Worth reading
60In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Improvement
Direction inferred from the company’s description.Scale
36.4
Year-on-year change in operating profit (%)Wording
Conditional
How definitive the wording is.Results for this period
Full year1 April 2025–31 March 2026ConsolidatedIFRSNet Sales911,644¥ millionYear on year +14.4%Progress 91.2%
Operating profit38,812¥ millionYear on year +36.4%Progress 92.4%
Ordinary income38,039¥ millionYear on year +51.5%Progress 95.1%
Net income attributable to owners of the parent22,867¥ millionYear on year +114.8%Progress 95.3%
The width of the band at each stage is based on revenue. The narrower it becomes toward the bottom, the smaller the proportion of revenue that remains as profit. The dotted outline is the full-year forecast and the band inside it is the result for this period. The progress rate is the result divided by the forecast.
Net income per share¥46.75
Operating Margin4.3%
Financial position at period-end
Total assets1,239,769¥ million
of which net assets 692,135 ¥ millionEquity ratio 54.2%vs. prior year-end +0.8pt
塗りつぶした部分が自己資本比率です。総資産のうち、返済のいらない自前の資金がどれだけかを表します。The thin vertical line indicates the level at the end of the previous fiscal year.
Cash inflows and outflows
Operating+97,806
Investment-64,752
Financials-37,790
Net change-4,736
Stacked from zero: upward is an increase in cash, downward a decrease (in ¥ million).The net change represented by the dotted line is the total of three items, calculated from figures provided by the company.
Cash and cash equivalents at end of period¥142,123 million
Segment revenueIndustrial-Machinery Business ¥377,491 million (YoY +4.4%), Automotive Business ¥403,304 million (YoY +0.4%), Steering Business ¥100,554 million
Segment profitIndustrial-Machinery Business ¥12,565 million (YoY -9.9%), Automotive Business ¥17,366 million (YoY +18.0%), Steering Business ¥7,730 million (YoY +558.5%)
Regional salesRegion Japan / Current fiscal year ¥286,949 million / Previous period ¥261,280 million, Region Americas / Current fiscal year ¥183,149 million / Previous period ¥149,960 million, Region Europe / Current fiscal year ¥126,699 million / Previous period ¥99,977 million, Region China / Current fiscal year ¥194,490 million / Previous period ¥172,636 million, Region Other Asia / Current fiscal year ¥120,355 million / Previous period ¥112,812 million
Outlook and shareholder returns
Full-year earnings forecast
Net Sales¥1,000,000 million (YoY +9.7%)
Operating profit¥42,000 million (YoY +8.2%)
Ordinary income¥40,000 million (YoY +5.2%)
Net income¥24,000 million (YoY +5.0%)
Annual Dividend Forecast¥34 per share → ¥34 per share（0.0%）
Payout ratio72.7%
Shareholder Return PolicyDividend payout ratio of 30–50%, with a target DOE (dividend on equity attributable to owners of the parent) floor of 2.5%
Factors Behind Changes in Business Performance
The company cites a gradual recovery in demand for capital investment, increased sales in the Americas, Japan and China, the passing through of tariff costs into selling prices, the restructuring of the European business, and the consolidation of NSKステアリング＆コントロール.
Disclosure regarding the going concern assumption
No applicable matters
Change in accounting policy
基準改正に伴う変更 Noそれ以外の変更 No見積りの変更 No修正再表示 No
Changes in the scope of consolidationNew 1 company: NSKステアリング＆コントロール株式会社 / Excluded 0 companies
Material subsequent events日本精工 and NTN entered into a basic agreement to establish a joint holding company and integrate their management operations. The integration is planned to be carried out through a joint share transfer, with the establishment and listing of the joint holding company scheduled for October 2027.
Breakdown of extraordinary income (loss)Gain on recognition of negative goodwill ¥8,527 million, Loss on step acquisition ¥4,662 million
Depreciation and amortization¥55,115 million
Availability of Supplementary Financial Results MaterialsYes
Availability of Financial Results BriefingYes (for institutional investors and analysts)
Issued Shares at Period-End500,000,000
Treasury Shares at Period-End10,679,019
| Item | Details |
|---|---|
| Fiscal Period Classification | Full year |
| Accounting standards | IFRS |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 April 2025–31 March 2026 |
| Net Sales | ¥911,644 million (YoY +14.4%) |
| Operating profit | ¥38,812 million (YoY +36.4%) |
| Ordinary income | ¥38,039 million (YoY +51.5%) |
| Profit attributable to owners of the parent | ¥22,867 million (YoY +114.8%) |
| Net income per share | ¥46.75 |
| Operating Margin | 4.3% |
| Equity ratio | End of the current fiscal period 54.2% / End of previous period 53.4% |
| Total assets | ¥1,239,769 million |
| Net assets | ¥692,135 million |
| Cash flows from operating activities | ¥97,806 million |
| Cash flows from investing activities | ¥-64,752 million |
| Cash flows from financing activities | ¥-37,790 million |
| Cash and cash equivalents at end of period | ¥142,123 million |
| Full-year earnings forecast | Net Sales ¥1,000,000 million (YoY +9.7%) / Operating profit ¥42,000 million (YoY +8.2%) / Ordinary income ¥40,000 million (YoY +5.2%) / Net income ¥24,000 million (YoY +5.0%) |
| Annual Dividend Forecast | ¥34 per share → ¥34 per share（0.0%） |
| Payout ratio | 72.7% |
| Shareholder Return Policy | Dividend payout ratio of 30–50%, with a target DOE (dividend on equity attributable to owners of the parent) floor of 2.5% |
| Segment revenue | Industrial-Machinery Business ¥377,491 million (YoY +4.4%), Automotive Business ¥403,304 million (YoY +0.4%), Steering Business ¥100,554 million |
| Segment profit | Industrial-Machinery Business ¥12,565 million (YoY -9.9%), Automotive Business ¥17,366 million (YoY +18.0%), Steering Business ¥7,730 million (YoY +558.5%) |
| Regional sales | Region Japan / Current fiscal year ¥286,949 million / Previous period ¥261,280 million, Region Americas / Current fiscal year ¥183,149 million / Previous period ¥149,960 million, Region Europe / Current fiscal year ¥126,699 million / Previous period ¥99,977 million, Region China / Current fiscal year ¥194,490 million / Previous period ¥172,636 million, Region Other Asia / Current fiscal year ¥120,355 million / Previous period ¥112,812 million |
| Depreciation and amortization | ¥55,115 million |
| Breakdown of extraordinary income (loss) | Gain on recognition of negative goodwill ¥8,527 million, Loss on step acquisition ¥4,662 million |
| Disclosure regarding the going concern assumption | No applicable matters |
| Change in accounting policy | Changes due to revisions to standards No / Other changes No / Change in accounting estimate No / Restatement No |
| Changes in the scope of consolidation | New 1 company: NSKステアリング＆コントロール株式会社 / Excluded 0 companies |
| Material subsequent events | 日本精工 and NTN entered into a basic agreement to establish a joint holding company and integrate their management operations. The integration is planned to be carried out through a joint share transfer, with the establishment and listing of the joint holding company scheduled for October 2027. |
| Availability of Supplementary Financial Results Materials | Yes |
| Availability of Financial Results Briefing | Yes (for institutional investors and analysts) |
| Issued Shares at Period-End | 500,000,000 |
| Treasury Shares at Period-End | 10,679,019 |
| Factors Behind Changes in Business Performance | The company cites a gradual recovery in demand for capital investment, increased sales in the Americas, Japan and China, the passing through of tariff costs into selling prices, the restructuring of the European business, and the consolidation of NSKステアリング＆コントロール. |
Items this document does not state (3)
Revision to Earnings ForecastOrders received and order backlogImpairment loss
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 cites a gradual recovery in demand for capital investment, the passing through of tariff costs into selling prices, increased sales in each region, and the consolidation of NSKステアリング＆コントロール. Profit was also affected by a gain on the recognition of negative goodwill and a loss on step acquisitions associated with its consolidation, as well as one-time costs related to the restructuring of the European business.
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