Mabuchi Motor (6592) Q3 2026 earnings summary

Executive summary

• 9M 2026 net sales rose 14.2% YoY to ¥167,949 million; operating income increased 10.6% to ¥21,631 million and parent-attributable profit rose 2.5% to ¥18,545 million.

• Growth reflected stronger automotive and life and industrial product sales, favorable selling prices and mix, yen depreciation and newly consolidated businesses; higher costs partly offset gains.

Financial highlights

• Gross profit rose to ¥52,032 million from ¥44,796 million; gross margin was 31.0%, versus 30.5% in FY2025 Q3.

• SG&A increased to ¥30,401 million from ¥25,239 million; the effective tax rate rose 5.8 percentage points to 29.5%.

• Ordinary income increased 13.0% to ¥26,489 million; profit before income taxes rose 11.2% to ¥26,390 million.

• Comprehensive income rose to ¥26,534 million from ¥9,691 million, supported by positive changes in securities gains and foreign currency translation adjustments.

Outlook and guidance

• FY2026 guidance is unchanged: net sales ¥225,000 million, operating income ¥26,500 million, ordinary income ¥31,300 million and parent-attributable profit ¥22,200 million.

• Q3 progress against full-year forecasts: sales 74.6%, operating income 81.5%, ordinary income 84.3% and parent-attributable profit 83.3%.

• FY2026 EPS forecast is ¥92.35 and dividend forecast remains ¥70 per share, a record high.