February 12, 2026
Name: Nakanishi Inc. Stock listing: Tokyo Stock Exchange : Standard Market Code Number: 7716 URL: http://www.nsk-nakanishi.co.jp
Representative: Eiichi Nakanishi, President and Group CEO
Inquiries: Daisuke Suzuki, Corporate Vice President and Group CFO Tel: +81-289-64-3380 Scheduled date to submit Securities Report: March 30, 2026
Scheduled date to begin dividend payments: March 27, 2026 Supplementary materials to financial statements: Available
Earnings results briefing: Applicable (for institutional investors and securities analysts)
(All amounts are rounded down to the nearest million yen.)
Consolidated financial results for Fiscal year period (January 1 to December 31, 2025)
(1) Operating Results
Millions of yen
Net sales Operating income Ordinary income
Fiscal year ended December 31, 2025
81,179
5.4%
14,089
-3.5%
16,933
-2.0%
Fiscal year ended December 31, 2024
77,041
29.1%
14,596
2.4%
17,283
0.5%
(yen)
Income attributable to owners of parent
Earnings per share Diluted EPS (yen)
Fiscal year ended December 31, 2025
-2,398
-
-28.70
-
Fiscal year ended December 31, 2024
8,577
-62.4%
101.37
101.06
Notes: 1. Percentage figures for net sales, operating income, ordinary income and net income represent year-on-year comparisons.
Comprehensive income for reporting period:
Fiscal year ended December 31, 2025 -77 million (-%)
Fiscal year ended December 31, 2024 14,285 million (-44.1%)
(2) Financial Position
Millions of yen
Total assets Net assets
Equity ratio
As of December 31, 2025 160,155 114,074 71.0%
As of December 31, 2024 158,299 121,199 76.3%
Note: Ownersʼ equity As of December 31, 2025 113,678 million
As of December 31, 2024 120,822 million
2. Dividends
Cash dividends per share (yen)
1st quarter
2nd quarter 3rd quarter Year-end
Annual
Year ended December 31, 2024
-
26.00 ̶ 26.00
52.00
Year ending December 31, 2025
-
26.00 ̶ 28.00
54.00
Year ending December 31, 2026 (forecast)
-
30.00
-
30.00
60.00
-
Business Performance Forecasts for the Current Term (January 1 to December 31, 2026)
Millions of yen
Net sales
Operating
income Ordinary income
Income attributable to owners of parent
Earnings per share (yen)
First-half period
43,734
11.6
7,318 -3.5
7,330
5.8
5,246
49.5
62.79
Full year
88,180
8.6
15,642 11.0
15,486
-8.5
10,943
-
130.98
Notes: 1. Percentage figures represent year-on-year comparisons.
-
Others
Changes in the scope of consolidation during the period Inclusion: None
Exclusion: None
Application of special accounting methods in the preparation of consolidated financial statements: Not applicable
Changes in accounting principles, accounting estimates, and restatement
Changes in accounting principles due to revision of accounting standards, etc.: Applicable
Changes in accounting principles other than 1: Not applicable
Changes in accounting estimates: Not applicable
Restatement: Not applicable
Number of ordinary shares outstanding at the end of the period (including treasury stock) As of December 31, 2025: 93,418,200 shares
As of December 31, 2024: 93,418,200 shares
Number of shares of treasury stock at the end of the period As of December 31, 2025: 10,373,418 shares
As of December 31, 2024: 8,961,118 shares
Average number of shares during the period
Fiscal year ended December 31, 2025: 83,553,416 shares
Fiscal year ended December 31, 2024: 84,619,997 shares
* This flash report is out of scope of audit.
Table of Contents
Qualitative Information on Financial Results 4
Explanation of Results of Operations 4
Explanation of Financial Position 4
Explanation of Cash flows 5
Future Outlook 5
Consolidated Financial Statements and Principal Notes 6
Consolidated Balance Sheets 6
Consolidated Statements of Income and Comprehensive Income 8
(Consolidated Statements of Income) 8
(Consolidated Statements of Comprehensive Income) 9
Consolidated Statements of Changes in Net Assets 10
Consolidated Statements of Cash Flows 12
Notes to Consolidated Financial Statements 14
(Notes to Going Concern Assumption) 14
(Segment Information） 15
Qualitative Information on Financial Results
Explanation of Results of Operations
In the world economy during this fiscal year, the USA continues to grow moderately, but due to the impact of uncertainty of inflation and political policy, businesses and consumers are feeling uneasy. In Europe, the economy is recovering, but sluggish performance in major countries such as Germany and France, geopolitical risk, and unclear political policies lead to a bottleneck in economy growth.
In Japanese economy, investment is growing steadily, but consumption is weak. Due to inflation, the economy remains slow.
Under these circumstances, All 4 segment sales increased. EBITDA, operating income, ordinary income increased and income attributable to owners of parent decreased.
As a result, the Group sales were ¥81,179,143 thousand (+5.4% year on year), EBITDA 19,899,423 thousand (-2.7%), operating income was ¥14,089,536 thousand (-3.5%), ordinary income was
16,933,969 thousand (-2.0%) and loss attributable to owners of parent was ¥2,398,213 thousand (8,577,872 thousand, year on year).
The following is a breakdown of business performance by segment.
（Dental segment）
In Dental segment, Domestic, North America and Asia sales decreased but Europe sales increased. Total sales increased. Segment EBITDA increased and segment operating income decreased.
As a result, sales were 48,197,285 thousand (+3.6%), segment EBITDA was 19,238,663 thousand (-0.5%) and segment operating income was 16,852,762 thousand (-1.3％).
（DCI segment）
In DCl segment, Sales to DSOs (Dental Service Organizations) leveled off but sales increased. Segment EBITDA increased and segment operating income decreased.
As a result, sales were 20,538,007 thousand (+3.6%), segment EBITDA was 1,866,563 thousand (-23.7%) and segment operating loss was 490,483 thousand (90,106 thousand, year on year).
(Surgical segment)
In Surgical segment, Domestic, North America, Europe and Asia sales increased. Total sales increased. Segment EBITDA and segment operating income increased as well.
As a result, sales were 5,537,559 thousand (+28.1%), segment EBITDA was 2,837,091 thousand (+19.2%) and segment operating income was 2,667,290 thousand (+18.5％).
（Industrial segment）
In Industrial segment, Domestic and Europe sales decreased but North America and Asia sales increased. Total sales increased. Segment EBITDA and segment operating income decreased.
As a result, sales were 6,906,290 thousand (+2.5%), segment EBITDA was 1,180,483 thousand (-17.7%) and segment operating income was 817,321 thousand (-1.0％).
Explanation of Financial Position (Assets, liabilities and net asset)
Total assets at the end of Fiscal year were 160,155,463 thousand and increased by 1,855,920 thousand compared with the end of the previous fiscal year. The main reasons were that Cash and deposits increased by 15,266,774 thousand and Buildings and structures increased by 2,348,840 thousand but decreased Goodwill by 15,998,745 thousand.
Total liabilities were 46,081,022 thousand and increased by 8,980,841 thousand compared with the end of the previous fiscal year. The main reasons were that Long-term borrowings (including Current
portion of long-term borrowings) by 14,192,705 thousand but Short-term borrowings decreased by
6,148,430 thousand.
Net asset was 114,074,441 thousand and decreased by 7,124,920 thousand compared with the end of the previous fiscal year. The main reasons were that Retained earnings decreased by ¥6,547,017 thousand but Treasury shares increased by ¥2,921,187 thousand.
Explanation of Cash flows
The balance of cash and cash equivalents on a consolidated basis as of the end of the fiscal year was
¥45,964,061 thousand, up ¥10,740,004 thousand from the previous term-end.
Cash flows from operating activities were ¥16,649,420 thousand, compared with ¥15,302,565 thousand a year earlier. The main factor here was an increase of cash due to the recording of Profit before income taxes of ¥3,278,621 thousand, which outweighed Income taxes paid of ¥-5,721,196 thousand.
Cash flows from investing activities were ¥-8,682,539 thousand, compared with ¥-7,941,650 thousand a year earlier. The main expenditure was that Purchase of property, plant and equipment ¥-4,394,084 thousand.
Cash flows from financing activities were ¥679,155 thousand, compared with ¥598,510 thousand a year earlier. The main income was Proceeds from long-term borrowings ¥18,000,000 thousand. The main expenditure was Repayments of short-term borrowings ¥-13,500,000 thousand.
Future Outlook
Regarding the future outlook, it is expected that unclear business circumstances will continue because CPI is still rising and the trade war between US and China may happen.
Under such severe business environment, our group will promote comprehensive efforts to enhance the organizational structure which enables us to survive fierce global competition, keeping a close look on the conditions of the global economy and markets.
The amount | % | |
Sales | 88,180 million | 8.6 |
EBITDA | 20,640 million | 3.7 |
Operating income | 15,642 million | 11.0 |
Ordinary profit | 15,486 million | -8.5 |
Net income attributable to owners of parent | 10,943 million | - |
For fiscal year 2026, we have assumed an exchange rate of 150 to U.S. dollar and 170 to Euro. The following table shows our forecasts of business performance for the fiscal year 2026.
(Note) Percentage figures represent year-on-year comparisons.
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