NIPPO LTD.
9913・Standard Market・Wholesale Trade
Electronics
A specialty trading company and fabless manufacturer business capturing generative AI-related demand
| Period | Current | Previous | Change |
|---|---|---|---|
| Net Sales (FY2025, ending March 2025, full year) | ¥20,838 million | ¥18,849 million | ↑ |
| Segment Profit (FY2025, ending March 2025, full year) | ¥1,532 million | ¥1,272 million | ↑ |
| Segment Assets (as of FY2025 year-end) | ¥9,841 million | ¥8,932 million | ↑ |
| Depreciation (FY2025, ending March 2025, full year) | ¥134 million | ¥126 million | ↑ |
| Order Backlog (as of FY2025 year-end) | ¥1,530 million | ¥1,415 million | ↑ |
Business Details
As a specialty trading company and fabless manufacturer, this segment sells High-Performance Materials, Processed Parts, Jigs & Tools, Equipment, etc. to electronic component and housing equipment-related manufacturers both domestically and overseas. The main affiliated companies consist of the Company and 6 consolidated subsidiaries. The segment has both merchandise sales and product sales; in the fiscal year under review (FY2025, ending March 2025), merchandise sales were ¥17,259 million and product sales were ¥3,517 million. Growth in demand for generative AI-related servers has driven revenue for wiring board materials, along with the Wafer Polishing Carriers business at the Okinawa plant.
Recent Overview
Continued increase in both revenue and profit, with cumulative Q3 net sales of ¥15,829 million and segment profit of ¥1,292 million
For the cumulative nine months of FY2026 (ending March 2026) (April-December 2025), net sales were ¥15,829 million (up 0.6% year on year), and segment profit was ¥1,292 million (up 4.3% year on year). While sluggish orders for smartphone-related components and unprofitability of the Dry Film business at the Thailand (Korat) plant continued, orders for functional materials and precision-processed components remained solid against the backdrop of generative AI-related semiconductor demand, securing a profit increase. The full-year earnings forecast (net sales of ¥45,500 million, operating profit of ¥2,000 million) remains unchanged.
Key Products
Growth Drivers
- Increased orders for wiring board materials and functional materials driven by expanding demand for generative AI-related servers
- Solid order trends in the Wafer Polishing Carriers business at the Okinawa plant
- Continued demand for precision-processed components for manufacturing processes (semiconductor-related)
- Accumulation of future demand driven by a 9.9% year-on-year increase in orders received (¥20,890 million) and an 8.1% year-on-year increase in order backlog (¥1,530 million)
Risks
- Continued sluggish orders for smartphone-related components, with unclear prospects for recovery
- The Dry Film business at the Thailand (Korat) plant has not yet reached profitability, with ongoing burden from upfront costs
- Risk of spillover effects on the electronic components supply chain from U.S. tariff policy
- An impairment loss of ¥370 million was recorded in FY2025 (ending March 2025) related to business assets including the Thailand (Korat) plant, making improvement of asset efficiency a challenge
Last updated: June 19, 2026