F.C.C. (7296) Q4 2025 earnings summary

Executive summary

• FY25 revenue reached a record ¥256,619 million, up 6.8% YoY, and operating profit rose 14.7% to ¥17,329 million; operating margin improved to 6.8%.

• Profit attributable to owners of parent increased 29.7% to ¥15,859 million; ROE was 8.6%.

• Core business revenue, operating profit and ROE targets for the 12th MTMP were achieved one year ahead of schedule.

• Comprehensive income fell to ¥9,619 million from ¥28,778 million, reflecting negative other comprehensive income.

Financial highlights

• Basic EPS rose 31.7% to ¥323.77; gross profit increased to ¥49,305 million from ¥42,051 million.

• Profit before income taxes increased 4.6% to ¥20.1B; average USD/JPY rose to ¥152.58 from ¥144.63, while growth remained positive excluding FX effects.

• Operating profit increased ¥2.2B YoY on revenue, model mix and FX effects, partly offset by higher SG&A, including warranty costs.

• Total assets were ¥246,208 million and total equity was ¥185,444 million at March 31, 2025; cash and cash equivalents were ¥68,496 million.

• Operating cash flow was ¥27.9B and investing cash outflow was ¥2.2B; free cash flow was ¥25.8B.

Outlook and guidance

• No consolidated FY26 earnings forecast was issued amid U.S. tariff uncertainty; a separate forecast excluding tariff effects indicated revenue of ¥233.3B.

• FY26 MTMP targets are revenue ¥234.0B, operating profit ¥16.0B and ROE 8.0%; MTMP USD/JPY assumption is ¥135.00.

• FY26 segment outlook assumes USD/JPY ¥140.00 and a ¥20B adverse FX impact on revenue: ¥12B for motorcycles and ¥8B for automobiles.

• FY26 motorcycle outlook includes higher India clutch sales and EV/CASE growth; automobile sales are expected to decline in China and the U.S.

• FY26 shareholder return ratio target is at least 70%, above the MTMP target of 40%; planned dividend payout ratio is 50%.