Yamazen (8051) Q1 2026 earnings summary

Executive summary

• Q1 FY2025 net sales rose 6.4% year-over-year to ¥126,136 million, driven by strong demand for heat stress prevention and environmental equipment amid extreme heat.

• Operating profit nearly doubled year-over-year to ¥1,732 million, with net profit attributable to owners up 183.9% to ¥1,823 million, aided by a gain on sales of policy stockholdings.

• All major business divisions except Global Business posted year-over-year sales growth; Building Materials led with a 17.0% increase.

• Comprehensive income declined sharply to ¥498 million from ¥2,901 million year-over-year, mainly due to negative foreign currency translation adjustments.

Financial highlights

• Gross profit increased 7.7% year-over-year to ¥19,114 million; gross margin improved by 0.2pt to 15.2%.

• SG&A expenses rose 2.9% year-over-year, but were offset by higher gross profit.

• Basic earnings per share rose to ¥21.37 from ¥7.24 year-over-year.

• Operating profit margin improved from 0.7% to 1.4% year-over-year.

• Total assets decreased to ¥282,000 million as of June 30, 2025, from ¥292,265 million at March 31, 2025.

Outlook and guidance

• Q2 FY2025 guidance revised upward: net sales now expected at ¥255,000 million (up from ¥250,000 million), operating profit at ¥4,000 million (up from ¥3,000 million).

• Full-year FY2025 guidance: net sales ¥530,000 million (+2.7% YoY), operating profit ¥9,000 million (-5.6% YoY), net profit ¥7,000 million (-10.8% YoY).

• Management remains cautious on full-year outlook due to market uncertainties from Q3 onward.

• Interim dividend forecast maintained at ¥20/share, with full-year dividend at ¥52/share.

• Earnings forecasts revised; details available in a separate notice released August 8, 2025.