Nippon Electric Glass (5214) Q4 2025 earnings summary

Executive summary

• FY2025 net sales rose 4.1% year-over-year to ¥311.4 billion, with operating profit surging to ¥34.1 billion and profit attributable to owners up 144.9% to ¥29.6 billion.

• Key drivers included sales price revisions in displays, strong electronics demand, improved productivity, and lower costs.

• Significant gains were realized from improved production efficiency, higher selling prices, and sales of non-core assets.

• Extraordinary income declined due to fewer asset sales and lower gains on investment securities.

Financial highlights

• Operating margin improved to 11.0% from 2.0% in the prior year.

• Earnings per share increased 169.9% year-over-year to ¥382.33.

• Dividends per share rose to ¥150, with a further increase to ¥160 per share planned.

• Free cash flow was ¥41.6 billion, with cash flows from operating activities stable at ¥52.0 billion.

• Equity ratio stood at 70.2%, and ROE improved to 6.1%.

Outlook and guidance

• FY2026 net sales forecast at ¥320.0 billion, with operating profit expected to be ¥33.0 billion and profit attributable to owners at ¥23.0 billion.

• Dividend forecast for FY2026 is ¥160 per share.

• Global economic uncertainty remains due to geopolitical and trade factors.