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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Rinnai
Rinnai (5947) investor relations material
Rinnai Q2 2027 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2027 earnings summary5 Nov, 2026
Executive summary
H1 FY2027 net sales reached a record ¥239,920 million, up 10.9% YoY; operating income fell 5.2% to ¥21,541 million and parent net income fell 12.6% to ¥13,908 million.
Overseas growth and yen depreciation supported revenue, while higher raw material costs and a sharp profit decline in China weighed on earnings.
Financial highlights
Ordinary income decreased 9.7% to ¥22,822 million; income before taxes was ¥22,525 million versus ¥26,362 million in H1 FY2026.
Gross profit was ¥83,502 million versus ¥75,936 million; SG&A was ¥61,961 million versus ¥53,210 million.
Product sales: water heaters ¥138,754 million (+8.2%), kitchen appliances ¥48,324 million (+8.1%), air-conditioning appliances ¥12,250 million (+14.0%) and commercial equipment ¥6,186 million (+20.8%).
Raw materials had a ¥4,960 million adverse impact on operating income; cost reductions added ¥3,460 million and FX added ¥870 million.
Comprehensive income rose 130.5% to ¥23,718 million, supported by positive foreign currency translation adjustments.
Outlook and guidance
FY2027 forecasts unchanged: net sales ¥500,000 million (+6.3%), operating income ¥50,500 million (-0.1%), ordinary income ¥54,100 million (-6.2%) and parent net income ¥36,300 million (+0.4%).
FY2027 EPS forecast is ¥262.71; dividends are forecast at ¥53 per share for the second quarter and ¥106 for the full year.
H1 results exceeded plan excluding U.S. tariff refunds; forecasts remain exposed to raw material prices and developments in China.
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Latest events from Rinnai
- Record-high sales driven by overseas growth and M&A, but margins pressured by rising costs.5947
Q1 2027 - Record sales and profits, with strong cost controls and strategic expansion amid global risks.5947Q4 2026
- Record-high profit and sales, strong Japan/US/Australia growth, and strategic acquisition.5947Q3 2026
- Record-high earnings and a Peru acquisition highlight global growth despite China declines.5947Q2 2026
- Record-high sales and operating income driven by high-value-added products and efficiency demand.5947Q1 2026
- Record Q1 sales and profit surge, with robust outlook and higher dividend planned.5947Q1 2025
- Record-high sales and profits achieved, led by strong growth in Japan and the US.5947Q2 2025
- Record sales and profit growth, strong outlook, and major share buyback despite global risks.5947Q4 2025
- Record-high earnings and increased dividends amid strong demand and regional disparities.5947Q3 2025
Next Rinnai earnings date
Q3 20275 Feb, 2027
Rinnai
Next Rinnai earnings date
Q3 20275 Feb, 2027
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Frequently asked questions
Rinnai Corporation is a Japanese multinational company specializing in the manufacture of gas appliances. Established on September 1, 1920, by Hidejiro Naito and Kanekichi Hayashi, Rinnai has grown to become a significant player in the home appliance industry. The company's product lineup includes energy-efficient tankless water heaters, home heating appliances, kitchen appliances, and commercial-use equipment like rice cookers, grillers, and fryer. The company is headquartered in Nagoya, Japan, and its shares are listed on the Tokyo Stock Exchange.