Nippon Sheet Glass Company (5202) Q3 2026 earnings summary

Executive summary

• Revenue and operating profit increased year-over-year, driven by improved pricing in the European Architectural segment and better sales prices in Europe and North America for both Architectural and Automotive businesses.

• Loss attributable to owners of the parent narrowed to ¥5,134 million from ¥10,079 million, and total comprehensive income turned positive at ¥5,919 million from a loss of ¥15,502 million.

• Cost increases, especially labor, were offset by cost reduction initiatives, including float line cessations in Europe.

• Shareholders' equity ratio improved to 11.6%, and free cash flow showed year-over-year improvement, though remained negative due to seasonal working capital movements.

• Interest-bearing debt increased, mainly from seasonal working capital needs and foreign exchange effects.

Financial highlights

• Q3 cumulative revenue rose to ¥640,565 million from ¥630,000 million year-over-year; operating profit increased to ¥18,511 million from ¥10,800 million.

• Gross profit increased to ¥140,894 million from ¥124,728 million year-over-year.

• EBITDA for the nine months reached ¥58,200 million, up from ¥48,100 million.

• Net loss reduced to ¥5,134 million from ¥10,079 million year-over-year.

• Free cash outflow improved to negative ¥12,600 million from negative ¥17,800 million year-over-year.

Outlook and guidance

• Full-year forecast remains unchanged: revenue ¥850,000 million, operating profit ¥31,000 million, net profit ¥2,000 million, and basic EPS of ¥0.55.

• No changes to the forecast this quarter; targets aligned with the 2030 Vision medium-term plan.

• Gradual market recovery expected in Europe, but slower than anticipated; uncertainty persists due to US tariff policy.

• Ongoing cost reduction and profitability improvement measures across all segments.