Hoshizaki (6465) Q1 2026 earnings summary

Executive summary

• Achieved record-high Q1 FY2026 sales of ¥135.6 billion, up 14.7% year-over-year, with margin improvements and robust demand across all regions and markets.

• Adjusted operating income rose 19.0% to ¥20.1 billion, reflecting strong profitability and contributions from recent acquisitions, notably the SCC business in the Americas.

• Profit attributable to owners of parent increased 3.5% to ¥11.2 billion; comprehensive income reached ¥16.3 billion, a turnaround from a loss in Q1 2025.

• No major supply chain disruptions from Middle East tensions; manufacturing and sales expected to remain stable.

Financial highlights

• Consolidated sales rose 14.7% year-over-year to ¥135.6 billion; adjusted operating income up 19.0% to ¥20.1 billion.

• Ordinary income increased 11.0% to ¥17.3 billion; profit attributable to owners of parent up 3.5% to ¥11.2 billion.

• Gross profit margin improved to 38.2% from 38.1% year-over-year.

• Earnings per share for Q1 2026 was ¥79.39, compared to ¥76.48 in Q1 2025.

• Overseas sales ratio reached 53.3%, up 3.3 points year-over-year.

Outlook and guidance

• Full-year FY2026 guidance maintained: sales forecast at ¥520 billion (+7.0% YoY), adjusted operating income at ¥68.2 billion (+11.6% YoY), and profit attributable to owners of parent at ¥38.2 billion (+0.1% YoY).

• Operating profit projected at ¥55.6 billion, up 7.1% year-over-year.

• Overseas sales expected to grow 9.6% YoY, with a sales ratio of 54.6%.

• Margin improvements anticipated through productivity gains and cost structure optimization, despite higher labor costs and price competition.

• Earnings per share for the full year projected at ¥271.72.