Nishimatsu Construction Co., Ltd. · TSE:1820

Nishimatsu Construction — H1 FY2026/3 Earnings Presentation

31 slides from Nishimatsu Construction's earnings presentation, Nov 7, 2025

  1. Slide 1: Financial Results Presentation Material (Fact Book)

    Financial Results Presentation Material (Fact Book) Six Months Ended September 30, 2025 November 7, 2025 Forecasts and other forward-looking statements contained in this document are based on information available as of the publication date of this document, and actual results may differ due to vari

  2. Slide 2: Contents

    Contents Financial Highlights of Six Months Ended September 30, 2025 Page • Consolidated Statements of Income 1 • Construction Orders Received 2 • Consolidated Balance Sheets 4 • Overview of Operating Results by Business Segment 5 • TOPICS 11 Data Section (Fact Book) I. Results of Six Months Ended S

  3. Slide 3: Consolidated Statements of Income

    Consolidated Statements of Income｜ Financial Highlights of Six Months Ended September 30, 2025  Consolidated Results (Unit: 100 Million Yen) Previous Results Compared with FY2025/3 2Q FY2026/3 Full year fiscal year Increase Forecast at Increase Revised (FY2025/3 2Q) (FY2026/3 2Q) /decrease beginnin

  4. Slide 4: Construction Orders Received

    Construction Orders Received｜ Financial Highlights of Six Months Ended September 30, 2025  Orders Received (Unit: 100 Million Yen) Previous Results Compared with FY2025/3 2Q FY2026/3 Full year fiscal year Increase Forecast at Increase Revised (FY2025/3 2Q) (FY2026/3 2Q) /decrease beginning of Progr

  5. Slide 5: Major Construction Orders Received

    Construction Orders Received｜ Financial Highlights of Six Months Ended September 30, 2025  Major Construction Orders Received Type of Projects’ Segment Name of Project Client Work Location Domestic Kanto Regional Development Bureau, civil Road 2025 National Route 357 Tamagawa Tunnel Haneda Vertical

  6. Slide 6: Consolidated Balance Sheets

    Consolidated Balance Sheets｜ Financial Highlights of Six Months Ended September 30, 2025  Consolidated Financial Position (Unit: 100 Million Yen) Previous fiscal year Current fiscal year Increase/decrease from FY2025/3 FY2026/3 2Q end of FY2025/3 Increase/ Increase/ Composition Composition Amount A

  7. Slide 7: Domestic Civil Engineering Business

    Domestic Civil Engineering Business｜ Overview of Operating Results by Business Segment (Unit: 100 Million Yen)  Results (Non-Consolidated) Orders received Net sales Gross profit / margin Orders carried forward 300 13.6% 12.2% 13.5% 15.0% 1,150 250 10.0% 2,693 1,075 200 155 5.0% 150 2,632 700 50

  8. Slide 8: Domestic Building Business

    Domestic Building Business｜ Overview of Operating Results by Business Segment (Unit: 100 Million Yen)  Results (Non-Consolidated) Orders received Net sales Gross profit / margin Orders carried forward 11.1% 2,300 2,200 300 10.0% 12.0% 7.3% 2,938 250 220 7.0% 200 2,874 944 962 991 150 110 2.0% 7

  9. Slide 9: International Business

    International Business｜ Overview of Operating Results by Business Segment  Results (Consolidated) (Unit: 100 Million Yen) Orders received Net sales Gross profit / margin 600 40 6.9% 6.8% 8.0% 295 35 6.0% 30 3.6% 4.0% 25 20 20 2.0% 137 137 0.0% 175 15 10 9 -2.0% 76 4 5 -4.0% 0 -6.0% 25/3期 FY2025/

  10. Slide 10: Asset Value-Added Business

    Asset Value-Added Business｜ Overview of Operating Results by Business Segment  Results (Consolidated) Gross profit / margin Net sales (Unit: 100 Million Yen) Upper : Sales Business Lower : Leasing Business, etc. 342 41.2% 36.7% 28.7% 98 205 124 54 57 74 28 27 61 6 137 1 68 26 25 41 62 FY2026/3 25

  11. Slide 11: Asset Value-Added Business: Changes in Business Assets

    Asset Value-Added Business｜ Overview of Operating Results by Business Segment  Changes in Business Assets (Consolidated) (Unit: 100 Million Yen) 2,170 2,080 1,850 24/3期 FY2024/3 25/3期 FY2025/3 26/3期 FY2026/3 期末 As of March 期末 As of March 2Q 2Q 31, 2024 31, 2025  Breakdown of Business Assets (208.0

  12. Slide 12: Regional Environmental Solution Business

    Regional Environmental Solution Business｜ Overview of Operating Results by Business Segment (Unit: 100 Million Yen)  Results (Consolidated) Net sales Gross profit / margin *Profit margins are calculated in yen. 7.5 5.0 26.6% 21.0% 30.0% 4.0 19.2% 3.0 20.0% 3.4 2.0 10.0% 2.1 1.4 1.0 0.6 0.7 0.0% 0

  13. Slide 13: TOPICS

    TOPICS  Technology Development • Created a concrete spraying automation system using automated spraying technologies enabling real-time measurement of spray thickness https://www.nishimatsu.co.jp/news/2025/post_148.html • Created a digital twin platform for mountain tunnels https://www.nishimatsu.c

  14. Slide 14: Data Section (Fact Book)

    Data Section (Fact Book) Trust. It's what we build.

  15. Slide 15: Contents

    Contents Ⅰ Results of the 2nd Quarter and Forecast of the Full Year Ⅲ Subsidiary Companies Information (2Q) Consolidated Statements of Income Major Subsidiary Companies results Consolidated Balance Sheets Detail of Consolidated Financial Information Consolidated Statements of Cash Flows Non-Consolid

  16. Slide 16: Consolidated Statements of Income

    Ⅰ Results of the 2nd Quarter and Forecast of the Full Year ◆Consolidated Statements of Income （Unit: 100 Million Yen） Results of the 2Q Full Year Last FY 2Q This FY 2Q (2025.4.1～2025.9.30) Last FY This FY(2025.4.1～2026.3.31) Variance Variance Item 2024/9 2025/9 with last 2025/3 2026/3 with last FY 2

  17. Slide 17: Consolidated Balance Sheets

    ◆Consolidated Balance Sheets （Unit: 100 Million Yen） Results Last FY This FY 2Q Item 2025/3 2025/9 Variance with last FY (2025.3.31) (2025.9.30) Amount ％ Amount ％ Amount ％ Current assets 2,991 50.5 3,341 54.3 349 11.7 Assets Non-current 2,928 49.5 2,812 45.7 ▲ 116 ▲ 4.0 assets Total assets 5,920 100

  18. Slide 18: Consolidated Statements of Cash Flows

    ◆Consolidated Statements of Cash Flows （Unit: 100 Million Yen） Results Last FY 2Q This FY 2Q Variance with Item 2024/9 2025/9 last FY 2Q (2024.4.1～2024.9.30) (2025.4.1～2025.9.30) Amount Amount Amount Income before income tax & minority interest 83 87 4 CF from Notes, accounts receivable / payable ▲

  19. Slide 19: Non-Consolidated Statements of Income

    ◆Non-Consolidated Statements of Income （Unit: 100 Million Yen） Results of the 2Q Full Year Last FY 2Q This FY 2Q (2025.4.1～2025.9.30) Last FY This FY(2025.4.1～2026.3.31) Variance Variance Item 2024/9 2025/9 with last 2025/3 2026/3 with last FY 2Q FY Forecast at the Forecast at the (2024.4.1～2024.9.3

  20. Slide 20: Non-Consolidated Orders Received

    ◆Non-Consolidated Orders Received （Unit: 100 Million Yen） Results of the 2Q Full Year Last FY 2Q This FY 2Q Last FY This FY (2025.4.1～2026.3.31) Variance with Variance with Item 2024/9 2025/9 2025/3 2026/3 last FY 2Q last FY Forecast at the (2024.4.1～2024.9.30) (2025.4.1～2025.9.30) (2024.4.1～2025.3.

  21. Slide 21: Non-Consolidated Net Sales

    ◆Non-Consolidated Net Sales （Unit: 100 Million Yen） Results of the 2Q Full Year Last FY 2Q This FY 2Q Last FY This FY (2025.4.1～2026.3.31) Variance with Variance with Item 2024/9 2025/9 2025/3 2026/3 last FY 2Q last FY Forecast at the (2024.4.1～2024.9.30) (2025.4.1～2025.9.30) (2024.4.1～2025.3.31) Fo

  22. Slide 22: Non-Consolidated Works Carried Forward

    ◆Non-Consolidated Works Carried Forward （Unit: 100 Million Yen） Results of the 2Q Full Year Last FY 2Q This FY 2Q Last FY Variance with Item 2024/9 2025/9 2025/3 last FY 2Q (2024.9.30) (2025.9.30) (2025.3.31) Amount ％ Amount ％ Amount ％ Amount ％ Public 1,932 29.9 1,919 31.3 ▲ 13 ▲ 0.7 2,203 32.7 Dome

  23. Slide 23: Non-Consolidated Gross Profit

    ◆Non-Consolidated Gross Profit （Unit: 100 Million Yen） Results of the 2Q Full Year Last FY 2Q This FY 2Q Last FY This FY (2025.4.1～2026.3.31) Variance with Variance with Item 2024/9 2025/9 2025/3 2026/3 last FY 2Q last FY Forecast at the (2024.4.1～2024.9.30) (2025.4.1～2025.9.30) (2024.4.1～2025.3.31)

  24. Slide 24: Non-Consolidated Orders Received (Domestic / Overseas, Public / Private)

    Ⅱ Detail of Construction Business Activities ◆Non-Consolidated Orders Received （Domestic / Overseas , Public / Private ） （Unit: Million Yen） 2023/3 2024/3 2025/3 2024/9 2025/9 Civil 148,385 45.3% 129,630 36.9% 204,591 49.9% 121,675 56.3% 25,794 25.2% Domestic public 74,983 22.9% 88,321 25.1% 163,811

  25. Slide 25: Non-Consolidated Net Sales (Domestic / Overseas, Public / Private)

    ◆Non-Consolidated Net Sales （Domestic / Overseas, Public / Private ） （Unit: Million Yen） 2023/3 2024/3 2025/3 2024/9 2025/9 Civil 118,372 40.0% 125,698 34.8% 130,250 40.5% 59,274 38.1% 65,019 39.6% Domestic public 83,239 28.2% 84,651 23.4% 78,105 24.3% 38,142 24.5% 38,078 23.2% Domestic private 23,1

  26. Slide 26: Non-Consolidated Works Carried Forward (Domestic / Overseas, Public / Private)

    ◆Non-Consolidated Works Carried Forward （Domestic / Overseas, Public / Private ） （Unit: Million Yen） 2023/3 2024/3 2025/3 2024/9 2025/9 Civil 285,820 48.0% 289,753 49.5% 364,094 54.0% 352,154 54.5% 324,869 53.1% Domestic public 130,967 22.0% 134,637 23.0% 220,343 32.7% 193,292 29.9% 191,919 31.3% Do

  27. Slide 27: Subsidiary Companies Information (2Q)

    Ⅲ Subsidiary Companies information (2Q) ◆Major Subsidiary Companies results （Unit: Million Yen） Thai Nishimatsu Construction Co., Ltd.【International business】 Construction Net sales Gross profit Operating income Ordinary income Net income orders received 2024/9 2,972 5,522 203 ▲8 ▲0 ▲ 11 2025/9 6,38

  28. Slide 28: Financial Data: Segment Information

    Ⅳ Financial Data ◆Segment Information（Consolidated） （Unit: Million Yen） 2022/9 2023/9 2024/9 2025/9 Civil Net sales Net sales external client 50,016 47,042 50,261 55,724 Net sales internal transaction - - - - Total 50,016 47,042 50,261 55,724 Segment profit 5,946 4,416 3,881 3,204 Buildings Net sale

  29. Slide 29: Major Financial Data (Consolidated / Non-Consolidated)

    ◆Major Financial Data (Consolidated) （Unit: 100 million Yen） 2nd Quarter Full Year Results Results Forecast 2023/9 2024/9 2025/9 2024/3 2025/3 2026/3 Interest-bearing debt 1,915.7 2,337.4 2,424.9 1,861.5 2,142.1 2,480.0 Guarantee for loans of 0.7 0.6 0.4 0.6 0.5 0.3 consolidated subsidiaries etc. Ca

  30. Slide 30: Major Management Index Transition (Consolidated)

    Ⅴ Major Management Index ◆Major Management Index Transition (Consolidated) 85th FY 86th FY 87th FY 88th FY 89th FY 2nd Quarter 2nd Quarter 2nd Quarter 2nd Quarter 2nd Quarter 2021/9 2022/9 2023/9 2024/9 2025/9 Construction orders received （Million Yen） 88,814 149,779 118,118 219,367 108,773 Net sale

  31. Slide 31: Major Management Index Transition (Non-consolidated)

    ◆Major Management Index Transition (Non-consolidated) 85th FY 86th FY 87th FY 88th FY 89th FY 2nd Quarter 2nd Quarter 2nd Quarter 2nd Quarter 2nd Quarter 2021/9 2022/9 2023/9 2024/9 2025/9 Construction orders received （Million Yen） 84,266 141,603 116,745 216,109 102,384 Net sales （Million Yen） 150,4

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