Nippon Ski Resort Development Co (6040) Q3 2026 earnings summary

Executive summary

• Revenue for the nine months ended April 2026 increased 8.9% year-over-year to ¥9,977 million, driven by strong inbound demand and higher unit prices.

• Operating income declined 4.5% year-over-year to ¥2,719 million, while net income attributable to shareholders rose 16.6% to ¥2,229 million, reflecting a special gain from land sales.

• Inbound visitors reached a record 543,000, up 23.3% from the previous season, offsetting a slight decline in domestic winter visitors.

• The company continued to diversify its business across both winter and green seasons, investing in facility upgrades and new attractions.

Financial highlights

• Gross profit rose to ¥5,180 million from ¥4,640 million year-over-year.

• Operating margin decreased due to higher depreciation and facility investments.

• Net assets increased to ¥10,914 million, up ¥2,212 million from the previous year-end, mainly due to retained earnings.

• Total assets grew to ¥18,493 million, up ¥5,088 million, reflecting increased cash and capital expenditures.

• EPS for the period was ¥48.45, up from ¥41.81 year-over-year.

Outlook and guidance

• Full-year revenue is forecast at ¥11,480 million, up 9.7% year-over-year.

• Net income is projected at ¥2,470 million, a 55.7% increase, due to special gains from land sales.

• No changes to previously announced guidance.

• Ongoing investments in snowmaking and facility upgrades are expected to support future growth.