Nippo Ltd. (TSE & Nagoya: 9913), a Nagoya-based technical trading and manufacturing company dealing in electronics materials, resin and molded products, and components, reported consolidated full-year results for the fiscal year ended March 31, 2026 (FY3/2026) under Japanese GAAP. Net sales rose 3.4% year-on-year to a record ¥46,403 million, operating profit climbed 5.5% to ¥2,079 million, ordinary profit advanced 7.8% to ¥2,269 million, and net profit attributable to owners of the parent rose 3.2% to ¥1,441 million from ¥1,396 million. Basic EPS came in at ¥159.32 versus ¥155.15.
Record revenue with broad-based profit growth
The year delivered Nippo's highest-ever top line, with growth carried through every profit line — operating profit up 5.5%, ordinary profit up 7.8%, and net profit up 3.2%. The faster pace at the ordinary-profit level points to a supportive contribution from non-operating items relative to the prior year. The result extends the company's steady earnings trajectory across its electronics-materials trading and resin/molded-products manufacturing operations.
Special dividend doubles the annual payout to ¥154
To reward shareholders for the record performance, Nippo declared a special dividend of ¥76.00 on top of the ¥78.00 ordinary year-end dividend, taking the full-year payout to ¥154.00 — double the ¥76.00 paid a year earlier. That lifts the consolidated payout ratio to 96.7%, an unusually generous distribution that returns almost all of the year's earnings to shareholders.
Solid balance sheet
The balance sheet remained firm. Total assets stood at ¥36,518 million and net assets at ¥17,992 million, for an equity ratio of 49.3% and book value per share of ¥1,984.20. On cash flow, operating activities generated ¥308 million, investing activities used ¥1,091 million, and financing activities provided ¥1,127 million, leaving cash and equivalents of ¥6,718 million at year-end.
FY27 guidance is cautious; payout normalizes to ¥79
For FY3/2027, management guides for modest sales growth but slightly lower profits. Net sales are seen rising 1.9% to ¥47,300 million, while operating profit is expected to dip 1.4% to ¥2,050 million, ordinary profit to fall 11.9% to ¥2,000 million, and net profit to ease 2.2% to ¥1,410 million, with EPS of ¥155.51. With the special dividend not repeated, the annual payout is guided back to ¥79.00, for a more normal payout ratio of 50.8%.
| Metric | FY3/2026 | FY3/2025 | YoY |
|---|---|---|---|
| Net sales (¥M) | 46,403 | 44,890 | +3.4% |
| Operating profit (¥M) | 2,079 | 1,970 | +5.5% |
| Ordinary profit (¥M) | 2,269 | 2,105 | +7.8% |
| Net profit attrib. to owners (¥M) | 1,441 | 1,396 | +3.2% |
| Basic EPS (¥) | 159.32 | 155.15 | +2.7% |
| Equity ratio | 49.3% | — | — |
| Annual dividend (¥, incl. ¥76 special) | 154.00 | 76.00 | +102.6% |
| FY27 net-profit guidance (¥M) | 1,410 | 1,441 | -2.2% |
JapanStockPulse provides informational content only and does not constitute investment advice. Figures are taken from the company's published earnings short report and may be subject to subsequent revision.