Nagaileben Co., Ltd. (TSE: 7447), the Tokyo-based market leader in medical and healthcare apparel — white coats, nursing wear and surgical scrubs — reported a softer nine months for its fiscal year ending August 2026 (September 1, 2025–May 31, 2026) under Japanese GAAP. Cumulative revenue edged down 0.7% to ¥13.27 billion and operating profit fell 3.5% to ¥2.81 billion, while ordinary profit slipped 1.2% to ¥2.96 billion and net profit attributable to owners declined 1.0% to ¥2.05 billion. Basic EPS was ¥67.86, up from ¥66.53 a year earlier.
Resilient margins and a debt-free balance sheet
Despite the modest top-line dip, profitability stayed exceptionally high, with an operating margin above 21%. The company's balance sheet remains among the strongest on the Tokyo market: total assets of ¥42.73 billion, net assets of ¥39.42 billion and an equity ratio of 92.3% (versus 92.5% a year earlier), reflecting a virtually debt-free capital structure. Comprehensive income rose 2.6% to ¥2.12 billion.
Dividend reset after a prior-year commemorative payout
For FY8/2026 Nagaileben plans an annual dividend of ¥70.00 per share, paid as a single year-end dividend. That compares with ¥100.00 a year earlier, but the prior-year figure included a ¥40.00 commemorative dividend on top of a ¥60.00 ordinary payout, so the underlying ordinary dividend is being lifted from ¥60 toward ¥70.
Full-year outlook keeps double-digit growth
Management left full-year FY8/2026 guidance unchanged, projecting revenue of ¥18.00 billion (+6.0%), operating profit of ¥4.03 billion (+12.3%), ordinary profit of ¥4.20 billion (+13.3%) and net profit of ¥2.90 billion (+12.7%), for EPS of ¥96.54. With nine-month operating profit at ¥2.81 billion, the target implies a strong fourth quarter (June–August), historically the company's busiest period for healthcare-uniform orders.
| Metric | 9M FY8/26 | 9M FY8/25 | YoY |
|---|---|---|---|
| Revenue (¥bn) | 13.27 | 13.37 | −0.7% |
| Operating profit (¥bn) | 2.81 | 2.92 | −3.5% |
| Ordinary profit (¥bn) | 2.96 | 3.00 | −1.2% |
| Net profit attrib. (¥bn) | 2.05 | 2.07 | −1.0% |
| EPS (¥) | 67.86 | 66.53 | +2.0% |
| Equity ratio | 92.3% | 92.5% | −0.2pp |
| FY8/26 OP guidance (¥bn) | 4.03 | 3.58 | +12.3% |
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.