Yamazen (8051) Q2 2026 earnings summary

Executive summary

• Q2 FY2025 net sales rose 4.4% year-over-year to 259,844 million yen, with operating profit up 48.4% and profit attributable to owners of parent up 62.9%.

• Comprehensive income surged 651.8% year-over-year, reaching 4,594 million yen.

• Upward revisions to first-half and full-year profit forecasts were made due to strong sales, cost controls, and tax estimate reviews, while net sales forecasts remained unchanged.

Financial highlights

• Gross profit increased 6.4% year-over-year to 39,755 million yen, with gross margin improving by 0.3 points to 15.3%.

• Ordinary profit for Q2 was 5,413 million yen, up 54.9% year-over-year.

• Basic earnings per share improved to 49.12 yen from 29.35 yen year-over-year.

• Net cash provided by operating activities was 996 million yen, down from 3,970 million yen year-over-year.

• Achievement rates for Q2 reached 49.0% of full-year net sales and 51.1% of full-year operating profit forecasts.

Outlook and guidance

• Full-year FY2025 net sales forecast is 530,000 million yen (+2.7% YoY), with operating profit forecast at 10,000 million yen (+4.9% YoY).

• Profit attributable to owners of parent is forecast at 7,150 million yen, down 8.9% year-over-year.

• Management expects continued growth by leveraging business foundations and expanding market share, despite an uncertain economic environment.

• Medium-term plan targets 600,000 million yen in net sales and 16,000 million yen in operating profit by FY2027.

• Annual dividend forecast remains at 52 yen per share.