Noritsu Koki Co (7744) Q3 2025 earnings summary

Executive summary

• Revenue for the nine months ended September 30, 2025, increased by 10.0% year-over-year to ¥86,253 million, driven by strong performance in the audio equipment/peripherals segment, particularly AlphaTheta and JLab, while Teibow saw a decline in revenue.

• Operating profit and net profit for the first three quarters have already surpassed full-year forecasts, with operating profit up to ¥17,575 million and profit attributable to owners of parent rising to ¥13,326 million.

• Basic earnings per share for the period was ¥125.35, reflecting a 3-for-1 stock split effective July 1, 2025.

• Comprehensive income declined to ¥10,930 million from ¥14,452 million year-over-year, mainly due to negative exchange differences.

Financial highlights

• Revenue for FY25 1-3Q was ¥86,253 million, up 10.0% year-over-year.

• Operating EBITDA rose to ¥21,056 million (+4.7%), and net profit increased to ¥13,326 million (+3.2%).

• Gross profit rose to ¥43,855 million from ¥39,532 million year-over-year, with gross margin improvement.

• Operating profit margin was 24.4%, down 1.3pt year-over-year.

• Cash and cash equivalents at period end were ¥90,254 million, down from ¥92,856 million at the previous year-end.

Outlook and guidance

• Full-year revenue forecast raised to ¥116,200 million, up ¥5,500 million from previous guidance and 9.1% year-over-year.

• Operating EBITDA forecast increased to ¥24,800 million, and net profit to ¥14,000 million, with basic EPS forecast at ¥132.05.

• Segment forecasts revised: Teibow lowered, AlphaTheta and JLab raised due to forex and market trends.

• Profit attributable to owners of parent is expected to decrease by 13.2% to ¥14,000 million.

• Operating profit for the full year is projected at ¥19,900 million.