AS ONE (7476) Q2 2026 earnings summary

Executive summary

• Net sales for the first half reached ¥51.4 billion, up 5.7% year-over-year, marking the 16th consecutive year of growth and a record high for the 15th year.

• Operating profit rose 14.2% year-over-year to ¥6.0 billion, and net income increased 13.2% to ¥4.3 billion, both achieving record highs.

• Growth was driven by expanded product offerings, digitalization, strong e-commerce, and logistics enhancements, despite a challenging medical sector.

• Comprehensive income surged 87.8% year-over-year to ¥5,791 million.

Financial highlights

• Gross profit increased 6.9% year-over-year to ¥15.7 billion, with a gross margin of 30.6%.

• Operating profit margin improved to 11.7% from 10.8% in the prior year.

• EPS rose 13.1% year-over-year to ¥60.38.

• SG&A expenses grew 2.8% year-over-year to ¥9.7 billion, but the SG&A ratio declined by 0.5 percentage points to 18.9%.

• Ordinary profit reached ¥6,253 million, up 12.1% year-over-year.

Outlook and guidance

• Full-year net sales forecast is ¥108.9 billion, up 5.0% year-over-year, with operating profit projected at ¥12.5 billion (+7.9%) and net income at ¥8.9 billion (+8.6%).

• Basic EPS for the year is projected at ¥124.77.

• Gross profit for the year is forecast at ¥33.1 billion (+5.7% year-over-year), maintaining a gross margin of 30.4%.

• SG&A expenses expected to rise to ¥20.6 billion (+4.4% year-over-year) due to higher personnel costs and facility relocation.

• Research and Industrial Instruments Division expected to maintain solid growth; Medical Instruments Division faces continued headwinds.