Hino Motors (7205) Q4 2025 earnings summary

Executive summary

• Net sales rose 11.9% year-over-year to 1,697.2 billion yen, driven by domestic recovery and Toyota business, despite overseas weakness.

• Operating income improved to 57.5 billion yen from a loss, aided by yen depreciation, higher domestic/Toyota sales, and asset sales.

• Net loss of 217.8 billion yen, mainly due to North America certification-related losses and Australian lawsuit settlement, partially offset by asset sales.

• No year-end dividend declared due to negative retained earnings and the need to restore financial standing.

Financial highlights

• Net sales: 1,697.2 billion yen, up 180.9 billion yen year-over-year.

• Operating income: 57.5 billion yen, up 65.6 billion yen year-over-year.

• Net loss: 217.8 billion yen, a decrease of 234.9 billion yen year-over-year.

• Gross profit increased to 295.7 billion yen from 233.6 billion yen year-over-year.

• Cash and cash equivalents at year-end rose to 88.4 billion yen, up 20.7 billion yen.

Outlook and guidance

• FY2026 global unit sales forecasted at 115,000 units, down 8.0% year-over-year.

• Net sales projected at 1,500.0 billion yen, down 11.6% from FY2025.

• Operating income expected to decline to 40.0 billion yen, down 30.4% year-over-year.

• Net income forecasted to recover to 20.0 billion yen, as certification-related losses are no longer expected.

• Dividend for FY2026 remains undetermined as financial recovery is prioritized.