Makita (6586) Q3 2026 earnings summary

Executive summary

• Revenue for the nine months ended December 31, 2025, was ¥568.8 billion, flat year-over-year, with overseas revenue up 3.2% and domestic revenue flat.

• Operating profit declined 7.4% year-over-year to ¥76.2 billion, mainly due to increased sales personnel and higher advertising and promotional expenses.

• Profit attributable to owners fell 7.0% to ¥57.5 billion.

• EPS declined to ¥216.57 from ¥229.88 year-over-year.

• Comprehensive income surged 77.6% year-over-year to ¥129.8 billion, driven by significant exchange differences.

Financial highlights

• Gross profit increased to ¥207.2 billion from ¥203.2 billion year-over-year.

• Cordless products accounted for 55% of total sales, with sales up 3% year-over-year in yen.

• OPE sales were up 1% in yen but down 2% in local currency.

• Inventory increased 8.6% year-over-year to 16.24 million units.

• Cash and cash equivalents increased to ¥285.1 billion, with inventories also rising to ¥386.6 billion.

Outlook and guidance

• Full-year FYE2026 revenue forecast is ¥760.0 billion, up 0.9% year-over-year.

• Operating profit is projected at ¥100.0 billion, and profit attributable to owners is expected to fall 8.0% to ¥73.0 billion.

• EPS for FYE2026 is forecast at ¥274.87, down from ¥294.90.

• Assumed exchange rates for the forecast: 150 yen/USD, 174 yen/EUR, 21.1 yen/RMB.

• Production and sales volumes are expected to decrease 4.3% and 4.0% year-over-year, respectively.