Takeuchi Mfg (6432) Q2 2026 earnings summary

Executive summary

• Net sales for the six months ended August 2025 increased by 4.1% year-over-year to ¥114,103 million, with growth in North America, Europe, Asia/Oceania, and Others, but a decline in Japan, despite currency headwinds and discounts.

• Operating profit for the same period decreased by 5.9% to ¥23,402 million, mainly due to cost increases, unfavorable exchange rates, yen appreciation, and increased discounts.

• Ordinary profit increased by 2.2% to ¥23,692 million, aided by interest income.

• Profit attributable to owners of parent rose 1.2% year-over-year to ¥17,055 million.

• Orders received increased by 1.3%, but order backlog decreased to ¥62,897 million, equivalent to 3.4 months of sales.

Financial highlights

• Gross profit for the period was ¥34,297 million, up from ¥32,382 million year-over-year.

• Earnings per share increased to ¥369.13 from ¥353.58 year-over-year.

• Comprehensive income dropped 56.8% year-over-year to ¥11,208 million, mainly due to negative foreign currency translation adjustments.

• Cash and cash equivalents at period end were ¥38,890 million, down ¥7,157 million from the previous fiscal year-end.

• Capital investment rose 18.2% to ¥1,651 million; R&D expenses increased 13.0%.

Outlook and guidance

• Full-year FY2025 net sales forecast is ¥223,000 million, up 4.6% year-over-year; operating profit projected at ¥38,000 million (+2.3%), ordinary profit at ¥37,300 million (+4.8%), and profit attributable to owners of parent at ¥26,400 million (+1.1%).

• Earnings per share for the full year forecasted at ¥571.44.

• Capital investment for the full year is forecast at ¥5,786 million, up 73.6%.

• Exchange rate assumptions for Q3 onward: ¥140/USD, ¥190/GBP, ¥164/EUR, ¥19.50/CNY.