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Nippon Gas (8174) investor relations material
Nippon Gas Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
1H operating income exceeded plan by ¥0.3B, reaching a record high, driven by electricity gross profit and lower customer acquisition costs; full-year operating income forecast remains at ¥20.0B.
Net sales for the six months ended September 30, 2025, rose 2.5% year-over-year to ¥88,195 million, with significant profit growth across all stages due to higher electricity sales and reduced SG&A expenses.
Operating income surged 116.6% to ¥4,997 million, and profit attributable to owners of parent more than doubled to ¥3,439 million, driven by cost controls and improved business mix.
Net income forecast for the year is ¥14.0B, with EPS at ¥129.6.
Announced an additional ¥9.0B share buyback, bringing total return ratio to 145% for the year.
Financial highlights
1H gross profit rose by ¥1.2B YoY, mainly from electricity; LP and city gas gross profit were flat YoY.
Gross profit increased 4.0% year-over-year to ¥32,048 million, with notable gains in electricity and equipment segments.
SG&A expenses decreased by ¥1.5B YoY due to lower acquisition costs.
Operating income for 1H was ¥50 (¥100M), up ¥2.7B YoY.
Basic earnings per share rose to ¥31.54 from ¥14.49 in the prior year period.
Outlook and guidance
Full-year operating income target of ¥20.0B and ROE of 22% are maintained.
Full-year forecast for FY ending March 31, 2026, remains unchanged: operating income and ordinary income both projected at ¥20,000 million, and profit attributable to owners of parent at ¥14,000 million.
Basic earnings per share for the full year is forecast at ¥129.58.
Annual dividend forecast raised to ¥103.00 per share.
2H gross profit plan revised downward, with prudent estimates for LP sales volume and electricity margin.
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