Worth reading
52Recurring
Scored from 4 of 6 sectionsDirection
Mixed performance
Direction inferred from the company’s description.Scale
24.1
% (year-on-year change in operating income)Wording
Avoiding a definitive answer
How definitive the wording is.Results for this period
Full year1 April 2025–31 March 2026ConsolidatedJapanese GAAPNet Sales169,724¥ millionYear on year -3.4%Progress 91.7%
Operating profit6,456¥ millionYear on year +24.1%Progress 74.2%
Ordinary income8,326¥ millionYear on year +10.9%Progress 92.5%
Net income attributable to owners of the parent6,310¥ millionYear on year +7.4%Progress 94.2%
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¥93.97
Operating Margin3.8%
Financial position at period-end
Total assets195,570¥ million
of which net assets 123,517 ¥ millionEquity ratio 61.2%vs. prior year-end +3.9pt
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+8,163
Investment-6,556
Financials-3,844
Net change-2,237
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¥24,441 million
Segment revenue
Capacitor Business102,74860.5%+3.6%
NECST Business66,97639.5%-12.5%
Segment profit
Capacitor Business4,59871.2%+196.3%
NECST Business1,86028.8%-49.0%
Regional salesFiscal year ending March 2026 Japan ¥83,611 million / Americas ¥14,687 million / Greater China ¥45,098 million / Asia ¥16,891 million / Europe and other regions ¥9,436 million / Fiscal year ending March 2025 Japan ¥88,853 million / Americas ¥13,852 million / Greater China ¥45,622 million / Asia ¥17,420 million / Europe and other regions ¥10,003 million
Outlook and shareholder returns
Full-year earnings forecast
Net Sales¥185,000 million (YoY +9.0%)
Operating profit¥8,700 million (YoY +34.8%)
Ordinary income¥9,000 million (YoY +8.1%)
Net income¥6,700 million (YoY +6.2%)
Annual Dividend Forecast¥35.00 → ¥39.00
Payout ratioFiscal year ended March 2026: 39.4%; fiscal year ending March 2027 (forecast): 39.1%
Factors Behind Changes in Business Performance
In the Capacitor Business, demand expanded for products used in generative AI servers and data centers and for automotive-related equipment, demand recovered for film capacitors used in xEVs, and customer inventories were progressively worked down. In the NECST Business, performance was affected by delays in launching new residential energy storage systems, tariff issues, stagnation in the Chinese market, and an adjustment phase for amusement products.
Disclosure regarding the going concern assumption
Not applicable.
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 consolidationAdded: 0 companies; excluded: 0 companies
Material subsequent eventsNot applicable.
Impairment loss¥957 million
Breakdown of extraordinary income (loss)Extraordinary income Gain on sale of non-current assets ¥5 million, Gain on sale of investment securities ¥958 million / Extraordinary loss Losses on disposal of fixed assets ¥37 million, Impairment loss on investment securities ¥799 million, Business-Structure Reform Costs ¥1,252 million
Depreciation and amortization¥8,077 million
Availability of Supplementary Financial Results MaterialsYes
Availability of Financial Results BriefingAvailable (for institutional investors and analysts)
Issued Shares at Period-End70,000,000 shares
Treasury Shares at Period-End2,841,357 shares
| Item | Details |
|---|---|
| Fiscal Period Classification | Full year |
| Accounting standards | Japanese GAAP |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 April 2025–31 March 2026 |
| Net Sales | ¥169,724 million (YoY -3.4%) |
| Operating profit | ¥6,456 million (YoY +24.1%) |
| Ordinary income | ¥8,326 million (YoY +10.9%) |
| Profit attributable to owners of the parent | ¥6,310 million (YoY +7.4%) |
| Net income per share | ¥93.97 |
| Operating Margin | 3.8% |
| Equity ratio | End of the current fiscal period 61.2% / End of previous period 57.3% |
| Total assets | ¥195,570 million |
| Net assets | ¥123,517 million |
| Cash flows from operating activities | ¥8,163 million |
| Cash flows from investing activities | ¥-6,556 million |
| Cash flows from financing activities | ¥-3,844 million |
| Cash and cash equivalents at end of period | ¥24,441 million |
| Full-year earnings forecast | Net Sales ¥185,000 million (YoY +9.0%) / Operating profit ¥8,700 million (YoY +34.8%) / Ordinary income ¥9,000 million (YoY +8.1%) / Net income ¥6,700 million (YoY +6.2%) |
| Annual Dividend Forecast | ¥35.00 → ¥39.00 |
| Payout ratio | Fiscal year ended March 2026: 39.4%; fiscal year ending March 2027 (forecast): 39.1% |
| Segment revenue | Capacitor Business ¥102,748 million (YoY +3.6%) / NECST Business ¥66,976 million (YoY -12.5%) |
| Segment profit | Capacitor Business ¥4,598 million (YoY +196.3%) / NECST Business ¥1,860 million (YoY -49.0%) |
| Regional sales | Fiscal year ending March 2026 Japan ¥83,611 million / Americas ¥14,687 million / Greater China ¥45,098 million / Asia ¥16,891 million / Europe and other regions ¥9,436 million / Fiscal year ending March 2025 Japan ¥88,853 million / Americas ¥13,852 million / Greater China ¥45,622 million / Asia ¥17,420 million / Europe and other regions ¥10,003 million |
| Depreciation and amortization | ¥8,077 million |
| Impairment loss | ¥957 million |
| Breakdown of extraordinary income (loss) | Extraordinary income Gain on sale of non-current assets ¥5 million, Gain on sale of investment securities ¥958 million / Extraordinary loss Losses on disposal of fixed assets ¥37 million, Impairment loss on investment securities ¥799 million, Business-Structure Reform Costs ¥1,252 million |
| Disclosure regarding the going concern assumption | Not applicable. |
| 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 | Added: 0 companies; excluded: 0 companies |
| Material subsequent events | Not applicable. |
| Availability of Supplementary Financial Results Materials | Yes |
| Availability of Financial Results Briefing | Available (for institutional investors and analysts) |
| Issued Shares at Period-End | 70,000,000 shares |
| Treasury Shares at Period-End | 2,841,357 shares |
| Factors Behind Changes in Business Performance | In the Capacitor Business, demand expanded for products used in generative AI servers and data centers and for automotive-related equipment, demand recovered for film capacitors used in xEVs, and customer inventories were progressively worked down. In the NECST Business, performance was affected by delays in launching new residential energy storage systems, tariff issues, stagnation in the Chinese market, and an adjustment phase for amusement products. |
Items this document does not state (3)
Revision to Earnings ForecastShareholder Return PolicyOrders received and order backlog
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.Demand expanded or recovered in the information and communications and automotive-related fields, resulting in higher sales and profits in the Capacitor Business. The NECST Business, however, reported lower sales and profits due to delays in launching new products, tariff issues, and stagnation in the Chinese market.
How to read this page
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