Nabtesco (6268) Q4 2025 earnings summary

Executive summary

• FY2025 net sales rose 9.8% year-over-year to 307.9 billion yen, with operating profit up 60% to 20.7 billion yen and operating margin improving to 6.7%.

• Strategic restructuring included the split and sale of the hydraulic equipment business and withdrawal from unprofitable overseas operations, impacting segment reporting.

• Project 10 and portfolio optimization initiatives drove profitability improvements, with further growth targeted in CMP and TRS segments.

• Operating income increased despite one-time losses from subsidiary liquidation and goodwill impairment.

• Net income attributable to owners rose 55% year-over-year to 15.7 billion yen.

Financial highlights

• Orders received increased 10.8% year-over-year to 323.3 billion yen.

• Basic EPS increased 56% to 131.56 yen.

• ROIC improved to 4.4% and ROE to 5.8%.

• FY2026 forecast: sales up 6.2% to 327.0 billion yen, operating profit up 33.6% to 27.7 billion yen, OPM to 8.5%.

• Dividend per share planned to increase to 85 yen in 2025 and 90 yen in 2026.

Outlook and guidance

• FY2026 expects continued profit growth, with net income forecast to rise 12% to 17.6 billion yen and EPS to 150.19 yen.

• CMP/Component Solutions and TRS/Transport Solutions segments are expected to see double-digit growth in both sales and operating income.

• ACB/Accessibility Solutions and MFR/Others segments anticipate stable or improved sales and margins, supported by MRO and new product launches.