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Rinnai (5947) investor relations material
Rinnai Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved record-high net sales, operating income, ordinary income, and net income attributable to owners for the first three quarters of fiscal 2026, with net sales reaching ¥339,391 million, up 2.1% year-on-year.
Growth was driven by strong performance in Japan, the US, and Australia, offsetting declines in China and South Korea.
Profitability was supported by ongoing cost-cutting, higher sales of high-value-added, energy-efficient products, and robust core product sales.
The business environment was impacted by unstable government policies, geopolitical risks, and raw material price increases.
Financial highlights
Net sales: ¥339.3 billion, up 2.1% year-on-year; operating income: ¥37.1 billion, up 5.9%; ordinary income: ¥41.8 billion, up 7.6%; net income attributable to owners: ¥27.5 billion, up 20.4%.
Net income per share: ¥197.54, up from ¥161.22 in the prior year.
Gross profit improved to ¥118,246 million from ¥112,910 million year-over-year.
Total assets at December 31, 2025, were ¥594,551 million, down from ¥606,586 million at March 31, 2025.
Equity ratio increased to 68.8% from 66.9% at the previous fiscal year-end.
Outlook and guidance
Full-year forecasts maintained: net sales ¥470 billion, operating income ¥50 billion, ordinary income ¥53.5 billion, net income ¥33 billion.
No changes to previously announced performance forecasts.
Expect to absorb rising costs in Q4; results progressing in line with plan.
Copper prices and FX fluctuations remain key uncertainties.
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