Noritz (5943) Q3 2026 earnings summary

Executive summary

• 9M 2026 net sales rose 3.4% YoY to ¥147.499bn and operating income rose 24.1% to ¥1.003bn, with domestic growth offsetting overseas declines.

• Net income attributable to shareholders reached ¥5.855bn, supported by a ¥6.687bn extraordinary gain on sales of investment securities.

Financial highlights

• Domestic sales rose 7.9% to ¥102.175bn; overseas sales fell 5.5% to ¥45.323bn.

• Domestic operating income improved to ¥622mn from a ¥213mn loss, while overseas operating income fell 62.7% to ¥381mn.

• Ordinary income declined 18.1% to ¥1.445bn; basic EPS was ¥128.15 versus ¥14.68 in 9M 2025.

• Comprehensive income was ¥3.643bn versus ¥962mn in 9M 2025.

Outlook and guidance

• FY2026 targets were revised to sales of ¥208bn, operating income of ¥2.8bn and ordinary income of ¥3.2bn; net income target remains ¥8.6bn, with basic EPS of ¥188.21.

• Domestic full-year targets remain sales of ¥146.5bn and operating income of ¥2.8bn; overseas targets were cut by ¥6bn in sales and ¥1.7bn in operating income.

• China targets were reduced to sales of ¥23.8bn and an operating loss of ¥2.75bn; North America and Australia operating income targets remain ¥850mn and ¥1.7bn.

• FY2026 annual dividend forecast remains ¥94/share, comprising ¥47 interim and ¥47 year-end.