Nitto Denko reports Q1 decline, raises first-half forecast

Nitto Denko Corporation reported Q1 revenue of 246.2bn yen, down 1.3% year-on-year, with operating profit falling 15.9% to 42.6bn yen. Net profit declined 13.4% to 31.3bn yen, hit by 6.8bn yen negative impact from yen appreciation.

Despite the decline, the company raised its first-half forecast to 500bn yen revenue and 90bn yen operating profit, citing increased demand ahead of potential US tariff implementation.

Nitto Denko also announced plans to buy back up to 80bn yen of treasury shares by August 2025.