Namura Shipbuilding (7014) Q3 2025 earnings summary

Executive summary

• Revenue for the nine months ended December 31, 2024, rose 24.5% year-over-year to ¥120,721 million, with operating income up 103.8% to ¥23,814 million and net income attributable to shareholders up 95.6% to ¥22,523 million, reflecting strong demand and successful cost reduction initiatives.

• Progress against full-year forecasts is high, with operating income and net income already exceeding annual targets by the third quarter.

• Favorable business environment and yen depreciation contributed to performance, though rising material and labor costs are pressuring margins.

Financial highlights

• Gross profit increased from ¥16,181 million to ¥28,556 million year-over-year.

• Comprehensive income for the period was ¥24,118 million, up 31.1% year-over-year.

• EPS for the period was ¥324.71, nearly double the previous year’s ¥166.09.

• Total assets increased to ¥199,209 million, up ¥24,418 million from the previous fiscal year-end.

• Equity ratio improved to 50.7% from 45.4% at the previous year-end.

Outlook and guidance

• Full-year revenue forecast remains at ¥155,000 million, with operating and ordinary income each at ¥24,000 million and net income at ¥22,000 million.

• No changes to previously announced earnings or dividend forecasts.