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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.
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Q3 2026 earnings summary4 Feb, 2026

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.

Detail NS&C acquisition's one-off financial impact
Steering segment operating income, excluding one-offs
Breakdown of key investing cash flow drivers
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