Namura Shipbuilding (7014) Q3 2026 earnings summary

Executive summary

• Revenue for the nine months ended December 31, 2025, was ¥115,303 million, down 4.5% year-over-year; operating income was ¥19,480 million, down 18.2%; net income attributable to shareholders was ¥15,359 million, down 31.8%.

• Progress in the core new shipbuilding business, with a shift toward a product mix including large LNG dual-fuel bulk carriers; construction projects advanced ahead of plan.

• Group companies began investing in new equipment for zero-emission ships, leveraging government GX transition bonds, with planned GX-related investments totaling about ¥29 billion through FY2029.

Financial highlights

• Gross profit for the period was ¥25,131 million, down from ¥28,556 million year-over-year.

• Comprehensive income was ¥24,127 million, nearly flat year-over-year.

• Earnings per share for the period were ¥221.22, compared to ¥324.71 in the prior year.

• Dividend forecast for the full year is ¥40 per share, unchanged from previous guidance.

Outlook and guidance

• Full-year revenue forecast revised to ¥160,000 million, with operating and ordinary income both projected at ¥26,000 million (up 11.8% and 11.9% year-over-year, respectively).

• Net income forecast for the year is ¥18,000 million, up 31.4% year-over-year; EPS forecast is ¥259.25.