NOK Corporation
Q3/FY2024 Results
Supplemental Information
February 5, 2025
For plans, forecasts, policies, strategies, opinions, etc., of NOK group as explained in this material, those that are not historical facts are forward-looking statements about the future, which are created based on content obtained from currently available information. Factors that may affect actual results include potential risks and uncertainties such as economic conditions, market conditions, and exchange rate trends surrounding our business fields.
Therefore, please note that actual results may differ significantly from forecasts due to fluctuations in these important factors. Furthermore, although we have made every effort to ensure the accuracy of the contents explained in this material, we do not make any guarantees regarding the contents and do not assume any responsibility for losses incurred due to this material.
NOK CORPORATION 1-12-15, Shibadaimon, Minato-ku Tokyo, 105-8585 Japan
NOK Corporation Fiscal March 2025 Q3 Results Supplemental Information
- Year to Date Information 1. Consolidated Results
(billion yen) | |||||
Mar '24 | Mar '25 | YoY | Mar '24 | ||
Q3 | Q3 | FY ACT | |||
Net sales | 567.5 | 589.1 | 3.8% | 750.5 | |
Operating income | 17.6 | 31.2 | 77.2% | 22.9 | |
Operating margin (%) | 3.1% | 5.3% | 2.2pt | 3.1% | |
Ordinary income | 30.3 | 41.3 | 36.3% | 40.3 | |
Net income attributable to owners of parent | 21.1 | 28.9 | 36.9% | 31.6 |
Year on Year Fx impact for Q3YTD/Mar '25
Net sales: +23.2
Opereating income: +1.1
Previous FCST
(Nov '24) Mar '25
FY FCST 745.5
31.9
4.3%
38.7
22.8
Revised FCST
(Feb '25) Mar '25
FY FCST 755.7
35.3
4.7%
45.8
30.2
2. Net Sales and Operating Income by Segment
(billion yen) | |||||
Mar '24 | Mar '25 | YoY | |||
Q3 | Q3 | ||||
Seal | Net sales | 275.1 | 273.0 | -0.8% | |
Operating income | 16.4 | 19.0 | 16.0% | ||
OP Margin (%) | 5.9% | 6.9% | 1.0pt | ||
Electronic product | Net sales | 271.7 | 290.7 | 7.0% | |
Operating income | 0.9 | 10.3 | 997.7% | ||
OP Margin (%) | 0.3% | 3.5% | 3.2pt | ||
Other | Net sales | 20.7 | 25.4 | 22.5% | |
Operating income | 0.3 | 1.9 | 538.0% | ||
OP Margin (%) | 1.4% | 7.3% | 5.9pt | ||
3. Average Fx Rate | |||||
Mar '24 | Mar '25 | YoY | |||
Q3 | Q3 | ||||
USD | 142.70 | 152.41 | 9.71 | ||
RMB | 19.95 | 21.15 | 1.20 | ||
NTD | 4.55 | 4.73 | 0.18 | ||
THB | 4.07 | 4.32 | 0.25 | ||
4. Sales by Geographic Area | |||||
(billion yen) | |||||
Mar '24 | Mar '25 | ||||
Q3 | Q3 | ||||
Seal | Japan | 176.9 | 170.2 | ||
China | 48.4 | 51.8 | |||
Asia | 37.9 | 39.7 | |||
Other | 11.9 | 11.4 | |||
Electronic product | Japan | 22.4 | 14.4 | ||
China | 169.6 | 189.4 | |||
Asia | 55.0 | 62.4 | |||
Other | 24.7 | 24.6 | |||
Consolidated | Japan | 210.6 | 198.3 | ||
China | 223.0 | 247.3 | |||
Asia | 97.3 | 107.5 | |||
Other | 36.6 | 36.1 | |||
* Geographic area based on seller's location |
Mar '24
FY ACT 362.6
23.3
6.4%
359.8 -1.0 -0.3% 28.1 0.6 2.2%
Mar '24
FY ACT 143.74
20.08
4.59
4.09
Mar '24
FY ACT 232.2
63.9
50.3
16.1
28.4
222.5
75.1
33.9
275.9
293.3
131.3
50.0
Previous FCST
(Nov '24) Mar '25
FY FCST 363.0
23.4
6.4%
350.6
6.9
2.0%
31.9
1.6
4.9%
Previous FCST
(Nov '24) Mar '25
Oct - Mar
150.00
21.10
4.63
4.08
Previous FCST
(Nov '24) Mar '25
FY FCST 227.6
67.1
51.6
16.7
17.8
222.5
77.5
32.7
263.0
296.9
136.2
49.4
Revised FCST
(Feb '25) Mar '25
FY FCST 362.8
25.4
7.0%
359.7
7.9
2.2%
33.2
2.0
5.9%
Revised FCST
(Feb '25) Mar '25
Oct - Mar
150.00
21.10
4.63
4.08
Revised FCST
(Feb '25) Mar '25
FY FCST 227.7
67.3
52.7
15.2
18.2
230.5
79.4
31.6
264.0
305.7
139.1
46.8
Year to Date 1
5. Sales by Industry
(billion yen) | |||
Mar '24 | Mar '25 | ||
Q3 | Q3 | ||
Seal | Automobile industry | 214.7 | 210.1 |
Electronic industry | - | - | |
General industry | 60.4 | 62.9 | |
Total | 275.1 | 273.0 | |
Electronic product | Automobile industry | 66.3 | 65.3 |
Electronic industry | 205.3 | 225.4 | |
General industry | - | - | |
Total | 271.7 | 290.7 | |
Consolidated | Automobile industry | 282.5 | 278.3 |
Electronic industry | 205.3 | 225.4 | |
General industry | 79.7 | 85.4 | |
Total | 567.5 | 589.1 | |
6. Sales Breakdown by Industry/Application | |||
Seal: by Geograpic Area and Industry | |||
(billion yen) | |||
Mar '24 | Mar '25 | ||
Q3 | Q3 | ||
Japan | Automobile industry | 132.2 | 126.5 |
General industry | 44.8 | 43.7 | |
China | Automobile industry | 39.6 | 41.3 |
General industry | 8.8 | 10.5 | |
Seal total | Automobile industry | 214.7 | 210.1 |
General industry | 60.4 | 62.9 | |
* Geographic area based on seller's location | |||
Electronic Product: by Application | |||
Mar '24 | Mar '25 | ||
Q3 | Q3 | ||
Smartphone | 53% | 50% | |
Automobile | 24% | 22% | |
HDD | 9% | 11% | |
7. Capex/Depreciation |
Mar '24
FY ACT 282.4
-
80.2
362.6
88.8
271.1
-
359.8
373.5
271.1
105.9
750.5
Mar '24
FY ACT 173.4
58.8
51.7
12.3
282.4
80.2
Mar '24
FY ACT 52% 25% 10%
Previous FCST
(Nov '24) Mar '25
FY FCST 279.1
-
83.9
363.0
86.9
263.7
-
350.5
369.7
263.7
112.1
745.5
Previous FCST
(Nov '24) Mar '25
FY FCST 168.9
58.7
52.8
14.3
279.1
83.9
Previous FCST
(Nov '24) Mar '25
FY FCST 48% 25% 12%
Revised FCST
(Feb '25) Mar '25
FY FCST 277.8
-
85.0
362.8
84.2
275.5
-
359.7
365.9
275.5
114.3
755.7
Revised FCST
(Feb '25) Mar '25
FY FCST 168.2
59.5
53.0
14.2
277.8
85.0
Revised FCST
(Feb '25) Mar '25
FY FCST 49% 23% 12%
(billion yen) | |||
Mar '24 | Mar '25 | ||
Q3 | Q3 | ||
Seal | Capex | 15.7 | 17.8 |
Depreciation | 18.9 | 17.9 | |
Electronic product | Capex | 15.7 | 15.7 |
Depreciation | 16.0 | 16.1 | |
Consolidated | Capex | 33.3 | 35.8 |
Depreciation | 35.7 | 35.0 |
Previous FCST | Revised FCST | |||
(Nov '24) | (Feb '25) | |||
Mar '24 | Mar '25 | Mar '25 | ||
FY ACT | FY FCST | FY FCST | ||
22.0 | 30.2 | 30.2 | ||
25.1 | 24.0 | 24.0 | ||
20.6 | 23.4 | 23.4 | ||
21.5 | 21.8 | 21.8 | ||
45.2 | 57.6 | 57.6 | ||
47.8 | 47.3 | to | 47.3 | |
No changes | previous FCST |
Year to Date 2
8. OP year-on-year analysis
Seal business
16.4
(1.3)
4.1
+2.6 bn
0.719.0
(0.9)
FY23Q3 | Sales | Variable cost, etc | Fixed cost | Fx impacts | FY24Q3 |
Negative
Sales decrease (Partially offset by price)
Positive
Material costs Cost reduction Inventory evaluation
Positive
Depreciations
Negative
Operating / Personnel expenses
Electronic product business
9.2 | 0.8 | 0.5 | 10.3 | |||
(1.1) |
+9.4 bn
0.9
FY23Q3 | Sales | Variable cost, etc | Fixed cost | Fx impacts | FY24Q3 |
Positive
Sales increase
Positive
Yield rate Cost reduction
Positive
Depreciations
Negative
Operating/ Personnel expenses
Year to Date 3
- Quarter to Date Information 1. Consolidated Results
(billion yen) | Mar '25 | Mar '25 | Mar '25 | Mar '25 | |
Net sales | Q1 | Q2 | Q3 | Q4 | |
188.2 | 205.5 | 195.4 | |||
Operating income | 5.7 | 13.4 | 12.1 | ||
Operating margin (%) | 3.0% | 6.5% | 6.2% | ||
Ordinary income | 12.0 | 9.1 | 20.2 | ||
Net income attributable to owners of parent | 7.0 | 6.6 | 15.3 | ||
2. Net Sales and Operating Income by Segment | |||||
(billion yen) | Mar '25 | Mar '25 | Mar '25 | Mar '25 | |
Seal | Net sales | Q187.7 | Q291.4 | Q393.9 | Q4 |
Operating income | 4.5 | 6.7 | 7.8 | ||
Electronic product | OP Margin (%) | 5.1% | 7.3% | 8.2% | |
Net sales | 91.9 | 105.6 | 93.2 | ||
Operating income | 0.4 | 6.1 | 3.8 | ||
Other | OP Margin (%) | 0.5% | 5.8% | 4.1% | |
Net sales | 8.6 | 8.5 | 8.4 | ||
Operating income | 0.7 | 0.6 | 0.5 | ||
OP Margin (%) | 8.2% | 7.3% | 6.4% |
3. Average Fx Rate
USD RMB NTD THB
Mar '25 | Mar '25 | Mar '25 | Mar '25 |
Q1 | Q2 | Q3 | Q4 |
154.56 | 152.71 | 149.96 | |
21.29 | 21.13 | 21.02 | |
4.79 | 4.72 | 4.67 | |
4.21 | 4.29 | 4.46 |
4. Sales by Geographic Area
(billion yen) | |||||
Mar '25 | Mar '25 | Mar '25 | Mar '25 | ||
Q1 | Q2 | Q3 | Q4 | ||
Seal | Japan | 54.8 | 57.0 | 58.4 | |
China | 16.1 | 17.0 | 18.6 | ||
Asia | 12.6 | 13.5 | 13.6 | ||
Other | 4.2 | 3.9 | 3.3 | ||
Electronic product | Japan | 6.4 | 4.2 | 3.8 | |
China | 55.9 | 71.1 | 62.4 | ||
Asia | 20.7 | 22.3 | 19.4 | ||
Other | 9.0 | 8.0 | 7.6 | ||
Consolidated | Japan | 65.8 | 65.6 | 66.8 | |
China | 74.0 | 90.3 | 83.1 | ||
Asia | 35.2 | 37.7 | 34.6 | ||
Other | 13.2 | 11.9 | 10.9 |
* Geographic area based on sellers' location
Quarter to Date 4
5. Sales by Industry
(billion yen) | |||||
Mar '25 | Mar '25 | Mar '25 | Mar '25 | ||
Q1 | Q2 | Q3 | Q4 | ||
Seal | Automobile industry | 67.8 | 70.5 | 71.8 | |
Electronic industry | - | - | - | ||
General industry | 19.9 | 21.0 | 22.0 | ||
Total | 87.7 | 91.4 | 93.9 | ||
Electronic product | Automobile industry | 22.4 | 21.9 | 21.0 | |
Electronic industry | 69.5 | 83.7 | 72.2 | ||
General industry | - | - | - | ||
Total | 91.9 | 105.6 | 93.2 | ||
Consolidated | Automobile industry | 91.2 | 93.3 | 93.9 | |
Electronic industry | 69.5 | 83.7 | 72.2 | ||
General industry | 27.5 | 28.5 | 29.4 | ||
Total | 188.2 | 205.5 | 195.4 | ||
6. Sales Breakdown by Indusry/Application | |||||
Seal: by Geograpic Area and Industry | |||||
(billion yen) | Mar '25 | Mar '25 | Mar '25 | Mar '25 | |
Q1 | Q2 | Q3 | Q4 | ||
Japan | Automobile industry | 41.0 | 42.6 | 42.8 | |
General industry | 13.8 | 14.4 | 15.5 | ||
China | Automobile industry | 12.6 | 13.4 | 15.3 | |
General industry | 3.5 | 3.6 | 3.4 | ||
Seal segment total | Automobile industry | 67.8 | 70.5 | 71.8 | |
General industry | 19.9 | 21.0 | 22.0 | ||
* Geographic area based on sellers' location | |||||
Electronic Product: by Application | |||||
Mar '25 | Mar '25 | Mar '25 | Mar '25 | ||
Q1 | Q2 | Q3 | Q4 | ||
Smartphone | 48% | 52% | 52% | ||
Automobile | 24% | 21% | 23% | ||
HDD | 12% | 11% | 11% | ||
7. Capex/Depreciation | |||||
(billion yen) | |||||
Mar '25 | Mar '25 | Mar '25 | Mar '25 | ||
Q1 | Q2 | Q3 | Q4 | ||
Seal | Capex | 6.5 | 6.1 | 5.2 | |
Depreciation | 6.0 | 6.0 | 6.0 | ||
Electronic product | Capex | 5.6 | 5.4 | 4.7 | |
Depreciation | 5.3 | 5.4 | 5.4 | ||
Consolidated | Capex | 12.4 | 12.3 | 11.1 | |
Depreciation | 11.6 | 11.7 | 11.7 |
Quarter to Date 5
(3) Other Information
Production Volume Assumption (estimated by NOK)
Automobile production by Japanese manufactures | |||
Mar '23 | Mar '23 | Mar '23 | |
(thousand unit) | 1H | 2H | FY |
Domestic | 3,600 | 4,276 | 7,876 |
Overseas | 8,139 | 8,055 | 16,194 |
Total | 11,738 | 12,331 | 24,069 |
*Overseas numbers are sum of knockdowns and completed viechles produced overseas.
Construction machiery by Japanese manufactures | |||
Mar '23 | Mar '23 | Mar '23 | |
(unit) | 1H | 2H | FY |
70,752 | 77,740 | 148,492 |
Mar '24 | Mar '24 | Mar '24 |
1H | 2H | FY |
4,251 | 4,237 | 8,488 |
8,808 | 8,834 | 17,642 |
13,060 | 13,071 | 26,131 |
Mar '24 | Mar '24 | Mar '24 |
1H | 2H | FY |
66,529 | 60,501 | 127,030 |
FCST (Feb '25) | ||
Mar '25 | Mar '25 | Mar '25 |
1H | 2H | FY |
3,967 | 4,319 | 8,286 |
8,227 | 8,131 | 16,358 |
12,193 | 12,450 | 24,644 |
FCST (Feb '25) | ||
Mar '25 | Mar '25 | Mar '25 |
1H | 2H | FY |
54,447 | 54,805 | 109,252 |
Other Info 6