Maxell (6810) Q3 2025 earnings summary

Executive summary

• Nine-month sales fell 1.8% YoY to ¥95,587 million; operating profit rose 1.7% to ¥6,578 million, and results exceeded plan overall.

• Energy and Life Solution growth was offset by weakness in Optics & Systems; the full-year forecast remains unchanged.

Financial highlights

• Gross profit rose to ¥24,270 million from ¥22,735 million; SG&A increased to ¥17,692 million from ¥16,264 million.

• Ordinary profit declined 6.8% to ¥7,124 million; profit attributable to owners of parent fell 2.5% to ¥5,544 million, and comprehensive income declined 1.7% to ¥7,578 million.

• Nine-month EPS was ¥125.47 versus ¥124.04 a year earlier; average exchange rate was ¥153 per US dollar versus ¥143.

• Yen depreciation supported sales and operating profit, while foreign-exchange gains and losses weighed on ordinary profit and net profit.

Outlook and guidance

• FY March 2025 forecast remains unchanged: sales ¥126,000 million, operating profit ¥8,000 million, profit attributable to owners of parent ¥6,000 million and EPS ¥135.79.

• Q4 sales and operating profit are expected to remain at Q3 levels, supported by primary batteries, coated separators, and health and beauty care products.

• Portfolio reform is under consideration to improve profitability beyond FY March 2026; one-time expenses may affect FY March 2025 results.