Koike Sanso Kogyo (6137) Q2 2025 earnings summary

Executive summary

• H1 FY2025 revenue rose 6.2% YoY to ¥25,393m, with operating income up 28.7% and net income attributable to owners up 15.1%.

• Machinery and equipment led growth; the FY2025 forecast was raised on continued strength in the segment.

Financial highlights

• Revenue was ¥25,393m, gross profit ¥8,242m and SG&A ¥5,930m, up 6.2%, 12.4% and 7.1% YoY, respectively.

• Operating income was ¥2,311m, up 28.7%; ordinary income ¥2,609m, up 19.2%; net income attributable to owners ¥1,562m, up 15.1%.

• Comprehensive income was ¥2,809m, down from ¥3,241m; EPS was ¥371.00 versus ¥323.45 a year earlier.

• Operating cash flow was ¥1,304m versus an outflow of ¥160m in the prior-year period; cash and cash equivalents were ¥15,828m at H1-end.

Outlook and guidance

• FY2025 forecast raised to revenue ¥52,400m, operating income ¥4,700m, ordinary income ¥5,200m and net income attributable to owners ¥2,950m.

• Versus FY2024 actuals, forecast revenue is up 2.0%, operating income up 8.9%, ordinary income up 1.0% and net income down 3.5%.

• Machinery and equipment forecast raised; high-pressure gas, welding supplies and other segment forecasts unchanged.