Nishimatsu Construction revises fiscal 2026 outlook on project delays, asset sales

Nishimatsu Construction announced a revision to its consolidated and non-consolidated earnings forecasts for the fiscal year ending March 31, 2026. The consolidated full-year net sales forecast has been lowered by 20,000 million yen to 400,000 million yen. Despite this, consolidated operating profit, ordinary profit, and profit attributable to owners of parent remain unchanged, indicating improved profitability. The non-consolidated forecast also sees a net sales reduction of 3,000 million yen to 384,000 million yen, while all profit metrics are now projected higher than previously forecast, with operating profit increasing by 1,000 million yen to 24,000 million yen.

The revisions are primarily attributed to a delay in the timing of overseas ODA civil engineering project orders, impacting both consolidated and non-consolidated net sales. However, the company expects higher gross profit from its asset value-added business due to better-than-planned asset sales, which is bolstering overall profitability and offsetting the sales decline. The forecast for annual dividends remains at 220.00 yen per share, with an interim dividend of 100.00 yen already declared for the second quarter.

For the six months ended September 30, 2025, consolidated net sales increased by 2.0% year-on-year to 177,318 million yen, with operating profit rising 2.0% to 9,322 million yen. Non-consolidated net sales increased by 1.8% to 171,098 million yen. Total orders received for the period decreased by 50.4% year-on-year to 108,773 million yen (consolidated) and 52.6% to 102,384 million yen (non-consolidated), mainly due to a significant decrease in overseas civil engineering orders.