NITTO BOSEKI, Net Income Forecast for the Fiscal Year Revised Upward by 2.9 times, Raises Record High Profit Forecast, The Undecided Dividend Raised by 8 Yen

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Thu Nov 6, 2025 3:30 pm JST Earnings

3110 NITTO BOSEKI CO.,LTD. 【J-GAAP】

Earnings Report

NITTO BOSEKI CO.,LTD. <3110> [TSE Prime] announced its financial results after the market closed on November 6th (15:30). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2026 (April to September) increased 27.1% from the same period last year, reaching 6.87 billion yen.

In addition, the full-year forecast for consolidated net income has been revised upward 2.9 times, from the previous forecast of 13.0 billion yen to 37.5 billion yen (compared to 12.8 billion yen in the previous period), increasing the growth rate from 1.3% to 2.9 times, further surpassing the previous forecast of record-high profits for two consecutive terms.

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 surge 4.1 times that of the same period last year, reaching 30.6 billion yen.

In light of the strong performance, the company has decided to implement a annual dividend of 114 yen for the current fiscal year, which was previously undecided (compared to 106 yen in the prior term).

In the most recent three-month period, from July to September (2Q), the consolidated net income increased 72.7% from the same period last year, reaching 3.73 billion yen. The operating profit margin jumped from 12.8% in the same period last year to 17.7%.

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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	42,734	3,118	4,187	3,516	96.6	42.9	Nov 2, 2023	J-GAAP
Apr - Sep, 2024	53,051	7,345	7,720	5,411	148.6	43.9	Nov 1, 2024	J-GAAP
Apr - Sep, 2025	57,412	9,454	9,159	6,878	188.9	49.5	Nov 6, 2025	J-GAAP
YoY	+8.2%	+28.7%	+18.6%	+27.1%	+27.1%

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	58,000	8,000	8,000	6,000	164.8	27.50	May 9, 2025	J-GAAP
Apr - Sep, 2025 Results	57,412	9,454	9,159	6,878	188.9	27.50	Nov 6, 2025	J-GAAP
Revision Rate	-1.0%	+18.2%	+14.5%	+14.6%	+14.6%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2026 Prev	120,000	17,000	17,000	13,000	357.1	－	May 9, 2025	J-GAAP
Mar, 2026 New	120,000	19,000	18,500	37,500	1,030.0	114	Nov 6, 2025	J-GAAP
Revision Rate	0.0%	+11.8%	+8.8%	+188.5%	+188.5%

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	55,984	9,100	9,848	7,426	204.0	78.50	May 9, 2025	J-GAAP
Oct - Mar, 2025 Guidance	62,588	9,546	9,341	30,622	841.1	86.50	Nov 6, 2025	J-GAAP
YoY	+11.8%	+4.9%	-5.1%	+312.4%	+312.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2024	93,253	8,387	9,752	7,296	200.4	55	May 9, 2024	J-GAAP
Mar, 2025	109,035	16,445	17,568	12,837	352.6	106	May 9, 2025	J-GAAP
Mar, 2026 Guidance	120,000	19,000	18,500	37,500	1,030.0	114	Nov 6, 2025	J-GAAP
YoY	+10.1%	+15.5%	+5.3%	+192.1%	+192.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2024	26,936	3,438	2,952	2,160	59.3	12.8	Nov 1, 2024	J-GAAP
Oct - Dec, 2024	28,469	4,466	5,476	4,010	110.1	15.7	Feb 6, 2025	J-GAAP
Jan - Mar, 2025	27,515	4,634	4,372	3,416	93.8	16.8	May 9, 2025	J-GAAP
Apr - Jun, 2025	28,231	4,298	4,344	3,147	86.5	15.2	Aug 1, 2025	J-GAAP
Jul - Sep, 2025	29,181	5,156	4,815	3,731	102.5	17.7	Nov 6, 2025	J-GAAP
YoY	+8.3%	+50.0%	+63.1%	+72.7%	+72.7%