Furuno Electric (6814) Q3 2025 earnings summary

Executive summary

• Achieved strong sales growth in both Marine and Industrial businesses, with Marine business leading due to robust demand in Japan and overseas, especially for new and retrofitted commercial vessels.

• Profitability improved significantly, driven by higher equipment sales and better margins in maintenance services.

• Upward revision of full-year financial forecasts, reflecting continued strong demand and lower tax expenses.

• Revenue for the nine months ended November 30, 2024, was ¥93.6 billion, up 13.4% year-over-year, with operating profit rising 63.1% to ¥10.48 billion and net income attributable to shareholders up 39.3% to ¥8.54 billion.

• Growth was also supported by robust performance in industrial and wireless LAN segments.

Financial highlights

• Net sales for the nine-month period rose 13.4% year-over-year to ¥93,600 million.

• Operating profit increased 63.1% year-over-year to ¥10,481 million.

• Profit attributable to owners of parent grew 39.3% year-over-year to ¥8,538 million.

• Gross profit margin improved from 39.3% to 42.2% year-over-year, with gross profit up 21.9% to ¥39.5 billion.

• Equity ratio improved from 53.4% to 57.7% compared to the previous year.

Outlook and guidance

• FY2024 net sales forecast revised upward to ¥125,000 million, operating profit to ¥12,000 million, and profit attributable to owners of parent to ¥9,000 million.

• Full-year revenue forecast revised to ¥125 billion (up 8.8% year-over-year), with operating profit expected at ¥12.5 billion (up 84.0%) and net income at ¥9 billion (up 44.2%).

• Dividend forecast revised upward to ¥90 per share for FY2024.

• Expectation of continued strong demand in Marine business and lower tax expenses.