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Mani (7730) investor relations material
Mani Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Net sales increased 5.1% year-over-year to ¥29,968 million, driven by strong surgical and eyeless needle sales, while dental sales declined due to a voluntary recall in China and weak performance in Europe.
Operating income declined 2.4% to ¥8,193 million, impacted by higher SG&A expenses and an impairment loss at the German subsidiary MMG.
Net income dropped 17.8% to ¥5,167 million, mainly due to the impairment loss and the China recall.
The recall in China was mostly completed by August 2025, with sales expected to resume in FY26 2Q.
Comprehensive income decreased 8.5% year-over-year to ¥5,589 million.
Financial highlights
Gross profit increased 7.9% year-over-year to ¥19,317 million; gross margin improved to 64.5% from 62.8%.
SG&A expenses rose 17.0% year-over-year to ¥11,124 million; SG&A ratio increased to 37.1% from 33.3%.
Operating income declined 2.4% to ¥8,193 million; ordinary income was ¥8,271 million, down 2.3%.
Extraordinary loss of ¥1,190 million recorded due to asset impairment at MMG.
Cash and cash equivalents at year-end were ¥17,401 million, down from ¥21,017 million.
Outlook and guidance
FY2026 forecasts net sales of ¥32,800 million (+9.4%), operating income of ¥9,200 million (+12.3%), and net income of ¥6,450 million (+24.8%).
Full resumption of dia-burs sales in China expected from FY26 2Q, supporting dental segment recovery.
Ongoing expansion in surgical and eyeless needle products, with growth in North America, Europe, and Asia.
Negative impact from U.S. tariff policy estimated at ¥200 million.
Strategic focus on growth, business investments, and strengthening management foundation.
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