Shimano (7309) Q4 2026 earnings summary

Executive summary

• FY2025 consolidated sales rose 3.4% year-over-year to ¥466.2 billion, with operating income down 20.6% to ¥51.7 billion and net income attributable to owners of parent falling 55.5% to ¥34.0 billion.

• The global economy showed gradual recovery, but demand for bicycles and fishing tackle remained weak, impacting profitability.

• FY2026 sales are scheduled to be flat at ¥467.0 billion, with operating income projected to decline 9.1% to ¥47.0 billion and net income to rise 23.6% to ¥42.0 billion.

Financial highlights

• Gross profit margin decreased from 38.2% in FY2024 to 35.7% in FY2025, with gross profit at ¥166,616 million.

• Operating income margin dropped from 14.4% to 11.1% year-over-year.

• Ordinary income declined 52.3% to ¥47,029 million.

• Basic earnings per share was ¥1,252.62 in FY2025, down from ¥3,632 in FY2024.

• ROE for FY2025 was approximately 4%, with a target to reach at least 8% in the future.

Outlook and guidance

• FY2026 sales are scheduled at ¥467.0 billion, with operating income of ¥47.0 billion and net income of ¥42.0 billion.

• Dividend per share is scheduled to increase to ¥363 in FY2026, with a payout ratio of 75%.

• Total return ratio targeted at 194% for FY2026, with ongoing treasury stock acquisitions.