RS Technologies (3445) Q1 2026 earnings summary

Executive summary

• Q1 FY2026 sales rose 8.7% YoY to ¥19,153 million; operating income increased 21.0% to ¥3,630 million and net income attributable to owners of parent rose 12.2% to ¥1,926 million.

• Comprehensive income was ¥8,082 million, versus a loss of ¥4,167 million in Q1 2025, as foreign currency translation shifted to a ¥2,580 million gain from a ¥5,951 million loss.

• Results benefited from higher reclaimed-wafer volumes and margin recovery; FY2026–FY2028 is positioned as an investment phase, with growth expected to accelerate from 2027.

Financial highlights

• Gross profit increased 16.1% YoY to ¥6,176 million; SG&A rose 9.8% to ¥2,546 million and operating income increased 21.0% to ¥3,630 million.

• Ordinary income rose 30.6% to ¥4,247 million; net income attributable to owners of parent was ¥1,926 million, versus ¥1,717 million, and basic EPS was ¥72.54, versus ¥65.02.

• Non-operating income increased 43.5% to ¥999 million, including a ¥262 million foreign-exchange gain; foreign-exchange loss fell from ¥185 million to zero.

• Income taxes totaled ¥1,471 million, versus ¥759 million; profit was ¥2,776 million, versus ¥2,492 million.

Outlook and guidance

• FY2026 forecast: sales ¥84,000 million, operating income ¥15,400 million, ordinary income ¥17,200 million, net profit ¥10,000 million and basic EPS ¥376.54; operating margin is forecast at 18.3%.

• H1 FY2026 guidance: sales ¥40,000 million, operating income ¥7,500 million, ordinary income ¥8,400 million, net profit ¥5,000 million and basic EPS ¥188.27.

• FY2027 and FY2028 sales forecasts are ¥105,000 million and ¥115,000 million; operating income forecasts are ¥17,500 million and ¥19,000 million, respectively.

• FY2028 targets include ROIC above 11% and ROE above 13%; the plan anticipates growth from 2027 onward, including through M&A.

• Estimates rely on current information and assumptions; actual performance may differ significantly due to business conditions and other uncertainties.