Shoei (7839) Q4 2026 earnings summary

Executive summary

• FY2026 net sales rose 7.6% to ¥34,814.9m, operating profit increased 11.7% to ¥9,942.2m and parent profit rose 14.3% to ¥7,223.0m.

• Consolidated unit sales grew 1.7%, supported by price increases, yen depreciation and stronger demand in China and Japan despite weaker European volumes.

Financial highlights

• Gross profit increased to ¥16,705.1m from ¥15,023.9m; ordinary profit rose 14.7% to ¥10,207.8m.

• Operating income benefited from higher sales volume, unit prices and yen depreciation; higher cost of sales and SG&A expenses offset some gains.

• Basic EPS was ¥140.06; comprehensive income increased to ¥8,113.0m from ¥6,295.9m.

Outlook and guidance

• FY2027 net sales are forecast at ¥36,910m (+6.0%); operating income at ¥9,450m (-5.0%), ordinary profit at ¥9,590m (-6.1%) and parent profit at ¥6,850m (-5.2%).

• Unit sales are forecast to rise 8.4% to 701 thousand; regional sales forecasts are North America +20.3%, China +12.6%, Japan +5.3% and Europe +1.5%.

• Guidance assumes ¥155/$ and ¥175/€; yen strength, the comparison with prior US tariff refunds and higher R&D costs are expected to weigh on profits.