Worth reading
75Important
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Improvement
Direction inferred from the company’s description.Scale
108
¥100 million (year-on-year change in adjusted operating profit, excluding foreign exchange)Wording
Conditional
How definitive the wording is.Contents of this document
Presentation materials for financial resultsFirst quarter of the fiscal year ended March 202610 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales11,134 Hundreds of millions of yen+5.0%
Operating profit¥1,222 100 million +10.0%adjusted operating profit
Net income¥921 100 million +21.0%profit for the quarter attributable to owners of the parent
Operating profit margin11 % adjusted operating margin
Results for the three months of the current quarterThe first-quarter results for fiscal 2026 were revenue of ¥1,113.4 billion, adjusted operating profit of ¥122.2 billion, and quarterly profit attributable to owners of the parent of ¥92.1 billion.
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Raw Materials140
Ask price30
MIX80
Number of versions-50
Processing costs0
Operating expenses-10
Foreign exchange50
Other-132
Of which, impact of U.S. tariffs-100
Of which, impact of production-site improvement activities50
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
- WTI crude oil price90 USD/bblAssumptionsIf sustained through year-end
- Impact of U.S. tariffs¥550 100 million annual gross impact
New initiatives
- Share repurchases (up to ¥150 billion)
- Raising ¥150 billion through straight bonds and other instruments
- Launching new aftermarket products and premium tires
- Promoting the multi-brand strategy
- Business cost reductions, cost optimization using the global supply chain, and stronger sales initiatives
Key KPIsA metric the company considers important as a management benchmark.
- PSR/LTR North American aftermarket demand91 % year on year
- PSR/LTR North American aftermarket sales95 % year on year
- TBR North American aftermarket demand89 % year on year
- TBR North American aftermarket sales97 % year on year
- Global PSR/LTR sales (OE+REP)101 % year on year
- Global TBR sales (OE+REP)95 % year on year
- PSR/LTR sales of 18-inch and larger tires (REP)103 % year on year
- ORR sales (ultra-large REP)96 % year on year
Unit price and quantity metricsThese figures show sales broken down by price and volume.
Selling prices, volume and mix are listed as factors behind the year-on-year change in adjusted operating profit. Tire demand and sales are stated as the year-on-year change in units.Segment results
Japan
Revenue
3,038 Hundreds of millions of yen+1.0%
Adjusted operating profit
537 Hundreds of millions of yen+26.0%
Operating margin
17.7 %
yoy_change_pp3.5
Asia, Oceania, India and China
Revenue
1,343 Hundreds of millions of yen+8.0%
Adjusted operating profit
135 Hundreds of millions of yen-8.0%
Operating margin
10 %
yoy_change_pp-1.7
Americas
Revenue
5,321 Hundreds of millions of yen+4.0%
Adjusted operating profit
379 Hundreds of millions of yen-5.0%
Operating margin
7.1 %
yoy_change_pp-0.7
Europe, the Middle East and Africa
Revenue
2,287 Hundreds of millions of yen+11.0%
Adjusted operating profit
190 Hundreds of millions of yen+109.0%
Operating margin
8.3 %
yoy_change_pp3.9
Risk amount incorporated into the outlookThe amount representing the range of variation the company expects in its forecast.
- Estimated impact of cost inflation related to the situation in the Middle East¥700 100 million gross impact for fiscal 2026DetailsAssumes a WTI crude oil price of USD 90/bbl continuing through year-end. Includes energy and logistics costs.
- Impact of U.S. tariffs¥550 100 million annual gross impact
Market Size / Share
In North America, sales exceeded demand for both PS and TB, resulting in steady market-share gains. North American aftermarket PSR/LTR demand was 91% and sales were 95%; TBR demand was 89% and sales were 97% year on year.Capital expenditures
551 Hundreds of millions of yen
Acquisition of treasury shares
Buyback limit
1,500 Hundreds of millions of yen
ProgressApproximately 51% progress by amount as of the end of April
| Item | Details |
|---|---|
| Document type | Presentation materials for financial results |
| Fiscal Period Covered | First quarter of the fiscal year ended March 2026 |
| Net Sales | 11,134 Hundreds of millions of yen (YoY +5.0%) |
| Operating profit | ¥1,222 100 million (adjusted operating profit) (YoY +10.0%) |
| Net income | ¥921 100 million (profit for the quarter attributable to owners of the parent) (YoY +21.0%) |
| Operating profit margin | 11 % (adjusted operating margin) |
| Results for the three months of the current quarter | The first-quarter results for fiscal 2026 were revenue of ¥1,113.4 billion, adjusted operating profit of ¥122.2 billion, and quarterly profit attributable to owners of the parent of ¥92.1 billion. |
| Segment results | Japan Revenue 3,038 Hundreds of millions of yen (YoY +1.0%) / Adjusted operating profit 537 Hundreds of millions of yen (YoY +26.0%) / Operating margin 17.7 % / Asia, Oceania, India and China Revenue 1,343 Hundreds of millions of yen (YoY +8.0%) / Adjusted operating profit 135 Hundreds of millions of yen (YoY -8.0%) / Operating margin 10 % / Americas Revenue 5,321 Hundreds of millions of yen (YoY +4.0%) / Adjusted operating profit 379 Hundreds of millions of yen (YoY -5.0%) / Operating margin 7.1 % / Europe, the Middle East and Africa Revenue 2,287 Hundreds of millions of yen (YoY +11.0%) / Adjusted operating profit 190 Hundreds of millions of yen (YoY +109.0%) / Operating margin 8.3 % |
| Breakdown of Factors Affecting the Change | Raw Materials 140 / Ask price 30 / MIX 80 / Number of versions -50 / Processing costs 0 / Operating expenses -10 / Foreign exchange 50 / Other -132 / Of which, impact of U.S. tariffs -100 / Of which, impact of production-site improvement activities 50 |
| Key KPIs | Indicator name PSR/LTR North American aftermarket demand / Value 91 % year on year, Indicator name PSR/LTR North American aftermarket sales / Value 95 % year on year, Indicator name TBR North American aftermarket demand / Value 89 % year on year, Indicator name TBR North American aftermarket sales / Value 97 % year on year, Indicator name Global PSR/LTR sales (OE+REP) / Value 101 % year on year, Indicator name Global TBR sales (OE+REP) / Value 95 % year on year, Indicator name PSR/LTR sales of 18-inch and larger tires (REP) / Value 103 % year on year, Indicator name ORR sales (ultra-large REP) / Value 96 % year on year |
| Unit price and quantity metrics | Selling prices, volume and mix are listed as factors behind the year-on-year change in adjusted operating profit. Tire demand and sales are stated as the year-on-year change in units. |
| Assumptions Underlying the Business Outlook | Item WTI crude oil price / Value 90 USD/bbl / Assumptions If sustained through year-end, Item Impact of U.S. tariffs / Value ¥550 100 million (annual gross impact) |
| Risk amount incorporated into the outlook | Item Estimated impact of cost inflation related to the situation in the Middle East / Value ¥700 100 million (gross impact for fiscal 2026) / Details Assumes a WTI crude oil price of USD 90/bbl continuing through year-end. Includes energy and logistics costs., Item Impact of U.S. tariffs / Value ¥550 100 million (annual gross impact) |
| Acquisition of treasury shares | Buyback limit 1,500 Hundreds of millions of yen / Period Not disclosed / Progress Approximately 51% progress by amount as of the end of April |
| Capital expenditures | 551 Hundreds of millions of yen |
| Market Size / Share | In North America, sales exceeded demand for both PS and TB, resulting in steady market-share gains. North American aftermarket PSR/LTR demand was 91% and sales were 95%; TBR demand was 89% and sales were 97% year on year. |
| New initiatives | Share repurchases (up to ¥150 billion), Raising ¥150 billion through straight bonds and other instruments, Launching new aftermarket products and premium tires, Promoting the multi-brand strategy, Business cost reductions, cost optimization using the global supply chain, and stronger sales initiatives |
Items this document does not state (14)
Ordinary incomeGross Profit MarginSelling, general and administrative expensesFull-year earnings forecastProgress against full-year forecastSelf-assessment against the planNumber of stores and locationsNumber of employeesMedium-term management plan targetsFinancial targetsAnnual DividendPayout ratioOrders received and order backlogKey points of the Q&A
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.Revenue increased due to the weaker yen, higher aftermarket tire sales in Japan, new products and the multi-brand strategy in North America, and expanded sales of premium tires, particularly high-inch tires. For adjusted operating profit, the positive effects of raw materials, mix, selling prices and foreign exchange outweighed the effects of lower volumes, operating expenses and U.S. tariffs.
How to read this page
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