Nissha's half-year sales came in above its own forecast, and it still ended up with a loss. The Kyoto-based maker of decorative films, touch sensors and medical components said on 30 September 2026 that revenue for January to June was ¥96.03bn against a May forecast of ¥94.0bn, a beat of 2.2%. Operating profit, guided at ¥1.8bn, came in as a ¥4.5bn loss. Tokyo Brief earlier covered Nissha's half-year report deadline.
Where the forecast missed
Nissha blames the profit miss on a goodwill impairment at USM HEALTHCARE MEDICAL DEVICES FACTORY JOINT STOCK COMPANY. It says the charge pushed operating profit, pre-tax profit and profit attributable to owners below forecast. The shortfall against the May forecast was ¥6.3bn at the operating line. Pre-tax profit was a ¥4.81bn loss against a guided ¥1.3bn profit. Profit attributable to owners was a ¥5.47bn loss against a guided ¥300mn profit. Basic loss per share was ¥115.44, against an expected profit of ¥6.33. In the same period a year earlier, operating profit was ¥2.56bn.
The company says revenue beat the forecast because demand held up in industrial materials and medical.
A full-year guide that flips to loss
The revised full-year forecast, for the year to December 2026, cuts revenue by 1.5% to ¥195.0bn. It turns the guided ¥7.0bn operating profit into a ¥3.3bn operating loss, and the guided ¥3.2bn attributable profit into a ¥6.2bn loss. The prior year's operating profit was ¥4.04bn, and profit attributable to owners was ¥1.0bn.
| Metric | Previous forecast | Revised forecast |
|---|---|---|
| Revenue | ¥198.0bn | ¥195.0bn |
| Operating profit (loss) | ¥7.0bn | -¥3.3bn |
| Pre-tax profit (loss) | ¥5.7bn | -¥4.4bn |
| Profit (loss) attributable to owners | ¥3.2bn | -¥6.2bn |
| Basic earnings (loss) per share | ¥67.49 | -¥130.68 |
The revenue cut has a separate cause. Nissha no longer expects the recovery in tablet demand for its devices business that it had pencilled in for the second half. On profit, the company says the interim goodwill impairment works alongside demand trends and production-related costs in the decorative field of industrial materials. It does not split the ¥10.3bn operating-profit cut among them. The new forecast also assumes ¥155 to the dollar, against ¥150 in the previous forecast.
What the notice leaves open
The notice points to a separate 30 September announcement for the impairment itself and does not give the charge amount. It also says nothing about any accounting issue at USM. Readers should not treat the impairment as the whole of the loss: the company lists demand and cost factors in its reasons for the full-year cut.