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Nippon Avionics, Ordinary Profit Forecast for the Fiscal Year Revised Upward by 26%, Raises Record High Profit Forecast

Wed Oct 29, 2025 6:00 pm JST Earnings

6946 Nippon Avionics Co., Ltd. 【J-GAAP】

Earnings Report

Nippon Avionics Co., Ltd. <6946> [TSE Std] announced its financial results after the market closed on October 29th (18:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2026 (April to September) expanded 1.90 billion yen, an increase 73.1% compared to the same period last year.

In addition, the full-year forecast for consolidated ordinary profit has been revised upward 25.8%, from the previous forecast of 3.10 billion yen to 3.90 billion yen (compared to 2.71 billion yen in the previous period), increasing the growth rate from 14.3% to 43.9%, further surpassing the previous forecast of record-high profits for five consecutive terms.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to grow 23.9% from the same period last year, reaching 1.99 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased 69.3% from the same period last year, reaching 1.33 billion yen. The operating profit margin rose from 16.4% in the same period last year to 18.2%.

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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
Apr - Sep, 2023 8,669 910 896 744 46.7 41.6 Oct 30, 2023 J-GAAP
Apr - Sep, 2024 9,106 1,148 1,099 734 45.6 40.5 Oct 29, 2024 J-GAAP
Apr - Sep, 2025 12,703 1,977 1,902 1,300 85.0 48.8 Oct 29, 2025 J-GAAP
YoY +39.5% +72.2% +73.1% +77.1% +86.5%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Apr - Sep, 2025 Guidance ー ー ー ー － 0 May 13, 2025 J-GAAP
Apr - Sep, 2025 Results 12,703 1,977 1,902 1,300 85.0 0 Oct 29, 2025 J-GAAP
Revision Rate － － － － －

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2026 Prev 22,500 3,200 3,100 2,200 148.8 10 May 13, 2025 J-GAAP
Mar, 2026 New 25,000 4,000 3,900 2,760 186.6 10 Oct 29, 2025 J-GAAP
Revision Rate +11.1% +25.0% +25.8% +25.5% +25.5%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Oct - Mar, 2024 11,016 1,648 1,612 1,230 77.9 6 May 13, 2025 J-GAAP
Oct - Mar, 2025 Guidance 12,297 2,023 1,998 1,460 98.7 10 Oct 29, 2025 J-GAAP
YoY +11.6% +22.8% +23.9% +18.7% +26.7%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 18,055 2,178 2,152 2,149 131.9 6 May 10, 2024 J-GAAP
Mar, 2025 20,122 2,796 2,711 1,964 124.4 6 May 13, 2025 J-GAAP
Mar, 2026 Guidance 25,000 4,000 3,900 2,760 186.6 10 Oct 29, 2025 J-GAAP
YoY +24.2% +43.1% +43.9% +40.5% +50.1%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 5,019 823 791 543 33.7 16.4 Oct 29, 2024 J-GAAP
Oct - Dec, 2024 4,564 517 499 331 20.8 11.3 Jan 31, 2025 J-GAAP
Jan - Mar, 2025 6,452 1,131 1,113 899 56.9 17.5 May 13, 2025 J-GAAP
Apr - Jun, 2025 5,037 582 563 388 25.2 11.6 Aug 1, 2025 J-GAAP
Jul - Sep, 2025 7,666 1,395 1,339 912 59.6 18.2 Oct 29, 2025 J-GAAP
YoY +52.7% +69.5% +69.3% +68.0% +76.9%

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