Nitto Boseki (3110) Q1 2026 earnings summary

Executive summary

• Achieved higher sales and profits year-over-year in Q1 FY2025, driven by strong Special Glass and Electronic Materials demand, especially for AI server applications.

• Operating profit increased 10% to ¥4,298 million, while ordinary profit declined 8.9% to ¥4,344 million due to higher non-operating expenses.

• Net profit attributable to owners of parent decreased 3.2% to ¥3,147 million.

• Comprehensive income dropped sharply to ¥825 million from ¥4,739 million a year earlier, mainly due to negative foreign currency translation adjustments.

• Outlook remains positive for FY2025, with robust demand for Special Glass expected to continue despite macroeconomic uncertainties.

Financial highlights

• Q1 FY2025 net sales rose to ¥28,231 million, up 8.1% year-over-year; operating profit increased 10% to ¥4,298 million.

• EBITDA grew 10.1% to ¥6,400 million; EBITDA margin improved to 22.7%.

• Gross profit increased to ¥10,739 million from ¥9,568 million year-over-year.

• Basic earnings per share for the quarter was ¥86.46.

• Total assets stood at ¥220,987 million, down ¥2,118 million from the previous fiscal year-end.

Outlook and guidance

• FY2025 full-year net sales forecast at ¥120,000 million, up 10.1% year-over-year; operating profit projected at ¥17,000 million.

• Net profit forecasted at ¥13,000 million, a slight increase from ¥12,800 million in FY2024.

• Annual dividend forecast is ¥106.00 per share, with interim dividend at ¥27.50 per share.

• Continued strong demand for Special Glass in data centers and semiconductors expected to drive growth.

• Uncertainty remains due to U.S. tariff policies and exchange rate volatility.