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Nippon Avionics, Ordinary Profit Forecast for the Fiscal Year Revised Upward by 25%, Raises Record High Profit Forecast

Fri Jan 30, 2026 4:00 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 January 30th (16:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2026 (April to December) surged 2.0 times that of the same period last year, reaching 3.26 billion yen.

In addition, the full-year forecast for consolidated ordinary profit has been revised upward 24.9%, from the previous forecast of 3.90 billion yen to 4.87 billion yen (compared to 2.71 billion yen in the previous period), increasing the growth rate from 43.9% to 79.6%, further surpassing the previous forecast of record-high profits for five consecutive terms.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated ordinary profit for the October to March period (second half) is expected to increase 48.5%, from the previous forecast of 1.99 billion yen to 2.96 billion yen (compared to 1.61 billion yen in the same period of the previous year), increasing the growth rate from 23.9% to 84.1%.

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit surged 2.7 times that of the same period last year, reaching 1.36 billion yen. The operating profit margin jumped from 11.3% in the same period last year to 19.8%.

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Actual Results

Accumulated Results 3rd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Apr - Dec, 2023 13,253 1,509 1,490 1,166 72.1 69.2 Jan 31, 2024 J-GAAP
Apr - Dec, 2024 13,670 1,665 1,598 1,065 67.0 58.9 Jan 31, 2025 J-GAAP
Apr - Dec, 2025 19,726 3,371 3,263 2,231 147.3 67.0 Jan 30, 2026 J-GAAP
YoY +44.3% +102.5% +104.2% +109.5% +120.0%

Guidance Update

Second Half Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Oct - Mar, 2025 Prev 12,297 2,023 1,998 1,460 98.7 10 Oct 29, 2025 J-GAAP
Oct - Mar, 2025 New 15,797 3,023 2,968 2,140 144.7 10 Jan 30, 2026 J-GAAP
Revision Rate +28.5% +49.4% +48.5% +46.6% +46.6%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2026 Prev 25,000 4,000 3,900 2,760 186.6 10 Oct 29, 2025 J-GAAP
Mar, 2026 New 28,500 5,000 4,870 3,440 232.6 10 Jan 30, 2026 J-GAAP
Revision Rate +14.0% +25.0% +24.9% +24.6% +24.6%

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 15,797 3,023 2,968 2,140 144.7 10 Jan 30, 2026 J-GAAP
YoY +43.4% +83.4% +84.1% +74.0% +85.8%

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 28,500 5,000 4,870 3,440 232.6 10 Jan 30, 2026 J-GAAP
YoY +41.6% +78.8% +79.6% +75.2% +87.0%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
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
Oct - Dec, 2025 7,023 1,394 1,361 931 61.5 19.8 Jan 30, 2026 J-GAAP
YoY +53.9% +169.6% +172.7% +181.3% +195.4%

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