HORIBA (6856) Q2 2026 earnings summary

Executive summary

• Net sales for the first half of 2026 rose 20.8% year-over-year to ¥179,853 million, with operating income up 39.3% to ¥30,488 million and net income attributable to shareholders up 37.5% to ¥21,806 million.

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

Financial highlights

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

• Operating income margin rose from 14.7% to 17.0% 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.

• Net assets grew to ¥365,264 million, with a stable shareholders' equity ratio of 67.1%.

Outlook and guidance

• Full-year 2026 net sales forecast is ¥382,000 million, up 14.7% year-over-year, with operating income projected at ¥70,000 million (+32.0%) and net income at ¥50,000 million (+34.8%).

• Dividend forecast for FY2026 is ¥640 per share, including a special and commemorative dividend due to market capitalization milestone.