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Nippon Shikizai, First Half Ordinary Profit Decreases by 79%, Jun-Aug Ordinary Profit Decreases by 91%

Tue Oct 14, 2025 5:00 pm JST Earnings

4920 Nippon Shikizai, Inc. 【J-GAAP】

Earnings Report

Nippon Shikizai, Inc. <4920> [TSE Std] announced its financial results after the market closed on October 14th (17:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending February 2026 (March to August) significantly dropped 78.8% from the same period last year to 90 million yen. Progress toward the full-year plan of 133 million yen was 67.7%, almost the same as the five-year average of 66.6%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit/loss for the September to February period (second half) is expected to turn into a profit of 43 million yen (compared to a loss of 57 million yen in the same period last year).

In the most recent three-month period, from June to August (2Q), the consolidated ordinary profit significantly dropped to 15 million yen, a 90.7% decrease compared to the same period last year. The operating profit margin drastically worsened from 4.7% in the same period last year to 0.6%.

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Actual Results

Accumulated Results 2nd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Mar - Aug, 2023 7,355 286 272 217 103.6 66.8 Oct 12, 2023 J-GAAP
Mar - Aug, 2024 9,505 489 424 252 120.7 115.5 Oct 11, 2024 J-GAAP
Mar - Aug, 2025 8,031 110 90 49 23.5 67.7 Oct 14, 2025 J-GAAP
YoY -15.5% -77.5% -78.8% -80.6% -80.6%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar - Aug, 2025 Guidance 8,031 110 90 49 23.5 0 Oct 7, 2025 J-GAAP
Mar - Aug, 2025 Results 8,031 110 90 49 23.5 0 Oct 14, 2025 J-GAAP
Revision Rate 0.0% 0.0% 0.0% 0.0% -0.1%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Sep - Feb, 2024 8,127 0 -57 -36 -17.2 20 Apr 11, 2025 J-GAAP
Sep - Feb, 2025 Guidance 8,431 133 43 272 129.6 30 Oct 7, 2025 J-GAAP
YoY +3.7% － － － －

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Feb, 2024 15,050 441 407 398 190.0 20 Apr 11, 2024 J-GAAP
Feb, 2025 17,632 489 367 216 103.2 20 Apr 11, 2025 J-GAAP
Feb, 2026 Guidance 16,462 243 133 321 153.0 30 Oct 7, 2025 J-GAAP
YoY -6.6% -50.3% -63.8% +48.6% +48.2%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jun - Aug, 2024 4,574 213 162 106 50.8 4.7 Oct 11, 2024 J-GAAP
Sep - Nov, 2024 3,846 -43 -87 -54 -25.8 -1.1 Jan 14, 2025 J-GAAP
Dec - Feb, 2024 4,281 43 30 18 8.6 1.0 Apr 11, 2025 J-GAAP
Mar - May, 2025 3,976 86 75 50 24.2 2.2 Jul 15, 2025 J-GAAP
Jun - Aug, 2025 4,055 24 15 -1 -0.5 0.6 Oct 14, 2025 J-GAAP
YoY -11.3% -88.7% -90.7% － －

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