NSW (9739) Q2 2026 earnings summary

Executive summary

• Net sales for the six months ended September 30, 2025, increased 2.7% year-over-year to ¥24,854 million, while operating profit declined 14.4% to ¥2,360 million and profit attributable to owners of parent fell 12.6% to ¥1,666 million.

• Comprehensive income decreased 12.5% year-over-year to ¥1,658 million.

Financial highlights

• Gross profit rose to ¥5,039 million from ¥4,863 million year-over-year, but selling, general and administrative expenses increased significantly, impacting operating profit.

• Basic earnings per share for the period was ¥111.83, down from ¥127.88 in the prior year.

• Total assets as of September 30, 2025, were ¥47,318 million, with net assets at ¥36,402 million and an equity-to-asset ratio of 76.9%.

• Cash and deposits at period end were ¥18,464 million, down from ¥19,666 million at the previous fiscal year-end.

• Net cash provided by operating activities was ¥820 million, while investing activities used ¥1,337 million and financing activities used ¥674 million.

Outlook and guidance

• Full-year forecast for fiscal year ending March 31, 2026: net sales of ¥51,000 million (up 1.9% year-over-year), operating profit of ¥5,100 million (down 16.6%), and profit attributable to owners of parent of ¥3,540 million (down 16.7%).

• Basic earnings per share for the full year is projected at ¥237.59.