Rinnai Corporation TSE:5947

Rinnai : Financial Results (1,200KB)

Published

Source: MarketScreener



Financial Results for First Three Quarters of Fiscal 2026, ending March 31, 2026

February 12, 2026



Progress on Recall of Bathroom Heater/Dryers

  • Recall progressing largely as planned (inspections conducted by employees now winding down)

  • Overview of bathroom heater/dryer recall (Announced April 15, 2025)

  • Affected products: Bathroom heater/dryers

  • Number of affected units: 372,398 *Units still in market: Unknown (Manufactured between August 2003 and August 2020)

  • Inspection details： Attach a control board to prevent ignition

  • Work time per unit: Approx. 1 hour

  • Implementation period: From May 2025

*Allowance for product guarantee: ¥2,540 million (recorded in fiscal year ended March 2025)

  • Progress (as of December 31, 2025)

  • Number of requests received: 207,105

  • Number of inspections completed: 201,079 (completion rate: 97.1%)

  • Personnel structure: Service shop inspectors

    Rinnai employees: Approx. 350

    Scaled to team of several dozen personnel (from January 2026)

    Requests received and inspections completed

    • Number of requests received

  • Number of inspections completed Completion rate

8.7% 27.5% 45.8%

84.5%

93.9% 97.1%

57.2% 72.8%

May June July Aug. Sep. Oct. Nov. Dec.

2025 2025 2025 2025 2025 2025 2025 2025



25'5

25'6

25'7

25'8

25'9

25'10

25'11

25'12

  • Future recall response measures ■Impact on business performance

Will maintain response team consisting of service shop inspectors and several dozen Rinnai employees; will continue market response activities (including for outstanding cases)

Allowance for product guarantee (recorded in fiscal 2025, ended March 31, 2025) has been fully utilized; partial increase in expenses expected in second half of current fiscal year, but impact on business performance expected to be minimal

Results of First Three Quarters of Fiscal 2026

Fiscal 2026 (First Three Quarters): Consolidated Performance Overview

  • Year-on-year increases in revenue and income with steady contributions from each region despite ongoing global economic uncertainty

Record-high level

Net sales: ¥339.3 billion (up 2.1% year on year)

Increase in net sales even as major economies overall move into adjustment period



Record-high level

Operating income: ¥37.1 billion (up 5.9% year on year, Operating income to net sales ratio:10.9%) Increase in operating income thanks to higher revenue and ongoing cost-cutting efforts despite continued increases in various costs

Record-high level

Ordinary income: ¥41.8 billion (up 7.6% year on year, Ordinary income to net sales ratio: 12.3%)

Higher ordinary income due to increased operating income and foreign exchange gains

Net income attributable to owners of the parent company: ¥27.5 billion

Record-high level

(up 20.4% year on year, Net income to net sales ratio: 8.1%)

Recorded ¥799 million of "Reversal of allowance related to antimonopoly law" in extraordinary income following settlement between Rinnai

Brasil Heating Technology Ltd. (subsidiary) and local authorities in Brazil



Fiscal 2026 (First Three Quarters): Consolidated Financial Results

  • Second consecutive period of year-on-year net sales increase backed by growth in sales of high-value-added products emphasizing energy efficiency and functionality despite uncertain market environment

  • Signs of gradual improvement in consolidated profit margins; will continue monitoring market conditions and cost trends

Net Sales

Operating Income

Attributable to owners of the parent company

Net Income

[Billions of Yen] [Billions of Yen] [Billions of Yen]

3,500

3,000

2,500

2,000

1,500

1,000

500

0

350

300

250

200

150

100

50

0

'21

FY2022 3Q

'22

FY2023 3Q

FY2024

'23

3Q

FY2025

'24

3Q

FY2026 3Q

40

400

350

300

250

200

150

100

50

0

Operating income to net sales ratio

10.2% 10.7%

8.2%

10.5% 10.9%



35

30

25

20

15

10

5

0

'25

'21

FY2022 3Q

'22

FY2023 3Q

'23

FY2024 3Q

'24

FY2025 3Q

30

300

250

200

150

100

50

0

Net income to Net sales ratio

6.7% 6.8%

5.6%

6.9%

8.1%

FY2022 FY2023 FY2024 FY2025 FY2026

3Q 3Q 3Q 3Q 3Q



25

20

15

10

5

0

'25

'21

'22

'23

'24

'25

FY2026

3Q

Fiscal 2026 (First Three Quarters): Net Sales by Product

[Billions of yen]

Fiscal 2025 3Q

Fiscal 2026 3Q

YOY

Change

Amount

% of total

Amount

% of total

Amount

(%)

Water heaters

196.50

59.1%

198.81

58.6%

+2.30

+1.2%

Kitchen appliances

72.83

21.9%

70.42

20.7%

-2.41

-3.3%

Air conditioning appliances

16.58

5.0%

18.02

5.3%

+1.44

+8.7%

Commercial-use equipment

8.63

2.6%

8.69

2.6%

+0.06

+0.8%

Others

37.76

11.4%

43.43

12.8%

+5.66

+15.0%

Total

332.31

100.0%

339.39

100.0%

+7.07

+2.1%

Fiscal 2026 (First Three Quarters): Consolidated Sales/Income Results

[Billions of yen]

Net Sales

YOY Change

Operating

Income

YOY Change

Operating Margin

YOY Change

Consolidated

339.39

+2.1%

37.13

+5.9%

10.9%

+0.4pt

[Billions of yen]

Net Sales

YOY Change

Operating Income

YOY Change

Operating Margin

YOY Change

Japan

154.62

+2.3%

21.06

+11.6%

13.6%

+1.1pt

United States

51.79

+8.5%

1.16

+12.3%

2.3%

+0.1pt

Australia

32.40

+24.0%

1.84

+77.5%

5.7%

+1.7pt

China

37.17

-17.1%

5.73

-6.7%

15.4%

+1.7pt

South Korea

24.50

-1.0%

0.91

+50.0%

3.8%

+1.3pt

Indonesia

13.55

+4.0%

2.93

-1.2%

21.7%

-1.1pt

Others

25.31

+2.9%

3.80

-1.1%

15.0%

-0.6pt

Adjustments

-

-

-0.34

-

-

-

Fiscal 2026 (First Three Quarters): Consolidated Operating Income Analysis

  • Increase in operating income as increased fixed costs in Japan and overseas offset by higher revenue and cost reductions

[Billions of Yen]

35.05

Effect of domestic revenue increase

+3.35

Effect of local revenue increase at overseas subsidiaries

+0.22

[-2.30]

Increased fixed costs in Japan

-2.41

Increased fixed costs

overseas Effect of raw materials

prices

Cost-cutting

efforts, etc.

+2.15

YOY change

+¥2.08

billion

37.13 -2.29

[+1.89]

+1.06

[-0.07]

*Overseas local procurement

Fiscal 2025

Forex effect -0.48

The applicable rates are listed on [Reference data, page 7]

Fiscal 2026

* From April to December, 2025

Japan Fiscal 2026 (First Three Quarters) Results

  • Segment companies

    Rinnai (non-consolidated basis), Domestic consolidated

    subsidiaries (manufacture and sales of products)

  • Net sales by product, Fiscal 2026 (3Q) results

    equipment 1.1%

    Others

    14.4%

    Kitchen Water appliances heaters 27.5% 54.0%



    Commercial-use



    Gas clothes dryers

  • Non-consolidated results of major company

    Rinnai (non-consolidated basis)

    • Market supported by renovation demand amid sluggish conditions in new housing market

    • Steady performance supported by strong sales of core products as demand peaked in 3Q

    • Improving profitability sustained through continuous cost reduction efforts

      Rinnai (non-consolidated basis), Fiscal 2026 (3Q) results

      単四半期営業 利益の推移

      ─●─ Operating income sales ratio

      175.71 181.95 [Billions of Yen]

      155.32

      9.2%

      9.8%

      6.6%

      Progress on quarterly operating income

      3.96

5.18

8.73



  • Net sales ■Operating income

[Billions of Yen]



Built-in hobs (stovetops)

Air-conditioning appliances 3.1%

Hybrid water heaters

10.32

16.15

17.89

Fiscal 2024

Fiscal 2025

Fiscal 2026

  • Segment results

    [Billions of Yen]

    Fiscal 2025

    Fiscal 2026

    YOY change

    Net Sales

    151.22

    154.62

    +2.3%

    Operating Income

    18.87

    21.06

    +11.6%

    Operating income

    to net sales ratio

    12.5%

    13.6%

    +1.1pt

    [Billions of Yen]

    Fiscal 2025

    Fiscal 2026

    YOY change

    [Sales volume in Japan]

    YOY change

    Net Sales

    175.71

    181.95

    +3.6%

    Water heater with

    heating systems

    +6.4%

    Hybrid water heaters

    +9.7%

    Operating Income

    16.15

    17.89

    +10.8%

    Built-in hobs (stovetops)

    -2.9%

    Operating income to net sales ratio

    9.2%

    9.8%

    +0.6pt

    Gas clothes dryers

    +3.5%

    Japan Topics Reinforced Lineup of Key Products

    Hybrid water heater with heating systems

    Air Bubble product

    Gas clothes dryers

    Combines gas and electricity to achieve highest efficiency in the industry



    Fine bubbles enhance bathing comfort and make cleaning easier



    Quick drying with powerful warm air generated by gas



    • Ongoing growth in sales of key products contributing to higher profitability

  • Continuation of METI subsidy program for promoting energy efficiency

Share of air bubble Eco Jozu sales breakdown installations among Eco- Growth in sales of air bubble Jozu sales (fiscal 2026/3Q) models contributed to higher

Eco-Jozu sales ratio

Standard type Deluxe type Deluxe type

Under-eaves installation

Fiscal Fiscal Fiscal Fiscal Fiscal Fiscal 2021 2022 2023 2024 2025 2026

3Q total

Balance of energy efficiency with strong product competitiveness contributing to added value enhancement

Gas clothes dryers: Unit sales, Share of Deluxe type

Share of Deluxe type 60(%)

Standard type:

Unit sales 50

Deluxe type: Unit sales

40

FY2024 FY2025

FY2026

(Fro Dec.)

30

m Apr. to

50%

40%

30%





2025 2026

(％)

17%

83%

¥120,000/unit

Budget:

¥57.0 billion

¥150,000/unit

Budget:

¥58.0 billion

Overall budget scale to be maintained and number of supported units set to increase despite reduction in per-unit subsidy

(Estimated supported units:

Approx. 450,000 in 2025 Approx. 500,000 in 2026)

(supplementary budget proposal)

  • Growing recognition of air bubble technology to drive further expansion Cumulative sales exceeding 170,000 units (As of December 2025)

  • Gradually expanding lineup to meet consumer needs while addressing installation-related challenges

    * From January to September, 2025

    United States Fiscal 2026 (First Three Quarters) Results

  • Segment company

    Rinnai America

    • Net sales by product, Fiscal 2026 (3Q) results

      Commercial-use equipment 0.4%

  • Non-consolidated results of major company

Rinnai America

  • Consumer sentiment remains weak with lack of recovery in new housing market despite down-trending interest rates

  • Steady sales of condensing water heaters driven by proactive sales activities

  • Increase in operating income in three quarters despite lower third quarter income stemming from difference in timing of tariff-related price adjustments



    Air-conditioning appliances 4.5%

    Others 8.9%

    Rinnai America, Fiscal 2026 (3Q) results

    [Billions of Yen]

    Non-Condensing water heaters

    • Segment results

      Water heaters 86.3%

      Progress on

      quarterly operating income

      0.45

      0.61

      0.17

      • Net sales ■Operating income

      ─●─ Operating income to net sales ratio [Billions of Yen]

      47.73

      51.79

      41.62

      2.2%

      2.4%

      -4.5%

      -1.88 1.05

      Fiscal 2024 Fiscal 2025

      1.24

      Fiscal 2026





      Condensing water heaters

      (High efficiency models)

      [Billions of Yen]

      Fiscal 2025

      Fiscal 2026

      YOY change

      Net Sales

      47.73

      51.79

      +8.5%

      Operating Income

      1.04

      1.16

      +12.3%

      Operating income

      to net sales ratio

      2.2%

      2.3%

      +0.1pt

      [Billions of Yen]

      Fiscal 2025

      Fiscal 2026

      YOY change

      [Sales volume]

      YOY change

      Yen

      Local currency

      Net Sales

      47.73

      51.79

      +8.5%

      +9.8%

      Tankless water heaters

      +2.5%

      Operating Income

      1.05

      1.24

      +18.5%

      +19.9%

      Condensing water heaters of total (High-efficiency

      models)

      +9.6%

      Operating income to net sales ratio

      2.2%

      2.4%

      +0.2pt

      United States Topics Tariff Impact and Response Measures

  • Flexible price adjustments to absorb costs arising from additional or revised tariffs

Tariff

Steel and aluminum

(KD Parts, etc.)

1Q

2Q

Jan.-Mar. Apr.-Jun.

Price revision

3Q 4Q

Jul.-Sep. Oct.-Dec.

25%

50%

Copper

(Heat exchangers, etc.)

50%

Reciprocal tariffs

(Finished products, etc.)

10%

15%

1Q

2Q

3Q

Impact of tariffs

(Amount paid)

-

Approx. Approx.

¥280 million ¥1.2 billion



  • No material impact from tariffs on unit sales at this stage

  • Tankless segment (focus for Rinnai) growing, albeit slowly, despite overall water

heater market stagnation

  • Status of tariff impact and price adjustments ■Impact on water heater market

    Market unit sales

    Year on year (cumulative)

    1Q

    2Q

    3Q

    Water heater market

    +0.3%

    +0.7%

    +0.2%

    Tankless water heater market

    -0.5%

    +5.3%

    +1.5%

    * From January to September, 2025

    China Fiscal 2026 (First Three Quarters) Results

  • Segment company

    Shanghai Rinnai, Guangzhou Rinnai, Rinnai Hong Kong



  • Net sales by product, Fiscal 2026 (3Q) results

  • Non-consolidated results of major company

    Shanghai Rinnai

    • Subsidy funds running dry; no visible signs of market recovery; consumer sentiment remains cool

    • Market inventories normalized thanks to detailed sales measures by distributors and EC channels despite revenue decline

    • Profitability maintained through agile production adjustments and cost controls despite revenue decline

      Kitchen appliances 4.7%

      Others 3.6%

      Shanghai Rinnai, Fiscal 2026 (3Q) results

      Progress on

      quarterly operating income

      2.93

      0.94

      1.15

      • Net sales ■Operating income

      ─●─ Operating income to net sales ratio [Billions of Yen]

      44.83

      43.62

      36.07

      17.5%

      12.7%

      13.9%

      7.85

      5.56

      5.03

      Fiscal 2024

      Fiscal 2025

      Fiscal 2026



      [Billions of Yen]



      Built-in hob (stovetops)

  • Segment results

    Water heaters 91.7%

    Water heaters



    0

    Boilers

    [Billions of Yen]

    Fiscal 2025

    Fiscal 2026

    YOY change

    Net Sales

    44.84

    37.17

    -17.1%

    Operating Income

    6.15

    5.73

    -6.7%

    Operating income to net sales ratio

    13.7%

    15.4%

    +1.7pt

    [Billions of Yen]

    Fiscal 2025

    Fiscal 2026

    YOY change

    [Sales volume]

    YOY change

    Yen

    Local currency

    Water heaters

    -20.0%

    Net Sales

    43.62

    36.07

    -17.3%

    -15.9%

    Built-in hob (stovetops)

    -22.2%

    Operating Income

    5.56

    5.03

    -9.5%

    -8.0%

    Range hoods

    -39.1%

    Operating income to net sales ratio

    12.7%

    13.9%

    +1.2pt

    Boilers

    -13.8%

    China Topics Initiatives to address challenging business environment

  • Maintained market competitiveness backed by rising external recognition despite sluggish market conditions

  • First-ever award received in the gas water heater category in

    "JD Gold List" (JD.com Ranking)*

    *Official ranking based on sales performance and customer evaluations on JD.com (major Chinese e-commerce platform)

    JD.com is a massive platform with second-largest share of China's e-commerce market

    Award criteria: Based on a comprehensive evaluation of sales and quality

    • Sales: Cumulative sales to consumers during the period

    • Quality: Product popularity ratings, return rates, customer reviews, sampling

  • Anticipated benefits of award



    Advertising benefits from priority display positions and exposure in dedicated JD.com channels

    inspections, etc. Approximately 1 billion consumers



    use "JD Gold List" as reference when

    making online purchases

    • Strategic direction for our business in China

      • Maintain and promote high-quality brand image based on Japanese quality standards

      • Ensure price discipline and thoroughly implement profitability-focused EC sales

* From January to September, 2025

Australia Fiscal 2026 (First Three Quarters) Results

Rinnai Australia

  • Segment company

    Commercial-use equipment 5.5%

    Others 24.7%

    Water heaters 39.7%

    Air-conditioning appliances 30.1%

    Duct-type air



  • Net sales by product, Fiscal 2026 (3Q) results





    Fiscal 2024 Fiscal 2025 Fiscal 2026

    [Billions of Yen]

    Fiscal 2025

    Fiscal 2026

    YOY change

    [Sales volume]

    YOY change

    Yen

    Local currency

    Net Sales

    26.22

    32.49

    +23.9%

    +30.6%

    Tankless water heaters -4.5%

    Operating

    Income

    1.30

    2.26

    +74.0%

    +83.4%

    Electric tank-based water heaters

    +1.6%

    Operating income to net sales ratio

    5.0%

    7.0%

    +2.0pt

    Duct-type

    air-conditioning and heating systems

    +146.8%

    Tankless water heaters

  • Non-consolidated results of major company

    Rinnai Australia

    • Gas appliance market shrinking due to electrification trends despite elevated housing demand

    • Growth in revenue supported by increased sales of electrification-related products centered on heat pump water heaters

    • Ongoing increase in profit supported by enhanced profitability from M&A synergies

      5.2%

      5.0%

      7.0%

      1.17

      1.30

      2.26

      Progress on quarterly operating income

      1.00 1.02

      0.23

  • Net sales ■Operating income

─●─ Operating income to net sales ratio

32.49

26.22

22.76

[Billions of Yen]

[Billions of Yen]



Rinnai Australia, Fiscal 2026 (3Q) results

conditioning and heating systems

[Billions of Yen]

Fiscal 2025

Fiscal 2026

YOY change

Net Sales

26.12

32.40

+24.0%

Operating Income

1.03

1.84

+77.5%

Operating income to net sales ratio

4.0%

5.7%

+1.7pt

  • Segment results

    Electric tank-based water heaters

    Australia Topics Increasing value provided as residential environment solutions

  • Emerging synergies from acquisition of Smart Energy, strengthening foundations of our gas and electrification businesses

  • Building a foundation responding flexibly to structural market changes while capturing expanding electrification demand (including through government-led subsidies)

Energy management systems

Gas tankless water heaters Electric storage-type Solar Heat pump Electric tankless

water heaters water heaters water heaters water heaters

After acquisition of Smart Energy

Gas space heaters

Home air conditioners Portable

air conditioners

Ducted air conditioners

Solar power generation systems

Storage batteries



Electric

Water heaters

  • Main products sold by Rinnai Australia

    Gas

Air-conditioning appliances

  • Growth of our renewable energy business in Australia

    Other (electric)

    Strengths of Smart Energy

    Residential battery installations

    No. 1 in industry



    Honored by independent research company

    Government subsidy scheme for battery storage introduced in July 2025, driving faster uptake through lower initial costs

    Electricity prices rising year by year; consumers benefit from lower electricity costs through self-generation and self-consumption using storage batteries

* From January to September, 2025

South Korea Fiscal 2026 (First Three Quarters) Results

Rinnai Korea, RB Korea

  • Segment company

  • Net sales by product, Fiscal 2026 (3Q) results

  • Non-consolidated results of major company

    Rinnai Korea

    • Ongoing weakness in new housing market due to economic slowdown

    • Continued growth in local-currency sales despite weak market conditions

    • Increase in profit driven by growth in sales of high-value-added products



      Gas tabletop cookers

      Others 17.0%



      Water

      Rinnai Korea, Fiscal 2026 (3Q) results

      • Net sales ■Operating income

      ─●─ Operating income to net sales ratio [Billions of Yen]

      Progress on

      quarterly operating income

      20.23

      22.60

      22.18

      0.16

      -0.0%

      0.00

      Fiscal 2024

      2.4%

      3.7%

      0.54 0.82

      Fiscal 2025 Fiscal 2026

      0.27

0.38



[Billions of Yen]



Commercial-use equipment

heaters 39.8%

Electric tabletop cookers

12.7%

Kitchen appliances 30.5%

Environmentally friendly boilers

  • Segment results

    [Billions of Yen]

    Fiscal 2025

    Fiscal 2026

    YOY change

    Net Sales

    24.74

    24.50

    -1.0%

    Operating Income

    0.61

    0.91

    +50.0%

    Operating income to net sales ratio

    2.5%

    3.8%

    +1.3pt

    [Billions of Yen]

    Fiscal 2025

    Fiscal 2026

    YOY change

    [Sales volume]

    YOY change

    Yen

    Local currency

    Boilers

    +18.1%

    Net Sales

    22.60

    22.18

    -1.9%

    +4.6%

    Gas tabletop cookers

    -8.3%

    Operating Income

    0.54

    0.82

    +52.9%

    +62.9%

    Operating income to net sales ratio

    2.4%

    3.7%

    +1.3pt

    Electric tabletop

    cookers

    -5.4%

    * From January to September, 2025

    Indonesia Fiscal 2026 (First Three Quarters) Results

P.T. Rinnai Indonesia

  • Segment company

  • Net sales by product, Fiscal 2026 (3Q) results

  • Non-consolidated results of major company

    P.T. Rinnai Indonesia

    • Interest rates trending downward; housing market growth slowing due to weak public sector investment

    • Increase in sales led by strong demand for tabletop stoves

      Others 3.1% Water heaters 1.4%

      Commercial-use equipment 10.2%

      Tabletop cookers

      Kitchen appliances 85.3%



    • Continued higher sales and income in local-currency terms, but foreign exchange translation resulted in slight income decrease (yen terms)



    Progress on

    quarterly operating income

    1.08

    0.94

    0.99

    P.T. Rinnai Indonesia, Fiscal 2026 (3Q) results

    • Net sales ■Operating income

    ─●─ Operating income to net sales ratio [Billions of Yen]

    [Billions of Yen]

    12.38

    13.63

    14.00

    17.9%

    2.21

    22.4%

    3.05

    21.6%

    3.02

    Fiscal 2024

    Fiscal 2025

    Fiscal 2026



    Range hoods Built-in hobs (stovetops)

    [Billions of Yen]

    Fiscal 2025

    Fiscal 2026

    YOY change

    [Sales volume]

    YOY change

    Yen

    Local currency

    Net Sales

    13.63

    14.00

    +2.7%

    +7.6%

    Tabletop cookers

    +5.1%

    Operating Income

    3.05

    3.02

    -1.1%

    +3.6%

    Built-in hob

    (stovetops)

    +1.2%

    Operating income to net sales ratio

    22.4%

    21.6%

    -0.8pt

    Range hoods

    -15.4%

  • Segment results

    [Billions of Yen]

    Fiscal 2025

    Fiscal 2026

    YOY change

    Net Sales

    13.04

    13.55

    +4.0%

    Operating Income

    2.97

    2.93

    -1.2%

    Operating income

    to net sales ratio

    22.8%

    21.7%

    -1.1pt

    Other Regional Topics MT Industrial（MTI） Newly Consolidated as Subsidiary

  • Strengthening sales networks and expanding growth opportunities in Peru and neighboring countries through the acquisition of MTI

  • Objectives of MTI acquisition

    MTI: Net sales by product

    MTI: Sales forecast

    Expected increase in

    demand driven by growth in households using natural gas



    (2024 results)

    • Anticipated synergistic benefits

    Use base as regional hub for western South America to strengthen sales to neighboring countries

Expansion of business scale by selling Rinnai's product portfolio (commercial equipment, dryers, etc.)

Cross-utilization of both brands by

leveraging MTI's strong sales network

Peru positioned as strategically important Latin American market, with natural gas demand expected to grow due to demographic and policy factors; acquisition of a leading local distributor (MTI) aimed at expanding our coverage across Latin America



Others

Air-conditioning 17.4%

appliances 4.3%

Kitchen

Water heaters 37.2%

appliances 41％

  • No. 1 market share in unit sales in 7 product categories

Key business foundation highly aligned with Rinnai's businesses

Electric tankless Electric storage-type water heaters water heaters

Gas tankless water heaters

Water purifiers

Built-in hobs (stovetops)

Ovens

Range hoods



Progress of Consolidated Earnings Forecast

  • Expect to achieve full-year targets with rising costs to be absorbed in 4Q despite continued copper price increases

  • Maintaining full-year forecasts with results progressing in line with plan

Reference: Exchange rates

[Millions of Yen]

Net sales

Operating

income

Vs Net

sales

Ordinary

income

Vs Net

sales

Net income attributable to owners of the parent company

Vs Net

sales

Consolidated sales/income results

[Plan]

Full year

470,000

50,000

10.6%

53,500

11.4%

33,000

7.0%

YOY change

+2.1%

+8.7%

+6.3%

+11.1%

FY2026 (3Q)

Applicated

exchange rates

FY2026

(beginning) Assumed exchange rates

USD

148.824

145.000

AUD

94.970

95.658

CNY

20.597

20.135

KRW

0.1051

0.1066

IDR

0.00911

0.00917

Consolidated financial results [Actual]

Third quarter

339,391

37,132

10.9%

41,817

12.3%

27,538

8.1%

YOY change

+2.1%

+5.9%

+7.6%

+20.4%

Vs progress on

full year plan

72.2%

74.3%

78.2%

83.4%

  • Copper prices and foreign exchange fluctuations remain particular sources of uncertainty for achieving future targets

Reference:

Electrolytic copper prices

1800

1600

1400

1200



1800 (Yen/1kg)

1600

1400

4月 5月 6月 7月 8月 9月 10月 11月12月

Apr. May Jun. Jul. Aug. Sep. Oct. Nov. Dec.

1200



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