MATSUDA SANGYO (7456) Q2 2026 earnings summary

Executive summary

• Net sales for the six months ended September 30, 2025, were ¥288.2B, up 29.7% YoY, with operating profit at ¥8.1B, up 28.4% YoY, and profit attributable to owners at ¥6.1B, up 31.7% YoY, driven by strong performance in the Precious Metals and Food segments.

• Upward revision of full-year forecasts for net sales, operating profit, and EPS, with annual dividend forecast raised to ¥100/share.

• Shareholder returns policy emphasizes stable dividends and flexible share buybacks.

• Precious metals segment benefited from strong demand in AI servers, data centers, higher metal prices, and increased recycling; food segment saw higher sales and profit due to livestock and agricultural products.

Financial highlights

• Net sales for 1H FY3/26: ¥288.2B, up 29.7% YoY; operating profit: ¥8.0B, up 28.4% YoY; ordinary profit: ¥8.4B, up 28.3% YoY; profit attributable to owners: ¥6.1B, up 31.7% YoY.

• Gross profit for the period was ¥20.7B, up from ¥17.3B YoY.

• Basic EPS increased to ¥235.04 from ¥178.34 YoY.

• Comprehensive income decreased to ¥4.0B from ¥6.1B YoY, mainly due to negative movements in other comprehensive income items.

• Cash and cash equivalents at period end: ¥13.7B, up ¥2.2B from previous year-end.

Outlook and guidance

• Full-year net sales forecast revised to ¥550.0B (+17.3% YoY); operating profit to ¥15.4B (+21.5% YoY); ordinary profit to ¥16.2B (+19.8% YoY); profit attributable to owners to ¥11.5B (+21.6% YoY).

• EPS forecast raised to ¥443.72 (+21.6% YoY).

• Precious Metals segment net sales expected at ¥430.0B (+18.9% YoY); Food segment at ¥120.0B (+11.9% YoY).

• Annual dividend forecast is ¥100/share, with no revisions from previous guidance.