Sanwa (5929) Q3 2026 earnings summary

Executive summary

• Net sales for 3Q YTD FY2025 were JPY 468.2 billion, down 1.5% year-over-year, with operating profit at JPY 49.68 billion, down 2.5%, and ordinary profit at JPY 50.95 billion, down 4.8%. Net profit attributable to owners rose 1.9% to JPY 38.01 billion.

• The business environment was challenging due to trade friction, U.S. tariffs, a slowing Chinese economy, FX volatility, and geopolitical tensions.

• Strategic initiatives included strengthening core businesses, expanding service offerings, and sustainability efforts.

Financial highlights

• Gross profit for the nine months was JPY 153.35 billion, nearly flat year-over-year.

• EPS for the period was JPY 178.56, up from JPY 171.10 in the prior year.

• Comprehensive income declined 7.4% year-over-year to JPY 35.44 billion.

• Total assets as of December 31, 2025, were JPY 521.47 billion, down JPY 13.14 billion from March 31, 2025.

• Net assets decreased by JPY 6.90 billion to JPY 317.29 billion, with an equity ratio of 60.4%.

Outlook and guidance

• Full-year FY2025 net sales forecast at JPY 654.0 billion, a 1.3% decrease from the previous year.

• Full-year operating profit forecast at JPY 81.0 billion, down 0.6% year-over-year.

• Full-year net profit attributable to owners forecast at JPY 58.0 billion, up 0.8% year-over-year.

• EPS forecast is JPY 270.70.

• No changes have been made to the previously announced consolidated results forecasts.