Mabuchi Motor (6592) Q1 2026 earnings summary

Executive summary

• Net sales for Q1 FY2026 rose 7.3% year-over-year to ¥50,373 million, driven by expanded automotive orders, yen depreciation, and consolidation of new subsidiaries in life and industrial products.

• Operating income declined 15.4% year-over-year to ¥5,395 million due to increased costs, despite improved selling prices and product mix.

• Ordinary income surged 66.8% year-over-year to ¥7,918 million, aided by foreign exchange gains.

• Profit attributable to owners of parent increased 74.4% year-over-year to ¥5,801 million.

• Comprehensive income reached ¥12,058 million, reversing a loss in the prior year.

Financial highlights

• Gross profit for Q1 FY2026 was ¥14,842 million, up from ¥14,227 million year-over-year.

• EPS for Q1 FY2026 was ¥23.62, up from ¥13.23 year-over-year, reflecting a stock split effective January 1, 2026.

• Total assets as of March 31, 2026, were ¥377,881 million, up ¥7,718 million from December 31, 2025.

• Net assets increased to ¥338,293 million, with an equity ratio of 89.4%.

• SG&A expenses increased 20.3% year-over-year.

Outlook and guidance

• FY2026 full-year net sales forecast at ¥213,000 million, up 6.3% year-over-year; operating income forecast at ¥26,000 million (+2.1% year-over-year).

• Dividend for 2026 expected at ¥56 per share, a record high, post-split basis.

• Share buyback planned with an upper limit of ¥19.0 billion/24.0 million shares in 2026.

• Assumes FX rate of ¥150/USD; forecasts may be revised pending impact of MASDAC acquisition.