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Rinnai (5947) investor relations material
Rinnai Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Record-high consolidated net sales of ¥102.7 billion, up 4.6% year-over-year, driven by high-value-added products and energy efficiency demand.
Operating income rose 11.2% year-over-year to ¥9.7 billion, despite higher raw material and energy costs.
Net income attributable to owners declined 2.9% year-over-year to ¥6.6 billion due to foreign exchange losses.
Ordinary income decreased 1.9% year-over-year to ¥10.6 billion, impacted by forex losses.
Comprehensive income turned negative at ¥(1,939) million, mainly due to foreign exchange translation losses.
Financial highlights
Operating income to net sales ratio improved to 9.4%, up 0.6pt year-over-year.
Net income to net sales ratio was 6.4%, down from 7.4% a year ago.
Net income per share: ¥47.15 (vs. ¥47.71 previous year).
Gross profit: ¥35,347 million; gross margin improved year-over-year.
Ordinary income to net sales ratio: 10.4%.
Outlook and guidance
Full-year net sales forecast at ¥470 billion (+2.1% year-over-year), operating income at ¥50 billion (+8.7%).
Net income for the year projected at ¥33 billion (+11.1% year-over-year).
Net income per share forecast: ¥237.37, reflecting a share buyback.
Dividend per share for FY2026 forecasted at ¥100.00 (up from ¥80.00 in FY2025).
No changes to interim and full-year forecasts.
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