Nippon Air Conditioning Services Co., Ltd.
4658・Prime Market・Services
Governance
As a company with a Board of Corporate Auditors, the company is composed of 7 directors (including 3 outside directors) and 4 corporate auditors (including 2 outside corporate auditors). A Nomination Advisory Committee and a Compensation Committee (established in September 2024) have both been established with outside directors serving as chair, aiming to strengthen independence and objectivity.
Risk Management
The Risk Management Committee meets twice a year to identify and evaluate factors that could impede management targets and to monitor risk progress. The identification, evaluation, and management of sustainability-related risks and opportunities are carried out as appropriate at the Board of Directors and Management Meetings, which are held monthly.
Shareholder Returns
Basic policy is progressive dividends, targeting a consolidated payout ratio of 50% and DOE of 7.5%. The annual dividend for FY2026 (ending March 2026) is ¥54 per share (interim ¥23 + year-end ¥31), with a payout ratio of 50.6%. The forecast for FY2027 (ending March 2027) is ¥57 (interim and year-end ¥28.50 each). Share buybacks may be conducted flexibly.
Dividend Policy
The basic policy is to implement progressive dividends, maintaining a consolidated payout ratio of 50%. Together with the ROE target of 15%, the company aims to achieve sustainable profit distribution targeting a DOE of 7.5%. Dividends are paid twice a year: an interim dividend (resolved by the Board of Directors) and a year-end dividend (resolved at the general shareholders' meeting). Actual results for FY2026 (ending March 2026) were an annual dividend of ¥54 (interim ¥23 + year-end ¥31), with a payout ratio of 50.6%. The forecast for FY2027 (ending March 2027) is an annual dividend of ¥57 (interim and year-end ¥28.50 each), with a forecast payout ratio of 50.7%. When no investment opportunities are expected to contribute to expanding a positive equity spread, the company will optimize its capital structure through share buybacks and other measures while maintaining an equity ratio of approximately 50–60%.
ESG
Climate change disclosures based on TCFD recommendations were made in April 2025. Based on SBT certification, the company has set targets to reduce Scope 1 and 2 emissions by 42% or more and Scope 3 emissions by 25% or more by FY2030 (versus FY2023 levels). On the human capital front, the Technology & Training Center was completed in November 2024 to strengthen talent development, and the company discloses a 5.9% ratio of women in management positions and a 59.3% rate of male employees taking childcare leave.
Last updated: June 22, 2026