F.C.C. (7296) Q2 2026 earnings summary

Executive summary

• H1 FY2026 revenue was ¥126.375bn, down 0.7% YoY; operating profit rose 1.1% to ¥10.135bn, a record, and profit attributable to owners of parent rose 16.4% to ¥8.965bn.

• Excluding the ¥6.4bn adverse FX impact, H1 revenue would have been the highest ever; motorcycle sales growth in India and automobile sales growth in North America supported results.

• Comprehensive income increased to ¥10.029bn from ¥650m a year earlier.

Financial highlights

• H1 profit before tax rose 7.8% to ¥11.055bn; basic EPS increased 18.6% to ¥185.13 from ¥156.07.

• H1 gross profit was ¥23.044bn, down from ¥23.751bn YoY; profit margin attributable to owners of parent improved to 7.1% from 6.0%.

• Total assets at September 30, 2025 were ¥248.7bn; equity attributable to owners of parent was ¥189.297bn, or 76.1% of total assets.

• Cash and cash equivalents at period-end were ¥61.528bn, down from ¥68.496bn at the previous fiscal year-end.

Outlook and guidance

• FY2026 guidance was raised from August’s ¥237bn revenue and ¥15bn operating profit to ¥244bn and ¥16bn, reflecting motorcycle business strength, including India and Brazil.

• FY2026 forecast profit attributable to owners of parent is ¥12.8bn, basic EPS ¥264.29, and average USD exchange rate ¥145.52; revenue and operating profit forecasts are down 4.9% and 7.7% YoY, respectively.

• H2 forecast revenue is ¥117.625bn and operating profit ¥5.865bn, based on a ¥145 USD rate; operating profit faces customer, production and seasonal factors.

• FY2026 operating margin is forecast at 6.6% versus 6.8% in FY2025; forecast ROE is 6.8% versus the medium-term plan’s original 8.0% target.