Noritz revises full-year forecasts, predicts higher profit despite lower sales

Noritz Corporation has revised its full-year consolidated results forecast for the fiscal year ending December 31, 2025. The company now expects net sales of 202,000 million yen, a 3,000 million yen decrease from the previous forecast of 205,000 million yen. This decline is attributed to sluggish market conditions and lower overseas sales in China.

Despite reduced sales, Noritz anticipates stronger profitability. Operating income is projected to rise to 4,000 million yen, up 1,000 million yen (33.3%) from the prior 3,000 million yen forecast. Ordinary income is also revised upwards to 5,200 million yen from 3,900 million yen, an increase of 1,300 million yen (33.3%). Net income attributable to shareholders of the parent company is now expected to be 3,100 million yen, an increase of 700 million yen (29.2%) from the previous 2,400 million yen, resulting in a revised net income per share of 68.42 yen. These improvements are driven by enhanced productivity and effective control of selling, general, and administrative (SG&A) expenses.

The company's year-end dividend forecast for December 2025 remains unchanged at 36 yen per share.