Nippon Sanso First-Half Profit Rises 38.6% as U.S. Segment Grows

Nippon Sanso Holdings’ net income attributable to owners of the parent rose 38.6% to ¥79.6 billion in the six months ended Sept. 30, while revenue increased 13.3% to ¥737.1 billion. The results cover April through September, the first half of fiscal 2027, rather than the July-September quarter alone.

Core operating income advanced 15.5% to ¥108.9 billion. Operating income rose 26.6% to ¥119.3 billion. The company attributed the results to higher shipment volumes, price management and productivity programs across its regions.

Currency movements added an estimated ¥45.7 billion to revenue and ¥7 billion to core operating income. The figures show the estimated contribution from exchange rates during the six-month period; Nippon Sanso’s reported results include those effects.

The U.S. segment posted revenue of ¥199.8 billion, up 15.8%, and segment income of ¥28.5 billion, an increase of 23.2%. Nippon Sanso defines segment income as core operating income. Its U.S. operations include gas businesses and equipment activities, including electronics-related equipment.

The company cited higher shipments, price management and exchange rates in its U.S. gas business, along with increased sales in industrial gas and electronics-related equipment. Nippon Sanso reports results across Japan, the United States, Europe, Asia and Oceania, and Thermos.

Nippon Sanso left its forecast for the fiscal year ending March 31, 2027, unchanged. It projects revenue of ¥1.38 trillion, operating income of ¥215 billion and net income attributable to owners of the parent of ¥131 billion. The company estimates an annual dividend of ¥66 per share, compared with ¥62 for fiscal 2026.