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EDINET 7291 Neutral Risk Analyzed 📈 Growth 2/10

NIHON PLAST CO.,LTD.

Annual Securities Report - 88th Term(2025/04/01 - 2026/03/31) ／ 2026-06-23 11:50

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

EarningsGuidance DownImpairmentNew ProductMarginDemand
AI Summary 2026-06-23 11:56

FY2026 revenue declined 4.8% to ¥114,861M and operating profit fell 4.5% to ¥2,647M due to customer production cuts. Despite this, net profit improved significantly from special gains. FY2027 targets 1.8% operating margin amid geopolitical risks and major customer strategy shifts.

KEY POINTS
  • Revenue down 4.8% (¥120,554M → ¥114,861M) and operating profit down 4.5% (¥2,771M → ¥2,647M), hit by customer production slowdowns. High dependence on Nissan (65.3%) and Honda (29.9%) creates vulnerability
  • China market structural changes and U.S. tariff policy are critical challenges. Recorded ¥393M impairment loss; factory capacity utilization pressure and recovery timing unclear
  • FY2027 outlook formula deferred due to business environment uncertainty. Targets 1.8% operating margin; priorities include talent development, quality zero-defect, automation, and cost reduction
📊 Revenue
Revenue -4.8% (¥120,554M → ¥114,861M)
💰 Operating profit
Operating profit -4.5% (¥2,771M → ¥2,647M)
🔮 Outlook
FY2027: Target 1.8% operating margin. Detailed earnings forecast not provided due to business environment unpredictability and deferred mid-term plan.
📈 Growth outlook 📈 Growth 2/10
Customer production cuts, EV strategy reviews, and rising geopolitical risks severely limit near-term growth. While capex for carbon-neutral and waste-reduction targets (Long-term Vision 2048) continues, current operating environment constrains profit growth.
Growth drivers
  • Partial offset from autonomous-driving-capable parts (HOD steering wheels) and new model launches
  • Capex for carbon-neutral and waste-reduction targets (solar power, green energy adoption)
  • High-value-added product differentiation (die sales, premium steering wheels with haptic feedback)
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
Customer Concentration Risk Heavy dependence on Nissan (65.3%) and Honda (29.9%). Customer production cuts, EV strategy shifts, and capacity underutilization pose severe earnings risk. 9/10
Business Environment / Geopolitical Risk Middle East tensions risk supply chain disruption, energy price spikes, and material shortages. U.S. tariff policy continues to increase cost burden; full impact difficult to quantify. 8/10
Market Risk China market weakness for Japanese automakers; segment revenue fell 20.8%. Structural market shifts may hinder recovery. 8/10
Foreign Exchange Risk North America (57B), China (11B), and Southeast Asia (3.6B) revenues exposed to FX volatility. Mexico peso and USD fluctuation directly impact earnings. 7/10
Earnings Deterioration Risk FY2027 faces continued tariff burdens, wage inflation, and elevated raw material costs. 1.8% OP margin target requires improvement from FY2026 2.2%, but execution risk is high. 7/10
Impairment Risk ¥393M impairment recorded in FY2026 for domestic plants. Multiple facilities face low profitability with difficult near-term recovery; additional impairment risk. 6/10
Raw Material Risk Steel, resin, and magnesium prices volatile. Pass-through difficulty pressures margins. Middle East tensions risk crude spikes affecting production costs. 6/10
Human Capital Risk Japan's declining working-age population and overseas labor market volatility. Talent acquisition and development delays harm long-term growth. Female management ratio at 3.4% (target 10%) lags. 5/10
9/10 Customer Concentration Risk
Heavy dependence on Nissan (65.3%) and Honda (29.9%). Customer production cuts, EV strategy shifts, and capacity underutilization pose severe earnings risk.
8/10 Business Environment / Geopolitical Risk
Middle East tensions risk supply chain disruption, energy price spikes, and material shortages. U.S. tariff policy continues to increase cost burden; full impact difficult to quantify.
8/10 Market Risk
China market weakness for Japanese automakers; segment revenue fell 20.8%. Structural market shifts may hinder recovery.
7/10 Foreign Exchange Risk
North America (57B), China (11B), and Southeast Asia (3.6B) revenues exposed to FX volatility. Mexico peso and USD fluctuation directly impact earnings.
7/10 Earnings Deterioration Risk
FY2027 faces continued tariff burdens, wage inflation, and elevated raw material costs. 1.8% OP margin target requires improvement from FY2026 2.2%, but execution risk is high.
6/10 Impairment Risk
¥393M impairment recorded in FY2026 for domestic plants. Multiple facilities face low profitability with difficult near-term recovery; additional impairment risk.
6/10 Raw Material Risk
Steel, resin, and magnesium prices volatile. Pass-through difficulty pressures margins. Middle East tensions risk crude spikes affecting production costs.
5/10 Human Capital Risk
Japan's declining working-age population and overseas labor market volatility. Talent acquisition and development delays harm long-term growth. Female management ratio at 3.4% (target 10%) lags.
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