Earnings quality
Compare earnings and operating cash flow for earnings quality.
NSK Ltd.
Ticker 6471 · 🇯🇵 Japan · Consolidated IFRS · amounts in yen
Filed 2026-06-22 · Period end 2026-03-31
Takeaway
Worth trackingSales and operating profit both moved in a healthier direction.
operating margin is 4.3%; equity ratio is 54.2%.
Sales and operating profit moved together — keep watching margins and whether the trend persists next period.
ActionWorth tracking
OP margin4.3%
Equity ratio54.2%
Last price—
Trailing P/E—
Look at next
- Compare operating cash flow to reported profit across the last two years.
- Open English IR for management commentary on outlook and capital allocation.
- Overlay peers on Compare before judging relative momentum.
About the company
日本精工株式会社 is a Japanese listed company. Its reportable segments include Automotive Business, Industrial Machinery Business, Steering Systems Business, Operating Segments Not Included In.
- Automotive Business
- Industrial Machinery Business
- Steering Systems Business
- Operating Segments Not Included In
- Total Of
- Disclosure Of Changes In
Segments Automotive Business · Industrial Machinery Business · Steering Systems Business · Operating Segments Not Included In · Total Of · Disclosure Of Changes In
Compare trends
No phone/email found in this filing · Filing date 2026-06-22
Financial statements
Income statement
| Account | FY2025 (ended Mar 31, 2025) | FY2026 (ended Mar 31, 2026) |
|---|---|---|
| Revenue | ¥796.7B | ¥911.6B |
| Cost of sales* | ¥623.9B | ¥720.4B |
| Gross profit | ¥172.8B | ¥191.3B |
| Operating profit (loss) | ¥28.5B | ¥38.8B |
| Finance income | ¥3.2B | ¥4.0B |
| Finance costs | ¥6.6B | ¥4.8B |
| Income tax expense | ¥12.0B | ¥13.7B |
| Profit (loss) | ¥11.2B | ¥24.3B |
| Profit (loss) attributable to owners | ¥10.6B | ¥22.9B |
| Basic EPS (¥) | 21.78 | 46.75 |
Balance sheet
| Account | FY2025 (ended Mar 31, 2025) | FY2026 (ended Mar 31, 2026) |
|---|---|---|
| Cash and cash equivalents | ¥138.3B | ¥142.1B |
| Current assets | ¥636.7B | ¥651.8B |
| Non-current assets | ¥582.9B | ¥588.0B |
| Total assets | ¥1.2T | ¥1.2T |
| Short-term borrowings | — | — |
| Current liabilities | ¥301.3B | ¥283.5B |
| Non-current liabilities* | ¥249.1B | ¥264.2B |
| Total liabilities | ¥550.4B | ¥547.6B |
| Equity attributable to owners | ¥651.5B | ¥672.0B |
| Total equity | ¥669.2B | ¥692.1B |
Cash flow statement
| Account | FY2025 (ended Mar 31, 2025) | FY2026 (ended Mar 31, 2026) |
|---|---|---|
| Cash flows from operating activities | ¥82.2B | ¥97.8B |
| Cash flows from investing activities | -¥58.8B | -¥64.8B |
| Cash flows from financing activities | -¥33.7B | -¥37.8B |
| Net increase (decrease) in cash | -¥12.3B | ¥3.9B |
| Cash at end of period | ¥138.3B | ¥142.1B |
Five-year trends
Key metrics
| Metric | Trend | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|
| Revenue | ¥865.2B | ¥776.8B | ¥788.9B | ¥796.7B | ¥911.6B | |
| Operating profit | — | — | — | ¥28.5B | ¥38.8B | |
| Profit to owners | ¥16.6B | ¥18.4B | ¥8.5B | ¥10.6B | ¥22.9B | |
| Total assets | ¥1.2T | ¥1.2T | ¥1.3T | ¥1.2T | ¥1.2T | |
| Cash & equivalents | ¥137.5B | ¥160.1B | ¥150.6B | ¥138.3B | ¥142.1B | |
| Owners’ equity | ¥617.8B | ¥616.2B | ¥660.0B | ¥651.5B | ¥672.0B |
How we read these numbers
From the notes
No material one-offs extracted from this filing.
Constructive
Sales and operating profit both moved in a healthier direction.
On the income statement, revenue moved from ¥796.7B to ¥911.6B (▲ +14.4%), so the top line did not break. Gross profit only slipped from ¥172.8B to ¥191.3B, while operating profit swung from ¥28.5B to ¥38.8B — the damage is concentrated below gross profit.
Cash tells a different story than earnings. Operating cash flow was still ¥97.8B (prior ¥82.2B), and cash on the balance sheet rose to ¥142.1B from ¥138.3B. When profits collapse but operating cash stays positive, read the notes for impairments and other non-cash charges before assuming the business stopped generating cash.
The balance sheet got heavier on leverage. Total liabilities rose to ¥547.6B while owners’ equity fell to ¥672.0B. ROE moved from 1.6% to 3.5%, and the equity ratio from 53.4% to 54.2%.
Liquidity & leverage
Short-term borrowing levels look more stable year over year.
Capital buffer
Capital structure held relatively steady.
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Source: EDINET S100YFE3
(日本精工株式会社), period end 2026-03-31.