Nippon Seisen (5659) Q2 2026 earnings summary

Executive summary

• Consolidated net sales for the six months ended September 30, 2025, were ¥22,478 million, down 3.8% year-over-year, with notable declines in Japan and overseas markets, especially in Stainless Steel Super Fine Wire for photovoltaic applications.

• Operating profit declined 48.5% year-over-year to ¥1,194 million, driven by lower sales and increased fixed costs.

• Profit attributable to owners of parent fell 43.9% year-over-year to ¥902 million.

• Comprehensive income decreased by 50.4% year-over-year to ¥1,044 million.

Financial highlights

• Net sales for 1H FY2025 were ¥22,478 million, down ¥893 million year-over-year.

• Gross profit for the period was ¥3,000 million, down from ¥4,127 million year-over-year.

• Basic earnings per share for the period was ¥29.41, compared to ¥52.49 in the prior year.

• Total assets as of September 30, 2025, were ¥55,603 million, slightly down from ¥55,884 million as of March 31, 2025.

• Equity-to-asset ratio improved to 74.5% from 73.7% at the previous fiscal year-end.

Outlook and guidance

• Full-year net sales forecast for the fiscal year ending March 31, 2026, is ¥43,500 million, a 7.0% decrease year-over-year.

• Operating profit is projected at ¥3,200 million, down 30.1% year-over-year.

• Profit attributable to owners of parent is forecast at ¥2,300 million, a 29.2% decrease year-over-year.

• Dividend payout ratio is guided at around 50% in line with mid-term management policy.

• Annual dividend per share is forecast at ¥42.00.