OSG (6136) Q3 2026 earnings summary

Executive summary

• Record-high 3Q and 9M net sales, operating income, ordinary income and net income; every segment set a 9M record for sales and operating income.

• FY2026 consolidated earnings forecast raised; annual dividend increased to ¥130 per share and share repurchase of up to ¥5.0bn announced.

Financial highlights

• 9M net sales ¥143.245bn (+23.5% YoY), operating income ¥27.543bn (+100.2%), and ordinary income ¥29.495bn (+96.8%).

• Net income attributable to owners of parent was ¥21.364bn (+121.5%); basic EPS ¥259.72 and diluted EPS ¥230.06.

• 9M gross profit was ¥64.373bn vs. ¥47.360bn YoY; SG&A rose to ¥36.830bn from ¥33.600bn.

• EBITDA was ¥37.881bn (+58.9%), with a 26.4% margin, up 5.9pts.

Outlook and guidance

• FY2026 forecast revised to net sales ¥193bn, operating income ¥36bn, ordinary income ¥38bn and net income attributable to owners of parent ¥24bn; forecast EPS ¥288.48.

• Forecast operating margin is 18.7%, up from 16.2%; FX assumptions are ¥155/US$ and ¥180/€.

• Medium-term Stage 2 (FY2025–FY2027) targets ROE above 10% and operating profit margin above 16% by FY2027.