Tsubakimoto Chain (6371) Q3 2026 earnings summary

Executive summary

• Net sales for FY2025-3Q rose 1.4% year-over-year to ¥209,401 million, with orders received up 5.9% to ¥218,086 million.

• Operating income declined 7.1% to ¥14,733 million, and ordinary income dropped 3.3% to ¥17,768 million.

• Net income increased 5.5% year-over-year to ¥15,772 million.

• Comprehensive income surged 47.4% year-over-year to ¥22,812 million, driven by foreign currency translation and securities valuation gains.

• A downward revision was made to the full-year forecast, with sales expected to rise 1.7% and operating income to fall 12.5% compared to FY2024.

Financial highlights

• Gross profit increased to ¥62,355 million from ¥59,917 million year-over-year.

• Basic earnings per share for the period was ¥158.94, up from ¥143.06, reflecting a 1-to-3 stock split effective October 1, 2024.

• Total assets as of December 31, 2025, were ¥382,005 million, up ¥10,494 million from March 31, 2025.

• Net assets increased to ¥266,068 million, with an equity ratio of 69.1%.

• Net cash provided by operating activities was ¥20,058 million, while net cash used in investing and financing activities were ¥4,607 million and ¥19,512 million, respectively.

Outlook and guidance

• FY2025 full-year forecast: net sales ¥284,000 million (+1.7%), operating income ¥20,000 million (-12.5%), net income ¥19,000 million (-14.1%).

• Basic earnings per share forecasted at ¥189.15.

• No changes to dividend forecast; annual dividend per share expected at ¥80.00 post-split.

• The impact of Daido Kogyo Co., Ltd. becoming a consolidated subsidiary from January 1 is not yet included in forecasts.