Makita (6586) Q3 2026 earnings summary

Executive summary

• Revenue for the nine months ended December 31, 2025, was ¥568,778 million, flat year-over-year, with domestic revenue up 3.2% and overseas revenue down 0.6%.

• Operating profit declined 7.4% year-over-year to ¥76,247 million, mainly due to increased sales personnel and higher advertising and promotional expenses.

• Profit attributable to owners of the parent fell 7.0% to ¥57,516 million.

• EPS decreased to ¥216.57 from ¥229.88 year-over-year.

• Comprehensive income surged 77.6% year-over-year to ¥129,841 million, driven by significant exchange differences on translating foreign operations.

Financial highlights

• Revenue growth was strongest in Asia (+9.7%) and Middle East/Africa (+11.9%), while Europe (-3.9%) and North America (-10.3%) saw declines.

• Cordless product sales grew 3% year-over-year, now representing 55% of total sales.

• Production and sales volumes declined 2.9% and 3.8% year-over-year, respectively, while inventory increased 8.6%.

• Gross profit increased to ¥207,189 million from ¥203,166 million year-over-year.

• Capital expenditures rose to ¥16,142 million, R&D costs increased to ¥12,286 million, and depreciation remained stable at ¥18,700 million.

Outlook and guidance

• Full-year FYE2026 revenue is forecast at ¥760,000 million (+0.9% year-over-year), with operating profit expected to decline 6.6% to ¥100,000 million.

• EPS for the full year is projected at ¥274.87, down from ¥294.90.

• Profit attributable to owners of the parent forecast at ¥73,000 million.

• Production and sales volumes are expected to decrease 4.3% and 4.0% year-over-year, respectively, with inventory rising 4.9%.

• Capital expenditures are forecast to increase to ¥25,000 million, and R&D costs to ¥16,500 million.