Archion (543A) Q4 2026 earnings summary

Executive summary

• Mitsubishi Fuso and Hino integration completed April 1, 2026; the combined business listed on the Tokyo Stock Exchange the same day under ticker 543A.

• FY 2026 marks the first outlook after integration, with priorities spanning integration, execution and initial synergy delivery.

• FY 2026 targets 230,000 units, JPY 2.425 trillion revenue, JPY 110 billion operating profit and 4.5% return on sales.

Financial highlights

• Hino FY 2025 J-GAAP revenue fell 7.8% to JPY 1,565,332 million, while operating profit rose 42.7% to JPY 82,063 million.

• Hino FY 2025 profit attributable to parent owners was JPY 84,401 million, versus a JPY 217,753 million loss a year earlier; lower certification losses and gains on investment securities supported the turnaround.

• Combined FY 2025 pro forma IFRS results: revenue JPY 2,246.0 billion, adjusted operating profit JPY 72.5 billion and net income JPY 114.5 billion.

Outlook and guidance

• FY 2026 targets 230,000 unit sales, up 6%; revenue of JPY 2,425.0 billion, up 8%; operating profit of JPY 110.0 billion, up 52%; and 4.5% return on sales.

• Operating profit improvement includes JPY 27.5 billion from volume and mix, JPY 19 billion from pricing, JPY 5 billion from complementary business and JPY 10.5 billion from efficiencies.

• Regional unit targets include Japan up 17% to 80,000 and Southeast Asia up 22% to 77,000; Middle East sales are forecast down 58% to 9,000.

• Return on sales targets rise to 7% by FY 2029 and more than 10% by FY 2032.

• FY 2026 net income forecast is JPY 70 billion attributable to parent owners; first-half profitability is expected below the second half, and the forecast excludes a potential one-time business-combination gain.