ShinMaywa Industries (7224) Q4 2025 earnings summary

Executive summary

• Achieved record-high orders received for the fourth consecutive year and record net sales for the second consecutive year, with operating profit at its second highest level ever.

• Operating profit rose 18.7% year-over-year to ¥13,970 million, ordinary profit increased 11.8% to ¥13,536 million, and profit attributable to owners of parent grew 23.0% to ¥8,957 million.

• Annual dividend per share for FY2024 revised upward to 52 yen, with a further increase to 54 yen forecasted for FY2025.

• The company is executing its SG-2026 medium-term plan, part of the long-term SG-Vision 2030, to enhance corporate value.

• Significant profit increase year-over-year, mainly due to price revisions in the Special Purpose Truck segment.

Financial highlights

• FY2024 orders received: ¥291.5 billion (+0.0% YoY), net sales: ¥266.4 billion (+3.6% YoY), operating profit: ¥13.97 billion (+18.7% YoY), ordinary profit: ¥13.54 billion (+11.8% YoY), profit attributable to owners: ¥8.96 billion (+23.0% YoY).

• Outstanding orders at year-end: ¥318.8 billion (+9.4% YoY).

• Basic earnings per share rose to ¥135.61 from ¥110.38 year-over-year.

• Equity-to-asset ratio improved to 42.0%, net D/E ratio reduced to 0.20.

• Cash and cash equivalents at year-end were ¥28.28 billion, up from ¥22.89 billion.

Outlook and guidance

• FY2025 forecast: orders received ¥315.0 billion (+8.1% YoY), net sales ¥290.0 billion (+8.8% YoY), operating profit ¥15.0 billion (+7.4% YoY), profit attributable to owners ¥9.2 billion (+2.7% YoY).

• Dividend per share expected to rise to 54 yen, maintaining a DOE of 3.1%.

• Basic earnings per share forecasted at ¥139.20.

• Sales expected to increase in all segments except Fluid and Others, with record net sales projected for the third consecutive year.

• Ordinary profit forecasted at ¥14.0 billion (+3.4% YoY).