Worth reading
75Important
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Mixed performance
Direction inferred from the company’s description.Scale
-90
¥100 million (difference from the forecast business profit at the second-quarter stage)Wording
Definitive
How definitive the wording is.Contents of this document
Results presentationThird quarter of the fiscal year ending December 202612 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales9,443 yen+10.0%
Operating profit546 yen+18.0%
Ordinary income505 yen+25.0%
Net income354 yen+36.0%
Operating profit margin5.8 %
Selling, general and administrative expenses2,320 yen
Results for the three months of the current quarter
Revenue
3,245 yen+12.0%
Business profit
192 yen-5.0%
Operating profit
164 yen-14.0%
Quarterly profit
95 yen-18.0%
Full-year earnings forecast
Revenue
12,700 yen
Business profit
870 yen
Operating profit
800 yen
Profit for the period
480 yen
ROIC
5.2 %
ROE
6.5 %
ROA
5.7 %
D/E Ratio
0.6 Times
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Mixed (domestic SYNCHRO WEATHER exceeded the plan, European off-take products achieved 62% of the plan, and total tire sales were in line with the plan)Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Operating profit, Jan–Sep 2026 vs. prior year
Raw Materials68
Price-37
Volume, mix and other factors95
Direct costs-32
Fixed Costs-30
Foreign Exchange85
Expenses-84
Sports44
Industrial Products and Other-4
Full-year operating profit forecast vs. prior year
Raw Materials-50
Price7
Volume, mix and other factors103
Direct costs-35
Fixed Costs-48
Foreign Exchange115
Expenses-156
Sports22
Industrial Products and Other4
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
- Average USD exchange rate159 JPY/USD
- Average EUR exchange rate183 JPY/EUR
- Natural rubber (TSR20), 2026 full-year average$1.97 /kg
- Crude oil (DUBAI), 2026 full-year average$81 /bbl
New initiatives
- Launch of WINTER MAXX ICE Pro
- SYNCHRO WEATHER rollout in Europe and North America in the second half of 2027
- Creation of a cumulative ¥30 billion impact through Project ARK from 2028 to 2030
- Introduction of the SUN-TITAN SYSTEM at the Thailand plant and expansion of large-diameter tire production capacity
- Expansion of BLUE RESPONSE A/S's North American size lineup
Key KPIsA metric the company considers important as a management benchmark.
- Annual tire unit sales9,836 10,000 unitsYear on year against the same period last year+101.0%
- Premium tire mix (2026 forecast)50 %Year on year against the same period last year+3.0%
- European unit sales (replacement tires)131 Year-on-year %
- North American unit sales (replacement tires)105 Year-on-year %
- German market share8 %Year on year against the same period last year+2.0%
Unit price and quantity metricsThese figures show sales broken down by price and volume.
- Domestic SYNCHRO WEATHER transaction volume per store5 Year-on-year, approximately 5xYear on year against the same period last yearApproximately 5x
- Tire unit sales9,836 10,000 unitsYear on year against the same period last year+101.0%
- Natural rubber price (TSR20, 2026 full-year average)$1.97 /kgYear on year against the same period last year+7.7%
Segment results
Tires
Revenue
8,154 yen+10.0%
Business profit
474 yen+16.0%
Sports
Revenue
1,007 yen+8.0%
Business profit
90 yen+94.0%
Industrial Products and Other
Revenue
282 yen0.0%
Business profit
26 yen-11.0%
Financial targets
ROIC
5.2 %
ROE
6.5 %
ROA
5.7 %
D/E Ratio
0.6 Times
Equity ratio
48.1 %
Market Size / Share
- Japan all-season market CAGR (2025 to 2030)15 %
- North American all-weather market CAGR (2025 to 2030)11 %
- European all-weather market CAGR (2025 to 2030)3 %
- German market share8 %
Capital expenditures
590 yen
Annual Dividend
Annual
¥81 per share
Interim
¥42 per share
End of period
¥39 per share
Payout ratio
44.4 %
DOE3
| Item | Details |
|---|---|
| Document type | Results presentation |
| Fiscal Period Covered | Third quarter of the fiscal year ending December 2026 |
| Net Sales | 9,443 yen (YoY +10.0%) |
| Operating profit | 546 yen (YoY +18.0%) |
| Ordinary income | 505 yen (YoY +25.0%) |
| Net income | 354 yen (YoY +36.0%) |
| Operating profit margin | 5.8 % |
| Selling, general and administrative expenses | 2,320 yen |
| Results for the three months of the current quarter | Revenue 3,245 yen (YoY +12.0%) / Business profit 192 yen (YoY -5.0%) / Operating profit 164 yen (YoY -14.0%) / Quarterly profit 95 yen (YoY -18.0%) |
| Full-year earnings forecast | Revenue 12,700 yen / Business profit 870 yen / Operating profit 800 yen / Profit for the period 480 yen / ROIC 5.2 % / ROE 6.5 % / ROA 5.7 % / D/E Ratio 0.6 Times |
| Self-assessment against the plan | Mixed (domestic SYNCHRO WEATHER exceeded the plan, European off-take products achieved 62% of the plan, and total tire sales were in line with the plan) |
| Segment results | Tires Revenue 8,154 yen (YoY +10.0%) / Business profit 474 yen (YoY +16.0%) / Sports Revenue 1,007 yen (YoY +8.0%) / Business profit 90 yen (YoY +94.0%) / Industrial Products and Other Revenue 282 yen (YoY 0.0%) / Business profit 26 yen (YoY -11.0%) |
| Breakdown of Factors Affecting the Change | Operating profit, Jan–Sep 2026 vs. prior year Raw Materials 68 / Price -37 / Volume, mix and other factors 95 / Direct costs -32 / Fixed Costs -30 / Foreign Exchange 85 / Expenses -84 / Sports 44 / Industrial Products and Other -4 / Full-year operating profit forecast vs. prior year Raw Materials -50 / Price 7 / Volume, mix and other factors 103 / Direct costs -35 / Fixed Costs -48 / Foreign Exchange 115 / Expenses -156 / Sports 22 / Industrial Products and Other 4 |
| Key KPIs | Indicator name Annual tire unit sales / Value 9,836 10,000 units / Year on year against the same period last year 101 10,000 units, Indicator name Premium tire mix (2026 forecast) / Value 50 % / Year on year against the same period last year 3 %, Indicator name European unit sales (replacement tires) / Value 131 Year-on-year % / Year on year against the same period last year Not disclosed, Indicator name North American unit sales (replacement tires) / Value 105 Year-on-year % / Year on year against the same period last year Not disclosed, Indicator name German market share / Value 8 % / Year on year against the same period last year 2 % |
| Unit price and quantity metrics | Indicator name Domestic SYNCHRO WEATHER transaction volume per store / Value 5 Year-on-year, approximately 5x / Year on year against the same period last year Approximately 5x, Indicator name Tire unit sales / Value 9,836 10,000 units / Year on year against the same period last year 101 10,000 units, Indicator name Natural rubber price (TSR20, 2026 full-year average) / Value $1.97 /kg / Year on year against the same period last year $7.7 /kg |
| Assumptions Underlying the Business Outlook | Item Average USD exchange rate / Value 159 JPY/USD, Item Average EUR exchange rate / Value 183 JPY/EUR, Item Natural rubber (TSR20), 2026 full-year average / Value $1.97 /kg, Item Crude oil (DUBAI), 2026 full-year average / Value $81 /bbl |
| Financial targets | ROIC 5.2 % / ROE 6.5 % / ROA 5.7 % / D/E Ratio 0.6 Times / Equity ratio 48.1 % |
| Annual Dividend | Annual ¥81 per share / Interim ¥42 per share / End of period ¥39 per share |
| Payout ratio | 44.4 % |
| Capital expenditures | 590 yen |
| Market Size / Share | Item Japan all-season market CAGR (2025 to 2030) / Value 15 %, Item North American all-weather market CAGR (2025 to 2030) / Value 11 %, Item European all-weather market CAGR (2025 to 2030) / Value 3 %, Item German market share / Value 8 % |
| New initiatives | Launch of WINTER MAXX ICE Pro, SYNCHRO WEATHER rollout in Europe and North America in the second half of 2027, Creation of a cumulative ¥30 billion impact through Project ARK from 2028 to 2030, Introduction of the SUN-TITAN SYSTEM at the Thailand plant and expansion of large-diameter tire production capacity, Expansion of BLUE RESPONSE A/S's North American size lineup |
Items this document does not state (9)
Gross Profit MarginProgress against full-year forecastNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookMedium-term management plan targetsAcquisition of treasury sharesOrders 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.The full-year revenue forecast was lower than previously announced due to lower volumes, while the business profit forecast was lower due to the impact of higher raw material prices. The variance in the business profit forecast includes the effects of tire tariffs, raw materials, foreign exchange and expenses.
How to read this page
This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.