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
330
¥ million (year-on-year increase in forecast operating income for the fiscal year ending March 2027)Wording
Conditional
How definitive the wording is.Contents of this document
Financial results presentationFiscal year ending March 202613 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥134,910 million-2.0%
Operating profit¥7,670 million+12.9%
Ordinary income¥8,002 million+3.6%
Net income¥4,951 million+26.9%
Operating profit margin5.7 %
Results for the three months of the current quarter
Fourth quarter of the fiscal year ended March 2026
Net Sales
¥34,907 million
Operating profit
¥2,144 million
Ordinary income
¥2,515 million
Quarterly net income
¥1,673 million
Full-year earnings forecast
Fiscal year ending March 2027
Net Sales
¥140,000 million
Operating profit
¥8,000 million
Ordinary income
¥7,500 million
Net income for the current fiscal year
¥5,000 million
Earnings per share
¥222.54
Dividend per share
¥115
Progress against full-year forecast 通期の予想に対して、いまどこまで進んだかの割合です。
Revised forecast for the fiscal year ending March 2026
Net Sales99.9 %
Operating profit109.6 %
Ordinary income114.3 %
Net income for the current fiscal year110 %
Earnings per share109.9 %
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
A strong start toward achieving the targets, with profit exceeding the plan in the first year of the medium-term business planBreakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Net Sales
Slower sales to certain Chinese manufacturers-5,000
Foreign Exchange Effects-2,700
Decline in consumer-related sales-1,800
Branded premium2,600
New EV customers2,400
Other automotive speakers1,600
New AVAS and mobility-related products, etc.500
Other-297
Operating profit
Slower sales to certain Chinese manufacturers-150
Personnel expenses, etc.-700
Depreciation and amortization-200
Higher sales and product mix1,874
Cost Structural Reform600
U.S. tariffs-550
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
U.S. dollar exchange rate
Actual results for the fiscal year ending March 2026¥151.1 /$
Forecast for the fiscal year ending March 2027¥150 /$
Euro exchange rate
Actual results for the fiscal year ending March 2026175.56 yen/€
Forecast for the fiscal year ending March 2027175 yen/€
New initiatives
- Expand the business among new customer groups for local EV manufacturers in North America and China
- Sales strategy focused on branded premium products
- Construction of a new plant in India
- Expand local production in the Americas and Europe
- Build next-generation systems and leverage generative AI
- Transition to a company with an Audit and Supervisory Committee
Key KPIsA metric the company considers important as a management benchmark.
ROE
7.7 %+1.1%
PER
13.1 times
PBR
1 times
Equity ratio
60.3 %
yoy_change_points3.3
Automotive speaker shipment volumeSlight increase year on year
New customers1 U.S. company and 5 Chinese companies
Segment results
SP (Speaker) Business
Net Sales
¥111,869 million-2.3%
Operating profit
¥6,522 million+2.5%
MA (Mobile Audio) Business
Net Sales
¥12,469 million-3.3%
Operating profit
¥672 million+4.9%
Other Businesses
Net Sales
¥10,572 million+3.7%
Operating profit
¥475 million
Medium-term management plan targets
Fiscal year ending March 2028
Net Sales¥150,000 million
Operating profit¥9,000 million
Operating profit margin¥6 million
ROE¥8 million
Financial targets
ROE
Target8% at an early stage, followed by a 10% target
Actual results7.7 %
Equity ratio
Actual results60.3 %
Market Size / Share
Expected to achieve a growth rate more than twice that of the new-vehicle marketNumber of employees
Consolidated16,260 People
Standalone454 People
Capital expenditures
¥6,804 million
Annual Dividend
Fiscal year ending March 2027
Annual¥115 per share
Interim¥55 per share
End of period¥60 per share
Fiscal year ending March 2026
Annual¥80 per share
Interim¥35 per share
End of period¥45 per share
Payout ratio
Fiscal year ending March 202751.7 %
TargetThe higher of a 50% payout ratio or 4% DOE
| Item | Details |
|---|---|
| Document type | Financial results presentation |
| Fiscal Period Covered | Fiscal year ending March 2026 |
| Net Sales | ¥134,910 million (YoY -2.0%) |
| Operating profit | ¥7,670 million (YoY +12.9%) |
| Ordinary income | ¥8,002 million (YoY +3.6%) |
| Net income | ¥4,951 million (YoY +26.9%) |
| Operating profit margin | 5.7 % |
| Results for the three months of the current quarter | Subject Fourth quarter of the fiscal year ended March 2026 / Net Sales ¥34,907 million / Operating profit ¥2,144 million / Ordinary income ¥2,515 million / Quarterly net income ¥1,673 million |
| Full-year earnings forecast | Subject Fiscal year ending March 2027 / Net Sales ¥140,000 million / Operating profit ¥8,000 million / Ordinary income ¥7,500 million / Net income for the current fiscal year ¥5,000 million / Earnings per share ¥222.54 / Dividend per share ¥115 |
| Progress against full-year forecast | Revised forecast for the fiscal year ending March 2026 Net Sales 99.9 % / Operating profit 109.6 % / Ordinary income 114.3 % / Net income for the current fiscal year 110 % / Earnings per share 109.9 % / Dividend per share Not disclosed |
| Self-assessment against the plan | A strong start toward achieving the targets, with profit exceeding the plan in the first year of the medium-term business plan |
| Segment results | SP (Speaker) Business Net Sales ¥111,869 million (YoY -2.3%) / Operating profit ¥6,522 million (YoY +2.5%) / MA (Mobile Audio) Business Net Sales ¥12,469 million (YoY -3.3%) / Operating profit ¥672 million (YoY +4.9%) / Other Businesses Net Sales ¥10,572 million (YoY +3.7%) / Operating profit ¥475 million |
| Breakdown of Factors Affecting the Change | Net Sales Slower sales to certain Chinese manufacturers -5,000 / Foreign Exchange Effects -2,700 / Decline in consumer-related sales -1,800 / Branded premium 2,600 / New EV customers 2,400 / Other automotive speakers 1,600 / New AVAS and mobility-related products, etc. 500 / Other -297 / Operating profit Slower sales to certain Chinese manufacturers -150 / Personnel expenses, etc. -700 / Depreciation and amortization -200 / Higher sales and product mix 1,874 / Cost Structural Reform 600 / U.S. tariffs -550 |
| Key KPIs | ROE 7.7 % (YoY +1.1%) / PER 13.1 times / PBR 1 times / Equity ratio 60.3 % / Automotive speaker shipment volume Slight increase year on year / New customers 1 U.S. company and 5 Chinese companies |
| Number of employees | Consolidated 16,260 People / Standalone 454 People |
| Assumptions Underlying the Business Outlook | U.S. dollar exchange rate Actual results for the fiscal year ending March 2026 ¥151.1 /$ / Forecast for the fiscal year ending March 2027 ¥150 /$ / Euro exchange rate Actual results for the fiscal year ending March 2026 175.56 yen/€ / Forecast for the fiscal year ending March 2027 175 yen/€ |
| Medium-term management plan targets | Fiscal year ending March 2028 Net Sales ¥150,000 million / Operating profit ¥9,000 million / Operating profit margin ¥6 million / ROE ¥8 million |
| Financial targets | ROE Target 8% at an early stage, followed by a 10% target / Actual results 7.7 % / Equity ratio Actual results 60.3 % |
| Annual Dividend | Fiscal year ending March 2027 Annual ¥115 per share / Interim ¥55 per share / End of period ¥60 per share / Fiscal year ending March 2026 Annual ¥80 per share / Interim ¥35 per share / End of period ¥45 per share |
| Payout ratio | Fiscal year ending March 2027 51.7 % / Target The higher of a 50% payout ratio or 4% DOE |
| Capital expenditures | ¥6,804 million |
| Market Size / Share | Expected to achieve a growth rate more than twice that of the new-vehicle market |
| New initiatives | Expand the business among new customer groups for local EV manufacturers in North America and China, Sales strategy focused on branded premium products, Construction of a new plant in India, Expand local production in the Americas and Europe, Build next-generation systems and leverage generative AI, Transition to a company with an Audit and Supervisory Committee |
Items this document does not state (8)
Gross Profit MarginSelling, general and administrative expensesUnit price and quantity metricsNumber of stores and locationsRisk amount incorporated into the outlookAcquisition 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.Sales declined due to slower sales to certain Chinese automakers and the impact of U.S. tariff policies. However, profit increased as the number of high-margin products grew under the branded premium strategy, supported by higher sales, product mix, cost structure reforms and other factors.
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.