Translation
Note: This document has been translated from the Japanese original for reference purposes only. In the event of any
discrepancy between this translated document and the Japanese original, the original shall prevail.
Summary of Consolidated Financial Results
for the Third Quarter of the Fiscal Year 2025
(Based on Japanese GAAP)
October 31, 2025
Company name: NICCA CHEMICAL CO., ltd.
Stock exchange listings: Tokyo Stock Exchange
Stock code: 4463
URL: https://www.nicca.co.jp
Representative: Ya sumasa Emori, President and Representative Director
Contact: Shoya Sawa sa ki, Director, Senior Executive Officer, Head of Administration
Division
TEL: +81 - 776 - 24 - 0213
Scheduled date for dividend payment: N one
Supplementary materials for financial
summaries: Yes
Financial results briefing: No ne
(Amounts of less than one million yen are rounded down.)
1. Consolidated Financial Results for the Nine Months of the Fiscal Year Ending December 31, 2025 (from January 01, 2025 to
September 30, 2025)
(1) Consolidated operating results (Cumulative) (Percentage indicate YoY changes)
Net sales Operating profit Ordinary profit Profit attributable to
owners of parent
Nine months ended Million yen % Million yen % Million yen % Million yen %
September 30, 2025 41,217 4.4 2,901 15.7 2,759 (2.8) 1,613 (12.7)
September 30, 2024 39,476 5.4 2,508 88.6 2,839 56.3 1,848 81.6
(Note) Comprehensive income For the third quarter of the fiscal year ending December 2025: 766 million yen ((66.0)% ) For the third quarter of the fiscal year
ending December 2024: 2,253 million yen ((17.3)%)
Basic earnings per share Diluted earnings per
share
Nine months ended Yen Yen
September 30, 2025 101.76 -
September 30, 2024 116.89 -
(2) Consolidated financial positions
Total assets Net assets Equity to total assets
ratio Net assets per share
As of Million yen Million yen % Yen
September 30, 2025 66,489 36,411 50.2 2,098.47
December 31, 2024 62,366 36,553 54.0 2,125.60
(Reference) Owner's equity As of the third quarter of the fiscal year ending December 2025: 33,396 million yen As of the fisc al year
ended December 2024: 33,650 million yen
2. Cash dividends
Annual dividends per share
End of first quarter End of second
quarter End of third quarter Fiscal year - end Total
Yen Yen Yen Yen Yen
Fiscal year ended
December 31, 2024 - 25.00 - 27.00 52.00
Fiscal year ending
December 31, 2025 - 30.00 -
Fiscal year ending
December 31, 2025
(Forecast)
30.00 60.00
(Note) Presence or absence of revisions from the most recently announced dividend forecast: No ne
3. Consolidated Earnings Forecasts for the Fiscal Year Ending December 31, 2025 (from January 01, 2025 to December 31,
2025)
(Percentages indicate YoY changes)
Net sales Operating profit Ordinary profit Profit attributable to
owners of parent
Basic earnings per
share
Million
yen % Million
yen % Million
yen % Million
yen % Yen
Fiscal year ending
December 31, 2025 57,000 5.4 3,600 2.3 3,400 (14.5) 2,400 (12.9) 151.49
(Note) Correction of financial forecast from the most recen t financial forecast: No ne
* Notes
(1) Significant changes in the scope of consolidation during the period: No ne
(2) Application of specific accounting for the consolidated quarterly financial statements: Yes
(3) Changes in accounting policies, changes in accounting estimates, retrospective restatement
(i) Changes in accounting policies due to revisions of accounting standards: No ne
(ii) Changes in accounting policies other than (i): No ne
(iii) Changes in accounting estimates: No ne
(iv) Retrospective restatement: No ne
(4) Number of shares issued (common stock)
(i) Total number of issued shares at the end of the period (including treasury shares)
As of September 30, 2025 17,710,000 shares
As of December 31, 2024 17,710,000 shares
(ii) Number of treasury shares at the end of the period
As of September 30, 2025 1,795,367 shares
As of December 31, 2024 1,879,105 shares
(iii) Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year)
Nine months ended September 30, 2025 15,852,078 shares
Nine months ended September 30, 2024 15,813,750 shares
※ Review of attached consolidated quarterly financial statements by a certified public accountant or an audit firm: N o ne
* Notes regarding the appropriate use of forecasts and other special items
(Cautionary Statement Regarding Forward - Looking Statements)
Forward - looking statements such as earnings forecasts contained in this document are based on information currently available to
the Company and on certain assumptions that are deemed reasonable. They are not intended as a guarantee of achievement by the
C ompany. Actual results may differ significantly due to various factors in the future.
1
○Table of Contents for Attached Materials
1. Overview of Operating Results, etc. 2
(1) Overview of operating results for the quarter 2
(2) Overview of financial positions for the quarter 3
(3) Explanation regarding consolidated forecasts and other forward - looking statements 3
2. Quarterly Consolidated Financial Statements and Main Notes 4
(1) Quarterly Consolidated Balance Sheet 4
(2) Quarterly Consolidated Statement of Income and Quarterly Consolidated Statement of Comprehensive Income 6
(3) Notes to the quarterly consolidated financial statements 8
(Notes on accounting treatments specific to the preparation of quarterly consolidated financial statements) 8
(Notes on segment information, etc.) 9
(Notes on significant changes in the amount of shareholders' equity) 11
(Notes regarding the assumption of a going concern) 11
(Notes on quarterly consolidated statement of cash flows) 11
2
1. Overview of Operating Results, etc.
(1) Overview of operating results for the quarter
During the nine months ended September 30, 2025, the global economy continued to face instability due to persistently high
geopolitical risks surrounding the situations in Ukraine and the Middle East, as well as fluctuations in crude oil and resour ce price s.
In addition, the impact of protectionist policies such as reciprocal tariffs under the Trump administration in the United Sta tes,
combined with trends in monetary policy and exchange rate fluctuations in major countries, has resulted in continued uncert ainty
regarding the outlook for the global economy. On the other hand, the Japanese economy has maintained a moderate recovery tren d,
supported by a rebound in personal consumption and a recovery in inbound demand. However, concerns about a slowdown in
ove rseas economies and the impact of U.S. tariff policies have left uncertainty regarding the future outlook.
Under these circumstances, our group has set forth the corporate purpose of "Activate Your Life" (to solve various social iss ues
together with stakeholders through the infinite potential of interface chemistry, thereby contributing to a richer life and a b righter
future). Based on this purpose and our medium - to long - term growth vision of becoming "the most trusted innovation company by
customers worldwide," we have formulated the three - year medium - term management plan "INNOVATION25" (2023 - 2025).
Currently, we are working to promote the five key strategies of the medium - term management plan: "drastic business structure
transformation," "focused investment," "productivity reform," "promotion of sustainable management," and "evolution of the bi g
family princip le."
We will continue to transform the rapidly changing business environment into business opportunities, focus on businesses that
provide increasingly essential value to society, and aim for sustainable growth.
Net sales for the nine months ended September 30, the final year of the three - year medium - term management plan
'INNOVATION25,' were 41,217 million yen (up 4.4% YoY), operating profit was 2,901 million yen (up 15.7% YoY), ordinary
profit was 2,759 million y en (down 2.8% YoY), and profit attributable to owners of parent was 1,613 million yen (down 12.7%
YoY).
The performance of each segment is as follows. Please note that the Net sales of each segment mentioned in the text do not
include internal Net sales between segments.
(Chemicals Business)
Net sales were 29,475 million yen (up 1.3% YoY), and segment profit was 2,979 million yen (up 5.9% YoY).
In our core textile chemicals business, although the operations of overseas textile processing plants, which are our customer s,
slowed down due to the impact of the Trump tariffs, sales increased mainly at our China base through the growth of high value -
ad ded EHD - related finished goods such as fluorine - free water repellents and process rationalization agents, as well as the
acquisition of new business. In addition, sales of electronic materials - related process chemicals also increased due to a partial
recov ery in the semiconductor market and the acquisition of new business.
As a result of the increase in sales, although selling, general and administrative expenses increased, the chemicals business
recorded both higher sales and profits.
(Cosmetics Business)
Net sales were 11,344 million yen (up 11.7% YoY), and segment profit was 1,430 million yen (up 24.0% YoY).
At our company, Demicosmetics, despite the continued uncertainty in the domestic economy due to factors such as rising prices
and the challenging salon environment caused by a decrease in customer visits due to the extreme heat, we maintained steady
perfor mance through the expansion of our main hair care products and new merchandise. At our consolidated subsidiaries, although
sales at DEMI KOREA CO., LTD. declined due to deteriorating market conditions, the contract business at Yamada Pharmaceutical
Co., Lt d. performed well.
As a result, the cosmetics business recorded increases in both revenue and profit.
(Others)
Net sales were 397 million yen (up 68.9% YoY), and segment profit was 50 million yen (compared to a segment loss of 5 million
yen in the same period of the previous year).
3
(2) Overview of financial positions for the quarter
( Assets)
As for the total assets at the end of the third quarter of the consolidated fiscal period, there was an increase of 4,123 mil lion
yen compared to the end of the previous consolidated fiscal year, reaching 66,489 million yen. The main factors for this were
a decrease of 1,216 million yen in notes and accounts receivable - trade, and contract assets, while cash and deposits increased
by 607 million yen, and other (net) under property, plant and equipment increased by 4,791 million yen.
( Liabilities)
As for the total liabilities at the end of the third quarter of the consolidated fiscal period, it increased by 4,265 million yen
compared to the end of the previous consolidated fiscal year, reaching 30,078 million yen. The main factors for this were an
i ncrease of 3,192 million yen in short - term borrowings and an increase of 724 million yen in long - term borrowings.
( Net assets)
As for the total net assets at the end of the third quarter of the consolidated fiscal period, it decreased by 142 million ye n
compared to the end of the previous consolidated fiscal year, amounting to 36,411 million yen. The main factors for this were
an increase in retained earnings by 709 million yen, while foreign currency translation adjustment decreased by 665 million
yen and remeasurements of defined benefit plans decreased by 472 million yen.
(3) Explanation regarding consolidated forecasts and other forward - looking information
No revisions have been made to the consolidated forecasts announced on July 31, 2025.
4
5
2. Quarterly Consolidated Financial Statements and Main Notes (1) Quarterly Consolidated Balance Sheet
(Unit: Million yen)
Previous fiscal year
(December 31, 2024)
For the third quarter
(September 30, 2025)
Assets
Current assets
Cash and deposit 10,726 11,334
Notes and accounts receivable - trade, and contract
assets 11,996 10,780
Merchandise and finished goods 5,314 5,410
Work in process 818 904
Raw materials and supplies 4,372 4,494
Other 1,005 1,144
Allowance for doubtful accounts (13) (13)
Total current asset 34,221 34,057
Non - current assets
Property, plant, and equipment
Buildings and structures, net 12,401 11,733
Machinery, equipment and vehicles, net 2,365 2,057
Land 7,760 7,768
Other (net) 1,475 6,266
Total property, plant and equipment, net 24,002 27,826
Intangible assets
Other 510 827
Total intangible assets 510 827
Investment Other assets
Other 3,631 3,778
Total investment and other assets 3,631 3,778
Total non - current assets 28,144 32,432
Total assets 62,366 66,489
6
(Unit: Million yen)
Previous fiscal year
(December 31, 2024)
For the third quarter
(September 30, 2025)
Liabilities
Current liabilities
Notes and accounts payable - trade 6,181 6,038
Short - term borrowings 4,300 7,492
Current portion of long - term borrowings 1,368 1,368
Income taxes payable 534 366
Provision for bonuses 961 618
Provision for bonuses for directors 15 14
Other 3,783 4,440
Total current liabilities 17,143 20,339
Non - current liabilities
Long - term borrowings 4,234 4,958
Liabilities for retirement benefits 3,132 3,263
Provision for share - based payments 210 224
Other 1,091 1,292
Total non - current liabilities 8,668 9,738
Total liabilities 25,812 30,078
Net assets
Shareholders' equity
Share capital 2,898 2,898
Capital surplus 2,960 2,991
Retained earnings 24,251 24,961
Treasury shares (1,407) (1,342)
Total shareholders' equity 28,703 29,509
Accumulated other comprehensive income
Valuation difference on available - for - sale
securities 719 798
Foreign currency translation adjustment 4,119 3,453
Remeasurements of defined benefit plans 107 (365)
Total accumulated other comprehensive income 4,946 3,887
Non - controlling interests 2,903 3,015
Total net assets 36,553 36,411
Total liabilities and net assets 62,366 66,489
7
(2) Quarterly Consolidated Statement of Income and Quarterly Consolidated Statement of Comprehensive Income
(Quarterly Consolidated Statement of Income)
(Nine months ended)
(Unit: Million yen)
For the nine months ended
[previous period end date]
(From January 1, 2024
until September 30, 2024
For the nine months ended
From January 1, 2025
until September 30, 2025
Net sales 39,476 41,217
Cost of sales 25,357 26,347
Gross profit 14,119 14,870
Selling, general and administrative expenses 11,610 11,969
Operating profit 2,508 2,901
Non - operating income
Interest income 55 80
Dividend income 24 30
Share of income of investments accounted for using
the equity method 12 15
Foreign exchange gains 51 -
Other 238 132
Total non - operating income 382 259
Non - operating expenses
Interest expense 29 84
Foreign exchange losses - 137
Commission expenses - 141
Other 22 38
Total non - operating expenses 51 401
Ordinary profit 2,839 2,759
Extraordinary income
Gain on sale of non - current assets 2 135
Total extraordinary income 2 135
Extraordinary losses
Loss on retirement of fixed assets 4 3
Loss on sale of non - current assets 0 0
Loss on sale of investment securities 0 -
Total extraordinary losses 4 3
Net income before income taxes 2,837 2,890
Income taxes 769 1,024
Profit 2,067 1,866
Profit attributable to non - controlling interests 219 253
Profit attributable to owners of parent 1,848 1,613
8
(Quarterly Consolidated Statement of Comprehensive Income)
(Nine months ended)
(Unit: Million yen)
For the nine months ended
[previous period end date]
(From January 1, 2024
Until September 30, 2024
For the nine months ended
From January 1, 2025
until September 30, 2025
Net income 2,067 1,866
Other comprehensive income (loss), net of tax
Valuation difference on available - for - sale securities 81 79
Foreign currency translation adjustment 78 (707)
Remeasurements of defined benefit plans, net of tax 26 (471)
Other comprehensive income, net of tax 186 (1,100)
Comprehensive income 2,253 766
Comprehensive income attributable to
Quarterly comprehensive income attributable to
owners of the parent 1,982 553
Quarterly comprehensive income attributable to non -
controlling interests 270 213
9
(3) Notes to the quarterly consolidated financial statements
(Notes on accounting treatments specific to the preparation of quarterly consolidated financial statements)
(Calculation of tax expenses)
With regard to income tax expenses, the effective tax rate after applying tax effect accounting, reasonably estimated for the
fiscal year including the third quarter of the consolidated accounting period, is applied to pre - tax net income to calculate the t ax
expense. However, if calculating tax expenses using the estimated effective tax rate results in a significantly unreasonable
outcome, the statutory effective tax rate is used instead.
10
(Notes on segment information, etc.)
I Previous nine months ended September 30, 2024
1. Information on net sales and profit or loss by reportable segment
(Unit: Million yen)
Reportable segment
Other (Note) Total
Chemicals Cosmetics Total
Revenue
Net sales to external customers 29,083 10,157 39,241 235 39,476
Internal net sales between segments
or transfer amount - 1 1 169 170
Total 29,083 10,158 39,242 405 39,647
Segment profit or loss ( - ) 2,813 1,153 3,967 (5) 3,961
(Note) The category of 'Others' refers to business segments not included in the reportable segments, and includes equipment
contracting work.
2. Difference between the total amount of profit or loss for reportable segments and the amount recorded in the quarterly con solidated
statement of income, and the main contents of such difference (matters related to reconciliation of differences)
(Unit: Million yen)
Profit Amount
Total for reportable segments 3,967
Profit or loss ( - ) in the "Others" category (5)
Elimination of inter - segment transactions 25
Company - wide expenses (Note) (1,477)
Quarterly Consolidated Statement of Income Operating
profit 2,508
(Note) Company - wide expenses mainly consist of general and administrative expenses that are not attributable to any reportable
segment.
3. Information on impairment losses of non - current assets or goodwill, etc. by reportable segment
(Significant impairment losses related to non - current assets)
There are no applicable items.
(Significant changes in the amount of goodwill)
There are no applicable items.
(Significant gain on bargain purchase)
There are no applicable items.
II For the nine months ended September 30, 2025
1. Information on net sales and profit or loss by reportable segment
(Unit: Million yen)
Reportable segment
Other (Note) Total
Chemicals Cosmetics Total
Revenue
Net sales to external customers 29,475 11,344 40,819 397 41,217
Internal net sales between segments
or transfer amount 1 3 4 158 163
Total 29,477 11,347 40,824 555 41,380
Segment profit or loss ( - ) 2,979 1,430 4,409 50 4,459
11
(Note) The "Others" category refers to business segments not included in the reported segments, and includes equipment instal lation
contracts.
2. Difference between the total amount of profit or loss of reportable segments and the amount recorded in the quarterly cons olidated
statement of income, and the main contents of such difference (matters related to reconciliation of differences)
(Unit: Million yen)
Profit Amount
Total for reportable segments 4,409
Profit or loss ( - ) in the "Other" category 50
Elimination of inter - segment transactions 19
Corporate expenses (Note) (1,577)
Operating profit in the quarterly consolidated statement
of income 2,901
(Note) Company - wide expenses mainly consist of general and administrative expenses that are not attributable to any reportable
segment.
3. Information on Impairment losses of Non - current assets or Goodwill, etc. by reportable segment
(Significant impairment losses related to non - current assets)
There are no applicable matters.
(Significant changes in the amount of goodwill)
There are no applicable items.
(Significant gain on bargain purchase)
There are no applicable items.
12
(Notes in case of significant changes in the amount of shareholders' equity)
There are no applicable items.
(Notes regarding the assumption of a going concern)
There are no applicable items.
(Notes on quarterly consolidated statement of cash flows)
The quarterly consolidated statement of cash flows for the nine months ended September 30 has not been prepared. Depreciation
for the nine months ended September 30 (including amortization of intangible assets other than goodwill) is as follows.
For the nine months ended [previous
period end date]
(From January 1, 2024
until September 30, 2024
For the nine months ended
From January 1, 2025
until September 30, 2025
Depreciation 1,652 million yen 1,578 million yen