MISUMI Group (9962) Q4 2025 earnings summary

Executive summary

• Achieved record-high FY24 revenue of ¥401,987 million, driven by digital initiatives, robust demand in Asia (especially China and Japan), and gradual demand recovery, though profit targets were impacted by rising costs and regional challenges.

• All business segments posted revenue growth, with FA, communications, and digital initiatives like meviy leading gains.

• Overseas sales grew 14.1% year-over-year, offsetting sluggish performance in Europe and the US; China and Asia showed strong growth.

• Continued investment in IT, production, and logistics, and expanded product and service offerings.

Financial highlights

• FY24 revenue: ¥401,987 million (+9.3% YoY); operating income: ¥46,480 million (+21.2% YoY); net income: ¥36,549 million (+29.8% YoY).

• Gross profit increased to ¥186,990 million from ¥167,377 million YoY.

• Cash and cash equivalents at year-end were ¥128,259 million, down ¥5,117 million from the previous year.

• Cash flows from operating activities were ¥60,461 million, up from ¥54,567 million YoY.

• Dividend per share for the year was ¥43.21, with a payout ratio of 32.5%.

Outlook and guidance

• FY25 revenue forecast: ¥400,000 million (−0.5% YoY); operating income: ¥43,500 million (−6.4% YoY); net income: ¥32,000 million (−12.4% YoY).

• Guidance reflects expected impact from US tariffs, global capital investment decline, and assumes FX rates of ¥139/USD, ¥153/EUR, ¥19.3/RMB.

• Operating margin expected to remain above 10% despite cost and tariff headwinds.

• Guidance does not include impact from Fictiv acquisition, which is under review.