HORIBA (6856) Q2 2026 earnings summary

Executive summary

• First half of 2026 saw record-high sales and profits, with net sales up 20.8% year-over-year to ¥179,853 million, operating income up 39.3% to ¥30,488 million, and net income attributable to shareholders up 37.5% to ¥21,806 million, driven by strong performance in Materials & Semiconductor.

• Comprehensive income surged 362.7% year-over-year to ¥31,927 million, reflecting strong operational and financial performance.

• Production at the Aso Factory resumed quickly after the Kumamoto earthquake, with limited financial impact.

• Upward revision of full-year forecasts, expecting record-high results for sales, operating profit, and net income.

Financial highlights

• 2026 first half sales reached ¥179.8B, up ¥30.9B year-over-year and ¥12.8B above previous forecasts.

• Operating profit for the first half was ¥30.4B, up ¥8.5B year-over-year, with margin improving to 17.0% from 14.7%.

• Net income attributable to shareholders was ¥21.8B, up ¥5.9B year-over-year.

• Gross margin improved as gross income increased from ¥66,713 million to ¥80,822 million year-over-year.

• Cash and cash equivalents at the end of the period increased to ¥169,865 million from ¥151,974 million a year earlier.

Outlook and guidance

• Full-year 2026 sales forecast revised upward to ¥382.0B, operating profit to ¥70.0B, and net income to ¥50.0B.

• Materials & Semiconductor segment forecasts revised upward based on strong order trends.

• Energy & Environment and Bio & Healthcare operating profit forecasts revised downward.

• Dividend forecast for FY2026 is ¥640 per share, including special and commemorative dividends for market capitalization milestone.