Furuno Electric (6814) Q4 2025 earnings summary

Executive summary

• Achieved record-high consolidated net sales of ¥126,953 million, up 10.5% year-over-year, and operating profit of ¥13,181 million, up 102.2% year-over-year, surpassing mid-term management targets for FY2024.

• Net income attributable to owners of parent rose 83.6% to ¥11,457 million, with all profit stages exceeding forecasts.

• Surpassed management vision targets for sales and operating margin six years ahead of schedule.

• Significant profit growth driven by strong marine equipment sales in Asia and expanded maintenance services.

• ROE improved to 17.2%, with payout ratio at 30.3%.

Financial highlights

• Net sales rose 10.5% year-over-year to ¥126,953 million.

• Operating profit more than doubled to ¥13,181 million (+102.2% YoY), with margin improving to 10.4%.

• Gross profit increased 24.4% year-over-year to ¥52,969 million, with margin improving from 37.1% to 41.7%.

• Profit attributable to owners of parent increased 83.6% to ¥11,457 million.

• Free cash flow turned positive at ¥6,231 million; cash and equivalents at year-end rose to ¥15,413 million, up ¥4,255 million from prior year.

Outlook and guidance

• FY2025/2026 net sales forecasted at ¥127,500 million (+0.4% YoY), with operating profit expected to decline 12.8% to ¥11,500 million due to higher SG&A and a stronger yen.

• Net income for FY2026 forecasted at ¥9,000 million (–21.4%).

• Profit margin to remain close to 10%; dividend maintained at ¥110 per share.

• Assumes exchange rates of USD 1 = JPY 145 and EUR 1 = JPY 157.

• Continued investment in maintenance services, digital transformation (DX), and human capital.