Yodoko (5451) Q2 2026 earnings summary

Executive summary

• Net sales for the first six months ended September 30, 2025, decreased by 3.3% year-over-year to ¥101,876 million, with operating profit down 6.4% to ¥7,314 million and ordinary profit down 3.2% to ¥8,876 million.

• Profit attributable to owners of parent rose 4.4% year-over-year to ¥6,043 million, despite lower sales and operating profit.

• Domestic sales and earnings declined due to lower steel sheet product volumes, while overseas sales increased, mainly from higher volumes at SYSCO in Taiwan, though earnings were impacted by U.S. tariffs.

Financial highlights

• Gross profit for the period was ¥18,657 million, up from ¥17,426 million year-over-year.

• Net income per share was ¥41.78, slightly up from ¥41.71 year-over-year, reflecting a 1-to-5 share split effective July 1, 2025.

• Total assets increased marginally to ¥264,419 million as of September 30, 2025, with net assets rising to ¥217,392 million.

• Equity ratio improved to 74.4% from 73.7% at the previous fiscal year-end.

• Comprehensive income rose 6.6% year-over-year to ¥10,261 million.

Outlook and guidance

• Full-year forecast for FY3/26 projects net sales of ¥199,000 million (up 4.5% year-over-year), operating profit of ¥11,600 million (up 16.5%), and profit attributable to owners of parent of ¥11,500 million (up 14.8%).

• Net income per share for the full year is forecast at ¥79.49, adjusted for the share split.

• The business environment remains challenging due to global trade friction, steel oversupply, and uncertain demand and cost conditions.