Materials for the Financial Results Briefing for the Second Quarter (Interim Period) of the Fiscal Year Ending March 2027 | MAX CO.,LTD. (6454) timely disclosure

Worth reading

80Important

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

¥ hundred million

Wording

Conditional

How definitive the wording is.

Contents of this document

Earnings presentation materialsSecond quarter (interim period) of the fiscal year ending March 202714 items taken from the company’s own explanation

Financial Results Figures (The key points of this material are explained below)

Net Sales¥55,280 million+13.5%

Operating profit¥11,068 million+16.9%

Ordinary income¥11,172 million+14.5%

Net income¥8,472 million+16.2%

Operating profit margin20 %

Results for the three months of the current quarterStandalone second-quarter revenue was ¥26,946 million. Segment revenue was ¥20,773 million for Industrial Equipment, ¥5,435 million for Office Equipment and ¥737 million for HCR Equipment.

Full-year earnings forecast

Net Sales

¥110,000 million

Operating profit

¥20,200 million

Ordinary income

¥20,300 million

Profit attributable to owners of the parent

¥15,400 million

Earnings per share

87.34 Yen

What the company explained in this material

Self-assessment against the planThe company's self-assessment against its own plan.

Exceeded the first-half plan. Revenue achievement rate: 100.3%; operating profit achievement rate: 105.4%; ordinary profit achievement rate: 107.4%; interim net profit achievement rate: 105.9%.

Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.

Change in operating profit

Foreign exchange impact on sales3,073

Foreign exchange impact on costs-1,392

Volume variance (volume and mix variances, etc.)2,037

Higher selling prices603

Cost increase (including higher costs due to US tariffs and refunds)-220

Foreign exchange translation differences464

Increase in SG&A expenses-2,499

Increase in operating profit1,601

Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.

Assumed exchange rate from Q3 onward

US dollar155

Euro180

First-half actual exchange rates

US dollar160.48

Euro185.41

New initiatives

Establishment of a Technical Research Center (provisional name)
Investment amount¥70 hundred million
Scheduled completionFY2028
Building a research environment where machines and proprietary consumables can be prototyped and tested simultaneously
Share Repurchase
Number of shares acquired4,000,000 Shares
Acquisition price7,014,193,000 Yen
Upward revision to the full-year earnings and dividend forecasts

Key KPIsA metric the company considers important as a management benchmark.

Sales of tools for concrete structures¥265 hundred million
Year on year against the same period last year+27.0%
Overseas revenue ratio57.8 %
ROE (full-year plan)13.3 %
New housing starts (Japan, January–June 2026)0.5 %
Year on year against the same period last year+0.5%
US new housing starts (July 2026)136.9 10,000 units, annualized
Year on year against the same period last year-4.4%

Unit price and quantity metricsThese figures show sales broken down by price and volume.

North America: rebar tying machine sales volume
Machinery year-on-year12
Consumables year-on-year22
Europe: rebar tying machine sales volume
Machinery year-on-year0
Consumables year-on-year5
Japan: rebar tying machine sales volume
Machinery year-on-year7
Consumables year-on-year-2

Segment results

Industrial Equipment Division

Net Sales

¥42,563 million+16.4%

Segment profit

¥11,833 million+18.4%

Office Equipment Division

Net Sales

¥11,219 million+5.9%

Segment profit

¥1,834 million-0.6%

HCR Equipment Division

Net Sales

¥1,497 million-0.7%

Segment profit

¥-50 million

Medium-term management plan targets

Fiscal years ending March 2025 to March 2027

Investment for Business Expansion

120 Approximately ¥100 million

R&D Investment

140 Approximately ¥100 million

Investment to strengthen the operating base

120 Approximately ¥100 million

New net incremental product sales for FY2032

¥100 hundred million

Financial targets

ROE

Full-year forecast13.3 %

Capital expenditures

¥1,482 million

Annual Dividend

Annual dividend per share

43 Yen

Payout ratio

50 Approximately, as a guideline

Dividend-on-equity ratio

6 %

Acquisition of treasury shares

Number of shares acquired

4,000,000 Shares

Acquisition price

7,014,193,000 Yen

Period1 May 2026 to 28 October 2026

Gross profit

¥28,569 million+16.8%

Rate (%)51.7

Year-on-year change (points)1.4

Contents of this document
Item	Details
Document type	Earnings presentation materials
Fiscal Period Covered	Second quarter (interim period) of the fiscal year ending March 2027
Net Sales	¥55,280 million (YoY +13.5%)
Operating profit	¥11,068 million (YoY +16.9%)
Ordinary income	¥11,172 million (YoY +14.5%)
Net income	¥8,472 million (YoY +16.2%)
Gross profit	¥28,569 million (YoY +16.8%)
Operating profit margin	20 %
Results for the three months of the current quarter	Standalone second-quarter revenue was ¥26,946 million. Segment revenue was ¥20,773 million for Industrial Equipment, ¥5,435 million for Office Equipment and ¥737 million for HCR Equipment.
Full-year earnings forecast	Net Sales ¥110,000 million / Operating profit ¥20,200 million / Ordinary income ¥20,300 million / Profit attributable to owners of the parent ¥15,400 million / Earnings per share 87.34 Yen
Self-assessment against the plan	Exceeded the first-half plan. Revenue achievement rate: 100.3%; operating profit achievement rate: 105.4%; ordinary profit achievement rate: 107.4%; interim net profit achievement rate: 105.9%.
Segment results	Industrial Equipment Division Net Sales ¥42,563 million (YoY +16.4%) / Segment profit ¥11,833 million (YoY +18.4%) / Office Equipment Division Net Sales ¥11,219 million (YoY +5.9%) / Segment profit ¥1,834 million (YoY -0.6%) / HCR Equipment Division Net Sales ¥1,497 million (YoY -0.7%) / Segment profit ¥-50 million
Breakdown of Factors Affecting the Change	Change in operating profit Foreign exchange impact on sales 3,073 / Foreign exchange impact on costs -1,392 / Volume variance (volume and mix variances, etc.) 2,037 / Higher selling prices 603 / Cost increase (including higher costs due to US tariffs and refunds) -220 / Foreign exchange translation differences 464 / Increase in SG&A expenses -2,499 / Increase in operating profit 1,601
Key KPIs	Indicator name Sales of tools for concrete structures / Value ¥265 hundred million / Year on year against the same period last year ¥27 hundred million, Indicator name Overseas revenue ratio / Value 57.8 % / Year on year against the same period last year Not disclosed, Indicator name ROE (full-year plan) / Value 13.3 % / Year on year against the same period last year Not disclosed, Indicator name New housing starts (Japan, January–June 2026) / Value 0.5 % / Year on year against the same period last year 0.5 %, Indicator name US new housing starts (July 2026) / Value 136.9 10,000 units, annualized / Year on year against the same period last year -4.4 10,000 units, annualized
Unit price and quantity metrics	Indicator name North America: rebar tying machine sales volume / Machinery year-on-year 12 % / Consumables year-on-year 22 %, Indicator name Europe: rebar tying machine sales volume / Machinery year-on-year 0 % / Consumables year-on-year 5 %, Indicator name Japan: rebar tying machine sales volume / Machinery year-on-year 7 % / Consumables year-on-year -2 %
Assumptions Underlying the Business Outlook	Assumed exchange rate from Q3 onward US dollar 155 / Euro 180 / First-half actual exchange rates US dollar 160.48 / Euro 185.41
Medium-term management plan targets	Subject Fiscal years ending March 2025 to March 2027 / Investment for Business Expansion 120 Approximately ¥100 million / R&D Investment 140 Approximately ¥100 million / Investment to strengthen the operating base 120 Approximately ¥100 million / New net incremental product sales for FY2032 ¥100 hundred million
Financial targets	ROE Full-year forecast 13.3 %
Annual Dividend	Annual dividend per share 43 Yen / Interim Not disclosed / End of period Not disclosed
Payout ratio	50 Approximately, as a guideline
Acquisition of treasury shares	Number of shares acquired 4,000,000 Shares / Acquisition price 7,014,193,000 Yen / Period 1 May 2026 to 28 October 2026
Capital expenditures	¥1,482 million
New initiatives	Measures Establishment of a Technical Research Center (provisional name) / Investment amount ¥70 hundred million / Scheduled completion FY2028, Measures Building a research environment where machines and proprietary consumables can be prototyped and tested simultaneously, Measures Share Repurchase / Number of shares acquired 4,000,000 Shares / Acquisition price 7,014,193,000 Yen, Measures Upward revision to the full-year earnings and dividend forecasts

Items this document does not state (8)

Selling, general and administrative expensesProgress against full-year forecastNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookOrders received and order backlogMarket Size / ShareKey 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 company is expected to exceed the forecast announced in July 2026, driven by sales growth for tools for concrete structures in Europe and the US. In the first half, contributions came from the resilience of infrastructure markets in Europe and the US, demand for mechanization driven by labor shortages, the introduction, additional purchases and replacement of rebar tying machines, and consumables sales resulting from the increase in the cumulative number of machines in operation.

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.

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