Tsubakimoto Kogyo (8052) Q4 2025 earnings summary

Executive summary

• FY2025 delivered record orders, backlog, sales and profits; net sales rose 9.5% to ¥124.323bn, operating profit 15.1% to ¥6.021bn and parent-attributable profit 17.3% to ¥4.691bn.

• FY2026 guidance projects modest sales growth and higher operating profit, ordinary profit and net income amid uncertain international conditions.

Financial highlights

• Ordinary profit rose 16.8% to ¥6.513bn; gross profit was ¥19.107bn versus ¥17.495bn, while SG&A increased to ¥13.086bn from ¥12.262bn.

• Orders received increased 3.3% to ¥128.935bn and year-end backlog rose 6.1% to ¥80.757bn; sales exceeded the initial target by 7.2%.

• Japan sales totaled ¥108.830bn; by business, Power Transmission sales were ¥57.368bn, Facility & Equipment ¥56.854bn and Industrial Materials ¥10.101bn.

• Comprehensive income declined 23.5% to ¥5.641bn; extraordinary income included a ¥622m gain on investment-security sales, versus ¥315m in FY2024.

Outlook and guidance

• FY2026 targets: net sales ¥125.0bn (+0.5%), operating profit ¥6.35bn (+5.5%), ordinary profit ¥6.9bn (+5.9%) and parent-attributable profit ¥4.85bn (+3.4%).

• Target operating and ordinary profit margins are 5.1% and 5.5%; EPS is forecast at ¥260.54. First-half guidance includes sales of ¥62.5bn and operating profit of ¥3.17bn.

• Guidance assumes accurate sales recognition for large China polarization-panel facility orders in line with construction progress; capex delays or cancellations will be assessed promptly.