Airman (6364) Q1 2027 earnings summary

Executive summary

• Q1 FY2027 net sales rose 3.7% YoY to ¥13,743 million; operating profit, ordinary profit and net income each reached first-quarter records.

• Strong North American sales, price revisions and yen effects supported results, offsetting weakness in Asia and the Middle East, tariff costs and higher raw-material prices.

Financial highlights

• Operating profit rose 50.9% to ¥2,437 million; ordinary profit increased 67.9% to ¥2,589 million, and net income attributable to owners of the parent rose 63.3% to ¥1,781 million.

• Gross profit was ¥4,574 million, versus ¥3,636 million a year earlier; basic EPS was ¥66.11, versus ¥39.67.

• Weaker yen effects, higher sales and selling-price revisions supported profit; tariff costs, weaker markets outside North America and raw-material inflation were offsets.

• U.S. tariff refunds had minimal Q1 impact and are expected to benefit Q2; the refund is a temporary earnings factor.

Outlook and guidance

• Revised FY2027 forecast: net sales ¥60,200 million, operating profit ¥8,300 million, ordinary profit ¥8,700 million and net income ¥6,000 million; increases versus prior guidance were ¥1,700 million, ¥2,600 million, ¥2,900 million and ¥2,000 million, respectively.

• Revised H1 forecast: net sales ¥31,500 million, operating profit ¥5,500 million, ordinary profit ¥5,700 million and net income ¥4,000 million.

• Forecast assumes USD/JPY of ¥158, revised from ¥150; North American sales, margins and FX support the upgrade, partly offset by weaker markets, material inflation and tariffs.

• Medium-Term Vision 2027 net sales and profit targets are now expected one year ahead of the original schedule.

• FY2027 EPS forecast is ¥222.73; dividend guidance remains ¥72.00 per share.