NISSO HOLDINGS (9332) Q4 2025 earnings summary

Executive summary

• Consolidated net sales rose 4.9% year-over-year to ¥101,560 million, with operating income up 16.3% and ordinary profit up 16.6%, marking record profits since listing, though profit attributable to owners slightly decreased by 0.8% to ¥1,935 million.

• Growth was driven by increased billing unit-costs and a rise in enrolled engineers, especially in the semiconductor and electronics sectors, offset by higher SG&A and an extraordinary loss on investment securities.

• Earnings missed initial forecasts due to lower market demand and supply chain disruptions.

Financial highlights

• FY 3/2025 net sales: ¥101,560 million (+4.9% YoY); operating profit: ¥3,555 million (+16.3% YoY); ordinary profit: ¥3,563 million (+16.6% YoY); profit attributable to owners: ¥1,935 million (-0.8% YoY).

• Gross profit margin improved to 17.2% (+0.7pp YoY); operating profit margin rose to 3.5% (up 0.3pp YoY).

• Net assets increased to ¥16,795 million, equity ratio improved to 52.8%.

• Cash and cash equivalents at year-end were ¥8,186 million, down ¥1,454 million from the prior year.

• Extraordinary loss recorded due to impairment on APB Corporation investment.

Outlook and guidance

• FY 3/2026 forecasts: net sales ¥115,000 million (+13.2% YoY), operating profit ¥4,000 million (+12.5% YoY), ordinary profit ¥4,000 million (+12.2% YoY), profit attributable to owners ¥2,500 million (+29.1% YoY).

• Growth expected from continued strength in Automotive, Semiconductor, and Electronics industries, and expansion of Engineering Human Resources Services.

• Recent acquisitions (Man to Man Holdings, All Japan Guard) expected to contribute from Q2 FY 3/2026.

• Plans to expand group companies and increase hires, targeting 2,700 enrolled engineers.

• No major changes expected in automotive production despite U.S. tariff risks; semiconductor segment to remain strong.