Takeuchi Mfg (6432) Q3 2026 earnings summary

Executive summary

• Net sales for the nine months ended November FY2025 rose 3.9% year-over-year to ¥172,833 million, driven by strong sales in Europe and Asia/Oceania, despite weaker excavator sales in the US.

• Operating profit for the nine months declined 7.0% year-over-year to ¥31,434 million, mainly due to increased US tariffs and adverse foreign exchange effects, but full-year operating profit is forecasted to rise 2.3% to ¥38,000 million.

• Ordinary profit increased 1.6% year-over-year to ¥32,884 million, supported by foreign exchange gains.

• Profit attributable to owners of parent was nearly flat year-over-year for the nine months at ¥23,473 million, with a modest full-year increase expected, impacted by higher tax expenses.

• Orders received rose 13.6% year-over-year to ¥135,955 million, but order backlog decreased significantly due to fulfillment and slower US orders in Q3.

Financial highlights

• North America accounted for 57% of nine-month sales, growing 1.2% year-over-year; Europe contributed 39.8% with 6.2% growth.

• Asia/Oceania and Others saw significant sales growth of 44.8% and 101.2% respectively for the nine months, led by a new Australian distributor.

• Gross profit for the nine months was ¥44,976 million, down from ¥47,438 million the previous year.

• Earnings per share for the period were ¥508.07, up from ¥491.78 year-over-year.

• Comprehensive income fell 16.8% year-over-year to ¥19,801 million, mainly due to negative foreign currency translation adjustments.

Outlook and guidance

• Full-year FY2025 net sales are forecasted at ¥223,000 million, up 4.6% year-over-year.

• Operating profit is expected to reach ¥38,000 million, a 2.3% increase from the previous year.

• Ordinary profit is projected to grow 4.8% year-over-year to ¥37,300 million.

• Profit attributable to owners of parent is forecasted at ¥26,400 million, up 1.1% year-over-year; EPS forecasted at ¥571.44.

• Exchange rate assumptions for Q4: 140 JPY/USD, 190 JPY/GBP, 164 JPY/EUR, 19.50 JPY/CNY.