ShinMaywa Industries (7224) Q4 2026 earnings summary

Executive summary

• Orders received and net sales reached record highs, with orders up 12.2% year-over-year to ¥327,046 million and net sales up 7.0% to ¥285,024 million, marking consecutive years of growth.

• Operating profit increased 16.9% year-over-year to ¥16,329 million, ordinary profit up 20.6% to ¥16,324 million, and profit attributable to owners of parent up 28.5% to ¥11,507 million, all record highs.

• Dividend per share for FY2025 was revised upward to 56 yen, with a forecast of 58 yen for FY2026, marking six consecutive years of increases.

• Order backlog at year-end rose 13.2% to ¥360,826 million.

• Comprehensive income reached ¥16,436 million, up 66.3% year-over-year.

Financial highlights

• FY2025 orders received: ¥327.0 billion (+12.2% YoY); net sales: ¥285.0 billion (+7.0% YoY).

• Operating profit: ¥16.3 billion (+16.9% YoY); ordinary profit: ¥16.3 billion (+20.6% YoY); profit attributable to owners: ¥11.5 billion (+28.5% YoY).

• Basic earnings per share: ¥174.02 (vs. ¥135.61 prior year).

• Net assets: ¥125,687 million (up from ¥113,066 million); equity-to-asset ratio: 42.2%.

• Cash and cash equivalents at period end: ¥35,898 million (up from ¥28,282 million).

Outlook and guidance

• FY2026 forecast: net sales ¥312.4 billion (+9.6% YoY), operating profit ¥17.0 billion (+4.1% YoY), ordinary profit ¥15.5 billion (−5.0% YoY), profit attributable to owners ¥10.5 billion (−8.8% YoY), basic EPS ¥158.75.

• Orders received expected to reach a record high for the sixth consecutive year.

• Dividend per share forecasted at 58 yen, continuing the trend of annual increases.

• Assumptions exclude future changes in the Middle East situation; each ¥1 depreciation against USD increases operating profit by ¥80 million.

• Uncertainty remains due to geopolitical risks, raw material and logistics costs, and yen depreciation.