Shimano (7309) Q2 2026 earnings summary

Executive summary

• FY2025 revised sales forecast at ¥460 billion, up 2% year-over-year, with operating income projected at ¥46 billion, down 29% from FY2024 results.

• Net income attributable to owners expected to decline 52%–60% year-over-year to ¥30.5 billion, mainly due to foreign exchange losses and lower profit margins.

• Downward revision from previous FY2025 schedule, mainly due to weaker overseas bicycle components sales and ongoing inventory adjustments.

• Comprehensive income turned negative at (12,945) million yen for the first half, compared to 109,195 million yen in the prior year period.

Financial highlights

• FY2024 sales: ¥450.99 billion; FY2025 revised forecast: ¥460 billion.

• FY2024 operating income: ¥65.09 billion; FY2025 revised: ¥46 billion.

• FY2024 net income: ¥76.33 billion; FY2025 revised: ¥30.5 billion.

• Basic EPS projected to fall from ¥1,408.22 in FY2024 to ¥549.76 in FY2025; interim EPS for first half FY2025 at 44.90 yen.

• Cash and cash equivalents at period-end were 458,743 million yen, down 71,566 million yen from the previous year-end.

Outlook and guidance

• FY2025 sales guidance lowered by ¥10 billion from previous schedule, reflecting softer demand in key overseas markets and inventory adjustments.

• Operating income guidance cut by ¥18.6 billion versus previous plan.

• Management cautions that actual results may differ materially due to market uncertainties, including foreign exchange losses.

• Full-year dividend forecast raised to 339 yen per share, with interim and year-end dividends of 169.50 yen each.