GS Yuasa (6674) Q1 2027 earnings summary

Executive summary

• Net sales and profits reached record highs in Q1 FY2027, with net sales rising 7.5% year-over-year to ¥141,734 million, driven by strong performance in Automotive/Mobility and Lithium-Ion Batteries segments.

• Operating profit increased 39.3% to ¥11,578 million, and ordinary profit rose 42.8% to ¥12,099 million year-over-year.

• Profit attributable to owners of parent grew 15.7% to ¥7,558 million compared to the same quarter last year.

• Upward revision of full-year forecasts for net sales and profit at all levels due to robust demand and favorable exchange rates, though some profit forecasts were later revised downward.

• Segment reporting changes and exclusion of Turkish business impacted results and comparability.

Financial highlights

• Net sales rose to ¥141.7bn, up 7.5% year-over-year; operating income increased to ¥11.6bn (8.2% margin), up 39.3%.

• Ordinary income reached ¥12.1bn (+42.8% YoY); profit attributable to owners of parent was ¥7.6bn (+15.7% YoY).

• EPS increased to ¥75.34 from ¥65.11 year-over-year.

• Gross profit for Q1 FY2027 was ¥36,348 million, up from ¥31,251 million year-over-year.

• Total assets as of June 30, 2026, were ¥750,397 million, up ¥9,412 million from March 31, 2026.

Outlook and guidance

• Full-year net sales forecast revised upward to ¥680bn (+11.7% YoY), then to ¥660,000 million (+8.4% YoY); operating profit forecast at ¥63bn (9.3% margin), later revised to ¥60,000 million.

• Lead-acid Batteries (Japan and Overseas) expected to outperform initial forecasts; Lithium-Ion Batteries profit revised downward due to procurement risks.

• Dividend forecast for FY2027 is ¥98.00 per share, up from ¥90.00 in the previous year.