NICHIAS CORPORATION
5393・Prime Market・Glass & Ceramics Products
Plant Construction & Sales
NICHIAS's core segment handling construction work and sealing material sales for power and petrochemical plants
| Period | Current | Previous | Change |
|---|---|---|---|
| Net sales (full year, FY2026 (ending March 2026)) | ¥79,503 million | ¥78,456 million | ↑ |
| Segment profit (full year, FY2026 (ending March 2026)) | ¥11,982 million | ¥12,504 million | ↓ |
| Segment profit margin (full year, FY2026 (ending March 2026)) | 15.1% | 15.9% | ↓ |
| Order intake (full year, FY2026 (ending March 2026)) | ¥84,087 million | ¥83,061 million | ↑ |
| Segment assets (as of fiscal year-end, FY2026 (ending March 2026)) | ¥47,358 million | ¥45,615 million | ↑ |
Business Details
This segment provides design, construction, and maintenance services for insulation, cold insulation, fireproofing, soundproofing, and disaster prevention construction at various plants in the power generation, oil refining, and petrochemical industries, while also selling Sealing Materials for Plant Equipment (gaskets, packing), Inorganic Fiber Insulation Materials, and Fluororesin Products. Its strength lies in maintaining a resident presence at plant facilities nationwide, with core infrastructure operators in oil refining, petrochemicals, nuclear power, and LNG as key customers. Domestic and overseas affiliated companies such as Nichias Engineering Service Co., Ltd., Shin Nippon Netsugaku Co., Ltd., and THAI NICHIAS ENGINEERING CO., LTD. handle the business operations.
Recent Overview
Sales and profit increased on solid oil refining and petrochemical demand but decreased profit due to lower nuclear-related work
Full-year net sales for FY2026 (ending March 2026) came to ¥79,503 million (up 1.3% year on year), securing an increase in sales. While demand remained solid, driven mainly by oil refining and petrochemical customers, construction work for nuclear power declined. Segment profit decreased to ¥11,982 million (down 4.2% year on year), with the profit margin declining from 15.9% to 15.1%. Order intake continued to trend solidly at ¥84,087 million (up 1.2% year on year), maintaining a favorable leading indicator. Steady performance is expected across each segment in FY2027 (ending March 2027).
Key Products
Growth Drivers
- Continued equipment maintenance investment aimed at stable plant operations in the oil refining and petrochemical fields
- Increase in construction work related to new renewable energy power generation facilities and the restart of nuclear power plants in line with the government's goal of achieving carbon neutrality by 2050
- Order intake of ¥84,087 million (up 1.2% year on year), with leading indicators remaining solid
- Capturing ongoing maintenance demand by leveraging a resident presence at plant facilities nationwide
- Productivity improvement and enhanced competitiveness through labor-saving construction methods, product development, and DX promotion
Risks
- Risk of fluctuation in nuclear-related construction work (nuclear-related construction declined in FY2026 (ending March 2026), pressuring profit)
- Long-term shrinking trend in the domestic market (structural decline in plant demand due to population decline)
- Risk of increased costs to address labor shortages and work-style reform
- Risk of reduced capital expenditure in the oil refining and petrochemical fields due to decarbonization
- Risk of restrained capital expenditure across the manufacturing industry due to the impact of U.S. trade policy (tariffs)
Last updated: June 24, 2026