billion related to Kimitsu RW and ¥0.8 billion related to deferred tax assets at NRI/Indonesia)
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Recovery in semiconductor market conditions, expansion of generative AI, recovery in electronics-related market conditions, and increased construction volumes toward the restart of nuclear power plants and completion of reprocessing plants. Numerical assumptions are Not disclosed
New initiatives
  • The full-scale launch of the new core system was postponed from October 2026 to May 2027 or later
  • NICHIAS DISCOVERY GATE to grand-open in April 2026
  • Development of a concrete vision for a future R&D center
  • Participation in Helical Fusion's nuclear fusion power generation Helix Program
  • Introduction of manufacturing equipment for Naflon PFA-HG tubes
  • Development of cell-to-cell sealing materials for water electrolysis equipment, high-speed communication substrates and high-purity chemical piping materials
Key KPIsA metric the company considers important as a management benchmark.
  • Equity ratio77.7 %
    Year on year against the same period last year+3.2%
  • Interest-bearing debt dependence ratio4.2 %
  • DOE5.1 %
  • Total Payout Ratio58.1 %
  • ROE13.9 %
    Year on year against the same period last year-1.6%
  • ROIC10.7 %
    Year on year against the same period last year-1.5%
  • EBITDA443 Hundreds of millions of yen
    Year on year against the same period last year-6.5%
  • GHG Emissions16.9 10,000 t-CO2eq
    Year on year against the same period last year-6.1%
  • Renewable energy adoption rate18 %
    Year on year against the same period last year+5.0%
Segment results
  • Plant construction and sales
    Net Sales795 Hundreds of millions of yen (YoY +1.3%)
    Operating profit120 Hundreds of millions of yen (YoY -4.2%)
  • Industrial Products
    Net Sales533 Hundreds of millions of yen (YoY +0.3%)
    Operating profit101 Hundreds of millions of yen (YoY -8.5%)
  • High-performance products (semiconductor-related products)
    Net Sales391 Hundreds of millions of yen (YoY -12.3%)
    Operating profit69 Hundreds of millions of yen (YoY -32.5%)
  • Automotive Components
    Net Sales515 Hundreds of millions of yen (YoY +0.6%)
    Operating profit53 Hundreds of millions of yen (YoY +17.0%)
  • Building materials
    Net Sales285 Hundreds of millions of yen (YoY -2.1%)
    Operating profit27 Hundreds of millions of yen (YoY +91.8%)
Medium-term management plan targets
Target fiscal yearFiscal year ending March 2027
Net Sales¥270.0 billion
Operating profit margin18% (excluding expenses related to the new core system)
Capital expenditures¥13.0 billion
ROE15.0% or higher
ROIC14.0%
EBITDA¥55 billion
NGI80 points or higher
Financial targets
ROE
Actual results13.9 %
Target15 %
ROIC
Actual results10.7 %
Target14 %
Equity ratio
Actual results77.7 %
TargetDo not raise it above the current level
Market Size / Share
Japanese semiconductor manufacturing equipment sales forecast: CAGR of 6% from 2028 onward, ¥53.0 billion in 2026 (as stated in the presentation)
Capital expenditures
Actual results for the fiscal year ending March 2026110 Hundreds of millions of yen
Forecast for the fiscal year ending March 2027130 Hundreds of millions of yen
Annual Dividend
Fiscal year ending March 2026¥164 (trend chart on a pre-stock-split basis), ¥54.7 (amount reflecting the stock split)
Forecast for the fiscal year ending March 2027¥65 (ordinary dividend of ¥58 and 130th-anniversary commemorative dividend of ¥7)
Acquisition of treasury shares
Buyback limitUp to ¥5 billion
Contents of this document
ItemDetails
Document typeFinancial results presentation
Fiscal Period CoveredFiscal year ending March 2026
Net Sales2,519 Hundreds of millions of yen (YoY -1.8%)
Operating profit370 Hundreds of millions of yen (YoY -6.8%)
Ordinary income394 Hundreds of millions of yen (YoY -5.6%)
Net income316 Hundreds of millions of yen (YoY -1.4%)
Operating profit margin14.7 %
Full-year earnings forecastSubject Fiscal year ending March 2027 / Net Sales 2,700 Hundreds of millions of yen / Operating profit 450 Hundreds of millions of yen / Ordinary income 450 Hundreds of millions of yen / Profit attributable to owners of the parent 320 Hundreds of millions of yen
Self-assessment against the planGenerally solid finish
Segment resultsSegment Plant construction and sales / Net Sales 795 Hundreds of millions of yen (YoY +1.3%) / Operating profit 120 Hundreds of millions of yen (YoY -4.2%), Segment Industrial Products / Net Sales 533 Hundreds of millions of yen (YoY +0.3%) / Operating profit 101 Hundreds of millions of yen (YoY -8.5%), Segment High-performance products (semiconductor-related products) / Net Sales 391 Hundreds of millions of yen (YoY -12.3%) / Operating profit 69 Hundreds of millions of yen (YoY -32.5%), Segment Automotive Components / Net Sales 515 Hundreds of millions of yen (YoY +0.6%) / Operating profit 53 Hundreds of millions of yen (YoY +17.0%), Segment Building materials / Net Sales 285 Hundreds of millions of yen (YoY -2.1%) / Operating profit 27 Hundreds of millions of yen (YoY +91.8%)
Breakdown of Factors Affecting the ChangeRevenue for the fiscal year ended March 2026 From ¥256.5 billion in the fiscal year ended March 2025, including ¥1.0 billion from plant construction and sales, ¥0.1 billion from industrial products, a ¥4.6 billion decline in high-performance products, ¥0.3 billion from automotive parts and a ¥0.6 billion decline in building materials, to ¥251.9 billion in the fiscal year ended March 2026 / Operating profit, fiscal year ended March 2026 From ¥39.7 billion in the fiscal year ended March 2025, after a ¥0.9 billion decrease in gross profit and a ¥1.8 billion increase in SG&A expenses, to ¥37.0 billion in the fiscal year ended March 2026 / Decrease in income taxes and other taxes ¥3.5 billion (¥2.7 billion related to Kimitsu RW and ¥0.8 billion related to deferred tax assets at NRI/Indonesia)
Key KPIsIndicator Equity ratio / Value 77.7 % / Year on year against the same period last year 3.2 %, Indicator Interest-bearing debt dependence ratio / Value 4.2 % / Year on year against the same period last year Not disclosed, Indicator DOE / Value 5.1 % / Year on year against the same period last year Not disclosed, Indicator Total Payout Ratio / Value 58.1 % / Year on year against the same period last year Not disclosed, Indicator ROE / Value 13.9 % / Year on year against the same period last year -1.6 %, Indicator ROIC / Value 10.7 % / Year on year against the same period last year -1.5 %, Indicator EBITDA / Value 443 Hundreds of millions of yen / Year on year against the same period last year -6.5 Hundreds of millions of yen, Indicator GHG Emissions / Value 16.9 10,000 t-CO2eq / Year on year against the same period last year -6.1 10,000 t-CO2eq, Indicator Renewable energy adoption rate / Value 18 % / Year on year against the same period last year 5 %
Assumptions Underlying the Business OutlookRecovery in semiconductor market conditions, expansion of generative AI, recovery in electronics-related market conditions, and increased construction volumes toward the restart of nuclear power plants and completion of reprocessing plants. Numerical assumptions are Not disclosed
Medium-term management plan targetsTarget fiscal year Fiscal year ending March 2027 / Net Sales ¥270.0 billion / Operating profit margin 18% (excluding expenses related to the new core system) / Capital expenditures ¥13.0 billion / ROE 15.0% or higher / ROIC 14.0% / EBITDA ¥55 billion / NGI 80 points or higher
Financial targetsROE Actual results 13.9 % / Target 15 % / ROIC Actual results 10.7 % / Target 14 % / Equity ratio Actual results 77.7 % / Target Do not raise it above the current level
Annual DividendFiscal year ending March 2026 ¥164 (trend chart on a pre-stock-split basis), ¥54.7 (amount reflecting the stock split) / Forecast for the fiscal year ending March 2027 ¥65 (ordinary dividend of ¥58 and 130th-anniversary commemorative dividend of ¥7)
Acquisition of treasury sharesBuyback limit Up to ¥5 billion / Number of Shares Not disclosed / Period Not disclosed
Capital expendituresActual results for the fiscal year ending March 2026 110 Hundreds of millions of yen / Forecast for the fiscal year ending March 2027 130 Hundreds of millions of yen
Market Size / ShareJapanese semiconductor manufacturing equipment sales forecast: CAGR of 6% from 2028 onward, ¥53.0 billion in 2026 (as stated in the presentation)
New initiativesThe full-scale launch of the new core system was postponed from October 2026 to May 2027 or later, NICHIAS DISCOVERY GATE to grand-open in April 2026, Development of a concrete vision for a future R&D center, Participation in Helical Fusion's nuclear fusion power generation Helix Program, Introduction of manufacturing equipment for Naflon PFA-HG tubes, Development of cell-to-cell sealing materials for water electrolysis equipment, high-speed communication substrates and high-purity chemical piping materials
Items this document does not state (11)
Gross Profit MarginSelling, general and administrative expensesResults for the three months of the current quarterProgress against full-year forecastUnit price and quantity metricsNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookPayout ratioOrders received and order backlogKey points of the Q&A

These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.

The reasons the company gives

The company's own explanation, not something inferred from the numbers.

The company explained that profitability improved in the automotive parts and building materials businesses amid increasing uncertainty and a lack of clarity. Lower sales of high-performance products, lower gross profit and higher SG&A expenses were cited as factors behind the decline in operating income. For net income, a ¥3.5 billion decrease in income taxes and other taxes related to a subsidiary matter was a factor driving the increase.

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Financial Results Briefing for the Fiscal Year Ending March 2026 | NICHIAS CORPORATION (5393) timely disclosure | Komori