Makita (6586) Q2 2027 earnings summary

Executive summary

• H1 FY2027 revenue rose 9.6% YoY to ¥414,713 million; operating profit increased 23.0% to ¥63,335 million and profit attributable to owners rose 23.5% to ¥47,918 million.

• Yen depreciation lifted reported revenue by ¥34.5B, while consolidated revenue grew 0.5% in local currency; U.S. tariff refunds helped improve the cost-of-sales ratio.

Financial highlights

• Gross profit was ¥163,791 million versus ¥137,576 million in H1 FY2026; profit before income taxes rose 25.3% to ¥66,274 million.

• Operating profit bridge: sales volume +¥5.4B, currency +¥3.3B, cost down +¥0.6B, SG&A -¥7.2B and other items +¥9.7B.

• Operating cash flow increased to ¥60,690 million from ¥42,054 million; cash and cash equivalents were ¥270,053 million at September 30, 2026.

Outlook and guidance

• FY2027 forecast unchanged: revenue ¥820,000 million, operating profit ¥110,000 million, profit before tax ¥111,000 million and parent-attributable profit ¥81,000 million.

• Forecast growth: revenue +5.5%, operating profit +5.1% and parent-attributable profit +2.0%; basic EPS is ¥314.29.

• Forecast domestic revenue is ¥135.0B (+2.2%) and overseas revenue ¥685.0B (+6.1%); production is 29.00M units, sales 31.00M units and inventory 15.60M units.

• Overall costs are expected to increase; focus remains on developing new business areas, including high-value-added fields, to achieve the existing forecast.