Nakanishi Inc. · TSE:7716
Nakanishi — FY2025 Earnings Presentation
35 slides from Nakanishi's earnings presentation, Feb 12, 2026
Slide 1: Presentation Material for the year ended Dec. 31, 2025
Presentation Material for ｔｈe year ended Dec. 31, 2025 Feb. 12, 2026 NAKANISHI INC. Disclaimer The information presented in these materials contains forward-looking statements about future business performance. These statements by definition involve risks and uncertainties and are not intended to gu
Slide 2: Product Lineup
Product Lineup Dental Business Development, production and sales of wide range of dental equipment, which cover such as restorative dentistry, periodontics, oral surgery, mobile dental care, etc. Handpiece Implant motor Oral hygiene system Clinical micro motor DCI Business Presenting results of DCI,
Slide 3: Consolidated Financial Result for FY2025
Consolidated Financial Result for FY2025 Corporate Vice President & Group CFO Daisuke Suzuki © 2026 NAKANISHI INC. 3
Slide 4: Performance Highlights
Performance Highlights N et sales were in line with the plan. The Surgical business grew significantly by 28% YoY. The Dental, DCI, and Industrial businesses also performed steadily. As a result, consolidated net sales landed at +5% YoY. P ersonnel expenses and selling expenses were increased to dri
Slide 5: Consolidated P/L
Consolidated P/L M of JPY FY2025 FY2024 FY2025 Forecast Actual Actual Ratio Ratio As of May 12 Net sales 81,179 77,041 +5.4% 80,655 +0.6% Gross profit 46,060 44,418 +3.7% 44,784 +2.8% Ratio to net sales 56.7% 57.7% — 55.5% — EBITDA ＊ 19,899 20,460 -2.7% 18,932 +5.1% Margin 24.5% 26.6% — 23.5% — Oper
Slide 6: Change in Net Sales by Business Segment
Change in Net Sales by Business Segment M of JPY +4,137 +5.4% Change FY2024 FY2025 of which: +168 81,179 Actual Actual forex impact B/A-1 23,500 A B Industrial +1,215 +2.5% 22,500 Dental 46,527 48,197 +325 +3.6% Surgical 21,500 +1,083 +28.1% 20,500 DCI +1,670 +5.6% DCI 19,454 20,538 -129 +5.6% 19,50
Slide 7: Change in Net Sales by Region
Change in Net Sales by Region M of JPY +4,137 +5.4% FY2024 FY2025 Change of which: 81,179 Actual Actual forex impact B/A-1 23,500 A B +1,225 +163 9,324 9,385 22,500 Japan - +0.6% Asia Others +1,431 +15.2% 21,500 +1.9% 20,500 Europe 20,017 21,274 +633 +6.3% N. America +1,256 19,500 77,041 +60 +4.6% J
Slide 8: Change in EBITDA by Business Segment
Change in EBITDA by Business Segment M of JPY -560 -2.7% FY2024 FY2025 Change 5,500 Actual Actual B/A-1 20,460 -98 A B 19,337 19,238 5,000 Dental Dental -0.5% -0.5% -578 -253 -87 19,899 +457 Industrial Corporate DCI 2,444 1,866 -23.7% 4,500 DCI Surgical -17.7% expenses -23.7% +19.2% 4,000 Surgical 2
Slide 9: Change in EBITDA
Change in EBITDA M of JPY Average exchange rate FY2024 FY2025 USD 151.44 JPY → 150.43 JPY -560 EUR 163.80 JPY → 169.18 JPY 7,500 -2.7% -660 Cost rate 6,500 +2,226 factors -788 5,500 20,460 -60 20,399 Increase in selling -684 Forex Increase expenses Increase in -593 19,899 in demand personnel impact
Slide 10: Other Income, Expense, Taxes
Other Income, Expense, Taxes M of JPY EBITDA 19,899 Depreciation 4,343 Amortization 1,465 ・Interest income 979 Non-operating profit Operating profit 14,089 ・ Foreign exchange gains 1,517 Non-operating profit 3,084 Non-operating expenses 240 Non-operating expenses ・Interest expenses 199 Ordinary prof
Slide 11: Impairment of Goodwill Related to DCI
Impairment of Goodwill Related to DCI Status of the DCI business Progress Positive Changes in the Business Environment Negative PMI activities after the acquisition have progressed Due to the U.S. government’s tariff policy, import costs smoothly. As part of the results, the “DCI x NSK product incre
Slide 12: Consolidated Balance Sheet
Consolidated Balance Sheet M of JPY As of Dec. 31, As of Dec. 31, Change Notes 2025 2024 Total assets 160,155 158,299 +1,855 ・Buildings and structures ・Construction in progress +2,348 +545 - Cash and deposits 61,317 46,051 +15,266 ・Merchandise and finished goods +678 - Inventories 25,565 25,024 +540
Slide 13: Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows M of JPY Cash flows Cash flows Cash flows Effect of exchange rate 35,000 from from from operating investing financing change activities activities activities 30,000 25,000 -8,682 +2,093 45,964 +679 +16,649 20,000 15,000 35,224 Payments into time Proceeds from lo
Slide 14: Consolidated Financial Forecast for FY2026
Consolidated Financial Forecast for FY2026 © 2026 NAKANISHI INC. 14
Slide 15: Assumptions for Consolidated Financial Forecast for FY2026
Assumptions for Consolidated Financial Forecast for FY2026 Expecting sales increase in all business segments and Net Sales 88.1 B of JPY (＋8.6%) to achieve record-high sales for the sixth consecutive year. SGA expenses Expecting increases in selling, personnel, and R&D expenses as growth investments
Slide 16: Consolidated Financial Forecast for FY2026
Consolidated Financial Forecast for FY2026 M of JPY FY2026 FY2025 Change Note Forecast Actual Amount Ratio Net sales 88,180 81,179 +7,001 +8.6% Gross profit 48,768 46,060 +2,707 +5.9% Ratio to net sales 55.3% 56.7% -1.4 pt — E B I T D A＊ 20,640 19,899 +740 +3.7% Margin 23.4% 24.5% -1.1 pt — Operatin
Slide 17: FY2026 Forecast: Change in Net Sales by Business Segment
Consolidated Financial Forecast for FY2026 Change in Net Sales by Business Segment M of JPY + 7,001 + 8.6% FY2025 FY2026 Change Actual Forecast 23,500 88,180 +394 22,500 +630 Industrial Dental 48,197 52,441 +8.8% Surgical +5.7% +1,732 21,500 +11.4% DCI 20,538 22,270 +8.4% 20,500 DCI 19,500 +8.4% Sur
Slide 18: FY2026 Forecast: Change in EBITDA
Consolidated Financial Forecast for FY2026 Change in EBITDA M of JPY Average exchange rate FY2025 Actual FY2026 Forecast USD JPY 150.43 → JPY 150.00 +740 EUR JPY 169.18 → JPY 170.00 +3.7% 12,000 11,000 10,000 -1,290 9,000 Cost rate -697 8,000 +4,088 factors Increase in -933 selling -417 20,640 19,89
Slide 19: Shareholder Return
Shareholder Return © 2026 NAKANISHI INC. 19
Slide 20: Revision of Shareholder Return Standard
Revision of Shareholder Return Standard Net profit, which is the basis for dividends, is adjusted as follows. [ Temporary profit decrease factor ] [ Continuous profit decrease factor ] Amount decreased in net Amortization of goodwill profit due to impairment loss increased by gain on step acquisitio
Slide 21: Shareholder Return in FY2025
Shareholder Return in FY2025 M of JPY ❚ Adjustment of shareholder return standard ❚ Shareholder return in FY2025 [Adjustment 2] Standard value Repurchase of own shares Reversal of of shareholder Feb.-Dec. Number of shares Amount of repurchase costs impairment return 2025 1,416,300 2,926 M of JPY los
Slide 22: Shareholder Return Policy and Transition
Shareholder Return Policy and Transition ❚ Shareholder return policy We position the return of profits to our shareholders as one of the important management issues; therefore, we plan to enhance business foundation and promote investment in growth areas properly and proactively, as well as to retur
Slide 23: FY2025 Overviews of Each Segment and FY2026 Future Initiatives
FY2025 Overviews of Each Segment and FY2026 Future Initiatives President & Group CEO Eiichi Nakanishi © 2026 NAKANISHI INC. 23
Slide 24: Global Trend of Net Sales
Global Trend of Net Sales Sales in Japan, North America, and Asia, which were slow in the first half, turned to growth from the second half. Sales increased in all markets. B of JPY YoY YoY North YoY 21.2 +6.3 % 9.3 +0.6 % 32.5 Dental Surgical Industrial Europe Dental Surgical Industrial DCI Japan D
Slide 25: Global Network Expansion
Global Network Expansion Establishing and Reinforcing Overseas Bases for Further Business Growth Europe Asia NSK Europe Germany 2003 Dental・Surgical NSK Shanghai China (Shanghai) 2005 Dental・Surgical Reinforce Eastern Europe 2026 Dental Relocate NSK Asia Thailand 2009 Dental NSK France France 2005 D
Slide 26: Enhanced Competitiveness through New Products
Enhanced Competitiveness through New Products New products were launched across all business domains. With a strengthened product lineup, compete in global markets. Dental Business Dental Business Dental Business Dental Business Handpiece Handpiece Preventive dentistry product Mobile dental care dev
Slide 27: Rollout of Minimally Invasive Therapy Initiative M.I.T.
Rollout of Minimally Invasive Therapy Initiative M.I.T. Minimally Invasive Therapy NSK – Dental – Global site M.I.T. dedicated webpage Minimally Invasive Therapy: A treatment approach that minimizes patient pain and https://www.nsk-dental.com/minimally-invasive-therapy/ burden while preserving natur
Slide 28: Forecast of Market Trends and Basic Strategy
Forecast of Market Trends and Basic Strategy Forecast of market trends in 2026 Dental Business : Demand recovery is expected to continue, but price competition will intensify in emerging countries. DCI Business : Demand is expected to remain resilient, but market competition will intensify. Surgical
Slide 29: Dental Business Outline 1/3
Dental Business Outline 1/3 Overview of Actual Sales Measures for Sales forecast FY2025 (YoY) (Local currency) FY2026 (YoY) (Local currency) Sales were sluggish through Q3 due to As the first year of the distribution Japan the impact of the distribution network network reform, focus on expanding ref
Slide 30: Dental Business Outline 2/3
Dental Business Outline 2/3 Overview of Actual Sales Measures for Sales forecast FY2025 (YoY) (Local currency) FY2026 (YoY) (Local currency) Inventory adjustment progressed, and sales increased significantly in Q4. NSK- Focus on expanding sales of main North brand sales were in line with the previou
Slide 31: Dental Business Outline 3/3
Dental Business Outline 3/3 Overview of Actual Sales Measures for Sales forecast FY2025 (YoY) (Local currency) FY2026 (YoY) (Local currency) As demand recovery slowed due to the Although uncertainty is expected to Middle escalation of conflict, sales were continue, stimulate demand by supported by f
Slide 32: DCI Business Outline
DCI Business Outline Continue focusing on high-synergy bundled sales of NSK x DCI products Business topics 2025 market trends and business overview Expansion of transactions with dealers Market ・The total number of dental chairs sold in the market Training for sales representatives at trends increas
Slide 33: Surgical Business Outline
Surgical Business Outline Overview of Actual Sales Measures for Sales forecast FY2025 (YoY) (Local currency) FY2026 (YoY) (Local currency) New business partner acquisition and strong disposable sales to existing Strengthen sales capabilities and establish a sales structure for new Japan customers dr
Slide 34: Industrial Business Outline
Industrial Business Outline Overview of Actual Sales Measures for Sales forecast FY2025 (YoY) (Local currency) FY2026 (YoY) (Local currency) Demand recovery progressed in the Efforts to stimulate automation demand second half. Demand for automation and have progressed. Pursue steady project Japan re
Slide 35: NSK
NSK