Nihon Dengi Co., Ltd. (TSE: 1723), an instrumentation-and-control engineering group that designs and installs measurement, control and building-automation systems for air-conditioning and building facilities, reported consolidated results for the first quarter of the year ending March 31, 2027 under Japanese GAAP. Revenue rose 3.2% to ¥8,696 million, operating profit jumped 39.4% to ¥1,756 million, ordinary profit rose 41.2% to ¥1,911 million, and net profit attributable to owners of the parent climbed 39.3% to ¥1,298 million. Basic earnings per share were ¥20.37.
Margins widen on construction mix
The sharp profit growth outpaced the modest revenue gain as the operating margin expanded to about 20% from roughly 15% a year earlier, helped by a favourable project mix and firm demand for building-facility instrumentation and maintenance work. Comprehensive income was ¥1,824 million, up 18.5%.
Solid balance sheet
Total assets stood at ¥55,790 million and net assets at ¥47,088 million, for a high equity ratio of 84.4%. The seasonal decline in total assets from the prior year-end reflects the collection of construction receivables typical of the first quarter.
Full-year guidance kept
Management left full-year FY3/2027 guidance unchanged, still expecting revenue of ¥51,500 million (+11.1%), operating profit of ¥12,500 million (+5.7%), ordinary profit of ¥12,700 million (+4.7%) and net profit of ¥8,700 million (+3.0%), with EPS of ¥136.51. The first quarter therefore represents an early lead against those targets.
Stock split and higher dividend
The company carried out a four-for-one split of its common stock on April 1, 2026. On a post-split basis it plans an annual dividend of ¥56.00 for FY3/2027 (¥20.00 interim plus ¥36.00 year-end), up ¥16 from the split-adjusted ¥40.00 paid a year earlier.
| Metric | Q1 FY3/2027 | Q1 FY3/2026 | YoY |
|---|---|---|---|
| Revenue (¥ million) | 8,696 | 8,424 | +3.2% |
| Operating profit (¥ million) | 1,756 | 1,259 | +39.4% |
| Ordinary profit (¥ million) | 1,911 | 1,353 | +41.2% |
| Net profit attrib. to owners (¥ million) | 1,298 | 931 | +39.3% |
| Basic EPS (¥) | 20.37 | 14.62 | +39.3% |
| FY27 net profit guidance (¥ million) | 8,700 | 8,447 | +3.0% |
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