EIZO (6737) Q2 2026 earnings summary

Executive summary

• Net sales for the first half of FY2025 reached JPY 37,874M, up 2.9% year-over-year, with growth in Healthcare, Amusement, and Other segments offsetting declines in B&P, Creative Work, and V&S, and sluggish demand in Europe.

• Operating profit declined to JPY 659M, down 20.5% year-over-year, mainly due to higher SG&A expenses from wage increases, new Technology Hub costs, and sales expansion in India and the Middle East.

• Net income attributable to owners rose to JPY 930M, up 31.2% year-over-year, aided by foreign exchange gains compared to losses in the prior year.

• Ordinary profit increased 39.4% to JPY 1,492M, supported by FX gains.

• Demand and profitability are expected to be stronger in the second half, consistent with historical seasonality.

Financial highlights

• Net sales: JPY 37,874M (102.9% YoY); gross profit: JPY 12,346M (103.1% YoY); gross margin: 32.6% (up 0.1pt YoY).

• Operating profit: JPY 659M (79.5% YoY); operating margin: 1.7% (down 0.5pt YoY).

• Ordinary profit: JPY 1,492M (139.4% YoY); profit attributable to owners: JPY 930M (131.2% YoY).

• SG&A expenses increased 4.9% YoY to JPY 11,686M, driven by personnel, new Technology Hub costs, and expanded sales activities.

• Basic EPS was JPY 22.61, up from JPY 17.24 after a 2-for-1 share split.

Outlook and guidance

• FY2025 full-year guidance maintained: net sales JPY 85B (+5.6% YoY), operating profit JPY 4.8B (+29.5% YoY), net income JPY 4.4B (+6.1% YoY), EPS JPY 106.90.

• Sales and profits expected to be concentrated in the second half, especially in Healthcare (Japan) and V&S (overseas) segments.

• Strict control over fixed costs to be enforced.

• No revisions to previously announced forecasts.