NOF (4403) Q3 2026 earnings summary

Executive summary

• Net sales for the nine months ended December 31, 2025, rose 1.3% year-over-year to ¥173,472 million, but operating profit fell 11.0% to ¥31,826 million and profit attributable to owners of parent declined 7.5% to ¥25,565 million.

• The business environment was impacted by global economic uncertainty, high raw material and fuel prices, and geopolitical risks, though domestic personal consumption in Japan showed gradual recovery.

• Management focused on expanding business, developing new products, improving productivity, and cost reduction under the 2025 Mid-Term Management Plan.

Financial highlights

• Gross profit decreased to ¥62,208 million from ¥64,690 million year-over-year.

• Comprehensive income increased 16.4% year-over-year to ¥30,567 million.

• Basic earnings per share for the period was ¥110.81, down from ¥116.14 year-over-year.

• Equity-to-asset ratio was 75.3% as of December 31, 2025.

Outlook and guidance

• Full-year net sales forecast revised to ¥260,500 million (up 9.3% year-over-year), with operating profit of ¥46,000 million (up 1.5%) and profit attributable to owners of parent of ¥39,400 million (up 8.0%).

• Year-end dividend forecast raised to ¥35.00 per share, total annual dividend projected at ¥61.00 per share.