Nippon Densetsu Kogyo Co., Ltd. · TSE:1950

Nippon Densetsu Kogyo — Q2 FY2025 Earnings Presentation

36 slides from Nippon Densetsu Kogyo's earnings presentation, Nov 14, 2025

  1. Slide 1: Briefing on the Financial Results for Q2 of FY2025

    Briefing on the Financial Results for Q2 of FY2025 (the Six Months Ended September 30, 2025) November 14, 2025 Note:This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, th

  2. Slide 2: Table of Contents

    Table of Contents 1 Company Overview 2 Financial Results Overview Q2 of FY2025 (Consolidated) 3 Financial Results Forecast FY2025 (Consolidated) 4 NIPPON DENSETSU Three-year Management Plan 2024 (Topics) 5 Implementing Management That Is Conscious of Cost of Capital and Stock Price Copyright(C)2025

  3. Slide 3: Company Overview

    1 Company Overview Copyright(C)2025 NIPPON DENSETSU KOGYO CO.,LTD. All Rights Reserved 2

  4. Slide 4: Company Overview

    1 Company Overview Covers a wide range of construction, including Leading company in the field of construction of electrical facilities for buildings construction of electrified railway (Buildings), construction of information and Nationwide business operations equipment (Railways) communication sys

  5. Slide 5: Financial Results Overview Q2 of FY2025 (Consolidated)

    Financial Results Overview Q2 of FY2025 2 (Consolidated) Copyright(C)2025 NIPPON DENSETSU KOGYO CO.,LTD. All Rights Reserved 4

  6. Slide 6: Key Points in the Financial Results

    2 Financial Results Overview Q2 of FY2025 (Consolidated) Key Points in the Financial Results ⚫ Capital investment by railway companies showed an increasing trend. With continued private-sector demand, including from data centers, we maintained a high level of orders. ⚫ We posted increases in net sal

  7. Slide 7: Financial Results Overview Q2 of FY2025 (Consolidated)

    2 Financial Results Overview Q2 of FY2025 (Consolidated) (Unit: million yen) Orders Compared to Q2 of FY2024: +¥2.7 bn Net sales Compared to Q2 of FY2024: +¥2.7 bn 100,000 93,678 96,473 100,000 88,637 75,625 78,419 71,576 68,644 71,039 63,683 60,889 50,000 50,000 0 0 Q2 of FY2021 Q2 of FY2022 Q2 of

  8. Slide 8: Factors for Changes in Operating Profit

    2 Financial Results Overview Q2 of FY2025 (Consolidated) Factors for Changes in Operating Profit (Year on year) (Unit: million yen) Increase in profit on completed construction contracts SG&A Impact of expansion of the scope 2,721 of application of the percentage of completion method -392 +1,684 Imp

  9. Slide 9: Trends in Quarterly Financial Results

    2 Financial Results Overview Q2 of FY2025 (Consolidated) Trends in Quarterly Financial Results (Unit: million yen) 250,000 230,480 22,000 216,922 200,000 194,031 17,934 18,000 17,660 173,569 172,100 13,448 14,000 150,000 Ratio of Q2 125,013 117,511 sales to Q4 9,658 sales (%) 105,263 10,000 101,722

  10. Slide 10: Summary by Business Segment

    2 Financial Results Overview Q2 of FY2025 (Consolidated) Summary by Business Segment Construction of Electrified Railway Equipment Construction of Electrical Facilities for Buildings ⚫•受注高は各鉄道事業者の工事抑制の影響を受け Orders from JR East and other JR companies ⚫ We continued to take orders strategically, takin

  11. Slide 11: Summary by Business Segment

    2 Financial Results Overview Q2 of FY2025 (Consolidated) Summary by Business Segment Construction of Information and Construction for Environmental Energy Communication Systems ⚫ Orders decreased due to a reactionary decline ⚫ Orders and backlog carried over to the next half following receiving an o

  12. Slide 12: Financial Results for Construction of Electrified Railway Equipment Segment

    Financial Results for 2 Construction of Electrified Railway Equipment Segment (Unit: million yen) Orders Compared to Q2 of FY2024: +¥8.4 bn Net sales Compared to Q2 of FY2024: +¥4.6 bn 60,000 60,000 52,630 45,764 44,134 44,370 38,886 41,024 39,768 37,765 37,659 40,000 34,282 40,000 20,000 20,000 0 0

  13. Slide 13: Electrified Railway Equipment: Orders and Net Sales (Disaggregated)

    Financial Results for 2 Construction of Electrified Railway Equipment Segment Orders and Net Sales (Disaggregated) (Unit: billion yen) FY2022 FY2023 FY2024 FY2025 FY2022 FY2023 FY2024 FY2025 20.7 29.2 26.4 32.7 Public railway 1.4 1.0 0.4 1.7 JR Orders (forecast) Orders (forecast) 56.0 69.9 69.7 69.0

  14. Slide 14: Financial Results for Construction of Electrical Facilities for Buildings Segment

    Financial Results for 2 Construction of Electrical Facilities for Buildings Segment (Unit: million yen) Orders Compared to Q2 of FY2024: +¥1.7 bn Net sales Compared to Q2 of FY2024: -¥3.0 bn 40,000 40,000 28,351 28,939 27,195 22,906 22,532 23,391 20,310 20,000 20,000 16,495 14,764 13,486 0 0 Q2 of F

  15. Slide 15: Financial Results for Construction of Information and Communication Systems Segment

    Financial Results for Construction of 2 Information and Communication Systems Segment (Unit: million yen) Orders Compared to Q2 of FY2024: -¥5.1 bn Net sales Compared to Q2 of FY2024: +¥0.8 bn 20,000 20,000 16,879 11,679 11,699 10,155 10,685 8,880 8,791 9,323 10,000 10,000 8,425 8,499 0 0 Q2 of FY20

  16. Slide 16: Financial Results for Construction for Environmental Energy Segment

    Financial Results for 2 Construction for Environmental Energy Segment (Unit: million yen) Orders Compared to Q2 of FY2024: -¥2.2 bn Net sales Compared to Q2 of FY2024: +¥0.2 bn 4,000 4,000 3,462 2,190 1,991 2,000 2,000 1,735 1,240 914 0 0 Q2 of FY2023 Q2 of FY2024 Q2 of FY2025 Q2 of FY2023 Q2 of FY2

  17. Slide 17: Financial Results for Associated Business Segment

    Financial Results for * Associated Business includes real estate business, total building management, maintenance and inspection of electrical facilities, sale of materials, software 2 Associated Business Segment development, and design of electrical facilities. Figures for real estate leasing, mana

  18. Slide 18: Major Railway-Related Construction Projects

    2 Major Railway-Related Construction Projects FY2025 FY2026 FY2027 FY2028 FY2029 FY2030 Name of the construction Haneda Airport Access Lines (East Yamanote Route and New Access Lines) Works to relocate obstructions, New Electrical Scheduled to start operation in FY2031 (JR East) Facilities for Subst

  19. Slide 19: Major Orders Received (First Half of FY2025)

    2 Major Orders Received (First Half of FY2025) Name of the construction FY2025 FY2026 FY2027 Replacement of the Underground Transmission Lines Scheduled for JR East completion in FY2032 between Tamagawa and Shinagawa Tsurumi Station (Train) Interlocking Device Replacement and Scheduled for JR East c

  20. Slide 20: Financial Results Forecast FY2025 (Consolidated)

    3 Financial Results Forecast FY2025 (Consolidated) Copyright(C)2025 NIPPON DENSETSU KOGYO CO.,LTD. All Rights Reserved 19

  21. Slide 21: Key Points in the Financial Results Forecast

    3 Financial Results Forecast FY2025 (Consolidated) Key Points in the Financial Results Forecast ⚫ Net sales are expected to greatly exceed the record high set in FY2024 against a backdrop of record-high backlog at the beginning of the period and orders. ⚫ Profit attributable to owners of parent is a

  22. Slide 22: Financial Results Forecast FY2025 (Consolidated)

    3 Financial Results Forecast FY2025 (Consolidated) (Unit: million yen) Backlog Compared to FY2024: +¥9.3 bn Orders Compared to FY2024: +¥2.4 bn 250,000 250,000 223,718 226,170 208,036 200,000 173,719 183,075 200,000 182,693 156,811 144,574 150,000 150,000 100,000 100,000 88,637 93,678 96,473 50,000

  23. Slide 23: Forecast for Construction of Electrified Railway Equipment Segment

    Financial Results Forecast for 3 Construction of Electrified Railway Equipment Segment (Unit: million yen) Backlog Compared to FY2024: +¥2.9 bn Orders Compared to FY2024: -¥0.3 bn 150,000 150,000 115,832 120,114 119,730 97,936 100,000 85,714 100,000 79,117 82,760 75,638 50,000 50,000 52,630 45,764 4

  24. Slide 24: Forecast for Construction of Electrical Facilities for Buildings Segment

    Financial Results Forecast for 3 Construction of Electrical Facilities for Buildings Segment (Unit: million yen) Backlog Compared to FY2024: -¥1.2 bn Orders Compared to FY2024: +¥9.9 bn 80,000 80,000 69,818 68,534 68,730 63,467 57,797 59,247 58,808 47,061 40,000 40,000 28,351 27,195 28,939 22,532 0

  25. Slide 25: Forecast for Construction of Information and Communication Systems Segment

    Financial Results Forecast for Construction of Information 3 and Communication Systems Segment (Unit: million yen) Backlog Compared to FY2024: +¥5.7 bn Orders Compared to FY2024: -¥3.1 bn 40,000 40,000 33,885 30,710 25,180 26,697 22,396 20,000 18,115 17,263 16,666 20,000 16,879 10,685 11,679 11,699

  26. Slide 26: Forecast for Construction for Environmental Energy Segment

    Financial Results Forecast for 3 Construction for Environmental Energy Segment (Unit: million yen) Backlog Compared to FY2024: +¥1.3 bn Orders Compared to FY2024: -¥3.6 bn 6,000 8,000 6,771 4,539 6,000 4,000 3,146 4,000 3,160 2,983 2,000 3,462 2,000 914 1,240 0 0 FY2024 FY2025 FY2023 FY2024 FY2025 F

  27. Slide 27: Forecast for Associated Business Segment

    * Associated Business includes real estate business, total building management, Financial Results Forecast for maintenance and inspection of electrical facilities, sale of materials, software 3 development, and design of electrical facilities. Associated Business Segment Figures for real estate leas

  28. Slide 28: NIPPON DENSETSU Three-year Management Plan 2024 (Topics)

    NIPPON DENSETSU Three-year Management 4 Plan 2024 (Topics) Copyright(C)2025 NIPPON DENSETSU KOGYO CO.,LTD. All Rights Reserved 27

  29. Slide 29: Three-year Management Plan 2024 (Topics): Infrastructure Sharing, Local Communities

    NIPPON DENSETSU Three-year Management 4 Plan 2024 (Topics) Infrastructure sharing business <Established a company specialized in the ・September 2023: telecommunications business was established> The Company was registered as a telecommunications carrier. Company name: JCroc Co., Ltd. ・October 2024:

  30. Slide 30: Three-year Management Plan 2024 (Topics): Secure Human Resources

    NIPPON DENSETSU Three-year Management 4 Plan 2024 (Topics) Secure human resources <Number of new graduate hires (to join the Company in April 2026)> ⚫ Enhance the hiring of liberal arts students for technical positions and mid- This fiscal year career recruitment of inexperienced individuals Plan: 1

  31. Slide 31: Three-year Management Plan 2024 (Topics): Increase Productivity

    NIPPON DENSETSU Three-year Management 4 Plan 2024 (Topics) Increase productivity <Strengthening the back office> Construction sites Back office ⚫ Centralize the preparation of documents, drawings, and related tasks during peak business Cloud-based collaboration periods including construction site se

  32. Slide 32: Implementing Management That Is Conscious of Cost of Capital and Stock Price

    Implementing Management That Is Conscious of 5 Cost of Capital and Stock Price Copyright(C)2025 NIPPON DENSETSU KOGYO CO.,LTD. All Rights Reserved 31

  33. Slide 33: Toward Further Enhancing Capital Efficiency: PBR Analysis

    Implementing Management That Is Conscious of Cost of 5 Capital and Stock Price Toward further enhancing capital efficiency Analysis of price book-value ratio (PBR) (Times) (billion yen) (Times) (%) Price book-value ratio (PBR) Price earnings ratio (PER) Return on equity (ROE) 1.00 140 20.0 8.00 18.0

  34. Slide 34: Toward Further Enhancing Capital Efficiency: ROE Analysis

    Implementing Management That Is Conscious of Cost of 5 Capital and Stock Price Toward further enhancing capital efficiency Analysis of return on equity (ROE) (Times) Efficiency (Asset turnover ratio) (Times) (%) Profitability (profit margin) Stability (Financial leverage) 0.8 1.7 8.0 6.08 0.73 1.6 6

  35. Slide 35: NIPPON DENSETSU Three-year Management Plans

    4 NIPPON DENSETSU Three-year Management Plans Expand net sales and secure operating profit To grow sustainably Net sales Three-year management Three-year management Three-year management Three-year management Three-year management Three-year management Operating (billion yen) plan 2009 plan 2012 pla

  36. Slide 36: Forecast Note and Inquiries

    Please note that the forecast figures presented in this document were prepared based on the information available to the Company at the time they were prepared, and actual results may differ from the forecasts in the document due to fluctuation of the levels of various risks and uncertainties and ch

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