Kawasaki Heavy Industries (7012) Q2 2026 earnings summary

Executive summary

• Revenue reached a record ¥996.2 billion for Q2 FY2025, up ¥112.0 billion or 12.7% year-over-year, driven by strong segment performance.

• Business profit declined by ¥12.0 billion year-over-year to ¥35.7 billion, mainly due to yen appreciation and higher tariffs.

• Net profit attributable to owners rose to ¥22.0 billion, up ¥8.4 billion year-over-year, with comprehensive income up 128.7%.

• Orders received in Q2 FY2025 totaled ¥1,015.4 billion.

• Basic earnings per share for the six months was ¥132.16, up from ¥81.59 year-over-year.

Financial highlights

• Q2 FY2025 revenue: ¥996.2 billion (record high), up ¥112.0 billion year-over-year.

• Business profit: ¥35.7 billion, down ¥12.0 billion year-over-year (margin 3.6%).

• Profit before tax: ¥35.3 billion, up ¥11.6 billion year-over-year; net profit attributable to owners: ¥22.0 billion, up ¥8.4 billion.

• Gross profit margin declined to 18.2% from 21.1% year-over-year.

• Total assets increased to ¥3,070,859 million as of September 30, 2025.

Outlook and guidance

• Full-year FY2025 revenue forecast raised to ¥2,340.0 billion, a record high.

• Orders received forecast revised up by ¥300 billion to ¥2,530.0 billion, reflecting a major NYC Transit order.

• Business profit forecast unchanged at ¥145.0 billion, with profit expected to be more H2-weighted.

• Dividend per share for FY2025 planned at ¥150.

• Basic earnings per share for the full year projected at ¥490.61.