Toyota Industries (6201) investor relations material

Toyota Industries Q2 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Q2 2026 earnings summary4 Nov, 2025

Executive summary

  • Second quarter net sales rose to ¥2,058.6 billion, but operating profit dropped 70% to ¥37.5 billion due to engine certification costs, U.S. tariffs, and a large provision for a U.S. class-action lawsuit.

  • Profit before income taxes fell 44% to ¥107.1 billion, and profit attributable to owners decreased 38% to ¥91.1 billion.

  • Comprehensive income rebounded to ¥512.6 billion from a prior-year loss, driven by recovery in financial asset values.

  • Full-year profit guidance was revised downward, with net sales supported by a weaker yen but profitability pressured by higher costs and lower unit sales.

  • Settlement costs and customer response expenses related to the U.S. forklift engine certification issue, as well as U.S. tariffs, led to higher revenue but lower profit.

Financial highlights

  • Net sales for 2Q FY2026 rose 2.1% year-over-year to ¥2,058.6 billion; operating profit dropped 70.3% to ¥37.5 billion.

  • Profit before income taxes: ¥107.1 billion; net profit: ¥91.1 billion.

  • Total assets: ¥10,149.1 billion; total equity: ¥5,432.8 billion; equity ratio: 52.8%.

  • Capital investment: ¥91.9 billion; depreciation: ¥58.1 billion.

  • Cash and cash equivalents increased 25% to ¥474.4 billion; net cash from operating activities surged to ¥196.6 billion.

Outlook and guidance

  • Full-year FY2026 forecasts: net sales of ¥4,000.0 billion (+2.1%), operating profit of ¥100.0 billion (–54.9%), pre-tax profit of ¥230.0 billion (–34.6%), and net profit of ¥180.0 billion (–31.4%).

  • Forecasts revised downward due to settlement and customer support costs related to the U.S. class-action lawsuit and engine certification issue.

  • US tariffs expected to reduce full-year profit by ¥25 billion, mainly impacting the industrial vehicle segment.

  • Exchange rate assumptions for Q3 onward: ¥145/USD and ¥165/EUR.

  • Lower unit sales expected, but weaker yen supports sales; profit outlook reduced due to ongoing cost pressures.

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Frequently asked questions

Toyota Industries Corporation is a Japan-based conglomerate primarily engaged in the manufacturing and sale of industrial equipment, automotive components, and logistics solutions. The company's operations include the production of forklifts and material handling systems, engines, car air-conditioning compressors, and electronic parts for automotive applications. Toyota Industries is also a significant shareholder in Toyota Motor Corporation and supports the automotive industry through its vehicle assembly and component manufacturing. The company is headquartered in Kariya, Japan, and its shares are listed on the Tokyo Stock Exchange.

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