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NOF (4403) investor relations material
NOF Q2 2027 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
H1 FY2027 net sales rose 27.9% YoY to ¥139,608m; operating profit rose 13.1% to ¥23,352m and profit attributable to owners of parent rose 10.2% to ¥16,985m.
Growth was led by Explosives & Propulsion, supported by defense-related rapid-acquisition transactions; Pharmaceuticals, Medicals and Health recorded lower sales and profit.
The FY2027 earnings forecast and dividend outlook were revised; the forecast calls for ¥321,500m net sales and ¥41,000m attributable profit.
Financial highlights
H1 net sales ¥139,608m (+27.9% YoY), operating profit ¥23,352m (+13.1%), ordinary profit ¥24,199m (+11.9%) and profit attributable to owners of parent ¥16,985m (+10.2%).
Gross profit was ¥44,818m versus ¥40,957m YoY; income before income taxes was ¥24,845m versus ¥21,899m.
Comprehensive income increased to ¥21,661m from ¥19,226m, including ¥4,605m of other comprehensive income.
Total assets were ¥393,014m at Sep. 30, 2026, down ¥6,154m from Mar. 31; net assets rose ¥4,048m to ¥300,514m.
Outlook and guidance
FY2027 forecast: net sales ¥321,500m (+24.6% YoY), operating profit ¥50,500m (+6.5%), ordinary profit ¥51,800m (+2.8%), attributable profit ¥41,000m (+1.1%) and EPS ¥183.00; forecast revised Nov. 5.
FY2027 dividend forecast revised to ¥74/share, comprising ¥37 interim and ¥37 year-end; the FY2026 annual dividend was ¥61/share.
DDS raw-material shipments are expected mainly in H2; some clinical-development product shipments are expected to move to the next fiscal year.
Rapid-acquisition defense transactions are progressing largely as planned, with firm demand expected for other defense-related products.
- Record FY2023 operating income gives way to a lower FY2024 profit forecast.4403
Q4 2024 - Sales up 23.1% YoY, but profit down; major treasury share buyback and cancellation announced.4403
Q1 2027 - Explosives & Propulsion drove record profits, but profit is forecast to decline amid global risks.4403
Q4 2026 - Net sales up, profits down; strong explosives growth; dividend and share buyback increased.4403
Q3 2026 - Profits fell but full-year outlook and shareholder returns were raised on segment growth.4403
Q2 2026 - Net sales rose slightly, but profits declined amid global uncertainty and higher costs.4403
Q1 2026 - Sales and profits climbed in H1 FY2024, with guidance and shareholder returns both increased.4403
Q2 2025 - Strong Q1 profit growth driven by Functional Chemicals; full-year outlook maintained.4403
Q1 2025 - Record profits, higher dividends, and robust capital returns drive future growth.4403
Q4 2025
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