Worth reading
61In focus
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
700
¥100 millionWording
Conditional
How definitive the wording is.Contents of this document
Financial results presentationFirst quarter of the fiscal year ending March 202711 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥2,533 100 million+23.0%
Operating profit¥546 100 million+250.1%
Ordinary income¥568 100 million +241.3%profit before tax
Net income¥499 100 million +325.8%profit for the year attributable to owners of the parent
Operating profit margin21.6 %
Results for the three months of the current quarterRevenue of ¥253.3 billion, business segment profit of ¥54.7 billion, operating profit of ¥54.6 billion, profit before tax of ¥56.8 billion, and profit for the period attributable to owners of the parent of ¥49.9 billion. All figures are standalone results for the first quarter of fiscal 2026 (April–June).
Full-year earnings forecast
Revenue
¥9,800 100 million
Business segment profit
¥900 100 million
Operating profit
¥900 100 million
Income before taxes
¥945 100 million
Profit for the year from continuing operations
¥692 100 million
Profit for the year from discontinued operations
¥83 100 million
Profit for the period attributable to owners of the parent
¥775 100 million
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
RevenueP&S +¥6.1 billion, IP +¥7.3 billion, Machinery +¥11.0 billion, ニッセイ +¥1.1 billion, P&H +¥1.1 billion, foreign exchange impact +¥23.5 billion, Other -¥1.2 billion
Business segment profitForeign exchange impact +¥8.8 billion, changes in revenue and other factors +¥13.7 billion, promotional expenses -¥2.6 billion, sales prices +¥7.3 billion, manufacturing costs -¥2.4 billion, SG&A and other expenses -¥2.7 billion, refund of additional U.S. tariffs +¥14.1 billion
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
The exchange-rate assumptions used in the forecasts are ¥155 per USD and ¥180 per EUR. The previous forecasts assumed ¥150 per USD and ¥180 per EUR.New initiatives
From fiscal 2026, MUTOH's results are included in the industrial printer business within the IP business for disclosure purposes. The N&C business has been classified as a discontinued operation since the third quarter of fiscal 2025.Key KPIsA metric the company considers important as a management benchmark.
Laser printer unit sales, year on year on a yen basis, +19%; laser consumables sales, on a yen basis, +29%; inkjet printer unit sales, on a yen basis, +4%; inkjet consumables sales, on a yen basis, +25%; consumables ratio, 58%; laser units sold, +5%; inkjet units sold, -4%; inventories, ¥244.2 billion; inventory turnover, 6.1 monthsUnit price and quantity metricsThese figures show sales broken down by price and volume.
The materials present growth rates for laser and inkjet unit sales and product sales by product category. Laser units sold increased 5% year on year, while inkjet units sold decreased 4%.Segment results
P&S
Revenue
¥1,597 100 million
Business segment profit
¥434 100 million
Year-on-year change in revenue
¥274 100 million
Year-on-year change in profit
¥282 100 million
IP
Revenue
¥417 100 million
Business segment profit
¥32 100 million
Year-on-year change in revenue
¥94 100 million
Year-on-year change in profit
¥23 100 million
Machinery
Revenue
¥274 100 million
Business segment profit
¥44 100 million
Year-on-year change in revenue
¥93 100 million
Year-on-year change in profit
¥31 100 million
Nissei
Revenue
¥63 100 million
Business segment profit
¥9 100 million
Year-on-year change in revenue
¥13 100 million
Year-on-year change in profit
¥7 100 million
P&H
Revenue
¥144 100 million
Business segment profit
¥27 100 million
Year-on-year change in revenue
¥11 100 million
Year-on-year change in profit
¥18 100 million
Other
Revenue
¥38 100 million
Business segment profit
¥1 100 million
Year-on-year change in revenue
¥-12 100 million
Year-on-year change in profit
¥1 100 million
Financial targets
ROE actual: 9.3%; equity ratio: 76.5%. Target values: Not disclosed.Risk amount incorporated into the outlookThe amount representing the range of variation the company expects in its forecast.
Impact of the situation in the Middle East and soaring component prices: approximately -¥29.0 billion; countermeasures and other factors: approximately +¥16.0 billion; impact of U.S. tariff policies: approximately +¥19.0 billion; total risk: approximately -¥7.0 billion.Market Size / Share
Order statistics from the Japan Machine Tool Builders' Association are presented as reference information. Market share: Not disclosed.Orders received and order backlog
The materials present trends in orders received for industrial equipment in the Machinery business, but specific figures are Not disclosed.Capital expenditures
¥530 100 million FY2026 forecast
| Item | Details |
|---|---|
| Document type | Financial results presentation |
| Fiscal Period Covered | First quarter of the fiscal year ending March 2027 |
| Net Sales | ¥2,533 100 million (YoY +23.0%) |
| Operating profit | ¥546 100 million (YoY +250.1%) |
| Ordinary income | ¥568 100 million (profit before tax) (YoY +241.3%) |
| Net income | ¥499 100 million (profit for the year attributable to owners of the parent) (YoY +325.8%) |
| Operating profit margin | 21.6 % |
| Results for the three months of the current quarter | Revenue of ¥253.3 billion, business segment profit of ¥54.7 billion, operating profit of ¥54.6 billion, profit before tax of ¥56.8 billion, and profit for the period attributable to owners of the parent of ¥49.9 billion. All figures are standalone results for the first quarter of fiscal 2026 (April–June). |
| Full-year earnings forecast | Revenue ¥9,800 100 million / Business segment profit ¥900 100 million / Operating profit ¥900 100 million / Income before taxes ¥945 100 million / Profit for the year from continuing operations ¥692 100 million / Profit for the year from discontinued operations ¥83 100 million / Profit for the period attributable to owners of the parent ¥775 100 million |
| Segment results | P&S Revenue ¥1,597 100 million / Business segment profit ¥434 100 million / Year-on-year change in revenue ¥274 100 million / Year-on-year change in profit ¥282 100 million / IP Revenue ¥417 100 million / Business segment profit ¥32 100 million / Year-on-year change in revenue ¥94 100 million / Year-on-year change in profit ¥23 100 million / Machinery Revenue ¥274 100 million / Business segment profit ¥44 100 million / Year-on-year change in revenue ¥93 100 million / Year-on-year change in profit ¥31 100 million / Nissei Revenue ¥63 100 million / Business segment profit ¥9 100 million / Year-on-year change in revenue ¥13 100 million / Year-on-year change in profit ¥7 100 million / P&H Revenue ¥144 100 million / Business segment profit ¥27 100 million / Year-on-year change in revenue ¥11 100 million / Year-on-year change in profit ¥18 100 million / Other Revenue ¥38 100 million / Business segment profit ¥1 100 million / Year-on-year change in revenue ¥-12 100 million / Year-on-year change in profit ¥1 100 million |
| Breakdown of Factors Affecting the Change | Revenue P&S +¥6.1 billion, IP +¥7.3 billion, Machinery +¥11.0 billion, ニッセイ +¥1.1 billion, P&H +¥1.1 billion, foreign exchange impact +¥23.5 billion, Other -¥1.2 billion / Business segment profit Foreign exchange impact +¥8.8 billion, changes in revenue and other factors +¥13.7 billion, promotional expenses -¥2.6 billion, sales prices +¥7.3 billion, manufacturing costs -¥2.4 billion, SG&A and other expenses -¥2.7 billion, refund of additional U.S. tariffs +¥14.1 billion |
| Key KPIs | Laser printer unit sales, year on year on a yen basis, +19%; laser consumables sales, on a yen basis, +29%; inkjet printer unit sales, on a yen basis, +4%; inkjet consumables sales, on a yen basis, +25%; consumables ratio, 58%; laser units sold, +5%; inkjet units sold, -4%; inventories, ¥244.2 billion; inventory turnover, 6.1 months |
| Unit price and quantity metrics | The materials present growth rates for laser and inkjet unit sales and product sales by product category. Laser units sold increased 5% year on year, while inkjet units sold decreased 4%. |
| Assumptions Underlying the Business Outlook | The exchange-rate assumptions used in the forecasts are ¥155 per USD and ¥180 per EUR. The previous forecasts assumed ¥150 per USD and ¥180 per EUR. |
| Risk amount incorporated into the outlook | Impact of the situation in the Middle East and soaring component prices: approximately -¥29.0 billion; countermeasures and other factors: approximately +¥16.0 billion; impact of U.S. tariff policies: approximately +¥19.0 billion; total risk: approximately -¥7.0 billion. |
| Financial targets | ROE actual: 9.3%; equity ratio: 76.5%. Target values: Not disclosed. |
| Capital expenditures | ¥530 100 million (FY2026 forecast) |
| Orders received and order backlog | The materials present trends in orders received for industrial equipment in the Machinery business, but specific figures are Not disclosed. |
| Market Size / Share | Order statistics from the Japan Machine Tool Builders' Association are presented as reference information. Market share: Not disclosed. |
| New initiatives | From fiscal 2026, MUTOH's results are included in the industrial printer business within the IP business for disclosure purposes. The N&C business has been classified as a discontinued operation since the third quarter of fiscal 2025. |
Items this document does not state (11)
Gross Profit MarginSelling, general and administrative expensesProgress against full-year forecastSelf-assessment against the planNumber of stores and locationsNumber of employeesMedium-term management plan targetsAnnual DividendPayout ratioAcquisition of treasury sharesKey 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.In addition to reflecting part of the first-quarter upside, strong performance in the P&S business and in industrial equipment in the Machinery business, the consolidation of MUTOH as a subsidiary, and favorable foreign exchange movements contributed to higher revenue. On the profit side, the refund of most of the additional U.S. tariffs, pricing measures and increased consumables sales in the P&S business, the effect of higher revenue in the Machinery business, and favorable foreign exchange movements contributed to earnings, while gains on the partial sale of shares in Xing were also added to profit for the period. The full-year forecasts were revised based on the latest assessment of risks including the situation in the Middle East and soaring component prices.
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.