Nittetsu Mining (1515) Q2 2026 earnings summary

Executive summary

• Operating profit increased year-over-year despite a decline in sales, driven by strong performances in Nonmetallic and Metallic Minerals and a significant property sale in Real Estate.

• Net sales for the six months ended September 30, 2025, were ¥93,074 million, down 2.3% year-over-year.

• Operating profit rose 60.9% year-over-year to ¥8,585 million, and ordinary profit increased 45.5% to ¥9,566 million.

• Profit attributable to owners of parent grew 15.6% year-over-year to ¥6,624 million.

• Announced a 5-for-1 share split, expansion of shareholder benefits, and cancellation of treasury stock.

Financial highlights

• Gross profit increased to ¥20,753 million from ¥17,398 million year-over-year.

• Net sales for 1H FY25 were ¥93.0B, down ¥2.2B year-over-year.

• Operating profit rose to ¥8.5B, up ¥3.2B year-over-year.

• Earnings per share for the period was ¥84.19, up from ¥68.86, reflecting a five-for-one share split.

• Copper price averaged 437.96¢/lb, up 8.07¢/lb year-over-year; JPY/USD FX averaged 146.04, a 6.59 yen appreciation.

Outlook and guidance

• FY25 full-year net sales forecast revised up to ¥196.0B, operating profit to ¥13.9B, and EPS to ¥120.74.

• Full-year net sales forecast for FY ending March 31, 2026, is ¥196,000 million, a 0.4% decrease year-over-year.

• Operating profit is projected at ¥13,900 million (up 35.5%), ordinary profit at ¥14,200 million (up 24.2%), and profit attributable to owners of parent at ¥9,500 million (up 5.3%).

• Dividend per share forecast raised to ¥48.40, reflecting a 5-for-1 stock split.

• Sensitivity: every 10¢/lb copper price increase adds ¥0.09B to OP; every 5 JPY/USD depreciation adds ¥0.07B to OP.