Hoshizaki (6465) Q2 2025 earnings summary

Executive summary

• Net sales rose 9.4% year-over-year to ¥238.5 billion, with operating income up 11.2% to ¥30.4 billion and profit attributable to owners of parent up 12.6% to ¥21.9 billion, driven by robust demand in Japan and overseas, especially Asia and the Americas, and contributions from newly consolidated companies and acquisitions.

• Both net sales and operating income surpassed the previous year and internal targets.

• Growth was supported by expanded sales in restaurant and non-restaurant markets in Japan.

• Overseas performance was strong in Asia and the Americas, but Europe saw a slight sales decline due to competition.

Financial highlights

• Net sales: ¥238.5 billion (+9.4% year-over-year); Japan: ¥115.5–118.9 billion (+3.8–4.4%), Americas: ¥57.8 billion (+10.2%), Europe: ¥27.5 billion (−1.3%), Asia: ¥39.4 billion (+32.4%).

• Operating income: ¥30.4 billion (+11.2%); margin improved to 12.8%.

• Ordinary income: ¥31.8 billion (−1.2%) due to foreign exchange losses.

• Profit attributable to owners of parent: ¥21.9 billion (+12.6%).

• Gross profit: ¥91.0 billion; margin stable at 38.2%.

Outlook and guidance

• FY2025 sales forecast: ¥460 billion (+3.3% year-over-year); Japan: ¥222.7 billion (+2.4%), Overseas: ¥237.3 billion (+4.1%).

• Operating income forecast: ¥53.5 billion (+3.9–4.8%), profit attributable to owners of parent: ¥38.3 billion (+3.0–3.7%), EPS forecast: ¥270.84.

• No revisions to full-year earnings forecast; continued inbound demand and strategic market expansion expected.