Makino Milling Machine (6135) Q2 2026 earnings summary

Executive summary

• Orders increased by 15% year-over-year in FY2025 2Q, driven mainly by growth in China and strong demand in Die & Mold and aerospace sectors.

• Net sales for the six months ended September 30, 2025, rose 10.3% year-over-year to ¥119,421 million, with operating profit up 25.4% to ¥9,500 million and profit attributable to owners of parent up 16.9% to ¥6,762 million.

• Comprehensive income improved significantly to ¥9,326 million from a loss of ¥308 million in the prior year period.

• Asia segment showed significant sales and operating income growth, contributing over half of consolidated net sales.

Financial highlights

• FY2025 1H net sales: ¥119.4B (+10.3% YoY); operating income: ¥9.5B (+25.4% YoY); net income: ¥6.76B (+38.9% YoY).

• Gross profit increased to ¥36,291 million from ¥34,334 million year-over-year.

• Ordinary profit rose 38.9% year-over-year to ¥10,530 million.

• Sales exceeded forecast by 3.2%, operating income by 5.6%, but net income was 22.3% below forecast.

• Net cash provided by operating activities was ¥21,478 million, up from ¥11,889 million in the prior year period.

Outlook and guidance

• FY2025 full-year forecast: net sales ¥240B (+2.5% YoY), operating income ¥21.5B (+16.1%), net income ¥18B (+24.9%).

• Basic earnings per share for the full year are forecast at ¥769.61.

• FY2025 investment plan: ¥28.4B, mainly in Japan.