MINEBEA MITSUMI (6479) Q2 2026 earnings summary

Executive summary

• Net sales for 1H FY3/26 reached a record ¥778.3B, nearly flat YoY, while operating income declined 5.1% to ¥44.4B and profit attributable to owners rose 14% to ¥28.6B.

• 2Q FY3/26 net sales were ¥411.4B (+12.1% QoQ, -2.7% YoY) and operating income was ¥27.0B (+54.6% QoQ, -3.3% YoY).

• Comprehensive income surged 138.5% YoY to ¥50.9B, driven by FX gains.

• Profitability improved through automation and price correction, despite external uncertainties and FX headwinds.

• Full-year forecast revised upward: net sales ¥1.55T (+1.8% YoY), operating income ¥100B (+5.8% YoY), EPS ¥176.80 (+19.8% YoY).

Financial highlights

• 2Q profit before taxes: ¥24.8B (+39.4% YoY, +59.0% QoQ); profit for the period: ¥17.7B (+48.4% YoY, +62.5% QoQ); EPS: ¥44.07 (+49.2% YoY, +62.5% QoQ).

• 1H operating income: ¥44.4B (-5.1% YoY), profit before taxes: ¥40.4B (+12.1% YoY), profit for the period: ¥28.6B (+14.0% YoY).

• Gross profit for 1H: ¥135.7B, gross margin 17.4%.

• Cash and cash equivalents at period-end: ¥222.0B, up ¥7.7B from March 31, 2025.

• Interim dividend increased by ¥5 YoY; annual dividend planned at ¥50/share.

Outlook and guidance

• Full-year forecast revised upward due to minimal impact from U.S. reciprocal tariffs; over 80% of cost passed to customers.

• Data center-related business and PT segment expected to remain strong in 2H.

• SE segment anticipates 2H adjustments but full-year profit growth.

• AS segment targets earnings boost in 2H via productivity and new products.

• Year-end dividend planned at ¥25/share, targeting a payout ratio of around 30%.