Yokogawa Bridge Holdings (5911) Q2 2026 earnings summary

Executive summary

• Net sales for the first half of FY 2025 were below initial forecasts, but operating profit met or exceeded expectations due to strong performance in engineered structure system and precision equipment segments.

• Orders received for the six months ended September 30, 2025, totaled ¥70.59 billion, down 21.1% year-over-year, with notable declines in bridge and engineered structure system businesses.

• Bridge business saw a decline in net sales and orders compared to the previous year's record high, but maintained a solid order share and secured a large ODA project in Bangladesh.

• Engineered structure system business increased net sales and profits, though orders received lagged behind forecasts due to a slow market recovery.

• Engineering business grew net sales, but operating profit was impacted by an unprofitable project.

Financial highlights

• First half FY 2025 net sales: ¥69,529 million, down ¥3,402 million or 4.7% year-over-year.

• Operating profit: ¥4,489 million, up ¥494 million or 12.4% year-over-year.

• Ordinary profit: ¥4,418 million, up ¥826 million or 23.0% year-over-year.

• Profit attributable to owners of parent: ¥2,991 million, down ¥541 million or 15.3% year-over-year.

• Gross profit increased to ¥10,830 million from ¥9,940 million year-over-year.

Outlook and guidance

• Full-year net sales forecast revised down from ¥162.0 billion to ¥159.0 billion due to sluggish engineered structure system orders.

• Operating profit for the full year expected to remain at ¥12.0 billion, unchanged from initial guidance.

• Profit attributable to owners of parent projected at ¥8.1 billion, with basic EPS forecast at ¥203.71.

• Dividend per share forecast raised to ¥120 (+¥10 vs. FY 2024), maintaining a DOE of 3.5% or more.