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EDINET 5161 Neutral Risk Analyzed 📈 Growth 3/10

NISHIKAWA RUBBER CO., LTD.

Semi-Annual Report - 78th Term(2026/04/01 - 2027/03/31) ／ 2026-11-13 16:36

Covers EDINET statutory filings (TDNET timely disclosures / earnings flashes are not included).

EarningsGuidance DownDividend UpBuybackNew ProductMarginCapacity
AI Summary 2026-11-13 16:57

Q1 revenue +7.8% (¥61,829M), operating profit +1.7% (¥4,046M). Japan model change orders and North America cost improvements contributed. However, East Asia and Southeast Asia declined. FY2027 guidance projects revenue -3.4%, OP -17.1%, net profit -40.7% (downward revision).

KEY POINTS
  • Q1 revenue +7.8%, operating profit +1.7% (Japan and North America profitable, East Asia and Southeast Asia in decline)
  • Parent company net income ¥3,226M, down 24.8% YoY (prior year included tax refund from past-period tax settlement)
  • FY2027 guidance shows significant downward revision: revenue -3.4%, OP -17.1%, net profit -40.7%
  • North America subsidiary to undertake capex for equipment renewal under 2030 Global Mid-to-Long-Term Management Plan (revised)
  • Dividend policy of ~8% DOE from FY2025 March; self-share buyback of 6% of outstanding shares over 6 years from FY2026 March underway
📊 Revenue
Revenue +7.8% (¥57,349M → ¥61,829M)
💰 Operating profit
Operating profit +1.7% (¥3,979M → ¥4,046M)
🔮 Outlook
FY2027 outlook: revenue -3.4%, OP -17.1%, net profit -40.7% (downward revision). DOE dividend ~8% to continue.
📈 Growth outlook 📈 Growth 3/10
FY2027 projects significant OP decline (-17.1%). Automotive industry geopolitical risks and regional demand volatility pressure growth. North America capex aims at mid-term foundation strengthening but near-term growth outlook is weak.
Growth drivers
  • Increased orders from Japanese customer model changes and expanded adoption of high-value products (new glass launch channels)
  • North America cost improvements and yen weakness boosting profitability
  • North America subsidiary equipment investment under 2030 Global Plan strengthening production capacity
Risk and growth scores and tags are AI-generated estimates from analyzing the disclosure. They are not guarantees of fact, nor investment advice or recommendations. Make investment decisions at your own discretion.
⚠️ Extracted Risk Factors
CategoryDescriptionScoreNew
Market Risk Declining sales of Japanese automotive manufacturers and falling market share in key regions (China, Thailand) pressure earnings. FY2027 OP expected to decline 17.1%. 8/10
Customer Concentration Risk Significant revenue concentration in Japanese automotive manufacturers; their sales decline directly impacts earnings (especially East Asia, Southeast Asia). 8/10 NEW
Earnings Deterioration Risk FY2027 guidance shows significant downward revision (OP -17.1%, NP -40.7%). Risk of further deterioration if auto demand remains weak. 8/10 NEW
Intensified Competition Risk Intensified electrification competition between Chinese BEVs and Japanese hybrid vehicles in Southeast Asia; supply chain restructuring underway. 7/10
Foreign Exchange Risk Yen weakness boosted current earnings, but yen appreciation poses downside risk. Multi-region operations in Americas and Asia exposed to FX volatility. 6/10
Supply Chain Risk USMCA review creates uncertainty in North America-bound exports; local production promotion drives ongoing supply restructuring. 6/10 NEW
Regulatory Risk Mexico subsidiary faces 1,189M peso tax assessment for 2021 from Mexican tax authority; appeal in progress with uncertain resolution. 5/10 NEW
8/10 Market Risk
Declining sales of Japanese automotive manufacturers and falling market share in key regions (China, Thailand) pressure earnings. FY2027 OP expected to decline 17.1%.
8/10 NEW Customer Concentration Risk
Significant revenue concentration in Japanese automotive manufacturers; their sales decline directly impacts earnings (especially East Asia, Southeast Asia).
8/10 NEW Earnings Deterioration Risk
FY2027 guidance shows significant downward revision (OP -17.1%, NP -40.7%). Risk of further deterioration if auto demand remains weak.
7/10 Intensified Competition Risk
Intensified electrification competition between Chinese BEVs and Japanese hybrid vehicles in Southeast Asia; supply chain restructuring underway.
6/10 Foreign Exchange Risk
Yen weakness boosted current earnings, but yen appreciation poses downside risk. Multi-region operations in Americas and Asia exposed to FX volatility.
6/10 NEW Supply Chain Risk
USMCA review creates uncertainty in North America-bound exports; local production promotion drives ongoing supply restructuring.
5/10 NEW Regulatory Risk
Mexico subsidiary faces 1,189M peso tax assessment for 2021 from Mexican tax authority; appeal in progress with uncertain resolution.
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