Okuma (6103) Q4 2026 earnings summary

Executive summary

• Consolidated sales reached ¥235.9 billion, up 14.1% year-over-year, achieving an all-time high and surpassing the "Global 70" overseas sales target with 73.3% from international markets.

• Operating income was ¥15.5 billion, up 5.8% year-over-year, with a margin of 6.6%, despite cost pressures from tariffs, logistics, and human capital investments.

• Orders totaled ¥240.8 billion, up 11.7% year-over-year, with a record backlog of ¥101.4 billion at fiscal year-end, driven by strong demand in the U.S. and recovery in Japan and China.

• Major investments in automation, production efficiency, and decarbonization initiatives were completed, including new facilities and expanded manufacturing capacity.

Financial highlights

• Net income attributable to owners was ¥12.55 billion, up 30.9% year-over-year.

• Ordinary income rose 5.5% year-over-year to ¥16.38 billion.

• Operating income margin was 6.6% for FY2025.

• Comprehensive income surged to ¥28.91 billion from ¥7.54 billion the prior year.

• Cash flow from operating activities was ¥23.8 billion, with capital investments and DX/software investments totaling ¥9.4 billion.

• Cash and cash equivalents at year-end were ¥47.76 billion.

• Net cash stood at ¥28.0 billion, and the capital adequacy ratio was 72.0%.

Outlook and guidance

• FY2026 sales are forecast at ¥245.0 billion (+3.9%), with operating income projected at ¥19.0 billion (+22.5%) and net income at ¥13.0 billion (+3.5%).

• Planned dividends for FY2026 are ¥100.0 per share.

• Demand expected to remain firm in growth sectors such as aviation, defense, energy, and semiconductors, despite global uncertainties.

• Mid-term targets for FY2028: sales of ¥270 billion, operating income margin of 11%+, and ROE of 8%+.

• FY2030 vision targets: sales of ¥300 billion, operating income margin of 15%+, and ROE of 13–15%.