Nitto Boseki (3110) Q1 2026 earnings summary

Executive summary

• Q1 FY2025 net sales rose 8.1% year-over-year to ¥28.2 billion, driven by strong specialty glass and electronic materials demand, especially for AI server applications.

• Operating profit increased 10% year-over-year to ¥4.3 billion, while ordinary profit declined 8.9% to ¥4.3 billion due to higher non-operating expenses.

• Profit attributable to owners of parent decreased 3.2% year-over-year to ¥3.1 billion.

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

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

Financial highlights

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

• EBITDA grew 10.1% to ¥6.4 billion, with an EBITDA margin of 22.7%.

• 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.

• Operating margin for the quarter was approximately 15.2%.

Outlook and guidance

• Full-year FY2025 net sales forecast is ¥120 billion (up 10.1% year-over-year), with operating profit of ¥17 billion and net profit of ¥13 billion.

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

• Strong specialty glass demand expected to continue, especially for data centers, semiconductors, and network equipment.

• Risks include US tariff policy, financial market volatility, and currency fluctuations.

• No changes to previously announced earnings forecasts.