Kikusui Holdings (6912) Q2 2026 earnings summary

Executive summary

• Revenue for the second quarter/six months ended September 2025 was ¥6,598 million, up 11.0% year-over-year, driven by strong demand in GX, automotive, semiconductor, and data center markets.

• Operating income rose 1.3% to ¥844 million, and net income attributable to shareholders increased 4.4% to ¥622 million compared to the same period last year.

• Overseas sales grew 16.9% year-over-year, with notable growth in North America, China, Korea, and India.

• The company focused on expanding solution business in power electronics, e-mobility, next-generation energy, power semiconductors, and data centers.

Financial highlights

• Revenue: ¥6,598 million (+11.0% YoY); Operating income: ¥844 million (+1.3% YoY); Ordinary income: ¥959 million (+4.7% YoY); Net income: ¥622 million (+4.4% YoY).

• Gross profit improved to ¥3,338 million from ¥3,148 million year-over-year; gross profit margin decreased to 50.6% from 52.9% YoY.

• Operating margin was 12.8%, and net margin was 9.4% for the period.

• Comprehensive income surged to ¥799 million, up 190.1% year-over-year.

• R&D expenses were ¥658 million, representing 10.0% of sales, up from ¥594 million last year.

Outlook and guidance

• Full-year revenue forecast is ¥13,500 million (+0.5% YoY), with operating income projected at ¥2,050–2,150 million and net income at ¥1,450 million (+0.7% YoY).

• Dividend per share is expected to remain unchanged at ¥53.00.

• No changes to previously announced full-year guidance.