Shimano (7309) Q1 2027 earnings summary

Executive summary

• FY2026 revised sales forecast is ¥467 billion, up 0.2% year-over-year from FY2025, with operating income projected at ¥47 billion, down 9.1% year-over-year.

• Net income attributable to owners is expected to rise 23.6% to ¥42 billion compared to FY2025.

• Net sales rose 3.6% year-over-year to 117,644 million yen, despite weak demand for bicycles and fishing tackle.

• Operating income dropped 35.6% to 10,400 million yen, while net income attributable to owners of parent surged 30.9% to 12,814 million yen, aided by extraordinary gains.

• Comprehensive income reached 20,158 million yen, reversing a loss in the prior year.

Financial highlights

• FY2026 gross profit margin is forecast at 35.3%, slightly down from 35.7% in FY2025.

• Operating income margin is expected at 10.1%, down from 11.1% in FY2025.

• FY2026 sales: Bicycle Components ¥350 billion, Fishing Tackle ¥116.5 billion, Others ¥0.5 billion.

• FY2026 EPS is projected at ¥1,600, up from ¥1,252.62 in FY2025.

• Basic earnings per share increased to 148.45 yen from 110.20 yen.

Outlook and guidance

• Full-year net sales forecast maintained at 467,000 million yen; operating income forecast at 47,000 million yen.

• Net income guidance raised to 42,000 million yen due to extraordinary gains; EPS forecast at 488.19 yen.

• Impact of Middle East tensions and crude oil price surge not yet factored into forecasts.

• Management notes forecasts are based on current assumptions and actual results may differ due to various factors.