Mabuchi Motor (6592) Q4 2025 earnings summary

Executive summary

• Net sales reached ¥200.4 billion in 2025, up 2.1% year-over-year, with net profit and operating income at record highs, driven by improved product mix, higher selling prices, and strategic acquisitions despite global headwinds.

• Automotive motor sales grew, especially for mirrors, door lock actuators, grille shutter actuators, and flush fillers.

• Life and industrial product sales increased, aided by acquisitions and strong health/medical sector demand.

• Major acquisitions included Mabuchi OB Gear System, Mabuchi Micro Tech, and Nippon Pulse Motor, expanding product lineup and market reach.

• A 2-for-1 stock split was executed on January 1, 2026, to enhance liquidity and broaden the investor base.

Financial highlights

• Gross profit was ¥59.7 billion (29.8% margin), up 13.1% year-over-year.

• Ordinary income reached ¥35.0 billion, up 8.1% year-over-year; profit attributable to owners of parent surged 104.8% to ¥26.2 billion.

• Comprehensive income was ¥30.9 billion, up 1.8% year-over-year.

• Cash and cash equivalents at year-end were ¥139.9 billion, up ¥9.4 billion from prior year.

• Dividend for 2025 set at ¥106 per share (record high).

Outlook and guidance

• 2026 net sales forecast at ¥213.0 billion, up 6.3% year-over-year; operating income projected at ¥26.0 billion, up 2.1% year-over-year.

• Profit attributable to owners of parent expected to decrease 18.2% to ¥21.5 billion due to absence of FX gains and higher costs.

• Dividend forecast for 2026 is ¥56 per share post-split (equivalent to ¥112 pre-split), maintaining a high payout.

• Sales of life and industrial products to rise, supported by M&A and strong health/medical demand.

• Capital expenditures planned at ¥12.5 billion, mainly for new product equipment and labor-saving investments.