YONEX (7906) Q1 2026 earnings summary

Executive summary

• Achieved record-high Q1 consolidated net sales of 39.8 billion yen, up 28.3% year-over-year, driven by strong global sports market and effective marketing leveraging international tournaments and athlete achievements.

• Operating profit rose 89.1% year-over-year to 6.2 billion yen, with net profit attributable to owners up 51.5% to 4.2 billion yen.

• Basic earnings per share reached 49.60 yen, up from 32.33 yen in the prior year period.

• Growth in badminton and tennis segments, especially in China and through new product launches, offset increased SGA from higher advertising and personnel costs.

Financial highlights

• Net sales: 39,856 million yen (+28.3% YoY); operating profit: 6,277 million yen (+89.1% YoY); net profit: 4,237 million yen (+51.5% YoY).

• Gross profit margin improved to 47.2%; gross profit rose to 18,823 million yen from 14,107 million yen year-over-year.

• Ordinary profit rose 59.4% year-over-year to 5,954 million yen.

• EPS increased by 17.27 yen year-over-year.

• Total assets increased to 116,687 million yen as of June 30, 2025, from 109,551 million yen at March 31, 2025.

Outlook and guidance

• FY3/26 full-year forecast unchanged: net sales 148,000 million yen (+7.0% YoY), operating profit 14,800 million yen (+4.4% YoY), net profit 10,800 million yen (+2.0% YoY).

• Earnings per share forecasted at 126.40 yen for the full year.

• Annual dividend forecast raised to 24.00 yen per share.

• Assumptions include continued global sports market strength, but with risks from US tariffs, forex volatility, geopolitical issues, and high raw material costs.

• Planned increases in marketing and personnel investments; forecasts reflect expected yen appreciation.