Income Statement Nittoh Corporation

Stocks

1738

JP3681170001

Construction & Engineering

End-of-day quote NAGOYA STOCK EXCHANGE 2026-08-19			5-day change	1st Jan Change
577.00 ^JPY	-0.17%		+0.87%	-1.20%

23-05-09

Nittoh Corporation Reports Earnings Results for the Full Year Ended March 31, 2023

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Published financial data: NITTOH CORPORATION

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2022	2023	2024	2025	2026
Revenues	9.3B	9.68B	10.12B	10.33B	11.09B
Total Revenues	9.3B	9.68B	10.12B	10.33B	11.09B
Cost of Goods Sold, Total	6.85B	7.2B	7.48B	7.78B	8.3B
Gross Profit	2.46B	2.48B	2.64B	2.55B	2.79B
Selling General & Admin Expenses, Total	2.05B	2.13B	2.22B	2.27B	2.36B
Provision for Bad Debts	1M	-	-	-	-
Other Operating Expenses, Total	2.05B	2.13B	2.22B	2.27B	2.36B
Operating Income	407M	345M	429M	278M	434M
Interest Expense, Total	-4M	-4M	-6M	-8M	-8M
Interest And Investment Income	1M	2M	2M	3M	6M
Net Interest Expenses	-3M	-2M	-4M	-5M	-2M
Other Non Operating Income (Expenses)	28M	32M	32M	30M	27M
EBT, Excl. Unusual Items	432M	375M	457M	303M	459M
Gain (Loss) On Sale Of Investments	-	-	-	-	-
Gain (Loss) On Sale Of Assets	0	1M	1M	295M	1M
Asset Writedown	-33M	-48M	-81M	-4M	-
Other Unusual Items	-	-	-	-	-
EBT, Incl. Unusual Items	399M	328M	377M	594M	460M
Income Tax Expense	138M	106M	130M	192M	130M
Earnings From Continuing Operations	261M	222M	247M	402M	330M
Net Income to Company	261M	222M	247M	402M	330M
Net Income - (IS)	261M	222M	247M	402M	330M
Net Income to Common Incl Extra Items	261M	222M	247M	402M	330M
Net Income to Common Excl. Extra Items	261M	222M	247M	402M	330M
Per Share Items
Net EPS - Basic	64.4	54.77	60.94	99.18	81.42
Basic EPS - Continuing Operations	64.4	54.77	60.94	99.18	81.42
Basic Weighted Average Shares Outstanding	4.05M	4.05M	4.05M	4.05M	4.05M
Net EPS - Diluted	64.4	54.77	60.94	99.18	81.42
Diluted EPS - Continuing Operations	64.4	54.77	60.94	99.18	81.42
Diluted Weighted Average Shares Outstanding	4.05M	4.05M	4.05M	4.05M	4.05M
Normalized Basic EPS	66.62	57.83	70.47	46.72	70.78
Normalized Diluted EPS	66.62	57.83	70.47	46.72	70.78
Dividend Per Share	14	13	16	20	18
Payout Ratio	18.39	25.23	24.29	15.92	24.55
Supplemental Items
EBITDA	457M	395M	483M	372M	504M
EBITA	407M	345M	429M	278M	434M
EBIT	407M	345M	429M	278M	434M
Effective Tax Rate - (Ratio)	34.59	32.32	34.48	32.32	28.26
Normalized Net Income	270M	234M	286M	189M	287M
Non-Cash Pension Expense	46.58M	50.56M	27.48M	41.28M	43.12M

Fiscal Period: March	2022	2023	2024	2025	2026
Assets
Cash And Equivalents	1.31B	1.4B	1.58B	1.55B	1.84B
Total Cash And Short Term Investments	1.31B	1.4B	1.58B	1.55B	1.84B
Accounts Receivable, Total	1.25B	1.24B	1.38B	1.23B	1.24B
Total Receivables	1.25B	1.24B	1.38B	1.23B	1.24B
Inventory	877M	1.04B	1.04B	1.12B	938M
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	84M	112M	70M	79M	66M
Total Current Assets	3.53B	3.79B	4.08B	3.98B	4.08B
Net Property Plant And Equipment	2.57B	2.6B	3.04B	3.06B	3.08B
Long-term Investments	203M	207M	243M	242M	300M
Other Intangibles, Total	8M	10M	15M	13M	12M
Deferred Tax Assets Long-Term	199M	208M	221M	162M	150M
Other Long-Term Assets, Total	1M	2M	2M	1M	2M
Total Assets	6.51B	6.82B	7.6B	7.46B	7.62B
Liabilities
Accounts Payable, Total	802M	869M	822M	877M	717M
Accrued Expenses, Total	111M	117M	128M	129M	155M
Short-term Borrowings	510M	510M	510M	510M	510M
Current Portion of Long-Term Debt	70M	90M	147M	99M	99M
Current Income Taxes Payable	91M	45M	99M	70M	67M
Other Current Liabilities	313M	304M	383M	298M	413M
Total Current Liabilities	1.9B	1.94B	2.09B	1.98B	1.96B
Long-Term Debt	118M	188M	595M	195M	95M
Pension & Other Post Retirement Benefits	403M	431M	437M	448M	444M
Other Non Current Liabilities	173M	177M	181M	191M	197M
Total Liabilities	2.59B	2.73B	3.3B	2.82B	2.7B
Common Stock, Total	186M	186M	186M	186M	186M
Additional Paid In Capital	145M	145M	145M	145M	145M
Retained Earnings	3.57B	3.74B	3.92B	4.26B	4.51B
Treasury Stock	-1M	-1M	-1M	-1M	-1M
Comprehensive Income and Other	22M	23M	45M	51M	87M
Total Common Equity	3.92B	4.09B	4.3B	4.64B	4.92B
Total Equity	3.92B	4.09B	4.3B	4.64B	4.92B
Total Liabilities And Equity	6.51B	6.82B	7.6B	7.46B	7.62B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	4.05M	4.05M	4.05M	4.05M	4.05M
ECS Total Common Shares Outstanding	4.05M	4.05M	4.05M	4.05M	4.05M
Book Value / Share	967.41	1.01K	1.06K	1.14K	1.22K
Tangible Book Value	3.91B	4.08B	4.28B	4.63B	4.91B
Tangible Book Value Per Share	965.43	1.01K	1.06K	1.14K	1.21K
Total Debt	698M	788M	1.25B	804M	704M
Net Debt	-616M	-610M	-332M	-747M	-1.14B
Debt Equivalent of Unfunded Proj. Benefit Obligation	404M	432M	437M	449M	445M
Inventories - Raw Materials, Total	121M	125M	116M	105M	108M
Inventories - Work In Process, Total	125M	116M	141M	106M	113M
Inventories - Finished Goods, Total	630M	800M	780M	906M	715M
Inventories - Others	1M	1M	2M	2M	2M
Full Time Employees	418	436	440	435	439
Accumulated Allowance for Doubtful Accounts (Supple)	1M	1M	1M	-	-
Order Backlog	587M	729M	789M	686M	698M

Fiscal Period: March	2022	2023	2024	2025	2026
Net Income	399M	328M	377M	594M	460M
Depreciation & Amortization - CF	50M	50M	54M	94M	70M
Depreciation & Amortization, Total	50M	50M	54M	94M	70M
(Gain) Loss From Sale Of Asset	34M	48M	81M	-289M	-
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-	-
Other Operating Activities, Total	-133M	-161M	-100M	-165M	-135M
Change In Accounts Receivable	-31M	18M	-148M	153M	-4M
Change In Inventories	-15M	-165M	3M	-79M	180M
Change In Accounts Payable	20M	67M	-46M	54M	-160M
Change in Other Net Operating Assets	17M	-2M	138M	-57M	150M
Cash from Operations	341M	183M	359M	305M	561M
Capital Expenditure	-229M	-131M	-570M	-315M	-89M
Sale of Property, Plant, and Equipment	-	-	-	496M	-
Sale (Purchase) of Intangible assets	-	-3M	-5M	-	-
Investment in Marketable and Equity Securities, Total	-	-	-	-	-
Net (Increase) Decrease in Loans Originated / Sold - Investing	-3M	3M	-	-	-
Other Investing Activities, Total	-2M	-1M	-2M	-6M	-2M
Cash from Investing	-234M	-132M	-577M	175M	-91M
Short Term Debt Issued, Total	-	-	-	-	-
Long-Term Debt Issued, Total	-	200M	600M	-	-
Total Debt Issued	-	200M	600M	-	-
Short Term Debt Repaid, Total	-	-	-	-	-
Long-Term Debt Repaid, Total	-70M	-111M	-136M	-447M	-99M
Total Debt Repaid	-70M	-111M	-136M	-447M	-99M
Common Dividends Paid	-48M	-56M	-60M	-64M	-81M
Common & Preferred Stock Dividends Paid	-48M	-56M	-60M	-64M	-81M
Other Financing Activities, Total	-1M	-1M	-1M	-2M	-1M
Cash from Financing	-119M	32M	403M	-513M	-181M
Miscellaneous Cash Flow Adjustments	1M	1M	-	1M	-1M
Net Change in Cash	-11M	84M	185M	-32M	288M
Supplemental Items
Cash Interest Paid	4M	5M	6M	8M	8M
Cash Income Tax Paid (Refund)	134M	162M	100M	165M	137M
Levered Free Cash Flow	48.88M	-27.88M	-264M	-46.25M	415M
Unlevered Free Cash Flow	51.38M	-25.38M	-260M	-41.25M	420M
Change In Net Working Capital	24M	157M	7M	-6M	-168M
Net Debt Issued / Repaid	-70M	89M	464M	-447M	-99M

Fiscal Period: March	2022	2023	2024	2025	2026
Profitability
Return on Assets	3.96	3.23	3.72	2.31	3.6
Return on Total Capital	5.58	4.54	5.14	3.16	4.9
Return On Equity %	6.82	5.54	5.89	9	6.9
Return on Common Equity	6.82	5.54	5.89	9	6.9
Margin Analysis
Gross Profit Margin %	26.41	25.57	26.12	24.69	25.16
SG&A Margin	22.02	22.01	21.89	22	21.25
EBITDA Margin %	4.91	4.08	4.77	3.6	4.55
EBITA Margin %	4.37	3.56	4.24	2.69	3.91
EBIT Margin %	4.37	3.56	4.24	2.69	3.91
Income From Continuing Operations Margin %	2.8	2.29	2.44	3.89	2.98
Net Income Margin %	2.8	2.29	2.44	3.89	2.98
Net Avail. For Common Margin %	2.8	2.29	2.44	3.89	2.98
Normalized Net Income Margin	2.9	2.42	2.82	1.83	2.59
Levered Free Cash Flow Margin	0.53	-0.29	-2.6	-0.45	3.74
Unlevered Free Cash Flow Margin	0.55	-0.26	-2.57	-0.4	3.79
Asset Turnover
Asset Turnover	1.45	1.45	1.4	1.37	1.47
Fixed Assets Turnover	3.72	3.74	3.59	3.39	3.61
Receivables Turnover (Average Receivables)	7.71	7.78	7.73	7.9	8.99
Inventory Turnover (Average Inventory)	7.65	7.51	7.19	7.21	8.07
Short Term Liquidity
Current Ratio	1.86	1.96	1.95	2.01	2.08
Quick Ratio	1.35	1.36	1.42	1.4	1.57
Operating Cash Flow to Current Liabilities	0.18	0.09	0.17	0.15	0.29
Days Sales Outstanding (Average Receivables)	47.37	46.92	47.35	46.21	40.59
Days Outstanding Inventory (Average Inventory)	47.7	48.62	50.93	50.63	45.24
Average Days Payable Outstanding	42.44	41.39	41.4	39.46	35.84
Cash Conversion Cycle (Average Days)	52.63	54.15	56.88	57.38	49.99
Long Term Solvency
Total Debt/Equity	17.8	19.28	29.14	17.33	14.29
Total Debt / Total Capital	15.11	16.16	22.57	14.77	12.51
LT Debt/Equity	3.01	4.6	13.85	4.2	1.93
Long-Term Debt / Total Capital	2.55	3.86	10.72	3.58	1.69
Total Liabilities / Total Assets	39.79	40.05	43.46	37.78	35.38
EBIT / Interest Expense	101.75	86.25	71.5	34.75	54.25
EBITDA / Interest Expense	114.25	98.75	80.5	46.5	63
(EBITDA - Capex) / Interest Expense	57	66	-14.5	7.12	51.88
Total Debt / EBITDA	1.53	1.99	2.59	2.16	1.4
Net Debt / EBITDA	-1.35	-1.54	-0.69	-2.01	-2.25
Total Debt / (EBITDA - Capex)	3.06	2.98	-14.39	14.11	1.7
Net Debt / (EBITDA - Capex)	-2.7	-2.31	3.82	-13.11	-2.74
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	7.97	4.01	4.58	2.05	7.36
Gross Profit, 1 Yr. Growth %	10.58	0.73	6.83	-3.56	9.41
EBITDA, 1 Yr. Growth %	20.9	-13.57	22.28	-22.98	35.48
EBITA, 1 Yr. Growth %	22.96	-15.23	24.35	-35.2	56.12
EBIT, 1 Yr. Growth %	22.96	-15.23	24.35	-35.2	56.12
Earnings From Cont. Operations, 1 Yr. Growth %	8.75	-14.94	11.26	62.75	-17.91
Net Income, 1 Yr. Growth %	8.75	-14.94	11.26	62.75	-17.91
Normalized Net Income, 1 Yr. Growth %	20	-13.19	21.87	-33.7	51.49
Diluted EPS Before Extra, 1 Yr. Growth %	8.75	-14.94	11.26	62.75	-17.91
Accounts Receivable, 1 Yr. Growth %	7.83	-1.44	12.06	-11.06	0.32
Inventory, 1 Yr. Growth %	-3.94	18.81	-0.29	7.7	-16.18
Net Property, Plant and Equip., 1 Yr. Growth %	5.93	1.24	16.7	0.62	0.65
Total Assets, 1 Yr. Growth %	2.73	4.71	11.42	-1.86	2.21
Tangible Book Value, 1 Yr. Growth %	5.08	4.22	4.98	8.08	6.18
Common Equity, 1 Yr. Growth %	5.06	4.26	5.09	8.01	6.14
Cash From Operations, 1 Yr. Growth %	287.5	-46.33	96.17	-15.04	83.93
Capital Expenditures, 1 Yr. Growth %	-0.43	-42.79	335.11	-44.74	-71.75
Levered Free Cash Flow, 1 Yr. Growth %	-126.56	-157.03	845.74	-82.46	-997.84
Unlevered Free Cash Flow, 1 Yr. Growth %	-128.21	-149.39	924.14	-84.13	-1.12K
Dividend Per Share, 1 Yr. Growth %	16.67	-7.14	23.08	25	-10
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	1.31	5.97	4.29	3.3	4.67
Gross Profit, 2 Yr. CAGR %	3.47	5.54	3.74	1.5	2.72
EBITDA, 2 Yr. CAGR %	8.25	2.22	2.81	-2.96	2.15
EBITA, 2 Yr. CAGR %	8.61	2.09	2.67	-10.23	0.58
EBIT, 2 Yr. CAGR %	8.61	2.09	2.67	-10.23	0.58
Earnings From Cont. Operations, 2 Yr. CAGR %	2.59	-3.82	-2.72	34.57	15.59
Net Income, 2 Yr. CAGR %	2.59	-3.82	-2.72	34.57	15.59
Normalized Net Income, 2 Yr. CAGR %	9.85	2.06	2.85	-10.11	0.22
Diluted EPS Before Extra, 2 Yr. CAGR %	2.59	-3.82	-2.72	34.57	15.59
Accounts Receivable, 2 Yr. CAGR %	9.4	3.09	5.1	-0.16	-5.54
Inventory, 2 Yr. CAGR %	8.21	6.83	8.84	3.63	-4.98
Net Property, Plant and Equip., 2 Yr. CAGR %	7.03	3.56	8.7	8.36	0.64
Total Assets, 2 Yr. CAGR %	4.94	3.72	8.02	4.57	0.16
Tangible Book Value, 2 Yr. CAGR %	5.46	4.65	4.6	6.52	7.13
Common Equity, 2 Yr. CAGR %	5.45	4.66	4.67	6.54	7.07
Cash From Operations, 2 Yr. CAGR %	-3.21	44.21	2.61	29.1	25.01
Capital Expenditures, 2 Yr. CAGR %	45.61	-24.53	57.77	55.07	-60.49
Levered Free Cash Flow, 2 Yr. CAGR %	-48.84	-61.08	132.25	28.81	25.51
Unlevered Free Cash Flow, 2 Yr. CAGR %	-47.81	-62.67	124.91	27.5	27.17
Dividend Per Share, 2 Yr. CAGR %	3.77	4.08	6.9	24.03	6.07
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	1.56	2.2	5.5	3.54	4.64
Gross Profit, 3 Yr. CAGR %	3.27	2.55	5.97	1.25	4.07
EBITDA, 3 Yr. CAGR %	2.85	0.43	8.51	-6.63	8.46
EBITA, 3 Yr. CAGR %	9.62	0	9.03	-11.93	7.95
EBIT, 3 Yr. CAGR %	9.62	0	9.03	-11.93	7.95
Earnings From Cont. Operations, 3 Yr. CAGR %	5.7	-3.62	0.96	15.49	14.13
Net Income, 3 Yr. CAGR %	5.7	-3.62	0.96	15.49	14.13
Normalized Net Income, 3 Yr. CAGR %	8.2	1.56	8.28	-11.15	6.97
Diluted EPS Before Extra, 3 Yr. CAGR %	5.7	-3.62	0.96	15.49	14.13
Accounts Receivable, 3 Yr. CAGR %	4.56	5.66	6	-0.59	0
Inventory, 3 Yr. CAGR %	7.91	11.63	4.4	8.46	-3.44
Net Property, Plant and Equip., 3 Yr. CAGR %	3.98	5.07	7.77	5.94	5.73
Total Assets, 3 Yr. CAGR %	3.63	4.87	6.22	4.62	3.78
Tangible Book Value, 3 Yr. CAGR %	5.57	5.05	4.76	5.75	6.41
Common Equity, 3 Yr. CAGR %	5.54	5.05	4.8	5.77	6.41
Cash From Operations, 3 Yr. CAGR %	9.6	-20.48	59.79	-3.65	45.27
Capital Expenditures, 3 Yr. CAGR %	-20.51	6.65	35.33	11.21	-12.09
Levered Free Cash Flow, 3 Yr. CAGR %	-36.26	-46.95	12.73	-1.82	146.05
Unlevered Free Cash Flow, 3 Yr. CAGR %	-34.98	-48.76	12.58	-7.06	154.9
Dividend Per Share, 3 Yr. CAGR %	2.5	0	10.06	12.62	11.46
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	3.06	2.96	2.64	2.64	5.17
Gross Profit, 5 Yr. CAGR %	3.75	3.04	3.46	2.13	4.66
EBITDA, 5 Yr. CAGR %	3.49	-0.84	2.83	-0.94	5.92
EBITA, 5 Yr. CAGR %	2.43	-2.22	6.78	-4.23	5.57
EBIT, 5 Yr. CAGR %	2.43	-2.22	6.78	-4.23	5.57
Earnings From Cont. Operations, 5 Yr. CAGR %	-0.6	-4.4	2.25	10.14	6.58
Net Income, 5 Yr. CAGR %	-0.6	-4.4	2.25	10.14	6.58
Normalized Net Income, 5 Yr. CAGR %	2.33	-2.05	6.03	-3.28	4.98
Diluted EPS Before Extra, 5 Yr. CAGR %	-0.6	-4.4	2.25	10.14	6.58
Accounts Receivable, 5 Yr. CAGR %	4.66	1.14	4.78	3.29	1.23
Inventory, 5 Yr. CAGR %	16.31	12.63	8.28	8.36	0.54
Net Property, Plant and Equip., 5 Yr. CAGR %	10.4	5.78	5.84	6.37	4.86
Total Assets, 5 Yr. CAGR %	7.22	5.39	5.36	4.75	3.76
Tangible Book Value, 5 Yr. CAGR %	5.9	5.29	5.18	5.63	5.7
Common Equity, 5 Yr. CAGR %	5.9	5.28	5.19	5.64	5.7
Cash From Operations, 5 Yr. CAGR %	13.38	18.6	6.75	-3.48	44.84
Capital Expenditures, 5 Yr. CAGR %	34	-21.08	4.56	23.87	-17.29
Levered Free Cash Flow, 5 Yr. CAGR %	-6.01	-40.56	6.91	-24.36	17.68
Unlevered Free Cash Flow, 5 Yr. CAGR %	-5.07	-41.67	6.82	-26.22	18.2
Dividend Per Share, 5 Yr. CAGR %	0	-2.82	4.24	9	8.45