GS Yuasa (6674) Q3 2026 earnings summary

Executive summary

• Net sales for the nine months ended December 31, 2025, rose 1.4% year-over-year to ¥433.0 billion, driven by growth in industrial batteries, power supplies, and domestic automotive batteries.

• Operating income increased 19.5% to ¥38.0 billion, and profit attributable to owners of parent grew 20.0% to ¥22.1 billion, supported by higher sales, price revisions, and gains on asset sales.

• Ordinary income increased 28.1% year-over-year, aided by improved foreign exchange gains and a gain on sales of fixed assets.

• Comprehensive income surged 44.5% year-over-year to ¥37,486 million.

• EPS rose 20.0% to ¥220.03, reflecting the strong profit growth.

Financial highlights

• Gross profit increased by ¥8.4 billion year-over-year to ¥108.0 billion.

• Operating income margin improved from 7.4% to 8.8% year-over-year.

• Extraordinary income rose by ¥1.3 billion, mainly from asset sales; extraordinary loss increased by ¥0.7 billion.

• Total assets reached ¥716,337 million, up ¥22,599 million from March 31, 2025.

• Net assets climbed to ¥415,687 million, with an equity ratio of 51.5%.

Outlook and guidance

• Upward revision to full-year operating income and profit forecasts, reflecting strong segment performance and business environment.

• Full-year net sales forecast is ¥600,000 million, with operating profit of ¥53,500 million and profit attributable to owners of parent of ¥36,000 million.

• Year-end dividend forecast raised to ¥60 per share, total annual dividend projected at ¥90 per share.

• Continued strong demand expected in automotive and industrial battery segments, with some challenges in Turkey and PHEV battery sales.

• Upward revision to earnings and dividend forecasts attributed to improved profitability and asset sales.