Nippon Seisen Co., LTD.
5659・Prime Market・Iron & Steel
Japan
The core domestic segment, accounting for approximately 89% of consolidated net sales
| Period | Current | Previous | Change |
|---|---|---|---|
| Net sales | ¥41,325 million | ¥41,479 million | ↓ |
| Segment profit | ¥2,799 million | ¥4,203 million | ↓ |
| Segment assets | ¥48,026 million | ¥47,498 million | ↑ |
| Depreciation and amortization | ¥1,369 million | ¥1,405 million | ↓ |
| Increase in property, plant and equipment and intangible assets | ¥4,755 million | ¥2,722 million | ↑ |
Business Details
This is the domestic manufacturing and sales segment operated by Nippon Seisen Co., Ltd. itself. It develops both the Stainless Steel Wire (Spring Materials, Ultra-Fine Wire, Fastener Materials, etc.) business and the metal fiber business (NASLON® Filter, Ultra-Precision Gas Filter NASclean®). Its main customers are Daido Kogyo Co., Ltd. and Metal One Corporation, and the deepening of development of high-performance, proprietary products is positioned at the core of the NSG26 medium-term management plan, driving overall Group earnings.
Recent Overview
Segment profit fell 33.4% year on year, weighed down by a sharp decline in ultra-fine wire for solar applications
In FY2026 (ending March 2026), net sales for the Japan segment were ¥41,325 million (down 0.4% year on year), roughly flat, but segment profit deteriorated significantly to ¥2,799 million (down 33.4% from ¥4,203 million in the prior period). The main cause was sluggish demand for ultra-fine wire for screen printing used in solar panels (due to continued inventory adjustments in China plus material substitution). On the other hand, the metal fiber division, including NASclean® for semiconductors, remained solid with increased revenue. The increase in fixed assets rose significantly to ¥4,755 million from ¥2,722 million in the prior period, as active investment in strengthening the production base continued.
Key Products
Growth Drivers
- Expanding demand for the Ultra-Precision Gas Filter (NASclean®) for semiconductors, AI, and data centers (further sales growth expected in FY2027, ending March 2027)
- Solid performance and expanded sales of high-performance, proprietary stainless steel wire products (for household goods and electronic components)
- Growth of the metal fiber division through the acquisition of large overseas projects for carbon fiber-related NASLON® Filter
- Improved productivity through investment in strengthening the production base, labor saving, and automation under the NSG26 medium-term management plan (increase in fixed assets of ¥4,755 million for the current period)
- Development of new markets for high-performance stainless steel wire for medical and automotive CASE applications
- Expansion into the sustainability growth field through deepening of hydrogen recovery technology
Risks
- Continued sluggish demand for ultra-fine wire for screen printing used in solar power panels (inventory adjustments in China plus ongoing material substitution to non-stainless metals)
- Risk from fluctuations in LME nickel prices (from an average of $6.88 in April-June 2025, to $6.75 in October-December, to $7.87 per pound in January-March 2026, showing sharp volatility)
- Continued sluggish demand for fastener materials for construction and civil engineering applications (sluggish trend in domestic housing starts)
- Declining profitability of general-purpose products due to intensifying competition with China / South Korea stainless steel wire manufacturers
- Decreased sales of NASLON® Filter for chemical fibers in China
- Impact on export volumes due to uncertainty in US trade policy (tariffs), causing volume fluctuations for some items
- Rising manufacturing costs including crude oil, auxiliary materials, and logistics costs (at levels difficult to absorb through self-help efforts)
Last updated: June 22, 2026