Sanoh Industrial (6584) Q4 2025 earnings summary

Executive summary

• Net sales rose 1.7% year-over-year to 159,538 million yen, driven by strong Americas performance and yen depreciation, offsetting declines in China.

• Operating income fell 39.7% year-over-year to 4,860 million yen due to lower China sales, higher costs, and one-time expenses in the Americas.

• Net income attributable to shareholders dropped 82.5% year-over-year to 737 million yen, impacted by impairment losses and special retirement benefits, partially offset by gains from investment securities sales.

• Comprehensive income fell sharply to 1.6 billion yen from 10.4 billion yen in the prior year.

Financial highlights

• Operating income margin decreased to 3.0% from 5.1% year-over-year.

• Cash and cash equivalents increased by 5,039 million yen to 22.7 billion yen at year-end.

• Dividend per share for the year was 26.50 yen, down from 28.00 yen in the prior year.

• Earnings per share declined to 20.59 yen from 117.42 year-over-year.

• D/E ratio increased to 0.90 from 0.74; equity ratio fell to 37.8% from 40.2%.

Outlook and guidance

• FY2026 sales forecast at 147,000 million yen, down 7.9% from FY2025; operating income projected to rise 13.2% to 5,500 million yen.

• Net income expected to recover to 1,800 million yen, up 144.3% year-over-year; EPS forecast at 50.29 yen.

• Ordinary income is expected to decrease 13.0% to 4,000 million yen.

• Forecast assumes no impact from U.S. tariff-related cost increases; expects a 10% sales decline in North America due to tariffs.

• Dividend forecast for FY2025 is undecided.