Sanoh Industrial (6584) Q3 2025 earnings summary

Executive summary

• Revenue increased 4.6% year-over-year to ¥119,977 million, driven by strong North American sales and yen depreciation, offsetting declines in China.

• Operating income fell 34.2% year-over-year to ¥3,620 million due to higher raw material and labor costs, and temporary expenses in the Americas.

• Net income attributable to shareholders dropped 60.6% year-over-year to ¥1,106 million, reflecting lower operating and ordinary income and provision for damages.

Financial highlights

• Revenue: ¥119,977 million (+4.6% YoY); Operating income: ¥3,620 million (−34.2% YoY); Ordinary income: ¥3,070 million (−40.1% YoY); Net income: ¥1,106 million (−60.6% YoY).

• Gross profit rose to ¥17,630 million from ¥16,678 million year-over-year.

• Operating margin declined to 3.0% from 4.8% year-over-year.

• EPS for the period was ¥30.91, down from ¥78.17 year-over-year.

• Comprehensive income dropped to ¥90 million from ¥8,174 million year-over-year, mainly due to negative currency translation adjustments.

Outlook and guidance

• Full-year revenue forecast revised to ¥160,000 million (−1.2% from previous), operating income to ¥5,000 million (−37.5%), ordinary income to ¥4,500 million (−35.7%), and net income to zero.

• Downward revision reflects China’s production cuts, higher fixed costs from workforce reductions, delayed price pass-through in Europe, and temporary costs in the Americas.

• Dividend forecast maintained at ¥28 per share for the full year.