Iwatani (8088) Q2 2027 earnings summary

Executive summary

• 1H FY2026 net sales rose 16.7% YoY to ¥477.5bn; operating profit increased 128.2% to ¥24.6bn, ordinary profit 231.6% to ¥59.7bn, and parent-attributable profit 138.1% to ¥48.4bn.

• Record-high profit across subsequent profit categories reflected LPG import-price effects, improved helium profitability and higher equity-method income; excluding Cosmo, ordinary profit was ¥27.6bn and parent-attributable profit ¥21.0bn.

Financial highlights

• Gross profit was ¥126.8bn versus ¥106.6bn YoY; operating profit was ¥24.6bn versus ¥10.8bn.

• Net income was ¥48.9bn and parent-attributable profit ¥48.4bn; basic EPS was ¥210.12 versus ¥88.27 YoY.

• Comprehensive income increased to ¥55.9bn from ¥23.2bn YoY.

• Operating profit excluding LPG import-price fluctuation was ¥20.7bn, up 49.7% YoY; the LPG price impact increased profit by ¥6.8bn YoY.

Outlook and guidance

• Revised FY2026 forecast: net sales ¥990.0bn, operating profit ¥57.0bn, ordinary profit ¥68.5bn, parent-attributable profit ¥49.1bn and EPS ¥213.29.

• Excluding Cosmo, revised FY2026 forecasts are ordinary profit ¥59.7bn and parent-attributable profit ¥41.0bn; Cosmo impact is ¥8.8bn and ¥8.1bn, respectively.

• FY2026 guidance implies YoY increases of 9.0% in sales, 48.8% in operating profit, 24.0% in ordinary profit and 3.0% in parent-attributable profit.

• Forecasts and dividends were revised on November 10, 2026; forward-looking results depend on assumptions and may differ materially from actual outcomes.