Roland (7944) Q3 2025 earnings summary

Executive summary

• Q3 year-to-date net sales were ¥69,570 million, down 0.1% year-over-year, with operating profit at ¥6,183 million (down 4.6%) and net income up 26.8% to ¥5,438 million, despite fully materialized tariff effects and global economic uncertainty.

• Decisive cost and pricing actions mitigated tariff and FX impacts, leveraging brand strength.

• The business environment was marked by global economic uncertainty, U.S. tariff policy changes, and currency fluctuations, but demand in key markets showed signs of recovery.

Financial highlights

• Q3 YTD sales were ¥69.57bn, down 0.1% YoY; operating profit was ¥6.18bn, down 4.6% YoY; net income rose 26.8% YoY to ¥5.44bn.

• Excluding FX impact, sales grew 1.7% and net income grew 8.0% YoY.

• EBITDA for Q3 YTD was ¥8.39bn, down 2.7% YoY.

• Ordinary profit rose 10.4% YoY to ¥5,876 million, while comprehensive income fell 36.0% to ¥4,000 million.

• Basic earnings per share increased to 204.46 yen from 155.45 yen a year earlier.

Outlook and guidance

• Full-year net sales forecast is ¥96,900–100,900 million, with operating profit expected at ¥8,100–10,100 million.

• Net income forecast is ¥5,700–7,200 million, up 20.5% at the high end, with basic EPS of 214.83–271.36 yen.

• No change to the previously announced earnings forecast as of May 13, 2025.

• Additional tariffs will continue to be a cost-increasing factor next fiscal year, but countermeasures are expected to offset the impact.