Alps Alpine (6770) Q3 2025 earnings summary

Executive summary

• Net sales for the nine months ended December 31, 2025, rose 2.8% year-over-year to ¥761.1 billion, with operating income up 31.5% to ¥33.2 billion and profit attributable to owners of parent up 141.7% to ¥23.9 billion.

• Sales and operating income exceeded forecasts, aided by a weaker yen and increased recovery of development costs from customers.

• Business environment remained uncertain due to US tariffs and economic slowdowns in Europe and China, but risk mitigation and alternative sourcing limited direct impacts.

• Upward revision to full-year forecast based on strong Q3 performance; year-end dividend forecast raised.

Financial highlights

• Net sales for 3Q cumulative rose to ¥761.1 billion, up ¥20.5 billion year-over-year.

• Operating income increased by ¥7.9 billion to ¥33.2 billion, a 31.5% rise year-over-year.

• Ordinary profit increased 64.6% year-over-year to ¥40.2 billion.

• Comprehensive income surged 165.3% to ¥55.6 billion.

• Basic and diluted EPS for the nine months were ¥119.27, up from ¥48.20 year-over-year.

Outlook and guidance

• Full-year net sales forecast revised to ¥1,010.0 billion, up 2.0% year-over-year.

• Operating income forecast at ¥37.0 billion (up 8.5%), ordinary profit at ¥42.0 billion (up 37.6%), and profit attributable to owners of parent at ¥21.0 billion (down 44.5%).

• Year-end dividend forecast increased to ¥32.00 per share, scheduled for late June 2026.

• Basic earnings per share forecast at ¥104.53.

• Fourth quarter estimates based on USD/JPY = ¥155.0, EUR/JPY = ¥180.0, CNY/JPY = ¥22.0.