Shimano (7309) Q2 2026 earnings summary

Executive summary

• FY2026 revised sales forecast is ¥491 billion, up 5.3% year-over-year from FY2025 results.

• Operating income is projected at ¥47 billion, down 9.1% year-over-year.

• Net income attributable to owners is expected to reach ¥43 billion, a 26.5% increase year-over-year.

• Net sales rose 4.1% year-over-year to 247,059 million yen for the first half of FY2026, with net income surging 605.5% to 27,950 million yen, driven by foreign exchange gains.

• Growth is driven by strong overseas sales, especially in North America and China.

Financial highlights

• Consolidated sales increased by ¥24.8 billion (5.3%) year-over-year.

• Gross profit margin declined from 35.7% to 34.4% year-over-year.

• Operating income margin decreased from 11.1% to 9.6% year-over-year.

• Net income margin improved from 7.3% to 8.8% year-over-year.

• Ordinary income increased 151.6% year-over-year to 35,324 million yen, reflecting strong non-operating income, especially foreign exchange gains.

Outlook and guidance

• FY2026 revised guidance raises sales and net income targets compared to the previous schedule.

• Operating income guidance remains unchanged at ¥47 billion.

• Full-year dividend forecast raised to 363 yen per share, reflecting a policy of stable and enhanced shareholder returns.

• Management notes forecasts are subject to significant uncertainties, including exchange rates and global economic risks.