Airman (6364) Q4 2026 earnings summary

Executive summary

• Achieved record highs in consolidated net sales, operating profit, ordinary profit, and profit attributable to owners, driven by strong North American sales and yen depreciation, offsetting domestic market weakness.

• Overseas construction machinery sales, especially in North America, offset domestic declines; new product launches targeted new markets.

• Both Construction Machinery and Industrial Machinery segments posted record sales and profits.

• Strategic inventory buildup and investments were made to capture expanding demand in North America.

Financial highlights

• Consolidated net sales: JPY 55.6 billion (+2.3% YoY); operating profit: JPY 7.1 billion (+11.2% YoY); ordinary profit: JPY 8.0 billion (+17.4% YoY); profit attributable to owners: JPY 5.6 billion (+17.4% YoY).

• Basic earnings per share increased to JPY 204.99 from JPY 172.16 YoY; comprehensive income grew 23.2% to JPY 6.92 billion.

• Overseas sales ratio reached 44.8%, with overseas sales up 4.8% to JPY 24.9 billion.

• Operating cash flow was negative at JPY -2.37 billion due to inventory buildup and earlier payments.

• Capital expenditures were slightly below plan due to investment schedule delays.

Outlook and guidance

• Next fiscal year net sales forecast: JPY 58.5 billion (+5.2% YoY); operating profit expected to decline to JPY 5.63 billion (-21.6% YoY) due to higher raw material costs, tariffs, and conservative assumptions for external risks.

• Assumed exchange rates: JPY 150/USD and JPY 170/EUR; ordinary profit sensitivity is JPY 136 million per JPY 1 movement.

• Dividend forecast maintained at JPY 72 per share.

• Continued focus on price pass-through, cost reduction, and expanding recurring revenue streams.