Nippon Air Conditioning Services Co., Ltd. · TSE:4658
Nippon Air Conditioning Services — Q2 FY2026/03 Earnings Presentation
44 slides from Nippon Air Conditioning Services's earnings presentation, November 2025
Slide 1: Reference Materials of Financial Results for the 2nd Quarter FY ending March 2026
© 2025 Nippon Air Conditioning Services Co., Ltd. All Rights Reserved. Reference Materials of Financial Results for the 2nd Quarter of Fiscal Year Ending March 31, 2026 November 2025 TSE Prime Market, NSE Premier Market Securities code: 4658
Slide 2: Company overview
Company overview © 2025 Nippon Air Conditioning Services Co., Ltd. All Rights Reserved. Company overview Apr. 1964 The company is established in Higashijukucho, Nakamura-ku Nagoya-shi, Aichi. Company Nippon Air Conditioning Name Services Co., Ltd. Securities The Company at a Glance by Numbers 4658 c
Slide 3: Number of employees
Number of employees © 2025 Nippon Air Conditioning Services Co., Ltd. All Rights Reserved. ■ Regular employees Technology-related employees ■Number of employees (persons) ■ Average temporarily employed workers ( ) Technology-related employees account for approximately 80% 4,000 Technology-oriented c
Slide 4: History since foundation
History since foundation © 2025 Nippon Air Conditioning Services Co., Ltd. All Rights Reserved. ■Net sales and operating income changes since foundation (billion yen) ■ Net sales (left axis) ● Operating income (right axis) 80 8 Apr. 1964 Establishment 2024 Five-Year Mid-Term Management Plan 70 Start
Slide 5: Maintenance and management cycle of building facilities
Maintenance and management cycle of building facilities © 2025 Nippon Air Conditioning Services Co., Ltd. All Rights Reserved. ■Business Overview In-house technicians can respond in any phase Comprehensive support encompassing building facility maintenance, operation, and management, Planning facili
Slide 6: Business division
Business division © 2025 Nippon Air Conditioning Services Co., Ltd. All Rights Reserved. Net sales Business division Overview composition We conduct inspection, maintenance, repair, replacement, PM etc. of overall equipment/systems of buildings (mainly air 35％ Preventive Maintenance conditioning) by
Slide 7: Contents
Contents © 2025 Nippon Air Conditioning Services Co., Ltd. All Rights Reserved. Ⅰ． Overview of financial results for FY2026/03 1H p.06-p.19 Ⅱ．The 2024 Five-Year Mid-Term Management Plan p.20-p.27 Ⅲ．Shareholder Returns p.28-p.31 Ⅳ．Supplementary materials p.32-p.42 6
Slide 8: Forecast for the fiscal year ending March 31, 2026
Ⅰ．Forecast for the fiscal year ending March 31, 2026 © 2025 Nippon Air Conditioning Services Co., Ltd. All Rights Reserved. Although unstable geopolitical conditions, inflation, and other unfavorable factors are expected to continue, we aim to achieve a year-on-year increase in both sales and profit
Slide 9: Results for the 2nd quarter of fiscal year ending March 31, 2026
Ⅰ．Results for the 2nd quarter of fiscal year ending March 31, 2026 © 2025 Nippon Air Conditioning Services Co., Ltd. All Rights Reserved. (billion yen, %) FY2024/03 2Q FY2025/03 2Q FY2026/03 2Q Consolidated (cumulative period) Ratio to Year-on-year Ratio to Year-on-year Ratio to Year-on-year Amount
Slide 10: Results for the 2nd quarter: progress against plan
Ⅰ．Results for the 2nd quarter of fiscal year ending March 31, 2026 © 2025 Nippon Air Conditioning Services Co., Ltd. All Rights Reserved. For FY2026/03 1H, following the previous fiscal year, both net sales and profits exceeded the progress rate for the same period a year ago due to various factors
Slide 11: Net sales by quarter
Ⅰ．Results for the 2nd quarter of fiscal year ending March 31, 2026 © 2025 Nippon Air Conditioning Services Co., Ltd. All Rights Reserved. For FY2026/03 1H, net sales reached a record high for the third consecutive year. Net sales of the mainstay maintenance services reached a record high for the fif
Slide 12: Gross profit
Ⅰ．Results for the 2nd quarter of fiscal year ending March 31, 2026 © 2025 Nippon Air Conditioning Services Co., Ltd. All Rights Reserved. Profits increased in all categories of annual contracts, spot contracts, and construction by absorbing increases in costs due to rising procurement costs of mater
Slide 13: SG&A expenses for the 2nd quarter
Ⅰ．SG&A expenses for the 2nd quarter of fiscal year ending March 31, 2026 © 2025 Nippon Air Conditioning Services Co., Ltd. All Rights Reserved. SG&A expenses increased due to rising labor costs from base pay raises and higher depreciation expenses mainly associated with the Company’s Technical Train
Slide 14: Operating income for the 2nd quarter
Ⅰ．Operating income for the 2nd quarter of fiscal year ending March 31, 2026 © 2025 Nippon Air Conditioning Services Co., Ltd. All Rights Reserved. Although SG&A expenses increased, operating income increased year on year in terms of both amount and margin, driven by steady growth in net sales from m
Slide 15: Net sales by facilities entrusted
Ⅰ．Results for the 2nd quarter of fiscal year ending March 31, 2026 © 2025 Nippon Air Conditioning Services Co., Ltd. All Rights Reserved. ■Net sales by facilities of which services are entrusted ■ Hospitals and research facilities ■ Manufacturing plants, etc. ①Hospitals and research facilities (bill
Slide 16: Annual contracts, maintenance and renovation sales
Ⅰ．Results for the 2nd quarter of fiscal year ending March 31, 2026 © 2025 Nippon Air Conditioning Services Co., Ltd. All Rights Reserved. ■ Hospitals and research facilities ■ Manufacturing plants, etc. ■ Other special facilities ■ Office buildings, etc. ■Annual contract sales (billion yen) ■Mainten
Slide 17: Overseas net sales by region
Ⅰ．Results for the 2nd quarter of fiscal year ending March 31, 2026 © 2025 Nippon Air Conditioning Services Co., Ltd. All Rights Reserved. ■Overseas net sales by region (million yen) ■ China ■ Singapore Net sales in four countries outside Japan ： ¥ 0.9 billion ■ Other regions Overall, maintenance inc
Slide 18: Status of cash flows
Ⅰ．Status of cash flows © 2025 Nippon Air Conditioning Services Co., Ltd. All Rights Reserved. FY2025/03 2Q FY2026/03 2Q Consolidated Cash flows from operating activities decreased (cumulative period) Amount Year-on-year Amount Year-on-year ▼ change change (billion yen) (billion yen) (billion yen) (b
Slide 19: Assets
Ⅰ．Assets © 2025 Nippon Air Conditioning Services Co., Ltd. All Rights Reserved. ■Assets (billion yen) ■Key variable factors Current assets -4.6 48.5 46.3 Notes receivable, accounts receivable from -5.2 completed construction contracts and other Inventories +1.1 Non-current assets +2.4 Current 28.6 -
Slide 20: Liabilities and Net assets
Ⅰ．Liabilities and Net assets © 2025 Nippon Air Conditioning Services Co., Ltd. All Rights Reserved. ■Liabilities and Net assets (billion yen) ■Key variable factors Current liabilities -4.8 48.5 Notes payable, accounts payable for -2.5 46.3 construction contracts and other Accrued expenses -1.2 Curre
Slide 21: Contents
Contents © 2025 Nippon Air Conditioning Services Co., Ltd. All Rights Reserved. Ⅰ．Overview of financial results for FY2026/03 1H p.06-p.19 Ⅱ．The 2024 Five-Year Mid-Term Management Plan p.20-p.27 Ⅲ．Shareholder Returns p.28-p.31 Ⅳ．Supplementary materials p.32-p.42 20
Slide 22: 2024 Five-Year Mid-Term Management Plan: Purpose, Mission, Vision, Value
Ⅱ．The 2024 Five-Year Mid-Term Management Plan © 2025 Nippon Air Conditioning Services Co., Ltd. All Rights Reserved. PURPOSE Contributing to the sustainability of customer businesses and enhancing the value of society as a whole MISSION Bringing together the technological capabilities and human reso
Slide 23: Mid-Term Plan: human capital and technical capability KPIs
Ⅱ．The 2024 Five-Year Mid-Term Management Plan © 2025 Nippon Air Conditioning Services Co., Ltd. All Rights Reserved. VALUE Sustainable value creation and returns through enhancing the value of human capital 01 Increasing engagement to maximize the performance of our greatest asset, our employees We
Slide 24: Mid-Term Plan: overseas and profit targets
Ⅱ．The 2024 Five-Year Mid-Term Management Plan © 2025 Nippon Air Conditioning Services Co., Ltd. All Rights Reserved. VALUE Sustainable value creation and returns through enhancing the value of human capital 05 Expanding and strengthening overseas operations to improve the sustainability of our busin
Slide 25: Mid-Term Plan: first-year KPI achievement
Ⅱ．The 2024 Five-Year Mid-Term Management Plan © 2025 Nippon Air Conditioning Services Co., Ltd. All Rights Reserved. In the first year, net sales increased due to a less competitive market environment, the acquisition of highly profitable projects, and orders received at appropriate prices, etc. ref
Slide 26: Technical Training Center
Ⅱ．The 2024 Five-Year Mid-Term Management Plan © 2025 Nippon Air Conditioning Services Co., Ltd. All Rights Reserved. The construction of the Technical Training Center, aimed at accelerating the process of enhancing human capital value as a key to expanding our corporate value, was completed in Novem
Slide 27: Improving the happiness of all stakeholders by FY March 2029
VISION toward the fiscal year ending March 31, 2029 © 2025 Nippon Air Conditioning Services Co., Ltd. All Rights Reserved. ▶Stay on the right path and continue human capital-focused growth to enhance corporate value. Operating income margin ： 6％ Customers Employee Shareholder Net sales： 74bil. yen N
Slide 28: Thrive, for growth
© 2025 Nippon Air Conditioning Services Co., Ltd. All Rights Reserved. Thrive, for growth We will do what we must. Strengthening the competitive advantages of our core businesses, contributing to the sustainability of customer businesses activities. 27
Slide 29: Contents
Contents © 2025 Nippon Air Conditioning Services Co., Ltd. All Rights Reserved. Ⅰ．Overview of financial results for FY2026/03 1H p.06-p.19 Ⅱ．The 2024 Five-Year Mid-Term Management Plan p.20-p.27 Ⅲ．Shareholder Returns p.28-p.31 Ⅳ．Supplementary materials p.32-p.42 28
Slide 30: Stock-related information
Ⅲ．Stock-related information © 2025 Nippon Air Conditioning Services Co., Ltd. All Rights Reserved. ■Dividend yield (％) Stock-related information 6.00 5.24 4.16 4.52 Stock price ¥1,237 3.82 3.88 4.00 Total market capitalization ¥44.2 billion 2.00 *Dividend yield is calculated using the actual dividen
Slide 31: Shareholder Returns: dividend per share and payout ratio
Ⅲ．Shareholder Returns © 2025 Nippon Air Conditioning Services Co., Ltd. All Rights Reserved. We plan to pay an annual dividend of 46 yen per share (interim dividend of 23 yen and year-end dividend of 23 yen) for FY2026/03. In addition, the introduction of the Shareholder Benefits Program was launche
Slide 32: Stable and sustainable returns
Ⅲ．Shareholder Returns © 2025 Nippon Air Conditioning Services Co., Ltd. All Rights Reserved. Profit growth through sustainable growth of core businesses ▼ Stable and sustainable returns ▼ During the period covered by the 2024 Five-Year Mid-term Management Plan, the minimum annual dividend per share
Slide 33: Contents
Contents © 2025 Nippon Air Conditioning Services Co., Ltd. All Rights Reserved. Ⅰ．Overview of financial results for FY2026/03 1H p.06-p.19 Ⅱ．The 2024 Five-Year Mid-Term Management Plan p.20-p.27 Ⅲ．Shareholder Returns p.28-p.31 Ⅳ．Supplementary materials p.32-p.42 32
Slide 34: Three key advantages
Ⅳ．Nippon Air Conditioning Services Three key advantages © 2025 Nippon Air Conditioning Services Co., Ltd. All Rights Reserved. ① Advanced technological capabilities ② Independence from manufactures Company A Company B Company C ③Vast service network 33
Slide 35: Advanced technological capabilities
Ⅳ．① Advanced technological capabilities © 2025 Nippon Air Conditioning Services Co., Ltd. All Rights Reserved. ■Ratio of sales of facilities with special environment (%) ■ Ratio of sales of facilities with special environment ■ Other sales Hospitals and manufacturing plants must meet strict environm
Slide 36: Advanced technological capabilities (examples of hospital operations)
Ⅳ．① Advanced technological capabilities(Examples of Hospital Operations) © 2025 Nippon Air Conditioning Services Co., Ltd. All Rights Reserved. Central surveillance service Solution proposals “Is it possible to create such and such environment?” or “How can we improve the situation?” ▼ ＋ Daily measu
Slide 37: Examples of the technological capabilities required
Ⅳ．① Advanced technological capabilities © 2025 Nippon Air Conditioning Services Co., Ltd. All Rights Reserved. Examples of the technological capabilities required are shown below. *Picture: Environmental performance measurement / diagnosis, Clean equipment maintenance, Environmental hygiene manageme
Slide 38: Independence from manufacturers
Ⅳ．②Independence from manufactures © 2025 Nippon Air Conditioning Services Co., Ltd. All Rights Reserved. There is air-conditioning equipment from various makers inside buildings. Company A- Company B- Company C- manufacture manufacture manufacture (1) As an independent company, we are not subject to
Slide 39: Vast service network
Ⅳ．③Vast service network © 2025 Nippon Air Conditioning Services Co., Ltd. All Rights Reserved. Japan Overseas 〇Nippon Air Conditioning Services Co., Ltd. ○China Head office, branches and sales offices:68 locations ・Suzhou Nikku Suntec Electromechanical Technology Co., Ltd. 〇Group Companies （an overs
Slide 40: Domestic market size
Ⅳ．Domestic market size © 2025 Nippon Air Conditioning Services Co., Ltd. All Rights Reserved. Construction and maintenance Companies*1 approx. ¥2.5 trillion ▼ Approx. 65% of the air conditioning and heat source system market is for existing buildings*2 ▼ We project a target for the Company of approx
Slide 41: Share in large-scale domestic hospitals
Ⅳ．Share in large-scale domestic hospitals © 2025 Nippon Air Conditioning Services Co., Ltd. All Rights Reserved. ■ Percentage of acceptance of outsourcing for domestic hospitals that have 600 beds or more (beds) Our strengths include facilities maintenance at large ■ Our company ■ Others hospitals,
Slide 42: Hospital energy savings (example)
Ⅳ．Hospital energy savings (example) © 2025 Nippon Air Conditioning Services Co., Ltd. All Rights Reserved. ■Energy transition graph（t-CO2） 2010年度エネルギー Energy in FY2010 Midsized Tokyo hospital(450 beds scale) 2023年度エネルギー Energy in FY2024 Total floor area approx. 48,000 sqm 800 Succeeded in saving a s
Slide 43: Acquire patents by developing new technologies
Ⅳ．Acquire patents by developing new technologies © 2025 Nippon Air Conditioning Services Co., Ltd. All Rights Reserved. First 特許1つ目 patent Second patent Third patent （2023年4月） (April 2023) (November 2023) (September 2025) Safer and easier-to-use microbe Microbe Safer microbe decontamination decontam
Slide 44: Disclaimer
Disclaimer © 2025 Nippon Air Conditioning Services Co., Ltd. All Rights Reserved. These materials were prepared by Nippon Air Conditioning Services Co., Ltd. (the “Company”) for the purpose of understanding the current status of the Company, and do not aim at solicitation for investment in securitie
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