T Hasegawa (4958) Q2 2026 earnings summary

Executive summary

• H1 FY2026 net sales rose 4.9% YoY to ¥37,585m; operating profit increased 0.2% to ¥4,528m, while profit attributable to owners of parent rose 11.6% to ¥3,749m.

• Q2 operating profit returned to YoY growth after declining in Q1; sales rose across major regions, supported in part by favorable FX and Hoang Anh consolidation.

• Strategic priorities included product quality and safety, stronger R&D and technology development, and differentiated high-quality, high-value products.

Financial highlights

• Net sales increased ¥1,761m; ordinary profit rose 0.2% to ¥4,936m, and EPS was ¥92.53 versus ¥82.06 a year earlier.

• Gross profit rose to ¥15,790m from ¥15,142m; cost of sales ratio increased to 58.0% from 57.7%, while SG&A rose to ¥11,262m from ¥10,623m.

• Profit before income taxes increased 15.1% to ¥5,535m; the prior-year comparison included ¥608m of securities-sale income and a ¥100m valuation loss.

• ¥671m, or 38%, of sales growth came from favorable FX; excluding FX, sales rose ¥1,090m and operating profit declined ¥158m amid one-off costs including the Vietnam acquisition.

• EBITDA reached ¥7,347m, up 1.5% YoY; comprehensive income was ¥10,291m versus ¥4,384m, including ¥6,176m of foreign currency translation adjustment.

Outlook and guidance

• FY2026 forecast unchanged: net sales ¥76,500m, operating profit ¥9,430m, ordinary profit ¥10,050m, parent-attributable profit ¥7,320m and EPS ¥180.63.

• H1 progress exceeded historical standard rates for sales, operating profit, ordinary profit and net profit; consolidated performance is targeted to finish above forecast.

• China sales and profit were below plan in H1; full-year targets remain in focus through new product pipeline development.

• U.S. operating profit is expected to turn positive from Q3 as planned, with full-year results targeted above plan.