MonotaRO (3064) Q2 2026 earnings summary

Executive summary

• Consolidated net sales for Jan-Jun 2026 reached ¥193.2 billion, up 20.6% year-over-year and 2.6% above plan, with operating income at ¥27.3 billion (+24.9% YoY) and net income attributable to owners at ¥18.5 billion (+20.5% YoY), driven by strong demand for petroleum-based products, new customer acquisition, and expanded product offerings.

• The company added 591,000 new registered accounts, reaching a total of 11.85 million accounts.

• Overseas subsidiaries exceeded sales plans, contributing to consolidated results outperforming expectations.

Financial highlights

• Gross profit margin improved to 29.8% (up 0.2pt YoY), with gross profit at ¥57,561 million, and SG&A expense ratio at 15.6% (down 0.4pt YoY).

• Non-consolidated net sales rose 20.8% YoY to ¥187.3 billion, with operating income up 24.1% YoY to ¥27.9 billion and net income up 20.9% YoY to ¥19.1 billion.

• Net income per share increased to ¥37.63 from ¥31.03 year-over-year.

• Distribution-related cost sales ratio decreased to 5.9%, 0.3pt lower than the previous year.

• Overseas: NAVIMRO (Korea) sales up 12.5% YoY, MONOTARO INDONESIA sales up 36.3% YoY, IB MONOTARO (India) sales up 0.2% YoY, all exceeding plans.

Outlook and guidance

• Full-year 2026 consolidated sales planned at ¥381.4 billion (+14.2% YoY), with operating income of ¥53.1 billion (+14.9% YoY) and net income attributable to owners at ¥36.2 billion (+11.5% YoY), EPS forecasted at ¥72.81.

• Non-consolidated sales expected at ¥368.8 billion (+14.3% YoY), with enterprise business targeted to grow 20.4% YoY.

• Company targets over 15% annual sales growth and profit growth outpacing sales, with ROE of 30%+ as a mid- to long-term goal.

• No revision to the previously disclosed forecast.