Tsubaki Nakashima Co., Ltd · TSE:6464
Tsubaki Nakashima — H1 2026 Earnings Presentation
27 slides from Tsubaki Nakashima's earnings presentation, Aug 10, 2026
Slide 1: 1H FY2026 Financial Results Presentation
1H FY2026 Financial Results Presentation （Including Progress of Mid-Term Business Plan 2025-2029） TSUBAKI NAKASHIMA CO., LTD. （Code: 6464 / TSE Prime Market） August 10, 2026
Slide 2: Disclaimer
Disclaimer This presentation is based on the economic, regulatory, market and other conditions as in effect on the date hereof, and Tsubaki Nakashima does not guarantee that this information is accurate or complete. Subsequent developments may affect the information contained in this presentation, w
Slide 3: Table of contents
1. 1H FY2026 Results Table of contents 2. Progress on the Mid-Term Business Plan 2025-2029 3. Sustainability Copyright © 2026 Tsubaki Nakashima Co, Ltd. All rights reserved. 2
Slide 4: Key Takeaways on Financial Results and Business Operations
Key Takeaways on Financial Results and Business Operations Highlight 1H (6 months) operating profit increased YoY, supported by a gain on the land sales recognized in the Q1. Q2 (3 months) operating profit recovered QoQ, but was partially offset by restructuring costs. 1H operating profit was suppor
Slide 5: FY2026 1H YoY and Full-year Forecast
FY2026 1H YoY and Full-year Forecast 6 months Highlight Revenue decreased by 6.4% YoY (excluding forex impact). Operating profit was ¥1.32 billion supported by ¥1.04 billion gain from land sales (one-time profit) recorded in Q1. ‒ There are no changes to the FY26 full-year plan at this time ‒ The im
Slide 6: FY2026 Q2 YoY / QoQ
FY2026 Q2 YoY / QoQ 3 months Highlight Q2 (3 months) revenue increased by 7.3% YoY (including forex impact). Operating profit decreased by 55.4% YoY due to the recognition of restructuring costs ‒ The previous quarter included a gain on the sale of idle land at the Georgia plant in the U.S. Excludin
Slide 7: FY2026 1H Revenue by Segment and Region (YoY)
FY2026 1H Revenue by Segment and Region (YoY) 6 months Highlight 1H revenue for the Precision Components segment was down 6.5% YoY (excluding FX impact) ‒ Revenue by region showed YoY growth in Japan and Asia (excluding China). ‒ Europe faced a challenging market environment, posting a YoY decline e
Slide 8: FY2026 Q2 Revenue by Segment and Region (YoY / QoQ)
FY2026 Q2 Revenue by Segment and Region (YoY / QoQ) 3 months Highlight Q2 revenue for the Precision Components segment increased by 8.5% QoQ (including FX impact) ‒ Revenue by region showed growth compared to both the previous quarter and the same period last year, with the exception of Europe. ‒ Th
Slide 9: FY2026 1H Operating Profit vs FY2025 1H Operating Profit
FY2026 1H Operating Profit vs FY2025 1H Operating Profit 6 months Highlight Cost reduction by value creation activities effectively offset rising labor costs. Excluding the one-time “¥1 billion gain on land sales,” operating profit was 0.28 billion yen (¥ billion) Breakdown of “Value creation (=Cost
Slide 10: BS/CF
BS/CF Highlight Although declined significantly from last year, free cash flow remained positive. Inventories Cash Conversion Cycle Capital Expenditures Free Cash Flow (¥ billion) (Days) (¥ billion) (¥ billion) Although inventories increased FY2025 FY2026 CAPEX of approximately FCF remained positive
Slide 11: Trends in Cash Flow and Operating Income
Trends in Cash Flow and Operating Income Highlight Maintained positive free cash flow. FY2022 FY2023 FY2024 FY2025 FY2026 Q1 1H Full Year Full Year Full Year Full Year (3 months) (6 months) (¥ billion) Operating Cash Flow - 4.14 1.41 4.87 10.52 -0.63 -0.03 Investing Cash Flow - 3.50 - 4.90 - 3.80 1.
Slide 12: Growth Segment (FY2026 1H Sales Results)
Growth Segment (FY2026 1H Sales Results) Highlight Ceramics and plastics are performing well. India is showing steady growth. Aerospace and defense is weighted toward the second half of the fiscal year ‒ Growth segments in the Mid-Term Business Plan are Indian market, Aerospace & Defense, Ceramic Ba
Slide 13: Highlights from Our Business in India
Highlights from Our Business in India Factory expansion work New Sales Office Established in Pune to consolidate global production in India In addition to our two We have begun expanding our India manufacturing sites, we second factory in Bhilad to established a facility in Pune capture growing dema
Slide 14: Trends of Ceramic Ball Sales by Applications
For Reference Trends of Ceramic Ball Sales by Applications Highlight Ceramic balls showed recovery across the board in the Q2, including for EV (electric vehicle) applications. (\ billion) ■EV ■Machine tool spindle ■General industry ■Semiconductor ■Others Annual Quarterly YoY：+25％! 9.03 2.66 2.54 2.
Slide 15: Potential for New Demand
Potential for New Demand Highlight Precision balls are expected to play a key role in supporting AI infrastructure. Vacuum Pump for Humanoid Robots Fan for data center semiconductor Overview Overview Overview Vacuum pump is a critical component used A robot designed to resemble the human A cooling d
Slide 16: Table of contents
1. 1H FY2026 Results Table of contents 2. Progress on the Mid-Term Business Plan 2025-2029 3. Sustainability Copyright © 2026 Tsubaki Nakashima Co, Ltd. All rights reserved. 15
Slide 17: Progress of the Mid-Term Business Plan (2025–2029)
Progress of the Mid-Term Business Plan (2025–2029) Highlight With the solid foundation in place, we will focus on items I and IV for FY2026. Focus on items I and IV for FY26. 1. Cash Conversion Cycle, DIO+DSO-DPO; 2. Sales, Inventory, and Operation plan Deliver results based on the solid foundation
Slide 18: Progress of the Mid-Term Business Plan: Value Creation Pillars
Progress of the Mid-Term Business Plan: Value Creation Pillars Highlight Five-year plan is advancing steadily. CCC worsened by 6 days for FY26 1H. Six value creation drivers (¥ billion) FY25 Results FY26 1H Progress FY26 Plan FY29 Plan I Global manufacturing footprint optimization Close Erwin plant
Slide 19: Table of contents
1. 1H FY2026 Results Table of contents 2. Progress on the Mid-Term Business Plan 2025-2029 3. Sustainability Copyright © 2026 Tsubaki Nakashima Co, Ltd. All rights reserved. 18
Slide 20: Sustainability Initiatives
Sustainability Initiatives FY2026 1H Carbon footprint CO2 emissions Key projects （CO2 tons/tons） （CO2 tons） H1 2025 H1 2026 YoY 19 productivity initiatives Japan 0.79 1.25 +0.46 9,688 ongoing in FY2026 1H that Q4 West 0.74 0.64 -0.10 support CO2 reduction Ceramic 12.6 18.6 +6.00 Q3 16,694 China 0.59
Slide 21: APPENDIX
APPENDIX Copyright © 2025 Tsubaki Nakashima Co, Ltd. All rights reserved. 20
Slide 22: Quarterly Trends
Quarterly Trends Sales / Operating Profit / OP margin (\ billion) Sales Operating profit OP margin 19.84 20.53 19.97 20.34 19.08 19.51 18.86 18.86 19.08 18.64 18.02 18.27 17.62 17.59 17.78 17.78 16.71 17.08 10.9% 8.7% 7.9% 7.6% 6.9% 5.0% 6.3% 2.24 3.2% 2.2% 2.4% 2.0% 1.53 -0.27 1.31 0.27 1.13 0.19 1
Slide 23: Quarterly Trends by Segments: Sales
Quarterly Trends by Segments Sales (\ billion) 25.0 20.0 15.0 10.0 5.0 0.0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 FY2021 FY2022 FY2023 FY2024 FY2025 FY2026 Precision 15.81 16.46 15.16 15.42 17.37 18.21 18.81 19.28 18.68 18.68 18.71 19.86 19.62 20.19 17.88 17.41 18.00 17.56
Slide 24: Quarterly Trends by Segments: Operating Profit
Quarterly Trends by Segments Operating Profit (\ billion) 3.0 2.0 1.0 0.0 -1.0 -2.0 -3.0 -4.0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 FY2021 FY2021 FY2022 FY2022 FY2023 FY2023 FY2024 FY2024 FY2025 FY2025 FY2026 FY2026 Precision 1.67 1.65 1.51 0.30 1.50 -0.32 1.23 -7.88 1.55
Slide 25: Sustainability Initiatives (Supplementary Information)
Sustainability Initiatives (Supplementary Information) Carbon Disclosure Project (CDP) Sustainability development ‒ Carbon Disclosure Project (CDP): the world’s economy looks to CDP as the strategy gold standard of environmental reporting. The aim of CDP is to see a thriving economy that works for p
Slide 26: FOREX (Cumulative Average Rate) Trend
FOREX (Cumulative Average Rate) Trend FY2023 FY2024 FY2025 FY2026 Full year Full year Full year Q1 (3 months) 1H (6 months) (Japanese Yen) US$ 131.43 140.56 151.58 149.71 156.86 158.18 Euro 138.04 152.00 163.95 169.00 183.65 184.52 Chinese yuan 19.48 19.82 21.02 20.82 22.66 23.05 Copyright © 2026 Ts
Slide 27: For Reference: Highlights for the FY2026 Q2 (April–June)
For Reference: Highlights for the FY2026 Q2 (April–June) Highlight Comprehensive business operations spanning sales, manufacturing, and organizational management Sales April 1 Press Release TN UK Ball Gauges Selected by Leading Formula 1 Team Organization April 1 Other NEW EMPLOYEE ORIENTATION AT TH