Nippon Tungsten Co., Ltd. Revises H1 FY2027 Earnings Sharply Higher

Nippon Tungsten Co., Ltd. Revises H1 FY2027 Earnings Sharply Higher

Nippon Tungsten Co., Ltd. (TSE:6998) has raised its interim earnings forecast for the six months ending September 30, 2026, citing strong operational performance and successful price pass-through amid raw material cost inflation.

The company attributed the upward revision to robust first-quarter results and favorable market conditions in target segments. China’s tightened export controls on tungsten and related raw materials triggered sharp price increases; Nippon Tungsten successfully implemented product price adjustments to preserve margins. The company also diversified sourcing away from China to meet demand, while procurement costs on a moving-average basis remained below standard cost assumptions, further suppressing cost of sales. Recent order momentum supports the elevated second-quarter profit outlook.

The interim dividend remains unchanged at JPY 30.00/share, with the year-end dividend held at JPY 60.00/share. However, the company maintained its full-year earnings guidance unchanged, signaling caution about near-term supply chain risks tied to Chinese export restrictions. International investors should note that ordinary income (keijo rieki)—a Japan-specific metric encompassing operating profit plus non-operating items—differs materially from operating profit and reflects financial income and expenses. The revision demonstrates pricing power in a constrained commodity environment, though sustained uncertainty around China policy limits visibility beyond the interim period.

Source: Original filing (TDnet) | 日本語版

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