(Stock code: 1982)
Earnings Announcement for the First Three Quarters of FY3/25
February 13, 2025
Financial Highlights (consolidated)
- As each financial figure is on track largely as planned, the full-year earnings forecast (announced on May 14, 2024) remains unchanged.
- Orders received is expected to secure the full-year forecast level thanks to orders for large projects in the second half (particularly in the fourth quarter).
- Although net sales have grown steadily up to the third quarter, there is a risk of extension of the construction period arising from delays in the construction process toward the end of the current fiscal year.
- Profits are healthy due to higher earnings at the time of receiving orders, streamlined construction, income from the sale of
cross-shareholdings, etc., with landing figures aiming to beat the forecast.
2022/12 | 2023/12 | 2024/12 | YoY | YoY (%) | |
Orders | 62.4 | 79.0 | 57.9 | -21.1 | -26.7％ |
received | |||||
Net sales | 51.2 | 54.0 | 56.7 | +2.7 | +5.0％ |
Gross profit | 9.0 | 8.3 | 10.1 | +1.8 | +22.1% |
Gross profit | 17.6% | 15.4% | 17.9% | +2.5% | － |
ratio | |||||
Operating | 2.9 | 1.9 | 3.5 | +1.5 | +78.2％ |
profit | |||||
Ordinary | 3.5 | 2.6 | 4.1 | +1.4 | +55.1% |
profit | |||||
Profit | 2.4 | 1.8 | 3.1 | +1.2 | +65.8％ |
attributable to | |||||
owners of parent | |||||
3/2023 | 2024/3 | 2025/3 |
Forecast | ||
Actual | Actual | |
(Full year) | ||
(Full year) | (Full year) | |
Announced on | ||
May 14, 2024 | ||
87.3 | 105.5 | 88.5 |
83.9 | 83.7 | 91.0 |
15.1 | 14.9 | 15.3 |
18.0％ | 17.8％ | 16.8% |
5.9 | 5.7 | 5.9 |
6.6 | 6.4 | 6.6 |
4.6 | 4.8 | 4.6 |
1
Orders Received (1): By Customer and By Category (consolidated)
- Orders, mainly for private sector and air conditioning projects, have been received in a strategic, or controlled, manner up to the third quarter. In the fourth quarter, orders for large private sector and air conditioning projects are expected.
90.0 | By customer | (Billion yen) | ||
79.0 | ||||
80.0 | ||||
7.6 | ||||
70.0 | ||||
62.4 | 57.9 | |||
60.0 | 6.6 | |||
40.5 | 6.3 | |||
50.0 | ||||
22.6 | 19.1 | |||
40.0 | ||||
3.5 | 0.7 | 4.2 | ||
30.0 | ||||
20.0 | ||||
29.6 | 30.0 | 28.2 | ||
10.0 | ||||
0.0 | ||||
2022/12 | 2023/12 | 2024/12 | ||
NTT Group Public sector Private sector Other*
90.0 | By category | (Billion yen) | ||
79.0 | ||||
80.0 | ||||
7.6 | ||||
70.0 | ||||
62.4 | 16.2 | 57.9 | ||
60.0 | ||||
6.6 | 6.3 | |||
50.0 | 11.3 | |||
13.4 | 8.7 | |||
40.0 | ||||
13.6 | 11.2 | |||
30.0 | ||||
41.7 | ||||
20.0 | 30.8 | 31.6 | ||
10.0 | ||||
0.0 | ||||
2022/12 | 2023/12 | 2024/12 | ||
Air conditioning Plumbing and sanitation Electrical Other*
* Orders received by consolidated subsidiaries 2
Orders Received (2): By Facility Category (non-consolidated)
- Orders for data centers are gradually increasing. In the fourth quarter, orders for large private data centers are expected to continue.
- Full-yearorders for data centers are expected to exceed the results of the previous fiscal year.
80.0
Data centers/Information | 70.0 |
Office buildings | 60.0 |
50.0 | |
Manufacturing/Distribution | |
40.0 | |
Education/Health care | 30.0 |
20.0 | |
Hotels/Resorts | |
10.0 |
Other | 0.0 |
Trend in orders received (non-consolidated) | (Billion yen) |
71.3 |
55.8 | 51.5 |
34.5 | |
28.7 | |
32.6 |
31.0 | ||||||||||
15.5 | ||||||||||
3.6 | 1.3 | 3.5 | 11.4 | |||||||
2.1 | 0.5 | 3.4 | 2.9 | 0.2 | ||||||
5.1 | 0.6 | 0.3 | 0.7 | |||||||
2022/12 | 2023/12 | 2024/12 | 3 | |||||||
Orders Received (3): Percentage of Orders Received that are
New Construction and Renovation (non-consolidated)
- While renovation projects have been our mainstay up until the third quarter, orders for large new construction projects are expected from the private sector in the fourth quarter.
- The full-year percentage of new construction is expected to be higher than the percentage of the third
quarter.
Renovation
New construction
80.0
70.0
60.0
50.0
40.0
30.0
20.0
10.0
0.0
Trend in the percentage of orders received that are new | |
construction and renovation (non-consolidated) | (Billion yen) |
71.3
55.8 | 37.1 | 51.5 |
(52.0%) | ||
34.4 | ||
(61.7%) | 35.5 | |
(69.0%) | ||
34.2 | ||
21.3 | (48.0%) | 16.0 |
(38.3%) | ||
(31.0%) | ||
2022/12 | 2023/12 | 2024/12 | 4 |
* Starting with disclosure materials for FY2024, expansion and remodeling are included in renovation projects. |
Net Sales (1): By Customer and By Category (consolidated)
- Steady progress was recorded in construction projects in the private sector and in the plumbing and sanitation category.
By customer | (Billion yen) | ||||||||||
60.0 | |||||||||||
54.0 | 56.7 | ||||||||||
51.2 | 6.1 | ||||||||||
7.6 | |||||||||||
50.0 | 6.5 | ||||||||||
40.0 | |||||||||||
20.9 | 25.3 | ||||||||||
20.2 | |||||||||||
30.0 | |||||||||||
3.2 | 1.5 | 2.2 | |||||||||
20.0 | |||||||||||
21.2 | 23.9 | 23.0 | |||||||||
10.0 | |||||||||||
0.0 | |||||||||||
2022/12 | 2023/12 | 2024/12 | |||||||||
NTT Group | Public sector | Private sector | Other* | ||||||||
By category | (Billion yen) | ||
60.0 | |||
54.0 | 56.7 | ||
51.2 | 6.1 | ||
7.6 | |||
50.0 | 6.5 | 8.1 | |
40.0 | 8.4 | 9.9 | |
13.5 | |||
30.0 | 9.9 | 11.6 | |
20.0 | |||
26.3 | 24.8 | 28.8 | |
10.0 | |||
0.0
2022/12 2023/12 2024/12
Air conditioning Plumbing and saniation Electrical Other*
* Sales earned by consolidated subsidiaries 5
Net Sales (2): By Facility Category (non-consolidated)
- Steady progress was made in construction projects related to data centers, office buildings and hotels.
60.0
Data centers/Information
50.0
Office buidings
40.0
Manufacturing/Distribution
30.0
Education/Health care
20.0
Hotels/Resorts
10.0
Other
0.0
Trend in net sales (non-consolidated)(Billion yen)
50.6
44.7 | 46.4 | |
20.6 | 22.1 | 26.3 |
12.4 | 11.4 | 13.1 | ||
4.8 | 5.0 | 3.3 | 1.6 | |
2.9 | ||||
3.0 | 3.9 | |||
3.3 | ||||
2.6 | 2.1 | |||
1.1 | 1.3 | |||
2022/12* | 2023/12 | 2024/12 |
* Net sales by facility category for FY2022 reflect estimates. 6
Net Sales (3): Percentage of Orders Received that are
New Construction and Renovation (non-consolidated)
- As of the third quarter, the percentage of new construction is higher than usual, reflecting the number of large new construction projects in the private sector carried over from the previous fiscal year.
60.0
Renovation
50.0
New construction 40.0
30.0
20.0
10.0
0.0
Trend in the percentage of orders received that are | |
new construction and renovation (non-consolidated) | (Billion yen) |
46.4 | 50.6 | |
44.7 | ||
28.7 | ||
28.8 | 29.0 | (56.8%) |
(62.6%) | ||
(64.5%) | ||
21.8 | ||||
15.8 | 17.3 | (43.2%) | ||
(35.5%) | (37.4%) | |||
2022/12 | 2023/12 | 2024/12 | 7 | |
* Starting with disclosure materials for FY2024, expansion and remodeling are included in renovation projects. |
Order Backlog by Customer (consolidated)
- Order backlogs continued to hover at high levels, reflecting orders for large projects in the private sector requiring long construction periods.
- Order backlogs as of the end of this fiscal year are expected to exceed those as of the end of the third quarter due to orders for large projects, etc. in the fourth quarter.
Order backlog by customer | (Billion yen) |
90.0 | 84.8 | 81.7 | 82.8 | ||||||
0.3 | |||||||||
80.0 | 0.2 | 0.4 | |||||||
70.0 | 67.7 | ||||||||
0.4 | |||||||||
59.9 | |||||||||
60.0 | 56.5 | ||||||||
53.6 | 0.3 | 50.8 | |||||||
0.3 | 57.2 | ||||||||
0.4 | 57.1 | ||||||||
50.0 | |||||||||
40.7 | |||||||||
40.0 | 30.7 | 38.4 | 37.6 | ||||||
30.0 | 8.0 | ||||||||
3.9 | 3.3 | ||||||||
2.6 | 5.9 | ||||||||
20.0 | 4.1 | ||||||||
3.6 | |||||||||
23.9 | 23.5 | ||||||||
10.0 | 19.7 | 14.1 | 22.6 | 17.7 | 18.3 | ||||
0.0 | |||||||||
2021/12 | 2022/3 | 2022/12 | 2023/3 | 2023/12 | 2024/3 | 2024/12 | |||
NTT Group | Public sector | Private sector | Other* | 8 | |||||
* Order backlog held by consolidated subsidiaries |
Order Backlog by Category (consolidated)
- Order backlogs continued to hover at high levels, reflecting orders for large projects mainly in the air conditioning category requiring long construction periods.
- Order backlogs as of the end of this fiscal year are expected to exceed those as of the end of the third quarter due to orders for large projects, etc. in the fourth quarter.
90.0 | Order backlog by category | (Billion yen) | |||||||
84.8 | 81.7 | 82.8 | |||||||
0.3 | |||||||||
0.2 | 0.4 | ||||||||
80.0 | 16.2 | ||||||||
67.7 | 13.6 | 14.1 | |||||||
70.0 | |||||||||
0.4 | 59.9 | ||||||||
60.0 | 56.5 | 11.8 | |||||||
53.6 | 0.3 | 20.0 | 22.6 | 20.3 | |||||
0.3 | |||||||||
0.4 | 9.9 | ||||||||
8.9 | |||||||||
50.0 | |||||||||
10.5 | |||||||||
19.2 | |||||||||
40.0 | 15.6 | 18.2 | |||||||
15.2 | |||||||||
30.0 | |||||||||
20.0 | 48.2 | 45.2 | 47.9 | ||||||
36.2 | |||||||||
31.6 | 31.3 | ||||||||
27.3 | |||||||||
10.0 | |||||||||
0.0 | |||||||||
2021/12 | 2022/3 | 2022/12 | 2023/3 | 2023/12 | 2024/3 | 2024/12 | |||
Air conditioning | Plumbing and sanitation | Electrical | Other* | 9 | |||||
* Order backlog held by consolidated subsidiaries | |||||||||