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Nippon Shikizai cuts full-year net profit forecast 46.8% to ¥100 million

Wed, Oct 07, 2026 17:00 JST Nippon Shikizai Kogyo Kenkyusho (4920.T) Cosmetics 中文

Nippon Shikizai Kogyo Kenkyusho (4920) on Oct. 7 cut its consolidated net profit forecast for the fiscal year ending February 2027 by 46.8% to ¥100 million from ¥187 million.

FY consolidated net profit (revised)¥100 million (prev. ¥187 million)
FY consolidated operating profit (revised)¥261 million (prev. ¥394 million)
H1 consolidated net loss (revised)¥21 million (prev. profit of ¥11 million)
FY non-consolidated net profit (revised)¥10 million (prev. ¥203 million)

The revision updates forecasts issued on April 13, 2026. Full-year consolidated sales are now projected at ¥18.328 billion, roughly in line with the previous ¥18.361 billion, while earnings per share were cut to ¥49.23 from ¥90.78.

FY consolidatedPreviousRevisedChange
Net sales¥18.361 billion¥18.328 billion-0.2%
Operating profit¥394 million¥261 million-33.6%
Ordinary profit¥275 million¥116 million-57.9%
Net profit attributable to owners of parent¥187 million¥100 million-46.8%

For the first half (March-August 2026), consolidated sales were revised up 2.7% to ¥9.155 billion, but operating profit was cut 45.7% to ¥50 million, and the company now expects a net loss of ¥21 million versus a previously forecast profit of ¥11 million.

On a non-consolidated basis, full-year sales were cut 7.3% to ¥11.782 billion, ordinary profit to ¥1 million from ¥263 million, and net profit to ¥10 million from ¥203 million.

The company said orders from domestic cosmetics makers fell short of its initial forecast amid heightened tensions in the Middle East, and some large orders from overseas cosmetics makers were postponed. Higher costs for oil-derived products and other inflation were not sufficiently passed on to order prices. Orders remain weak in the third quarter, and although there are signs of recovery in the fourth quarter, third- and fourth-quarter sales are expected to fall below the first half. The Komoro plant, which began operating on Sept. 3, 2026, is currently booking costs ahead of output and will gradually raise operations.

At the consolidated level, French subsidiaries THEPENIER PHARMA & COSMETICS S.A.S. and Nippon Shikizai France S.A.S. saw pharmaceutical and cosmetics orders recover and are expected to beat forecasts. Together with the weaker yen, that lifted first-half sales above the earlier forecast, but the decline in domestic profit outweighed the French recovery.


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