Linical (2183) Q2 2026 earnings summary

Executive summary

• Net sales for the six months ended September 30, 2025, decreased 10.4% year-over-year to 4,859 million yen.

• Operating loss widened to 511 million yen from 192 million yen in the prior year period.

• Ordinary loss increased to 543 million yen, and loss attributable to owners of parent was 928 million yen.

• Comprehensive income improved to 844 million yen from a loss of 513 million yen year-over-year, mainly due to positive foreign currency translation adjustments.

• Net profit dropped significantly to 19.1 million yen, impacted by increased deferred income taxes.

Financial highlights

• Gross profit declined to 1,072 million yen from 1,314 million yen year-over-year.

• Net assets fell to 6,048 million yen as of September 30, 2025, from 7,253 million yen at March 31, 2025.

• Shareholders' equity ratio decreased to 41.9% from 43.2% at fiscal year-end.

• Cost of sales ratio increased to 77.9% from 75.8% year-over-year.

• SG&A expenses rose to 32.6% of sales from 27.8% year-over-year.

Outlook and guidance

• Full-year net sales forecast revised downward to 9,350 million yen, a 10.4% decrease from the previous year.

• Operating profit forecast revised to a loss of 1,350 million yen; net profit forecasted at a loss of 1,700 million yen.

• Net income per share for the full year is forecast at 75.27 yen.

• Dividend forecast remains unchanged at 16.00 yen per share for the year ending March 31, 2026.

• Forecasts were revised in light of first-half performance.