Kikusui Holdings (6912) Q4 2026 earnings summary

Executive summary

• Revenue for the fiscal year ended March 2026 was ¥14,687 million, up 9.4% year-over-year, driven by strong demand in automotive, energy, semiconductor, and data center markets.

• Operating income rose 6.9% to ¥2,135 million, and net income attributable to shareholders increased 11.8% to ¥1,609 million.

• Overseas sales climbed 12.2% year-over-year, with notable growth in North America (+44.6%) and China (+5.8%), offsetting weaker performance in Europe.

• The company focused on power electronics solutions, targeting e-mobility, next-generation energy, power semiconductors, and data centers as key growth areas.

Financial highlights

• Gross profit margin was 50.9%, slightly down from 51.8% the previous year.

• Operating margin was 14.5%, and net margin improved to 11.0% year-over-year.

• Comprehensive income surged 79.3% year-over-year to ¥2,043 million.

• Cash and equivalents at year-end were ¥5,736 million, up 21.9% from the prior year.

• R&D expenses totaled ¥1,359 million, representing 9.3% of sales.

Outlook and guidance

• For the fiscal year ending March 2027, revenue is forecast at ¥14,700 million (+0.1%), with operating income of ¥2,150 million (+0.7%), and net income of ¥1,620 million (+0.7%).

• Dividend per share is projected at ¥59, down from ¥69 (which included a ¥10 commemorative dividend in the prior year).

• Management expects continued uncertainty due to geopolitical risks, high energy and material costs, and global economic trends.

• Focus remains on power electronics, e-mobility, next-gen energy, power semiconductors, and data centers.