Worth reading
95Important
Scored from 4 of 6 sectionsDirection
Mixed performance
Direction inferred from the company’s description.Scale
163
¥100 million (year-on-year change in revenue for the fiscal year ending March 2027)Wording
Conditional
How definitive the wording is.Contents of this document
Presentation materials for financial resultsFull year ended March 2026 (including the outlook for the fiscal year ending March 2027)12 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales8,263 Hundreds of millions of yen+0.1%
Operating profit310 Hundreds of millions of yen+35.2%
Ordinary income235 Hundreds of millions of yen+123.8%
Net income129 Hundreds of millions of yen
Operating profit marginFull year ended March 2026: 3.8%, up 1.0 percentage point year on year
Full-year earnings forecast
Net Sales
8,100 Hundreds of millions of yen
Operating profit
330 Hundreds of millions of yen
Ordinary income
210 Hundreds of millions of yen
Extraordinary Gains and Losses
60 Hundreds of millions of yen
Net income
150 Hundreds of millions of yen
ROE
5.2 %
Inventories
2,200 Hundreds of millions of yen
Capital Expenditure
360 Hundreds of millions of yen
Free cash flow
360 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.
Revenue and profit growth both year on year and versus the announced forecastBreakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Operating profit, fiscal year ended March 2026
Lower material costs+¥12.6 billion
Higher material costs and other factors-¥4.2 billion
Personnel Expenses-¥3.9 billion
Expenses, etc.+¥4.1 billion
Cost impact-¥8.3 billion
Selling price pass-through+¥6.2 billion
Revenue for the fiscal year ended March 2026
Foreign exchange+¥11.1 billion
Selling price+¥5.8 billion
Tariff pass-through+¥6.2 billion
Volume-¥22.3 billion
Operating profit for the fiscal year ending March 2027
Lower material costs+¥9.7 billion
Higher material costs and other factors-¥4.9 billion
Personnel Expenses-¥3.4 billion
Expenses, etc.-¥2.0 billion
Selling price pass-through+¥8.7 billion
Cost impact-¥5.7 billion
Revenue for the fiscal year ending March 2027
Foreign exchange+¥200 million
Selling price+¥5.8 billion
Tariff pass-through+¥8.7 billion
Volume-¥31.0 billion
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
1USD¥150
1EURO¥175
New initiatives
- Expand production capacity at a dedicated aircraft bearing plant in Japan
- Establish a mass-production system for resin-molded insulated bearings in China
- Expand CVJ production capacity and strengthen R&D capabilities in India
- Implement production restructuring centered on the Americas
- Develop and adopt a high-speed unit for visual inspection
- Install mobile independent power source N3 N-Cube at disaster-prevention roadside stations
- Rename the fine coating equipment X-CELList
- Basic agreement on management integration through the establishment of a joint holding company with NSK Ltd.
Key KPIsA metric the company considers important as a management benchmark.
- ROE4.9 %Year on year against the same period last year+14.5 percentage points
- Inventory turnover3.4 timesYear on year against the same period last year±0.0 times
- Aftermarket revenue1,590 Hundreds of millions of yenYear on year against the same period last year+3.3%
- Aftermarket revenue mix19.6 %Year on year against the same period last year+0.8 percentage points
- Increase in new distributors41 companies
- Inventory of fast-moving part numbers4,000 part numbers or more
- Semi-standard inventory800 Model number
Segment results
Bearings and Other
Net Sales
3,489 Hundreds of millions of yen
Operating profit
123 Hundreds of millions of yen
Year-on-Year Change in Revenue (%)2.4
Operating profit year-on-year_pct-10.2
CVJ Axles
Net Sales
4,775 Hundreds of millions of yen
Operating profit
188 Hundreds of millions of yen
Year-on-Year Change in Revenue (%)-1.5
Operating profit year-on-year_pct102.2
Medium-term management plan targets
DRIVE NTN100 Final structural reform benefits
Approximately ¥10 billion / third year
Target fiscal yearFiscal 2026
Operating margin in 2035
Over 10%
Target fiscal year2035
Aftermarket revenue mix
At least 40%
Target fiscal year2035
Financial targets
ROEAchieve and further improve ROE that consistently exceeds the cost of equity (target position in 2035)
Actual valueFiscal year ended March 2026: 4.9%
Capital expenditures
325 Hundreds of millions of yen
Annual Dividend
Annual dividend per share¥11
Interim¥5.5
End of period¥5.5
Forecast for the fiscal year ending March 2027¥13
Payout ratio
not disclosed (DOE floor of 2.5%; target DOE of 4% after completion of DRIVE NTN100 Final)Three months of the current quarter
Net Sales
2,230 Hundreds of millions of yen
Operating profit
117 Hundreds of millions of yen
Ordinary income
95 Hundreds of millions of yen
Net income
92 Hundreds of millions of yen
| Item | Details |
|---|---|
| Document type | Presentation materials for financial results |
| Fiscal Period Covered | Full year ended March 2026 (including the outlook for the fiscal year ending March 2027) |
| Net Sales | 8,263 Hundreds of millions of yen (YoY +0.1%) |
| Operating profit | 310 Hundreds of millions of yen (YoY +35.2%) |
| Ordinary income | 235 Hundreds of millions of yen (YoY +123.8%) |
| Net income | 129 Hundreds of millions of yen |
| Operating profit margin | Full year ended March 2026: 3.8%, up 1.0 percentage point year on year |
| Three months of the current quarter | Net Sales 2,230 Hundreds of millions of yen / Operating profit 117 Hundreds of millions of yen / Ordinary income 95 Hundreds of millions of yen / Net income 92 Hundreds of millions of yen |
| Full-year earnings forecast | Net Sales 8,100 Hundreds of millions of yen / Operating profit 330 Hundreds of millions of yen / Ordinary income 210 Hundreds of millions of yen / Extraordinary Gains and Losses 60 Hundreds of millions of yen / Net income 150 Hundreds of millions of yen / ROE 5.2 % / Inventories 2,200 Hundreds of millions of yen / Capital Expenditure 360 Hundreds of millions of yen / Free cash flow 360 Hundreds of millions of yen |
| Self-assessment against the plan | Revenue and profit growth both year on year and versus the announced forecast |
| Segment results | Bearings and Other Net Sales 3,489 Hundreds of millions of yen / Operating profit 123 Hundreds of millions of yen / Year-on-Year Change in Revenue (%) 2.4 / Operating profit year-on-year_pct -10.2 / CVJ Axles Net Sales 4,775 Hundreds of millions of yen / Operating profit 188 Hundreds of millions of yen / Year-on-Year Change in Revenue (%) -1.5 / Operating profit year-on-year_pct 102.2 |
| Breakdown of Factors Affecting the Change | Operating profit, fiscal year ended March 2026 Lower material costs +¥12.6 billion / Higher material costs and other factors -¥4.2 billion / Personnel Expenses -¥3.9 billion / Expenses, etc. +¥4.1 billion / Cost impact -¥8.3 billion / Selling price pass-through +¥6.2 billion / Revenue for the fiscal year ended March 2026 Foreign exchange +¥11.1 billion / Selling price +¥5.8 billion / Tariff pass-through +¥6.2 billion / Volume -¥22.3 billion / Operating profit for the fiscal year ending March 2027 Lower material costs +¥9.7 billion / Higher material costs and other factors -¥4.9 billion / Personnel Expenses -¥3.4 billion / Expenses, etc. -¥2.0 billion / Selling price pass-through +¥8.7 billion / Cost impact -¥5.7 billion / Revenue for the fiscal year ending March 2027 Foreign exchange +¥200 million / Selling price +¥5.8 billion / Tariff pass-through +¥8.7 billion / Volume -¥31.0 billion |
| Key KPIs | Indicator name ROE / Value 4.9 % / Year on year against the same period last year +14.5 percentage points, Indicator name Inventory turnover / Value 3.4 times / Year on year against the same period last year ±0.0 times, Indicator name Aftermarket revenue / Value 1,590 Hundreds of millions of yen / Year on year against the same period last year 3.3 Hundreds of millions of yen, Indicator name Aftermarket revenue mix / Value 19.6 % / Year on year against the same period last year +0.8 percentage points, Indicator name Increase in new distributors / Value 41 companies / Year on year against the same period last year Not disclosed, Indicator name Inventory of fast-moving part numbers / Value 4,000 part numbers or more / Year on year against the same period last year Not disclosed, Indicator name Semi-standard inventory / Value 800 Model number / Year on year against the same period last year Not disclosed |
| Assumptions Underlying the Business Outlook | 1USD ¥150 / 1EURO ¥175 |
| Medium-term management plan targets | DRIVE NTN100 Final structural reform benefits Approximately ¥10 billion / third year / Operating margin in 2035 Over 10% / Aftermarket revenue mix At least 40% |
| Financial targets | ROE Achieve and further improve ROE that consistently exceeds the cost of equity (target position in 2035) / Actual value Fiscal year ended March 2026: 4.9% |
| Annual Dividend | Annual dividend per share ¥11 / Interim ¥5.5 / End of period ¥5.5 / Forecast for the fiscal year ending March 2027 ¥13 |
| Payout ratio | not disclosed (DOE floor of 2.5%; target DOE of 4% after completion of DRIVE NTN100 Final) |
| Capital expenditures | 325 Hundreds of millions of yen |
| New initiatives | Expand production capacity at a dedicated aircraft bearing plant in Japan, Establish a mass-production system for resin-molded insulated bearings in China, Expand CVJ production capacity and strengthen R&D capabilities in India, Implement production restructuring centered on the Americas, Develop and adopt a high-speed unit for visual inspection, Install mobile independent power source N3 N-Cube at disaster-prevention roadside stations, Rename the fine coating equipment X-CELList, Basic agreement on management integration through the establishment of a joint holding company with NSK Ltd. |
Items this document does not state (11)
Gross Profit MarginSelling, general and administrative expensesProgress against full-year forecastUnit price and quantity metricsNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookAcquisition of treasury sharesOrders received and order backlogMarket Size / ShareKey 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.For the fiscal year ended March 2026, although automotive demand remained sluggish, increased demand in the aftermarket and industrial machinery markets, the weaker yen, selling price improvements, cost reductions and tax effects in Japan contributed to results. For the fiscal year ending March 2027, revenue is expected to decline due to sluggish automotive demand, mainly in the Americas and Europe, while profit is expected to increase as a result of structural reform benefits, price pass-through, cost reductions, lower structural reform expenses and asset sales.
How to read this page
This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.