HUMAN MADE (456A) Q3 2026 earnings summary

Executive summary

• Record Q3 sales, gross profit and operating income; sales rose 29.8% YoY and operating margin reached 35.6%.

• Nine-month sales reached ¥9.953bn, 73% of FY26 guidance; operating income reached 85% of forecast.

• Results cover non-consolidated financials for the nine months ended October 31, 2025 under Japanese GAAP.

Financial highlights

• Q3 FY26 sales were ¥3.966bn, up 29.8% YoY; gross profit was ¥2.610bn, up 42.9%, and operating income was ¥1.410bn, up 57.8%.

• Q3 ordinary income was ¥1.343bn, up 49.7% YoY; net income was ¥931m, with no comparable prior-year figure presented.

• Nine-month sales were ¥9.953bn, up 16.6% YoY; gross profit was ¥6.488bn, up 24.0%, and operating income was ¥3.215bn, up 27.1%.

• Nine-month ordinary income rose 22.8% to ¥3.108bn; net income rose 24.6% to ¥2.074bn, with EPS of ¥94.40.

• Nine-month results included ¥53m in impairment losses.

Outlook and guidance

• FY26 forecast unchanged: sales ¥13.697bn, up 21.7% YoY; operating income ¥3.803bn, up 19.6%; ordinary income ¥3.635bn and net income ¥2.598bn.

• FY26 EPS forecast is ¥117.31; no dividend is planned for the fiscal year.

• Planned product launches support the outlook; collaboration-led launches can make sales more dependent on launch timing than seasonality.

• Medium-to-long-term plans include overseas subsidiaries within 1–2 years, local stores and e-commerce in China, and achieving overseas profitability before further global expansion.