Airman (6364) Q1 2026 earnings summary

Executive summary

• Net sales for Q1 FY2026 were ¥13,254 million, up 0.4% year-over-year, marking a record high for the first quarter despite a challenging economic environment and rising costs.

• Operating profit declined 5.1% to ¥1,614 million, and ordinary income dropped 30.8% to ¥1,542 million, mainly due to foreign exchange losses and the absence of prior-year yen depreciation benefits.

• Profit attributable to owners of parent decreased 29.7% to ¥1,090 million.

• The company launched a new three-year medium-term management plan, focusing on overseas construction machinery and domestic industrial machinery as core growth areas.

Financial highlights

• Gross profit increased to ¥3,637 million from ¥3,555 million year-over-year.

• Basic earnings per share declined to ¥39.67 from ¥55.89 year-over-year.

• Comprehensive income for the quarter was ¥1,365 million, down from ¥1,968 million in the prior year.

• Domestic construction machinery sales fell, but overseas construction and domestic industrial machinery offset the decline.

• Overseas sales ratio increased to 45.5% from 44.3% year-over-year.

Outlook and guidance

• FY2026 full-year sales forecast is ¥55,000 million, up 1.2% from the previous year, with profit attributable to owners of parent at ¥4,870 million (+2.2% YoY).

• Operating profit is projected at ¥6,920 million (+7.1%), and ordinary income at ¥7,000 million (+2.5%).

• EPS forecast is ¥177.09, with a focus on expanding overseas sales and strengthening domestic industrial machinery.

• Dividend forecast for FY2026 is ¥60 per share, up from ¥57 in FY2025.

• Assumed exchange rates: USD/JPY 145, EUR/JPY 160; exchange rate sensitivity noted.