Yodoko (5451) Q4 2025 earnings summary

Executive summary

• FY3/25 net sales rose 2.2% to ¥208,460 million; operating profit increased 15.6% to ¥13,889 million and ordinary profit rose 41.8% to ¥21,551 million.

• Profit attributable to owners of parent climbed 202.9% to ¥13,499 million, partly reflecting the prior-year product-warranty provision; earnings exceeded February guidance despite sales slightly missing it.

• FY3/26 guidance projects lower sales and profits amid global risks and subdued Japanese demand.

Financial highlights

• FY3/25 gross profit increased to ¥34,149 million from ¥31,769 million; EPS was ¥467.03 versus ¥154.29.

• Sales were ¥0.53bn below February guidance, while operating profit, ordinary profit and parent-attributable profit exceeded guidance by ¥0.78bn, ¥0.95bn and ¥0.69bn, respectively.

• FY3/25 dividend was ¥351 per share, with a 75.2% payout ratio.

• Operating cash flow was ¥11,311 million, down from ¥21,521 million; investing and financing outflows increased.

Outlook and guidance

• FY3/26 consolidated forecast: sales ¥203,000 million (-2.6%), operating profit ¥11,400 million (-17.9%), ordinary profit ¥16,100 million (-25.3%) and parent-attributable profit ¥10,400 million (-23.0%).

• Non-consolidated FY3/26 forecast: sales ¥119,000 million (-7.0%), operating profit ¥7,600 million (-29.7%), ordinary profit ¥12,800 million (-30.2%) and profit ¥9,200 million (-29.3%).

• Forecast assumes lower sales volumes amid U.S. trade-policy risks, global economic instability and no significant recovery in domestic demand.

• FY3/26 dividend forecast is ¥54 per share pre-split; policy targets a minimum annual dividend of ¥200 post-split and a payout ratio of at least 75%.