OSG (6136) Q2 2026 earnings summary

Executive summary

• Net sales rose 19.0% year-over-year to ¥92.1 billion for the first half of FY2026, with record highs in net sales, operating income, ordinary income, and net income, driven by strong demand across regions and product segments.

• Operating income increased 65.1% to ¥15.7 billion, and net income attributable to owners nearly doubled to ¥12.5 billion.

• Comprehensive income surged to ¥16,483 million, up 255.4% year-over-year.

• The company revised its FY2026 forecast upward, projecting significant increases in sales, operating profit, and EPS.

Financial highlights

• Net sales for FY2026-1H: ¥92.1 billion, up 19.0% year-over-year.

• Operating profit: ¥15.7 billion, up 65.1% year-over-year; OPM at 17.0%, up 4.7 points.

• EBITDA: ¥22.6 billion, up 40.0% year-over-year; EBITDA margin at 24.5%.

• Net profit attributable to owners: ¥12.5 billion, up 92.8% year-over-year; EPS: ¥152.16, up 97.8%.

• Equity ratio improved to 68.5%.

Outlook and guidance

• FY2026 revised forecast: Net sales ¥185 billion (+20,000 million vs. previous), operating profit ¥30 billion (+8,000 million), EPS ¥255.60 (+36.3%).

• Full-year net sales forecast is ¥185,000 million, up 15.2% year-over-year; operating income projected at ¥30,000 million, up 47.6% year-over-year.

• Net income attributable to owners of parent expected to reach ¥21,000 million, up 46.5%.

• Dividend forecast revised to ¥115.00 per share for the year.

• Exchange rate assumptions updated to 1 USD = ¥155, 1 Euro = ¥180.