Nippon Sanso (4091) Q4 2026 earnings summary

Executive summary

• Revenue and core operating income grew in FYE2026, driven by price management, productivity initiatives, and major acquisitions in Spain and Australia, despite soft shipment volumes in some regions.

• Profitability improved YoY and QoQ, with Q4 achieving record core operating income and EBITDA margins.

• The new Medium-Term Management Plan, "Next Innovation 2030," was announced, targeting sustainability and growth, with a focus on strengthening industrial gases and expanding electronics.

Financial highlights

• Q4 revenue rose 7.5% YoY to ¥361.8bn; core operating income up 15.2% to ¥56.8bn; net income up 43.7% to ¥31.9bn.

• Full-year revenue increased 3.9% to ¥1,359.6bn; core operating income up 7.4% to ¥203.0bn; net income up 25.4% to ¥127.8bn.

• Operating income margin improved to 14.6% for the year; EBITDA margin reached 24.3%.

• Basic EPS: ¥286.22; annual dividend per share: ¥62; payout ratio: 21.7%.

• Equity attributable to owners rose to ¥1,217.3bn; total assets grew to ¥2,767.7bn.

Outlook and guidance

• FYE2027 forecast: revenue ¥1,380.0bn (+1.5%), core operating income ¥208.0bn (+2.4%), net income ¥134.5bn (+5.2%).

• Core operating income margin expected to rise to 15.1%; EBITDA margin to 25.1%.

• New Medium-Term Plan targets revenue of ¥1,500.0–1,575.0bn and core operating income of ¥250.0–275.0bn by FYE2030.

• Dividend for FYE2027 projected at ¥66 per share, up from ¥62.