Matsuda Sangyo Co., Ltd. TSE:7456
MATSUDA SANGYO : Presentation Material for Financial Results (Q3 / FY2026)
Source: MarketScreener
Matsuda Sangyo Co., Ltd. February 13, 2026
Copyright Ⓒ MATSUDA SANGYO CO.,LTD.
This document was prepared for the purpose of deepening understanding of our company, and is not intended to solicit investment. The contents in this document were prepared based on various materials, including press releases, that have been published to date. However, we do not take any responsibility for the accuracy, completeness, relevance, or any other aspects of these contents.
Please note that we also do not take responsibility for any omissions, errors, or inaccuracies in the published text, graphs, or other
contents.
This document contains forward-looking statements related to future performance. These statements do not guarantee future performance and are subject to risks and uncertainties. Future performance may differ from the targets due to changes in the business environment and other factors.
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This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original version shall prevail.
CSR IR Dept.
Inquiry form: https://www.matsuda-sangyo.co.jp/en/contact/contact4.html
Copyright Ⓒ MATSUDA SANGYO CO.,LTD.
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Overview of Financial Results for FY3/26 3Q
Copyright Ⓒ MATSUDA SANGYO CO.,LTD.
Consolidated Financial Results
Both net sales, operating income, and quarterly net income increased compared with the same quarter of the previous year.
The forecast of financial results for the full year of FY3/26 has been revised upward as follows from the forecast published on
November 4.
FY3/25 3Q | FY3/26 3Q | Year-on-year increase (decrease) | ||
Net sales | 348.6 | 477.9 | +129.2 | +37.1% |
Operating profit | 10.8 | 14.9 | +4.1 | +37.9% |
Operating margin | 3.1% | 3.1% | +0.0pt | - |
Ordinary profit | 11.5 | 15.8 | +4.2 | +37.3% |
Profit attributable to owners of parent | 8.0 | 11.1 | +3.0 | +37.6% |
Earnings per share (yen) | 311.99 | 429.85 | +117.86 | +37.8% |
(billion yen)
FY3/26
Forecasts (Published on February 13)
650.0
20.0
3.1%
21.0
14.7
568.84
Quarterly Trend for Consolidated Financial Results
Net Sales
88.5 90.2 92.6 89.1 111.7 110.4
126.4 120.1 146.6 141.6
(billion yen)
189.7
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q
FY3/24
FY3/25
FY3/26
Operating
Profit
6.9
4.5
4.3
2.4
2.6
2.1
2.1
3.1
3.1
3.7
1.8
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q
FY3/24
FY3/25
FY3/26
Assets
(billion yen)
Consolidated Balance Sheet
March 31, 2025 | December 31, 2025 | Increase (decrease) | Main reasons for change | |
Current assets 116.1 | 149.6 | +33.4 (+) Increase in notes and accounts receivable trade, inventories | ||
Non-current assets 52.7 | 56.7 | +3.9 (+) New installation of factory equipment | ||
Total assets 168.9 | 206.3 | +37.4 | ||
Liabilities
March 31, 2025 | December 31, 2025 | Increase (decrease) | Main reasons for change | |
Current liabilities | 48.6 | 75.8 | +27.2 (+) Increase in accounts payable trade, short-term loans payable | |
Non-current liabilities | 20.1 | 25.1 | +5.0 (+) Increase in long-term loans payable | |
Interest bearing debt | 33.3 | 53.2 | +19.9 | |
Total liabilities | 68.7 | 101.0 | +32.2 | |
Net assets
March 31, 2025 | December 31, 2025 | Increase (decrease) | Main reasons for change | |
Total net assets 100.1 | 105.2 | +5.1 (+) Increase in retained earnings (-) Decrease in deferred gains or losses on hedges | ||
Total liabilities and net assets 168.9 | 206.3 | +37.4 | ||
50.8%
Shareholder’s equity ratio 59.1%
Consolidated Cash Flow Statements
(billion yen)
FY3/25 3Q | FY3/26 3Q | Increase (decrease) | Summary | |
Cash flows from operating activities | 2.5 | (14.0) | (+) Increase in quarterly net income before income taxes, (16.6) depreciation and accounts payable-trade (-) Decrease in cash from an increase in accounts receivable- trade, inventories and income tax paid | |
Cash flows from investing activities | (3.6) | (2.5) | +1.0 (+) Repayment of time deposits (-) New installation of factory equipment | |
Free cash flows | (1.0) | (16.6) | (15.6) | |
Cash flows from financing activities 0.5 | 16.4 | +15.9 (+) Increase in short-term loans, long-term loans payable (-) Cash dividends paid |
Net increase (decrease) in cash and (0.3) cash equivalents | (0.3) | (0.0) |
Cash and cash equivalents at end of 14.1 period | 11.0 | (3.0) |
Precious Metals Business Segment (Overview of Financial Results)
In the electronic devices sector of the electronics industry, while production for the EV market has continued to stagnate, robust demand for AI servers and data centers drove overall growth.
Gradual recovery in the production of semiconductors and electronic components.
Recorded year-on-year increase in both net sales and operating profit on the back of an increase in precious metals recycling
volume, including from the jewelry sector, as well as the significant rise in the market price of precious metals.
(billion yen)
FY3/25 3Q
FY3/26 3Q
Increase (decrease)
Net sales
266.2
386.7
+120.5
+45.3%
Operating profit
8.7
12.2
+3.4
+39.9%
Operating margin
3.3%
3.2%
(0.1)pt
-
FY3/26 3Q
Increase (decrease)
Reasons for increase (decrease)
Gold
300.7
+98.1
+48.4%
Quantity increased by 4.9% and
prices increased by 43.5%
Silver
24.2
+5.7
+31.0%
Quantity decreased by 3.0% and prices increased by 33.9%
Platinum group
45.2
14.6
+47.8%
Quantity increased by 16.0% and prices increased by 31.8%
Other
16.4
+2.0
+13.9%
Food Business Segment (Overview of Financial Results)
In the food production sector rising prices due to soaring raw material prices have contributed to a stronger trend toward frugality in personal consumption, resulting in a market environment of persistent cautious purchasing attitudes.
Despite a decrease in the sales volume of seafood products registered an increase in the sales volume of livestock and agricultural products, an increase in selling prices also contributed to a year-on-year increase in net sales and operating profits.
(billion yen)
FY3/25 3Q | FY3/26 3Q | Increase (decrease) | ||
Net sales | 82.4 | 91.2 | +8.7 | 10.6% |
Operating profit | 2.1 | 2.7 | +0.6 | +29.5% |
Operating margin | 2.6% | 3.0% | +0.4pt | - |
FY3/26 3Q | Increase (decrease) | Reasons for increase (decrease) | ||
Seafood products | 36.4 | +2.8 | +8.4% | Quantity decreased by 0.7% and prices increased by 9.1% |
Livestock products | 37.0 | +4.0 | +12.4% | Quantity increased by 5.6% and prices increased by 6.8% |
Agricultural products | 11.1 | +0.4 | +4.2% | Quantity increased by 3.7% and prices increased by 0.6% |
Other | 6.6 | +1.3 | +26.8% | |
Changes in Operating Profit
Precious Metals Business Segment : Significant rise in precious metal prices contributed to profit increase. Gradual volume improvement in the electronic device segment and continued volume growth in the jewelry segment.
Food Business Segment : In addition to increased sales volume of livestock and agricultural products, improved profit margins
数量要 因
価格要 因
製造費及び販 管費増加
+0.5
2.1
+0.3
(0.2)
2.7
Precious Metals
Business Segment
FY3/26 3Q
Increase in production costs and SG&A expenses
Price factor (Market impact
+Profit margin improvement)
Quantity factor
FY3/25 3Q
(billion yen)
12.2
(2.5)
+3.4
+2.6
8.7
through increased sales of products that capture customer needs and price pass-through contributed to profit increase.
Food Business
Segment
FY3/25 3Q
Quantity factor
Price factor (Profit margin improvement)
Increase in SG&A
expenses
FY3/26 3Q
AppendixCopyright Ⓒ MATSUDA SANGYO CO.,LTD.
Trends for Precious Metals Market Prices
Gold (ex-mine price, yen/g)
Silver (ex-mine price, yen/g)
銀（山元建値 円/g）
Gold (ex-mine price, yen/g)…
28,000
24,000
20,000
16,000
12,000
8,000
4,000
0
白金（N･Y$建円換 算 円/g）
22.4 22.7 22.10 23.1 23.4 23.7 23.10 24.1 24.4 24.7 24.10 25.1 25.4 25.7 25.10 26.1
500
420
340
260
180
100
20
パラジウム（N･Y$建円 換算 円/g）
22.4 22.7 22.10 23.1 23.4 23.7 23.10 24.1 24.4 24.7 24.10 25.1 25.4 25.7 25.10 26.1
Platinum (NY$ - yen conversion, yen/g)
Palladium (NY$ - yen conversion, yen/g)
14,000
12,000
10,000
8,000
6,000
4,000
2,000
0
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22.4 22.7 22.10 23.1 23.4 23.7 23.10 24.1 24.4 24.7 24.10 25.1 25.4 25.7 25.10 26.1
12,000
10,000
8,000
6,000
4,000
2,000
0
22.4 22.7 22.10 23.1 23.4 23.7 23.10 24.1 24.4 24.7 24.10 25.1 25.4 25.7 25.10 26.1
Copyright Ⓒ MATSUDA SANGYO CO.,LTD.
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MATSUDA SANGYO CO., LTD.