IR & Research Intelligence, Sessa Investment Research

Sessa Investment Research

IR & Research Intelligence

Sponsored research focusing on Japanese small cap.

Equity Bottom-Up

<ul><li>Nitto Kogyo Corporation (hereafter, the Company) is a leading manufacturer of distribution boards and panel boards for electrical and telecommunications infrastructure, as well as enclosures that house telecommunications and precision equipment.</li><li>The company has 42 sales offices and eight factories in Japan.</li><li>The Company is working to expand its business in ASEAN countries, with overseas production and sales bases in China, Thailand, and Singapore. </li></ul>

Nitto Kogyo Corporation (hereafter, the Company) is a leading manufacturer of distribution boards and panel boards for electrical and telecommunications infrastructure, as well as enclosures that house telecommunications and precision equipment.The company has 42 sales offices and eight factories in Japan.The Company is working to expand its business in ASEAN countries, with overseas production and sales bases in China, Thailand, and Singapore. 

Nitto Kogyo Corporation (6651 JP) - Full Report - May 2, 2025

<ul><li>Q3 2025/3 Earnings Result Summary: Nitto Kogyo Corporation (hereafter, the Company) announced net sales of JPY 133,354 mn (+14.1% YoY), operating profit of JPY 9,298 mn (+3.3% YoY), ordinary profit of JPY 9,503 mn (-0.0% YoY), and profit attributable to owners of parent (hereafter, net profit) of JPY 9,014 mn (+36.3% YoY).</li><li>The double-digit increase in net profit was attributed to the recording of extraordinary gains on the acquisition of shares in a subsidiary.</li><li>FY2025/3 Earnings Forecast: The forecast calls for net sales of JPY178,000 mn (+10.8% YoY), operating profit of JPY12,000 mn (+0.3% YoY), ordinary profit of JPY12,000 mn (-4.5% YoY), and net profit of JPY10,000 mn (+14.7% YoY).</li></ul>

Q3 2025/3 Earnings Result Summary: Nitto Kogyo Corporation (hereafter, the Company) announced net sales of JPY 133,354 mn (+14.1% YoY), operating profit of JPY 9,298 mn (+3.3% YoY), ordinary profit of JPY 9,503 mn (-0.0% YoY), and profit attributable to owners of parent (hereafter, net profit) of JPY 9,014 mn (+36.3% YoY).The double-digit increase in net profit was attributed to the recording of extraordinary gains on the acquisition of shares in a subsidiary.FY2025/3 Earnings Forecast: The forecast calls for net sales of JPY178,000 mn (+10.8% YoY), operating profit of JPY12,000 mn (+0.3% YoY), ordinary profit of JPY12,000 mn (-4.5% YoY), and net profit of JPY10,000 mn (+14.7% YoY).

Nitto Kogyo Corporation (6651 JP) - Q3 Follow-Up

<ul><li>H1 2025/3 Earnings Result Summary: Nitto Kogyo Corporation (hereafter, the Company) announced net sales of JPY 81,983 mn (+12.1% YoY), operating profit of JPY 4,063 mn (-14.8% YoY), ordinary profit of JPY 4,433 mn (-14.5% YoY), and profit attributable to owners of parent (hereafter, net profit) of JPY 5,212 mn (+46.2% YoY).</li><li>Net profit rose, due to the booking of an extraordinary gain from the acquisition of subsidiary shares. Sales and net profit were record-high in H1.</li><li>FY2025/3 Earnings Forecast: Following H1 earnings, the Company revised its full-year FY2025/3 earnings forecast.</li></ul>

H1 2025/3 Earnings Result Summary: Nitto Kogyo Corporation (hereafter, the Company) announced net sales of JPY 81,983 mn (+12.1% YoY), operating profit of JPY 4,063 mn (-14.8% YoY), ordinary profit of JPY 4,433 mn (-14.5% YoY), and profit attributable to owners of parent (hereafter, net profit) of JPY 5,212 mn (+46.2% YoY).Net profit rose, due to the booking of an extraordinary gain from the acquisition of subsidiary shares. Sales and net profit were record-high in H1.FY2025/3 Earnings Forecast: Following H1 earnings, the Company revised its full-year FY2025/3 earnings forecast.

Nitto Kogyo Corporation (6651 Jp) - Q2 Follow-Up - December 19, 2024

<ul><li>1Q 2025/3 Earnings Result Summary: NITTO KOGYO Corporation (hereafter, the Company) reported net sales of ¥38,742 mn (+12.6% YoY), operating profit of ¥1,601 mn (-9.6% YoY), ordinary profit of ¥1,996 mn (-2.6% YoY), and profit attributable to owners of parent (hereafter, net profit) of ¥3,704 mn (+167.8% YoY).</li><li>According to the Company, sales, operating profit, and ordinary profit were generally within expectations.</li><li>The Company acquired shares of Tempearl Industrial Co., Ltd. on April 30, 2024, making it a subsidiary, and recorded a gain on negative goodwill of ¥2,665 mn as extraordinary profit.</li></ul>

1Q 2025/3 Earnings Result Summary: NITTO KOGYO Corporation (hereafter, the Company) reported net sales of ¥38,742 mn (+12.6% YoY), operating profit of ¥1,601 mn (-9.6% YoY), ordinary profit of ¥1,996 mn (-2.6% YoY), and profit attributable to owners of parent (hereafter, net profit) of ¥3,704 mn (+167.8% YoY).According to the Company, sales, operating profit, and ordinary profit were generally within expectations.The Company acquired shares of Tempearl Industrial Co., Ltd. on April 30, 2024, making it a subsidiary, and recorded a gain on negative goodwill of ¥2,665 mn as extraordinary profit.

Nitto Kogyo Corporation (6651 Jp): 1Q Follow-Up - September 12, 2024

<ul><li>NITTO KOGYO Corporation (hereafter, the Company) announced its earnings results for FY2024/3 on May 15, 2024.</li><li>In addition to posting record net sales, the Company recorded profit growth for all three of its segments.</li><li>While the price of raw materials and parts rose, the Company’s gross profit margin improved 1.4 ppt YoY to 26.8%. </li></ul>

NITTO KOGYO Corporation (hereafter, the Company) announced its earnings results for FY2024/3 on May 15, 2024.In addition to posting record net sales, the Company recorded profit growth for all three of its segments.While the price of raw materials and parts rose, the Company’s gross profit margin improved 1.4 ppt YoY to 26.8%. 

Nitto Kogyo Corporation (6651 JP) - 4Q Follow-Up

Japan

NITTO KOGYO CORPORATION manufactures and sells a variety of power switchboards. The Company also manufactures metal/resin parts for power switchboards, and circuit breakers.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Nitto Kogyo (6651 JP)

Nitto Kogyo Corporation (6651 JP) - Full Report - May 2, 2025

Nitto Kogyo Corporation (hereafter, the Company) is a leading manufacturer of distribution boards and panel boards for electrical and...

Sessa Investment Research

Nitto Kogyo Corporation (6651 JP) - Q3 Follow-Up

Q3 sales of core manufacturing, construction, and service business up19.7% YoY, with full-year sales and net profit on track to reach record highs

Sessa Investment Research

Nitto Kogyo Corporation (6651 Jp) - Q2 Follow-Up - December 19, 2024

Net profit rose, due to the booking of an extraordinary gain from the acquisition of subsidiary shares. Sales and net profit were record-high in H1.

Sessa Investment Research

Nitto Kogyo Corporation (6651 Jp): 1Q Follow-Up - September 12, 2024

Net profit for 1H revised upward due to extraordinary profit recorded in 1Q, projecting record-high full-year sales and net profit

Sessa Investment Research

Nitto Kogyo Corporation (6651 JP) - 4Q Follow-Up

Aiming for net sales of ¥200.0 bn, operating profit of ¥15.0 bn, and ROE of 9% or more in 2026 Medium-term Management Plan through accelerated...

Sessa Investment Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)