Furuno Electric (6814) investor relations material

Executive summary

• Net sales rose 21.8% year-over-year to ¥38.1B, driven by strong Marine and Industrial business growth, with operating profit up 65.3% to ¥5.7B and profit attributable to owners up 38.2% to ¥4.9B.

• Gross profit increased 23.8% year-over-year to ¥16.8B, and comprehensive income surged 93.4% to ¥5.2B.

• Q1 results exceeded initial expectations, but full-year guidance remains unchanged due to supply chain and geopolitical uncertainties.

• The company is in the first year of Phase 3 of its Mid-term Management Plan, focusing on proactive investment and transformation for sustainable growth.

Financial highlights

• Net sales: ¥38.1B (+21.8% year-over-year); operating profit: ¥5.7B (+65.3%); gross profit: ¥16.8B (+23.8%); profit attributable to owners: ¥4.9B (+38.2%).

• Operating profit margin improved to 14.9%; ordinary profit reached ¥6.3B (+61.7% year-over-year).

• Basic earnings per share increased to ¥154.44 from ¥111.75 year-over-year.

• Equity ratio improved to 64.2% from 63.2% sequentially.

• SG&A expenses rose 9.7% to ¥11.1B, reflecting investments in HR and growth.

Outlook and guidance

• Full-year forecast for FY2027 maintained: net sales ¥148.5B (+5.6% year-over-year), operating profit ¥17.0B (+4.6%), profit attributable to owners ¥13.0B (−22.3%).

• FY2026 forecast unchanged despite Q1 outperformance, citing ongoing supply chain and geopolitical risks.

• Dividend forecast for FY2027 is ¥160 per share, unchanged from the previous year.

• No deterioration in second-half business conditions implied, but a disciplined approach to forecasting is maintained.

• The company is monitoring supply chain developments and may revise forecasts if visibility improves.