Mani (7730) Q2 2026 earnings summary

Executive summary

• Achieved record-high revenue and profit for 1H FY2026, driven by business recovery in China, yen depreciation, and strong Asian demand.

• Resumed sales of dental dia-burs in China after recall, with recovery ahead of initial targets.

• All business segments and major regions contributed to growth, with Asia, especially China, leading the recovery.

• Launched new proprietary dental products in Europe and expanded R&D for next-generation products.

• Acquired a 36.67% stake in German distributor iRIS EYE GmbH to strengthen European ophthalmic sales.

Financial highlights

• Net sales for 1H FY2026 reached ¥16,106 million, up 8.7% year-over-year.

• Operating income rose 22.2% to ¥5,097 million; net income increased 32.6% to ¥3,898 million.

• Ordinary income grew 31.4% to ¥5,619 million; profit before income taxes up 32% to ¥5,637 million.

• Gross profit margin improved to 33.4%; gross profit was ¥10,723 million, up 13.0% YoY.

• Comprehensive income reached ¥5,365 million, up 61.9% YoY; earnings per share rose to ¥39.58.

Outlook and guidance

• 1H results outperformed plan, with operating profit at 55.4% of full-year forecast.

• Full-year FY2026 guidance: net sales ¥32,800 million, operating income ¥9,200 million, net income ¥6,450 million.

• Dividend forecast raised to ¥41.00 per share for FY2026.

• Monitoring potential impacts from Middle East instability in 2H.

• No changes to previously announced full-year guidance.