GS Yuasa (6674) Q1 2026 earnings summary

Executive summary

• Net sales rose 3.4% year-over-year to ¥131.9 billion for Q1 FY2026, with operating income up 34.4% to ¥8.3 billion and EPS up 36.5% to ¥65.11, driven by industrial batteries, power supplies, and automotive lithium-ion batteries.

• Profit attributable to owners of parent grew 36.4% to ¥6,530 million, aided by gains from asset sales.

• Comprehensive income declined to ¥5,440 million from ¥13,055 million year-over-year, mainly due to negative foreign currency translation adjustments.

• Growth was supported by increased sales in Industrial Batteries and Power Supplies and Automotive Lithium-ion Batteries, as well as gains from the sale of vacant land.

Financial highlights

• Gross profit increased to ¥31.3 billion, with operating margin improving from 4.8% to 6.3%.

• Ordinary income rose 26.7% to ¥8.5 billion, and profit before income taxes reached ¥10.0 billion, up ¥3.3 billion year-over-year.

• Extraordinary income of ¥1.8 billion was recorded, mainly from asset sales.

• Total assets decreased to ¥672.5 billion from ¥693.7 billion at the previous fiscal year-end.

• Cash and deposits decreased by ¥17.3 billion due to investments, dividends, and tax payments.

Outlook and guidance

• Full-year FY2026 net sales are forecast at ¥600.0 billion, with operating income of ¥51.0 billion and EPS of ¥329.01.

• Interim dividend forecast at ¥30.00 per share, full-year at ¥80.00 per share.

• No significant revisions to the earnings forecast despite market and tariff policy changes; management notes forecasts are subject to change due to uncertainties.

• Sales in Japan and ASEAN expected to remain strong, while Turkey faces continued challenges.