Yamazen (8051) Q4 2025 earnings summary

Executive summary

• Net sales increased 1.8% year-over-year to ¥516.1 billion, driven by steady performance in Production Equipment and Building Materials businesses.

• Operating profit declined 3.6% to ¥9,535 million due to higher SG&A expenses from growth investments and increased personnel/logistics costs.

• Profit attributable to owners of parent grew 20.9% year-over-year to ¥7,845 million, aided by a gain on sales of policy stockholdings.

• Comprehensive income declined 62.2% year-over-year to ¥4,695 million, reflecting a significant drop in other comprehensive income.

Financial highlights

• Net sales: ¥516,126 million (+1.8% YoY); gross profit: ¥76,969 million (+3.5% YoY); operating profit: ¥9,535 million (-3.6% YoY).

• Gross profit margin improved to 14.9% (+0.2pt YoY); operating profit margin decreased to 1.8% (-0.1pt YoY).

• Ordinary profit: ¥10,018 million (-4.0% YoY); profit attributable to owners: ¥7,845 million (+20.9% YoY).

• Cash and cash equivalents at year-end decreased to ¥74,841 million from ¥88,477 million.

• Cash flows from operating activities were ¥8,361 million, down from ¥11,156 million year-over-year.

Outlook and guidance

• FY3/26 net sales projected at ¥530 billion (+2.7% YoY); operating profit forecast to decline 5.6% to ¥9 billion.

• Profit attributable to owners forecast at ¥7 billion (-10.8% YoY); ordinary profit expected at ¥9 billion (-10.2% YoY).

• Sales growth expected from strengthened sales capabilities and market share expansion, but profit pressured by ERP/logistics amortization and rising costs.

• Interim and year-end dividends for FY2026 are forecast at ¥20.00 and ¥32.00 per share, respectively.

• Annual dividend maintained at ¥52 per share for both FY3/25 and FY3/26.