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NSK (6471) investor relations material
NSK Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Sales and operating income increased year-over-year for the third quarter and nine months ended December 31, 2025, driven by structural reforms and the consolidation of the Steering Business (NS&C) as a subsidiary.
Profitability initiatives and cost reduction measures contributed to improved margins, with operating income at 91% of the November 2026 plan.
The Steering Business contributed significantly to sales and operating income growth, with one-off impacts including a ¥7,272 million gain on bargain purchase and a ¥4,662 million loss on step acquisition.
Financial highlights
Q3 sales reached ¥658.5bn, up ¥61.5bn (+10.3%) year-over-year; operating income was ¥27.4bn, up ¥11.8bn (+75.2%); net income attributable to owners of the parent rose to ¥13.5bn, up ¥7.9bn (+138.8%).
Excluding one-time expenses, operating income was ¥29.6bn, up ¥7.6bn (+34.6%).
Gross profit increased to ¥138,312 million from ¥127,074 million year-over-year.
Basic earnings per share rose to ¥27.69 from ¥8.04 year-over-year.
Structural reform expenses of ¥4.0bn were recorded, mainly in Europe.
Outlook and guidance
Full-year FY2025 sales forecast revised upward to ¥900.0bn, operating income to ¥37.0bn, and net income to ¥20.0bn; basic earnings per share forecast at ¥40.89.
Dividend plan maintained at ¥34/share, with a stable dividend policy and DOE of 2.5% minimum.
Forex assumption for Q4: ¥150/USD, ¥180/EUR, ¥21/CNY.
Business environment outlook remains uncertain due to global supply chain risks for rare earth metals and semiconductors.
- Sales and profits rose, but next year is forecast to decline amid global and currency risks.6471
Q4 202524 Nov 2025 - Sales and profits surged on steering consolidation and segment growth, with outlook upgraded.6471
Q2 202617 Nov 2025 - Profits fell on yen strength, but automotive segment income rose and guidance is unchanged.6471
Q1 20261 Aug 2025 - Sales up, profit down on one-time costs; net income lifted by discontinued operations.6471
Q2 202513 Jun 2025 - Sales and profits grew, with strong segment gains and continued steering business divestiture.6471
Q1 202513 Jun 2025 - Sales up 1.5%, profits down on restructuring and discontinued ops; outlook steady.6471
Q3 20256 Jun 2025
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