TSE:5408Metals and Mining
Nakayama Steel Works (TSE:5408) Net Margin Compression Challenges Bullish Valuation Narratives
Nakayama Steel Works (TSE:5408) has just wrapped up FY 2026 with fourth quarter revenue of ¥38.6b and basic EPS of ¥14.65, alongside net income of ¥794m. Over recent quarters the company has seen revenue move from ¥40.1b in FY 2025 Q3 to ¥39.7b in FY 2025 Q4 and then to a range of about ¥33.1b to ¥38.9b through FY 2026. Quarterly EPS has ranged from a loss of ¥0.83 in FY 2026 Q3 to ¥19.97 in FY 2026 Q1, setting up a story where investors are likely to focus on how sustainably margins are...