Kuriyama (3355) Q4 2025 earnings summary

Executive summary

• Revenue increased 13.9% year-over-year to ¥88,685 million, driven by strong performance in Asia and stable sales in North America.

• Operating income declined 9.6% year-over-year to ¥4,102 million, and ordinary income fell 8.1% to ¥4,827 million.

• Net income attributable to shareholders rose 11.3% year-over-year to ¥3,944 million, aided by a one-time negative goodwill gain from an acquisition.

• The company completed the acquisition of Mitoyo, expanding its industrial materials and sports/construction materials businesses.

Financial highlights

• Gross profit increased to ¥26,804 million, with a gross margin of 30.2%.

• Operating margin decreased to 4.6% from 5.8% the previous year.

• ROE was 8.4%, unchanged from the prior year.

• Cash and equivalents at year-end were ¥11,388 million, up from ¥9,387 million.

• Dividend per share increased to ¥61, with a payout ratio of 30.4%.

Outlook and guidance

• FY2026 revenue is forecast at ¥96,000 million (+8.2% YoY), with operating income of ¥4,800 million (+17.0%) and net income of ¥3,800 million (−3.7%).

• The company targets a stable dividend of ¥61 per share and aims for a payout ratio above 30%.

• Strategic focus includes maximizing synergies from the Mitoyo acquisition and expanding global operations, especially in North America.