NOF (4403) Q4 2026 earnings summary

Executive summary

• Net sales rose 8.2% year-over-year to ¥257,967 million, with operating profit up 4.6% and profit attributable to owners of parent up 11.1%.

• Growth was driven by business expansion in prioritized fields and cost reduction efforts, despite global economic uncertainties and high raw material prices.

• The company advanced its solutions-based business model and launched open innovation initiatives in electronics.

Financial highlights

• Net sales: ¥257,967 million (+8.2% YoY); Operating profit: ¥47,411 million (+4.6% YoY); Ordinary profit: ¥50,366 million (+8.1% YoY); Profit attributable to owners of parent: ¥40,550 million (+11.1% YoY).

• Basic earnings per share: ¥176.34 (vs. ¥153.88 prior year).

• Total assets: ¥399,168 million; Net assets: ¥296,465 million; Equity-to-asset ratio: 74.0%.

• Cash and cash equivalents at period end: ¥82,973 million.

• Annual dividend: ¥61 per share; payout ratio: 34.6%.

Outlook and guidance

• FY2027 forecast: Net sales ¥319,000 million (+23.7% YoY), operating profit ¥50,000 million (+5.5%), ordinary profit ¥51,000 million (+1.3%), profit attributable to owners of parent ¥39,000 million (−3.8%), EPS ¥169.60.

• Segment outlook: Functional Chemicals and Pharmaceuticals expect higher revenue but lower profit; Explosives & Propulsion expects significant growth in both revenue and profit.

• Annual dividend forecast for FY2027: ¥70 per share.