Meidensha (6508) Q3 2026 earnings summary

Executive summary

• Net sales for the nine months ended December 31, 2025, rose 6.7% year-over-year to ¥203,855 million, with operating income up 18.2% to ¥7,082 million and net income attributable to owners of the parent up 62.5% to ¥9,637 million.

• Strong demand in heavy electrical products and systems, especially in power infrastructure, was supported by robust investment and government policy, though labor shortages and rising costs impacted some projects.

• Comprehensive income surged 244.6% year-over-year to ¥20,854 million, reflecting significant gains in available-for-sale securities and foreign currency translation.

Financial highlights

• Gross profit increased to ¥54,964 million from ¥49,937 million year-over-year, with gross margin improving.

• Basic net income per share rose to ¥212.43 from ¥130.75 year-over-year.

• Total assets grew to ¥356,717 million as of December 31, 2025, up from ¥341,347 million at the previous fiscal year-end.

• Equity ratio improved to 43.0% from 40.7% at the previous fiscal year-end.

Outlook and guidance

• Full-year net sales forecast revised to ¥325,000 million (up 7.9% year-over-year), with operating income projected at ¥24,000 million (up 11.6%) and net income at ¥20,500 million (up 10.9%).

• Net income forecast was raised due to extraordinary income from real estate sales.

• Basic net income per share for the full year is forecast at ¥451.90.