Shimano (7309) Q3 2026 earnings summary

Executive summary

• 9M FY2026 net sales rose 6.9% YoY to ¥375,248 million, operating income increased 21.8% to ¥44,532 million, and net income attributable to owners of parent climbed 148.5% to ¥40,022 million.

• FY2026 guidance was revised upward to sales of ¥495.5bn, operating income of ¥54.3bn and net income of ¥47.0bn; improving inventory adjustments and robust fishing-tackle sales supported growth.

Financial highlights

• 9M gross profit was ¥134,667 million versus ¥124,799 million; ordinary income rose to ¥51,864 million from ¥30,248 million, partly due to foreign-exchange valuations.

• FY2026 scheduled sales are ¥495.5bn, up 6.3%; gross profit is ¥175.3bn, up 5.2%, with gross margin of 35.4% versus 35.7%.

• FY2026 operating income is scheduled at ¥54.3bn, up 5.1%, with operating margin of 11.0% versus 11.1%; SG&A is ¥121.0bn, up 5.3%.

• FY2026 ordinary income is scheduled at ¥62.3bn, pretax income at ¥64.3bn and net income at ¥47.0bn; non-operating items shifted to net income of ¥8.0bn from a net expense of ¥4.648bn.

• 9M foreign-exchange losses fell to ¥1,710 million from ¥18,387 million; prior-period extraordinary income included a ¥3,143 million gain on investment-security sales.

Outlook and guidance

• Revised FY2026 forecast: sales ¥495,500 million, operating income ¥54,300 million, ordinary income ¥62,300 million, net income attributable to owners of parent ¥47,000 million and EPS ¥558.86.

• Versus the prior schedule, forecast sales increased ¥4,500 million, operating income ¥7,300 million, ordinary income ¥6,300 million and net income ¥4,000 million; 1H estimates were unchanged.

• FY2026 schedule includes 1H sales of ¥247.059bn and operating income of ¥27.250bn, and 2H sales of ¥248.441bn and operating income of ¥27.050bn.

• Revisions reflect progress in inventory adjustments in Europe, China and other regions, improved profitability from Asian-currency depreciation, and higher non-operating expenses including 9M FX valuation losses.