Shin Nippon Biomedical Laboratories (2395) Q2 2026 earnings summary

Executive summary

• H1 revenue reached a record for the fourth consecutive year at ¥14,766M, up 18.1% YoY; revenue and profit exceeded initial H1 projections, with full-year guidance unchanged.

• Nonclinical CRO orders from U.S. and European clients rose 62.1% YoY to ¥5,922M; the ¥20-per-share interim dividend was declared as planned.

Financial highlights

• H1 operating profit was ¥49M, down 38.4% YoY, and ordinary profit was ¥1,627M, down 11.0%.

• Net profit attributable to owners was ¥1,061M, down 20.3% YoY; basic EPS was ¥25.48 versus ¥31.97.

• Gross profit was ¥6,678M; gross margin was 45.2%, down from 52.2%.

• Comprehensive income was negative ¥969M versus positive ¥3,542M a year earlier, reflecting negative foreign-currency translation adjustment.

Outlook and guidance

• FY3/26 guidance remained unchanged: revenue ¥33,272M (+2.6%), operating profit ¥3,550M (+18.9%), ordinary profit ¥5,927M (-8.1%), net profit ¥3,550M (-27.9%) and EPS ¥85.27.

• Full-year nonclinical orders plan was ¥35,200M; H1 orders of ¥15,787M represented 44.8% of plan, with estimates and inquiries above prior-year levels and initial forecasts.

• Annual dividend forecast remained ¥50 per share, comprising ¥20 interim and ¥30 year-end; USD assumption was ¥145.