Nittetsu Mining (1515) Q3 2025 earnings summary

Executive summary

• Net sales for the nine months ended December 31, 2024, rose 17.0% year-over-year to 145.6 billion JPY, driven by price hikes in key products, while operating profit remained nearly flat at 8.8 billion JPY due to FX headwinds in Metallic Minerals offset by gains in Nonmetallic Minerals and Environmental Engineering.

• Ordinary profit increased 5.3% year-over-year to 10.3 billion JPY, and profit attributable to owners of parent surged 28.7% to 8.2 billion JPY, aided by insurance proceeds and gains on investment securities.

• Comprehensive income for the period was 11.7 billion JPY, up 13.3% year-over-year.

• The financial results forecast was revised upward, and a share buyback and higher dividend forecast were announced.

Financial highlights

• Net sales rose to 145.6 billion JPY from 124.5 billion JPY year-over-year.

• Operating profit was 8.8 billion JPY, nearly flat from 8.9 billion JPY a year earlier.

• Ordinary profit increased to 10.3 billion JPY from 9.8 billion JPY.

• Profit attributable to owners of parent grew to 8.2 billion JPY from 6.4 billion JPY.

• Earnings per share for the nine months ended December 31, 2024, was 498.71 JPY, up from 387.54 JPY in the prior year.

Outlook and guidance

• FY24 full-year net sales forecast revised up to 194.0 billion JPY, operating profit to 11.0 billion JPY, and EPS to 515.00 JPY.

• Dividend per share forecast raised to 216.0 JPY, with a new absolute lower limit of 170 JPY per share introduced.

• Sensitivity analysis: every 10¢/lb copper price increase adds 0.26 billion JPY to sales and 0.06 billion JPY to OP; every 5 JPY/USD depreciation adds 0.46 billion JPY to sales and 0.08 billion JPY to OP.

• Operating profit for the full year is projected at 11.0 billion JPY (down 1.6%), ordinary profit at 11.5 billion JPY (down 4.6%), and profit attributable to owners of parent at 8.5 billion JPY (up 28.7%).