Daikin Industries (6367) Q3 2026 earnings summary

Executive summary

• Net sales for the nine months ended December 31, 2025, rose 2% year-over-year to ¥3,666.3 billion, with operating profit down 3.4% to ¥307.9 billion and ordinary profit up 5% to ¥305.7 billion.

• Profit attributable to owners of parent increased 4.6% year-over-year to ¥195.4 billion, and comprehensive income surged 50.5% to ¥449.0 billion.

• Earnings per share for the period were ¥667.22, up from ¥637.72 in the prior year.

• U.S. tariffs had a direct negative impact on operating profit, partially offset by pass-through pricing and cost reductions.

Financial highlights

• Gross profit increased to ¥1,275.3 billion from ¥1,231.5 billion year-over-year.

• Net assets grew to ¥3,219.1 billion as of December 31, 2025, from ¥2,866.7 billion at March 31, 2025.

• Total assets increased to ¥5,670.2 billion from ¥5,133.4 billion at the previous fiscal year-end.

• Cash and cash equivalents at period-end were ¥768.2 billion, up from ¥735.4 billion a year earlier.

• Excluding FX effects, net sales grew 3% and operating profit 1% year-over-year.

Outlook and guidance

• Full-year FY2025 operating profit forecast revised to ¥413 billion, aiming for profit growth in Q4.

• Net sales forecast for FY2025 is ¥4,920 billion, up 4% year-over-year.

• Profit attributable to owners of parent forecast at ¥268.0 billion; earnings per share forecast at ¥915.29.

• Dividend forecast for the fiscal year ending March 31, 2026, is ¥330 per share, unchanged from the previous year.

• Focus on expanding high value-added products, cost reductions, and efficiency improvements ahead of FY2026.