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NIRECO, First Half Ordinary Profit Decreases by 10%

Thu Nov 13, 2025 4:00 pm JST Earnings

6863 NIRECO CORPORATION 【J-GAAP】

Earnings Report

NIRECO CORPORATION <6863> [TSE Std] announced its financial results after the market closed on November 13th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2026 (April to September) decreased 10.3% from the same period last year to 0.75 billion yen. Progress toward the full-year plan of 1.95 billion yen was 38.9%, also falling below the five-year average of 42.4%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to nearly flat at 1.19 billion yen, up 0.8% from the same period last year.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit grew 19.3% from the same period last year, reaching 0.58 billion yen. The operating profit margin rose from 19.3% in the same period last year to 21.1%.

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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 4,531 536 589 370 50.4 40.1 Nov 10, 2023 J-GAAP
Apr - Sep, 2024 4,908 788 845 550 74.5 41.7 Nov 13, 2024 J-GAAP
Apr - Sep, 2025 5,051 728 758 502 67.8 38.9 Nov 13, 2025 J-GAAP
YoY +2.9% -7.6% -10.3% -8.7% -9.0%

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 5,200 770 830 600 80.9 35 May 14, 2025 J-GAAP
Apr - Sep, 2025 Results 5,051 728 758 502 67.8 35 Nov 13, 2025 J-GAAP
Revision Rate -2.9% -5.5% -8.7% -16.3% -16.1%

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 5,848 1,119 1,183 1,012 136.8 71 May 14, 2025 J-GAAP
Oct - Mar, 2025 Guidance 5,949 1,122 1,192 888 123.8 50 Nov 13, 2025 J-GAAP
YoY +1.7% +0.3% +0.8% -12.3% -9.5%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 9,861 1,386 1,470 1,011 137.4 62 May 14, 2024 J-GAAP
Mar, 2025 10,756 1,907 2,028 1,562 211.1 95 May 14, 2025 J-GAAP
Mar, 2026 Guidance 11,000 1,850 1,950 1,390 193.8 85 May 14, 2025 J-GAAP
YoY +2.3% -3.0% -3.8% -11.0% -8.2%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 2,519 487 486 344 46.6 19.3 Nov 13, 2024 J-GAAP
Oct - Dec, 2024 2,662 504 548 463 62.6 18.9 Feb 6, 2025 J-GAAP
Jan - Mar, 2025 3,186 615 635 549 74.2 19.3 May 14, 2025 J-GAAP
Apr - Jun, 2025 2,283 145 178 105 14.3 6.4 Aug 8, 2025 J-GAAP
Jul - Sep, 2025 2,768 583 580 397 53.6 21.1 Nov 13, 2025 J-GAAP
YoY +9.9% +19.7% +19.3% +15.4% +15.0%

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