Nissan Chemical (4021) Q3 2026 earnings summary

Executive summary

• 3Q FY2025 sales rose by ¥8.7 billion (+15%) and operating profit by ¥2.6 billion (+21%) YoY, with net income up ¥1.0 billion (+9%).

• For the first nine months, sales increased by ¥20.6 billion (+12%), operating profit by ¥3.9 billion (+10%), and net income by ¥3.3 billion (+11%) compared to the same period last year.

• Net sales for the nine months ended December 31, 2025, rose 11.8% YoY to ¥195,435 million, with all major income metrics exceeding both the prior year and previous outlooks.

• Growth was driven by strong performance in technology-related sectors, especially semiconductors, and robust demand in agricultural chemicals, despite ongoing global economic uncertainties.

• All key financial metrics exceeded the outlook as of November 2025, with sales, operating profit, and net income above targets.

Financial highlights

• 3Q FY2025 sales: ¥65.3 billion (+15% YoY); 1-3Q sales: ¥195.4 billion (+12% YoY).

• 3Q operating profit: ¥15.4 billion (+21% YoY); 1-3Q operating profit: ¥45.0 billion (+10% YoY).

• Net income attributable to owners of parent grew 10.5% to ¥35,043 million; basic EPS was ¥259.10, up from ¥230.27.

• Comprehensive income surged 35.6% YoY to ¥41,371 million.

• Cash and cash equivalents at period-end increased to ¥34,040 million, up ¥6,585 million from March 31, 2025.

Outlook and guidance

• FY2025 full-year outlook remains unchanged from November 2025, with segment outlooks also unchanged.

• Full-year forecast for FY2025: net sales of ¥272,200 million (+8.3% YoY), operating income of ¥59,000 million (+3.8%), and net income attributable to owners of parent of ¥44,000 million (+1.7%).

• Medium-term plan targets for FY2027: sales ¥293.0 billion, operating profit ¥65.0 billion, ROE 18%+, and total payout ratio 75%+.

• Dividend payout ratio target set at 55% or more, with a total payout ratio of 75% or more after FY2025.