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NSK, Net Income Forecast for the Fiscal Year Revised Upward to an Unexpected 50% Increase

Tue Nov 4, 2025 3:30 pm JST Earnings

6471 NSK Ltd. 【IFRS】

Earnings Report

NSK Ltd. <6471> [TSE Prime] announced its financial results (based on IFRS) after the market closed on November 4th (15:30). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2026 (April to September) surged 4.7 times that of the same period last year, reaching 9.31 billion yen, exceeded the previous forecast of 3.50 billion yen.

In addition, the full-year forecast for consolidated net income has been revised upward 2.3 times, from the previous forecast of 7.00 billion yen to 16.0 billion yen (compared to 10.6 billion yen in the previous period), turning to a 50.3% increase in the consolidated net income outlook.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to decrease 23.0% from the same period last year to 6.68 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated net income surged 123 times that of the same period last year, reaching 8.23 billion yen. The operating profit margin significantly improved from 1.9% in the same period last year to 5.4%.

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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 386,691 11,123 10,528 659 1.3 40.2 Oct 31, 2023 IFRS
Apr - Sep, 2024 397,643 9,704 7,735 1,969 4.0 30.8 Oct 31, 2024 IFRS
Apr - Sep, 2025 412,250 16,467 16,061 9,319 19.1 55.4 Nov 4, 2025 IFRS
YoY +3.7% +69.7% +107.6% +373.3% +373.0%

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 380,000 10,500 9,000 3,500 7.2 17 May 12, 2025 IFRS
Apr - Sep, 2025 Results 412,250 16,467 16,061 9,319 19.1 17 Nov 4, 2025 IFRS
Revision Rate +8.5% +56.8% +78.5% +166.3% +166.2%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2026 Prev 760,000 22,000 19,000 7,000 14.3 34 May 12, 2025 IFRS
Mar, 2026 New 885,000 30,000 29,000 16,000 32.7 34 Nov 4, 2025 IFRS
Revision Rate +16.4% +36.4% +52.6% +128.6% +128.5%

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 399,024 18,753 17,365 8,678 17.8 17 May 12, 2025 IFRS
Oct - Mar, 2025 Guidance 472,750 13,533 12,939 6,681 13.7 17 Nov 4, 2025 IFRS
YoY +18.5% -27.8% -25.5% -23.0% -23.1%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 788,867 27,391 26,210 8,502 17.3 30 May 9, 2024 IFRS
Mar, 2025 796,667 28,457 25,100 10,647 21.8 34 May 12, 2025 IFRS
Mar, 2026 Guidance 885,000 30,000 29,000 16,000 32.7 34 Nov 4, 2025 IFRS
YoY +11.1% +5.4% +15.5% +50.3% +50.1%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 197,148 3,831 2,582 67 0.1 1.9 Oct 31, 2024 IFRS
Oct - Dec, 2024 199,278 5,929 5,119 1,962 4.0 3.0 Jan 31, 2025 IFRS
Jan - Mar, 2025 199,746 12,824 12,246 6,716 13.7 6.4 May 12, 2025 IFRS
Apr - Jun, 2025 195,760 4,790 4,894 1,083 2.2 2.4 Jul 31, 2025 IFRS
Jul - Sep, 2025 216,490 11,677 11,167 8,236 16.8 5.4 Nov 4, 2025 IFRS
YoY +9.8% +204.8% +332.5% +12,192.5% +11,928.6%

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