Nippon Densetsu Kogyo (1950) Q4 2025 earnings summary

Executive summary

• Net sales reached ¥216,922 million for FY2024, with operating profit at ¥17,934 million and profit attributable to owners of parent at ¥13,192 million, all record highs driven by robust investment and railway revenue recovery.

• Orders and backlog also hit record highs, reflecting strong demand and successful order acquisition.

• Dividend payout ratio introduced, with dividends increased to ¥90 per share, including commemorative and special dividends.

• Comprehensive income was ¥14,042 million, down 14.7% from the previous year.

Financial highlights

• FY2024 net sales: ¥216,922 million, up 11.8% year-over-year; operating profit: ¥17,934 million, up 33.4%; profit attributable to owners of parent: ¥13,192 million, up 31.4%.

• Orders reached ¥223,718 million, up 13.5% year-over-year; backlog at period end: ¥183,075 million, up 8.4%.

• Ordinary profit rose 30.2% year-over-year to ¥19,400 million.

• Gross profit margin improved to 15.8% from 14.7% in FY2023.

• Basic earnings per share increased to ¥223.84 from ¥164.39 year-over-year.

Outlook and guidance

• FY2025 net sales forecasted at ¥230,480 million (+6.2% year-over-year); profit attributable to owners of parent expected at ¥13,380 million (+1.4%).

• Operating profit forecasted at ¥17,660 million, slightly down due to absence of one-off profit growth factor from FY2024.

• Basic earnings per share forecasted at ¥228.05 for the next fiscal year.

• Backlog at start of FY2025 at record high, supporting strong sales outlook.

• Strategic reduction of cross-held shares and expansion in scale planned.