Nippon Air Conditioning, Ordinary Profit Forecast for the Fiscal Year Revised Upward by 14%, Raises Record High Profit Forecast, Dividend Revised Upward by 6 Yen

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Fri Jan 30, 2026 4:00 pm JST Earnings

4658 Nippon Air Conditioning Services Co., Ltd. 【J-GAAP】

Earnings Report

Nippon Air Conditioning Services Co., Ltd. <4658> [TSE Prime] 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) increased 13.4% from the same period last year, reaching 3.26 billion yen.

In addition, the full-year forecast for consolidated ordinary profit has been revised upward 13.6%, from the previous forecast of 4.40 billion yen to 5.00 billion yen (compared to 4.37 billion yen in the previous period), increasing the growth rate from 0.6% to 14.3%, further surpassing the previous forecast of record-high profits for three 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 30.9%, from the previous forecast of 1.94 billion yen to 2.54 billion yen (compared to 2.49 billion yen in the same period of the previous year), turning to a 2.2% increase in the consolidated ordinary profit outlook.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 46 yen to 52 yen (compared to 45 yen in the previous period).

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit decreased to 0.80 billion yen, an 18.8% decrease compared to the same period last year. The operating profit margin worsened from 5.0% in the same period last year to 3.5%.

Kabutan News

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	39,617	2,367	2,565	1,675	48.8	66.4	Jan 31, 2024	J-GAAP
Apr - Dec, 2024	44,187	2,658	2,877	1,843	53.5	65.8	Jan 31, 2025	J-GAAP
Apr - Dec, 2025	46,685	2,918	3,263	2,121	61.3	65.3	Jan 30, 2026	J-GAAP
YoY	+5.7%	+9.8%	+13.4%	+15.1%	+14.5%

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	36,596	1,890	1,944	1,571	45.4	23	Oct 31, 2025	J-GAAP
Oct - Mar, 2025 New	38,796	2,390	2,544	1,971	56.9	29	Jan 30, 2026	J-GAAP
Revision Rate	+6.0%	+26.5%	+30.9%	+25.5%	+25.4%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2026 Prev	66,000	4,200	4,400	3,150	90.9	46	May 13, 2025	J-GAAP
Mar, 2026 New	68,200	4,700	5,000	3,550	102.5	52	Jan 30, 2026	J-GAAP
Revision Rate	+3.3%	+11.9%	+13.6%	+12.7%	+12.7%

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	37,508	2,400	2,490	1,924	55.8	25	May 13, 2025	J-GAAP
Oct - Mar, 2025 Guidance	38,796	2,390	2,544	1,971	56.9	29	Jan 30, 2026	J-GAAP
YoY	+3.4%	-0.4%	+2.2%	+2.4%	+1.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2024	58,232	3,630	3,863	2,725	79.4	39	May 13, 2024	J-GAAP
Mar, 2025	64,438	4,191	4,373	3,102	90.0	45	May 13, 2025	J-GAAP
Mar, 2026 Guidance	68,200	4,700	5,000	3,550	102.5	52	Jan 30, 2026	J-GAAP
YoY	+5.8%	+12.1%	+14.3%	+14.4%	+13.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2024	17,257	867	994	665	19.3	5.0	Jan 31, 2025	J-GAAP
Jan - Mar, 2025	20,251	1,533	1,496	1,259	36.5	7.6	May 13, 2025	J-GAAP
Apr - Jun, 2025	13,893	837	952	529	15.3	6.0	Jul 31, 2025	J-GAAP
Jul - Sep, 2025	15,511	1,473	1,504	1,050	30.4	9.5	Oct 31, 2025	J-GAAP
Oct - Dec, 2025	17,281	608	807	542	15.7	3.5	Jan 30, 2026	J-GAAP
YoY	+0.1%	-29.9%	-18.8%	-18.5%	-18.9%