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NTN Corporation (6472) investor relations material

NTN Corporation Q2 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2026 earnings summary5 Nov, 2025

Executive summary

  • Operating income increased year-over-year despite a decrease in sales, driven by cost reductions and improved selling prices that offset lower demand and tariff impacts.

  • Net sales for the six months ended September 30, 2025, were ¥402.3B, down 2.8% YoY, with operating income up 29.3% to ¥12.9B and ordinary income up 150.5% to ¥8.7B.

  • Profit attributable to owners of parent was ¥3.1B in H1 FY2025, reversing a loss of ¥2.1B in the prior year period.

  • Full-year forecasts were revised upward, with higher sales and operating income expected due to successful cost and price management.

  • Structural reforms and strategic initiatives under the "DRIVE NTN100" plan are progressing ahead of schedule.

Financial highlights

  • H1 FY2025 net sales were ¥402.3B, down ¥11.7B YoY (excluding forex: -1.1%), while operating income rose to ¥12.9B (+¥2.9B YoY).

  • Operating margin improved to 3.2% in H1 FY2025 from 2.4% in H1 FY2024.

  • Profit attributable to owners of parent was ¥3.1B in H1 FY2025, up ¥5.2B YoY.

  • Free cash flow in H1 FY2025 was ¥14.3B, up ¥11.5B YoY.

  • Gross profit increased to ¥71.3B from ¥69.9B YoY.

Outlook and guidance

  • Full-year net sales forecast is ¥805.0B (up 2.5% YoY), with operating income projected at ¥26.0B (up 13.2%) and ordinary income at ¥13.0B.

  • Profit attributable to owners of parent is forecast at a loss of ¥4.0B for the full year.

  • FY2025 annual dividend forecast is ¥11 per share (interim ¥5.5, year-end ¥5.5), unchanged from the previous year.

Why full-year loss despite H1 profit?
Impact of Europe business restructuring
Japan segment income decline drivers?
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Frequently asked questions

NTN Corporation is a Japanese company engaged in the production and distribution of bearings and precision machinery. The company manufactures a wide range of products, including ball bearings, roller bearings, and needle bearings, which are used in industries such as automotive, industrial machinery, and aerospace. NTN also provides automotive driveline products, including constant velocity joints and axle assemblies. Additionally, the company offers precision equipment and maintenance services to support industrial operations. The company is headquartered in Osaka, Japan, and its shares are listed on the Tokyo Stock Exchange.

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