Shoei (7839) Q4 2025 earnings summary

Executive summary

• Net sales declined 9.6% year-over-year to ¥32,363 million, with operating income down 13.9% and net income down 14.4% due to lower unit sales and higher costs.

• Sales volumes fell in all regions, with notable declines in Japan and Europe due to inventory adjustments and lack of new model launches.

• Global economic uncertainty, high prices, and geopolitical tensions dampened consumer sentiment, impacting demand in key markets.

Financial highlights

• Net sales decreased by ¥3,427 million (-9.6%) to ¥32,363 million compared to the previous year.

• Operating income dropped by ¥1,431 million (-13.9%) to ¥8,899 million year-over-year.

• Profit attributable to owners of parent fell by ¥1,059 million (-14.4%) to ¥6,318 million.

• Net assets increased to ¥32,236 million, with total assets at ¥37,848 million.

• Cash and cash equivalents at period end: ¥19,942 million, up from ¥15,352 million.

Outlook and guidance

• Net sales for FY ending September 2026 are forecast to rise by 4.9% to ¥33,950 million, driven by higher unit sales.

• Operating income and net income are projected to decrease by 5.9% and 6.0%, respectively, due to U.S. tariffs and reduced unrealized profit impact.

• Dividend per share planned at ¥60, unchanged from the prior year, despite expected profit decline and share buybacks.

• Sales volume is expected to increase by 25,000 units, with growth in Japan, Europe, and China.