Nishimatsu Construction reported consolidated net sales of ¥102.629 billion for the three months ended June 30, 2026, up 23.8% from the same quarter a year earlier. This was the first quarter of the fiscal year ending March 2027. Operating profit rose 130.8% to ¥6.992 billion, while construction orders received nearly doubled—but orders are future work booked, not sales recognized in the quarter.
What were Nishimatsu Construction’s Q1 FY2027 results?
The company’s August 7, 2026 filing reports consolidated results for April 1 through June 30, 2026. Amounts below are company-reported yen figures; the filing rounds amounts down to millions.
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| Measure | Q1 FY2027 | Year-on-year change | Same quarter a year earlier |
|---|---|---|---|
| Net sales | ¥102,629 million (¥102.629 billion) | +23.8% | ¥82,907 million |
| Operating profit | ¥6,992 million | +130.8% | ¥3,029 million |
| Ordinary profit | ¥7,012 million | +176.1% | ¥2,540 million |
| Profit attributable to owners of parent | ¥4,651 million | +182.0% | ¥1,649 million |
“Revenue” is a familiar shorthand, but net sales is the line item Nishimatsu reported. The figures are consolidated, not a stock-price return or a measure of the company’s share performance. The filing is the company’s English translation of its Japanese results; Nishimatsu says the Japanese original prevails if the two versions differ. Read the company’s results filing.
Why did net sales and profit rise?
Nishimatsu attributed higher net sales to growth in domestic and overseas projects and its real estate business, among other factors. It said operating profit benefited from increased gross profit on completed domestic construction contracts and from the real estate business, among other factors. These are management’s explanations in the filing, not a breakdown that assigns a specific amount of growth to each driver.
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The operating environment described by the company included upward trends in Japanese public- and private-sector construction investment. It also flagged tight labor supply and demand, market and foreign-exchange movements, material and equipment prices affected by crude oil, and energy costs. In its outlook discussion, Nishimatsu additionally cited international uncertainty, material-supply constraints, interest rates, inflation, and wage increases as factors that could affect costs or private investment. These are the company’s stated considerations, not independent economic forecasts.
How did the business segments perform?
Reported segment net sales increased across all four categories. Nishimatsu said environment and urban development’s growth mostly reflected increased real estate sales.
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| Segment | Net sales | Year-on-year change |
|---|---|---|
| Civil engineering | ¥30,259 million | +17.8% |
| Building | ¥54,953 million | +16.4% |
| International | ¥9,159 million | +48.7% |
| Environment and urban development | ¥9,124 million | +114.3% |
Segment totals should not be treated as a direct reconciliation to consolidated net sales: segment results include internal sales or transfers between segments. Also, from Q1 FY2027, the company revised its reportable segment classifications and the method used to calculate segment profit or loss. The filing says comparisons are presented on that revised basis, so comparisons with older segment disclosures may not be like-for-like.
What do construction orders received show?
Construction orders received were ¥90,400 million, up 99.2% year on year, primarily because of an increase in domestic projects, according to the company. Orders received indicate work booked, not revenue recognized during Q1. They can therefore provide a different view of the business pipeline, but should not be added to net sales or described as sales for the quarter.
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What is Nishimatsu’s FY2027 forecast?
For the fiscal year ending March 31, 2027, Nishimatsu kept its consolidated forecast unchanged from its May 12, 2026 results release.
| Full-year measure | Forecast for FY ending March 2027 |
|---|---|
| Net sales | ¥440,000 million |
| Operating profit | ¥28,500 million |
| Ordinary profit | ¥26,500 million |
| Profit attributable to owners of parent | ¥20,500 million |
The filing cautions that actual results may differ because of future factors. The Q1 release does not by itself establish whether the company will meet its forecast.
How to interpret the report
- When comparing periods, match consolidated figures with consolidated figures and compare equivalent three-month periods.
- Keep net sales separate from orders received: sales are reported for the quarter, while orders measure newly booked construction work.
- Assess profit alongside sales growth, and use the revised segment basis for segment comparisons from this quarter.
- The release is not evidence of an investment recommendation or share-price reaction. Evaluating the stock would require current market prices and broader valuation information.
Nishimatsu stated that it held no financial-results briefing. It also said the Japanese-language originals of the attached quarterly statements had not been reviewed by certified public accountants or an audit firm; the filing should not be described as audited or externally reviewed. The company’s investor-relations financial-results index lists its releases.
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