Mabuchi Motor (6592) Q2 2026 earnings summary

Executive summary

• Net sales for the first half of FY2026 reached ¥106.384 billion, up 12.1% year over year, driven by strong automotive and life/industrial product sales and yen depreciation.

• Operating income rose 8.5% year over year to ¥13.147 billion, with ordinary income surging 63.3% to ¥18.891 billion, mainly due to improved foreign exchange gains.

• Profit attributable to owners of parent grew 41.9% year over year to ¥12.693 billion.

• Major acquisitions included Nippon Pulse Motor Co., Ltd. and MASDAC Co., Ltd., expanding the group’s reach in motion control and food machinery sectors.

• Life and industrial product sales increased due to M&A consolidation and currency trends, despite selective order taking and inventory adjustments in some segments.

Financial highlights

• Gross profit for the first half was ¥32.528 billion (30.6% margin), up 14.7% year over year.

• Comprehensive income reached ¥24.953 billion, a significant turnaround from a loss of ¥6.557 billion in the prior year.

• SG&A expenses increased 19.3% year over year, reflecting investments to support growth.

• Effective tax rate increased by 7.2 percentage points year over year to 32.3%.

• Interim dividend set at ¥35 per share, with a record-high full-year dividend forecast of ¥70 per share.

Outlook and guidance

• Full-year FY2026 net sales forecast is ¥225.0 billion, up 12.3% year over year.

• Operating income for the full year is projected at ¥26.5 billion, up 4.1% year over year; ordinary income at ¥31.3 billion (down 10.8%), and profit attributable to owners of parent at ¥22.2 billion (down 15.5%).

• Outlook reflects expected cost pressures from M&A, R&D, and infrastructure investments, offset by improved pricing and product mix.

• Automotive product sales are expected to grow despite a slight decline in global automobile production, aided by yen depreciation.

• Life and industrial product sales are forecast to remain steady, with stable demand in health and medical applications.