NISSO HOLDINGS (9332) Q3 2026 earnings summary

Executive summary

• Net sales rose 8.1% year-over-year to ¥82,569 million, driven by M&A and increased staff enrollment, but operating profit fell 17.5% to ¥2,197 million due to weak automotive demand and higher costs.

• Profit attributable to owners dropped 21.0% year-over-year to ¥1,268 million.

• Growth in semiconductor and electronics sectors did not offset declines in automotive, which represents about 40% of total sales.

• Recruitment efficiency declined amid intensified job market competition.

• Gross profit increased 5.3% year-over-year, but gross margin slipped to 16.7%.

Financial highlights

• Gross profit increased 5.3% year-over-year to ¥13,794 million, but gross margin slipped to 16.7%.

• SG&A expenses rose 11.1% due to M&A, system investments, and global HR initiatives, but the SG&A expense ratio declined by 0.3 percentage points year-over-year.

• Comprehensive income for the period was ¥1,279 million, down 21.5% year-over-year.

• Total assets increased to ¥37,241 million, up ¥5,964 million from March 2025.

• Equity ratio at 47.0% as of December 2025, down from 52.8% at the previous fiscal year-end.

Outlook and guidance

• Full-year forecasts revised: net sales expected at ¥112,000 million, operating profit at ¥3,300 million, and profit attributable to owners at ¥1,900 million.

• Net income per share forecast at ¥56.34.

• Dividend forecast raised to ¥25.00 per share for the year-end.

• Human resources demand is recovering but not enough to meet initial plans, impacted by automotive sector weakness and semiconductor delays.