Note: This material has been translated from the Japanese original for reference purposes only. In the event of any
discrepancy between this translated material and the Japanese original, the original shall prevail.
Financial Results for the Fiscal Year Ended March 31, 2026
DaikyoNishikawa Corporation
May 2026
©DaikyoNishikawa Corporation All rights reserved.
FY2025 Full-Year Results | |
Consolidated Net Sales | Operating Profit |
JPY165.7billion | JPY10.2billion |
Year on Year vs. May. Forecast -1.7% -0.1% | Year on Year vs. May. Forecast +2.5% +44.4% |
Summary of FY2025 results | |
| |
FY2026 Full-Year Forecast | |
Consolidated Net Sales | Operating Profit |
JPY161.8billion | JPY 8.8billion |
Year on Year -2.4% | Year on Year -14.2% |
Outline of FY2026 forecasts | |
| |
Shareholder Returns |
|
Initiatives of the medium-term plan |
Structure Reform". |
©DaikyoNishikawa Corporation All rights reserved.
P.1
Financial Results for Fiscal 2025 P. 3
Financial Forecasts for Fiscal 2026 P. 9
* "Net profit" in this presentation indicates "Profit attributable to owners of the parent".
Overseas consolidated subsidiaries for fiscal year under review is from January 1 to December 31.
Financial Results for Fiscal 2025
Summary | Sales and profits increased compared to the earnings forecast announced in February. |
Net sales | Sales increased due to an increase in production volume for some customers and sales of prototypes, etc. |
Operating profit | Profits increased mainly due to a more-than-expected decrease of mass production preparation costs for new products and a decrease in depreciation resulting from change in investment timing. |
(Millions of yen)
FY2025 forecasts (Announced in Feb. 2026) | FY2025 results | Changes | Rate of change | |
Net sales | 164,800 | 165,706 | 906 | +0.6% |
Operating profit | 8,800 | 10,251 | 1,451 | +16.5% |
Operating profit margin | 5.3% | 6.2% | 0.9pts | |
Ordinary profit | 9,300 | 10,709 | 1,409 | +15.1% |
Net profit | 6,900 | 8,661 | 1,761 | +25.5% |
FY2025 forecasts (Announced in May. 2025) | Changes | Rate of change |
165,800 | -94 | -0.1% |
7,100 | +3,151 | +44.4% |
4.3% | +1.9pts | |
6,900 | +3,809 | +55.2% |
5,200 | +3,461 | +66.6% |
Exchange rate (vs. U.S. dollar) | Full-year results: 149.71 yen | Full-year results: 149.71 yen |
Full-year forecast:
144 yen
Summary
Net sales
Total net Sales decreased due to a decrease in production volume in Japan and Mexico, despite steady sales due to an increase in production volume in the U.S. and new orders received.
Operating profit | Despite the lower sales impact, operating profit increased mainly due to the higher sales impact in the U.S., thorough cost improvement activities at each company, and exchange rate effects in Mexico. |
Ordinary profit | Ordinary profit increased mainly due to the recording of foreign exchange gains. |
Net profit | Sales decreased due to a decrease in production volume in Japan and Mexico, despite steady sales due to an increase in production volume in the U.S. and new orders received. |
(Millions of yen)
FY2024 results | FY2025 results | Changes | Rate of change | |
Net sales | 168,561 | 165,706 | -2,855 | -1.7% |
Operating profit | 10,004 | 10,251 | 247 | +2.5% |
Operating profit margin | 5.9% | 6.2% | 0.3pts | |
Ordinary profit | 9,688 | 10,709 | 1,021 | +10.5% |
Net profit | 6,498 | 8,661 | 2,163 | +33.3% |
Exchange rate(vs. U.S. dollar) | Full-year results: 151.57 yen | Full-year results: 149.71 yen |
Summary | Compared to the forecast announced in May, revenue is slightly lower. |
Product sales | Unit price declined due to a decrease in production units in Mexico and the effect of product mix in Japan. |
Impact of exchange rate | In May, we assumed an exchange rate of 1 USD = 144 JPY. As the actual exchange rate was 1 USD = 149.71 JPY, the exchange rate effect was more positive than expected. |
(Millions of yen)
+673
-1,469
FY2024 | Product sales | Tool sales | Other sales | Impact of | FY2025 | Product sales | Tool sales | Other sales | Impact of | FY2025 |
Net sales | exchange rate | Net sales | exchange rate | Net sales |
・Number of units produced
Global Mazda -1.6%
Domestic Daihatsu +10.6%
・Increased sales for other customers
-3,029
+2,214
・Impact of yen translation
North America: -1.63 billion yen ASEAN: -60 million yen
China and Korea:-330 million yen
・Impact of exchange in Central America
+960 million yen
+181
・Production volume
Global Mazda -0.2%
Domestic Daihatsu +4.0%
・A decline in unit price caused by product mix
-896
-1,069
165,706
Y on Y change -2,761
Y on Y change -94
168,561
+541
・An increase in prototype sales
・Impact of yen conversions
North America: +1020 million yen ASEAN: +320 million yen
China and Korea: +200 million yen
・Impact of exchange rate in Mexico
165,800
+670 million yen
（Results）
（ May Forecast ） （Results）
Summary
Cost reduction
Impact of exchange
rate
Implemented quality productivity improvements, energy conservation initiatives, operational efficiency measures, etc. Exchange rate effects were more positive than expected due to the weaker yen and the appreciation of MXN against USD.
(Millions of yen)
・Impact of yen conversions: -120 million yen
・Impact of yen conversions: +130million yen
・Impact of exchange rate in Central America:
-3,450
・Boosting the efficiency of
manufacturing operations
・Energy-saving activities
-1,006
・Impact of exchange rate in Central America:
+820 million yen
・Increase in costs related to
・Steady progress in rationalization activities
+1.1 billion yen
10,251
10,004
7,100
Y on Y change -2,904
+1,235
+807
+2,000
-267
・Preparing for mass production of
+688
information systems
-869
+185
+600
+110
+214
・Change in investment timing
new domestic products
・Investment in human capital and cost increase -1.5 billion yen
・Decrease in compensation for production fluctuations -1 billion yen
・Decrease in tool/other sales
-700 million yen
・Investment in human capital and cost
increase -300 million yen
・Impact of lower sales:
-300 million yen
・Decrease in tool/other sales
+700 million yen
Y on Y change +3,151
FY2024 | Volime and | Cost | Launch costs | Depreciation | Impact of | Other costs | FY2025 | Volime and | Cost | Launch costs | Depreciation | Impact of | Other costs | FY2025 |
Operating | product mix | improvement | expenses | exchange rate | Operating | product mix | improvement | expenses | exchange rate | Operating | ||||
profit | profit | profit |
FY2025 Operating Profit Increase/Decrease Factors (vs. May Forecast)
Net sales
-JPY 2,855 million
(Millions of yen)
Operating profit
+JPY 247 million
- Major factors behind changes in operating profit
2,957
544
China and Korea ASEAN
168,561
103,791
101,305
46,859
46,308
10,878
6,663
7,654
10,807
165,706
Operating profit deceased due to the lower sales impact, mass production preparation costs for new products, and actuarial differences in retirement benefits.
-JPY 3,367 million （-49.5%）
Japan
10,004
10,251
589 77
Consolidation adjustment
North
America
546
Operating profit increased due to a decrease in development costs compared to the previous fiscal year and the higher sales impact in Indonesia.
+JPY 2 million（+0.5%）
ASEAN
Operating profit increased due to the higher sales impact in the U.S. and positive exchange rate effects on the back of the appreciation of MXN in Mexico.
+JPY 2,649 million（+89.6%）
North America
6,797
Japan
FY2024 FY2025
3,429
5,607
Consolidation adjustment
-196
A return to profitability was achieved through cost improvements focused on quality
control.
+JPY 176 million
(Operation loss of 98 million yen for the previous year)
China and Korea
-98
FY2024 FY2025
FY2025 Full-year Results by Segment (Year on Year)
Financial Forecasts for Fiscal 2026
©DaikyoNishikawa Corporation All rights reserved.
P.9
Assumptions
Production units/ Operating conditions
Exchange rate
assumption
Raw material procurement risk
Naphtha Price Fluctuations
・Based on customer production trends and operating conditions, we have set model mix, unit price, etc., based on our own judgment.
・1 USD = 151 JPY
・At this time, we are assuming that there will be no impact on production while continuing to monitor
procurement status daily with our suppliers.
・Factors that can be identified at this time, such as price increase requests from suppliers, have already been factored in.
・It is assumed that the impact will not be significant because the Company has been adjusting selling prices to reflect changes in naphtha prices (naphtha slide) with customers, and the adjustment can be passed on to sales prices to a certain extent.
・We have already factored in the impact of the currently expected time lag in price reflection.
・May be temporarily affected in the event of sharp price fluctuations.
Items not yet factored in
・Factors that make it difficult to reasonably foresee future developments have not been reflected in the earnings forecast. If these risks materialize, they may have an impact on the Group's financial results.
Assumptions
・Sales and profits are expected to decrease due to the latest production and exchange rate trends, rising raw material costs, increase in mass production preparation costs for new products, etc.
・We will work to eliminate all waste, strengthen cost competitiveness, and improve profitability to recover our financial performance.
(Millions of yen)
FY2025 results | FY2026 forecasts | |||||||
2Q | Full year | 2Q | Year on Year change | Full year | Change from previous period | |||
Changes | Rate of change | Changes | Rate of change | |||||
Net sales | 81,697 | 165,706 | 81,300 | -397 | -0.5% | 161,800 | -3,906 | -2.4% |
Operating profit | 4,835 | 10,251 | 4,600 | -235 | -4.9% | 8,800 | -1,451 | -14.2% |
Operating profit margin | 5.9% | 6.2% | 5.7% | -0.2pts | 5.4% | -0.8pts | ||
Ordinary profit | 5,235 | 10,709 | 4,500 | -735 | -14.1% | 8,700 | -2,009 | -18.8% |
Net Profit | 3,895 | 8,661 | 3,300 | -595 | -15.3% | 9,200 | +539 | +6.2% |
Exchange rate (vs. U.S. dollar) | Full-year results: 149.71 yen | Full-year forecast: 151 yen | ||||||
Dividends per share (DPS) | Annual results：¥52 per share (¥19 interim / ¥33 year-end) | Annual forecast：¥57 per share (¥28 interim / ¥29 year-end) | ||||||
Summary
Product sales
Tool sales
Anticipate a decrease in the unit price due to a decline in customer production volume in Mexico and Thailand, as well as an impact on product mix. Anticipate a decline in sales due to the inclusion of sales of components for products that began mass production in the previous period.
△ 2,375
△ 1,742
△ 331
＋542
(Millions of yen)
-2,375
・Number of units produced Global Mazda +0.3%
Domestic Daihatsu -10.4%
・Other OEM production volume decreases
・A decline in unit price caused
by product mix
-1,742
・North America: -2.0 billion yen
・ASEAN: -300 million yen
・China and Korea: +500 million yen
-331
・Decline in prototype sales
+542
・Impact of yen conversions
North America: +590 million yen ASEAN: +160 million yen
China and Korea: +150 million yen
・Impact of exchange rate in Mexico
-360 million yen
161,800
Y on Y change -3,906
165,706
FY2025
Net sales
Product sales Tool sales Other sales Impact of exchange rate FY2026
Net sales
（Results） （Forecast）
Summary
Volume and product mix | In addition to the impact of lower sales, we have incorporated the impact of the current situation in the Middle East. |
Cost improvement | Transform the Company into a robust earnings structure by steadily implementing cost improvements that exceed the previous fiscal year. |
（百万 円）
+2700
(Millions of yen)
+2,289
・Impact of lower sales:
-1.25 billion yen
・-Impact of the Middle East:
-630 million yen
・Recovery of previous year's
one-time expenses:
-410 million yen
・Boosting the efficiency of manufacturing operations
・Energy-saving activities
+211
△1,494
10,251
8,800
-2,289
+2,700
-1,494
Y on Y change -1,451
・For new orders received in the previous year
・Implementation of a production management system
・Mass production launch
・Impact of yen conversions: +70 million yen
・Impact of exchange rate in Central America:
-390 million yen
△259
-259
-321
・Increase in costs related to information systems
FY2025 | Volume and | Cost improvement | Launch costs | Depreciation | Impact of | Other costs | FY2026 |
Operating profit | product mix | expenses | exchange rate | Operating profit |
（Results） （Forecast）
FY2026 Operating Profit Increase/Decrease Factors (Year on Year)
Net sales
-JPY 3,906 million
(Millions of yen)
Operating profit
-JPY 1,451 million
- Major factors behind changes in operating profit
101,305
100,600
44,000
46,859
10,878
6,663
China and Korea
ASEAN
North America
165,706
161,800
589
8,800
290
54677
3,429
2,900
5,200
480
5,607
8,000
9,200 Consolidation
adjustment
Operating profit decreased mainly due to higher raw material costs and
increased expenses for preparing mass production of new products.
-JPY 529 million（-15.4%）
Japan
10,251
ASEAN | -JPY 66 million（-12.1%） |
Profit decreased due to lower production volume in Thailand and Indonesia. | |
Operating profit decreased due to a decrease in production volume in Mexico and
the impact of foreign exchange rates, despite an increase in sales in the U.S.
-JPY 407 million（-7.3%）
North America
China and Korea | +JPY 213 million（+276.6%） |
A return to profitability is expected to be achieved due to an increase in mold sales in China. | |
Japan
FY2025 FY2026
-70
FY2025 FY2026
Consolidation adjustment
Dividend Policy
A minimum consolidated dividend on equity (DOE) of 4.0% and a target consolidated dividend payout ratio of around 40%.After changes（Announced in May 2026）
A minimum consolidated dividend on equity (DOE) of 3.0% and a target consolidated dividend payout ratio of around 30%.
Before changes
Purchase of treasury stock
Execute as appropriate in light of financial conditions and medium-to long-term demand for funds.
100
80
60
40
20
0
100.0%
0.0%
-100.0%
-200.0%
-300.0%
-400.0%
1株当たり期末配当金（円）
1株当たり中間配当金（円）連結配当性向（%）
DOE（%）
Dividends / DOE / Dividend Payout Ratio
411.2%
39.3%
200.0%
39.4%
2.8%
2.9%
30
15
15
FY2022
32
17
15
FY2023
3.0%
36
19
17
FY2024
41.2%
4.0%
52
33
* FY2023 year-end dividends per share include a commemorative dividend of 2 yen.
40.8%
57
29
19
FY2025
28
FY2026
（Forecast）
▼Implement share buybacks
Class of shares acquired: | Common shares |
Total number of shares acquirable： | 2,850,000 shares（upper limit） |
Total amount of share acquisition costs: | 2,000 million yen（upper limit） |
Acquisition period (on a trade date basis): | From May 14,2026 to September 30,2026 |
≪ Capital investment≫ ≪ Depreciation expenses≫ ≪ R&D expenses≫
FY2026 forecast
Plans to prepare for mass production of new ordered products and update facilities for more efficient manufacturing
FY2026 forecast
Planning to spend 12.2 billion yen on the introduction of a production management system and the start of mass production.
FY2026 forecast
Expanding development investment to support new vehicle models and strengthen future product competitiveness.
2.7
3.6
3.1
（Results）
2.4
2.8
3
Breakdown of FY2026
Renewal of facilities and improvement of efficiency, etc. | 13.8 billion yen |
ESG related | 1.6 billion yen |
Others | 900 million yen |
(Billions of yen) (Billions of yen)
10.9
（Forecast as
(Billions of yen)
9
9.5
（Forecast as of Feb.12）
16.3
9.3
（Results）
4.8
8.2
16.3
of Feb.12）
10.8
11.8
11.3
12.2
10.7
（Results）
・Increase in the
U.S. plant
10.8
FY21 FY22 FY23 FY24 FY25 FY26
FY21 FY22 FY23 FY24 FY25 FY26
FY21 FY22 FY23 FY24 FY25 FY26
(Forecast) (Forecast) (Forecast)
[Important Information]This presentation material contains certain statements describing the future plans, strategies, and performance of DaikyoNishikawa Corporation and its consolidated subsidiaries. These statements are not based on historical or present fact, but rather assumptions and estimates based on information currently available. These future plans, strategies, and performances are subject to known and unknown risks, uncertainties, and other factors. DaikyoNishikawa Corporation's actual performance, business activities, and financial position may differ materially from the assumptions and estimates provided on account of the risks, uncertainties, and other factors. The information contained on this presentation should not be considered as an offer, or solicitation, to deal in any of the investments or funds.
[Contact] DaikyoNishikawa Corporation Corporate Planning DepartmentIR Group
Phone: +81-82-493-5610
Appendix
Summary
Compared to the third quarter, net sales were roughly flat, and operating profit decreased in the fourth quarter.
Net sales | Although the customer's production volume decreased in Mexico, the increase in the production volume of a major customer in China and the recording of sales of tools resulted in flat sales. |
Operating profit | Decreased due to the recognition of one-off cost recovery in the third quarter. |
Ordinary profit | Decreased due to lower operating profit, commission expenses, etc. |
Net profit | Decreased due to lower ordinary profit, although income taxes decreased as taxable income decreased due to the impact of inflation adjustment. |
(Million yen)
FY2024 | FY2025 | Change FY25Q4/FY25Q3 | Rate of change FY25Q4/FY25Q3 | |||||||
Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | |||
Net sales | 40,568 | 42,930 | 41,835 | 43,226 | 42,092 | 39,604 | 41,999 | 42,009 | ＋9 | +0.0% |
Operating profit | 2,675 | 3,016 | 1,156 | 3,156 | 2,713 | 2,121 | 3,112 | 2,303 | -808 | -26.0% |
Operating profit margin | 6.6% | 7.0% | 2.8% | 7.3% | 6.4% | 5.4％ | 7.4% | 5.5% | -1.9pts | |
Ordinary profit | 3,357 | 1,975 | 1,292 | 3,062 | 2,873 | 2,362 | 3,262 | 2,211 | -1,051 | -32.2% |
Net profit | 2,331 | 922 | 575 | 2,668 | 1,997 | 1,898 | 2,501 | 2,264 | -236 | -9.4% |
©DaikyoNishikawa Corporation All rights reserved. P.19
FY2025 Consolidated Financial Results (Quarterly Trends)
©DaikyoNishikawa Corporation All rights reserved.