Worth reading
60In focus
Scored from 5 of 6 sectionsDirection
Mixed performance
Direction inferred from the company’s description.Scale
1947.214
¥ millionWording
Conditional
How definitive the wording is.Results for this period
Full year1 April 2025–31 March 2026ConsolidatedJapanese GAAPNet Sales105,280¥ millionYear on year +1.5%Progress 91.3%
Operating profit3,320¥ millionYear on year +70.9%Progress 92.2%
Ordinary income2,948¥ millionYear on year +66.8%Progress 131.0%
Net income attributable to owners of the parent-1,035¥ million
The width of the band at each stage is based on revenue. The narrower it becomes toward the bottom, the smaller the proportion of revenue that remains as profit. The dotted outline is the full-year forecast and the band inside it is the result for this period. The progress rate is the result divided by the forecast.
Net income per share¥(194.60)
Operating MarginCurrent fiscal year 3.2 % / Previous period 1.9 %
Financial position at period-end
Total assets96,153¥ million
of which net assets 34,283 ¥ millionEquity ratio 23.7%vs. prior year-end -2.4pt
塗りつぶした部分が自己資本比率です。総資産のうち、返済のいらない自前の資金がどれだけかを表します。The thin vertical line indicates the level at the end of the previous fiscal year.
Cash inflows and outflows
Operating+1,405
Investment-3,591
Financials+3,139
Net change+953
Stacked from zero: upward is an increase in cash, downward a decrease (in ¥ million).The net change represented by the dotted line is the total of three items, calculated from figures provided by the company.
Cash and cash equivalents at end of period¥6,815 million
Segment revenue
Japan17,611.3116.7%+10.1%
United States5,635.685.4%-24.3%
South Korea67,530.3364.2%+0.1%
China7,745.87.4%+5.4%
Thailand1,289.431.2%+8.3%
Europe4,479.454.3%+18.9%
Australia538.300.5%-7.0%
India375.510.4%
Segment profit
Japan508.11
United States-854.44
South Korea2,883.00+45.5%
China939.76+43.4%
Thailand162.11+202.4%
Europe73.06
Australia-13.66
India-141.27
Regional salesCurrent fiscal year Japan ¥9,565,302 thousand / United States ¥10,661,482 thousand / South Korea ¥54,331,419 thousand / China ¥7,784,793 thousand / Europe ¥13,537,384 thousand / Other ¥9,400,187 thousand / Previous period Japan ¥8,656,656 thousand / United States ¥12,439,197 thousand / South Korea ¥53,703,927 thousand / China ¥7,151,781 thousand / Europe ¥12,802,305 thousand / Other ¥8,958,274 thousand
Outlook and shareholder returns
Full-year earnings forecast
Net Sales¥115,300 million (YoY +9.5%)
Operating profit¥3,600 million (YoY +8.4%)
Ordinary income¥2,250 million (YoY -23.7%)
Net income¥1,000 million
Annual Dividend Forecast¥40 per share → ¥47 per share（+17.5%）
Payout ratioFiscal year ending March 2026 Not disclosed / Forecast for the fiscal year ending March 2027 25 %
Shareholder Return PolicyA minimum annual dividend of ¥40 per share, with a target consolidated dividend payout ratio of 25%
Factors Behind Changes in Business Performance
A review of sales channels in the U.S. market, as well as lower sales of constant-velocity joints for the new-vehicle parts market and tensioners, idlers and bearings for the overseas aftermarket, affected net sales. Retirement benefit expenses in South Korea decreased by ¥529 million, but personnel expenses, export costs and warehouse consolidation costs at U.S. facilities increased, and a subsidiary recorded impairment losses of ¥1,947 million.
Disclosure regarding the going concern assumption
None. The notes state that there are no applicable matters.
Change in accounting policy
基準改正に伴う変更 Noそれ以外の変更 No見積りの変更 No修正再表示 No
Changes in the scope of consolidationNew 1 / Name of newly added company GMB USA ALABAMA INC. / Excluded 0 / Excluded Company Name Not disclosed
Impairment loss¥1,947.21 million
Breakdown of extraordinary income (loss)Extraordinary income Gain on sale of non-current assets ¥45,054 thousand / Gain on sale of investment securities ¥13,029 thousand / Extraordinary loss Loss on sale of fixed assets ¥38,460 thousand / Loss on Disposal of Fixed Assets ¥24,980 thousand / Impairment loss ¥1,947,214 thousand
Depreciation and amortization¥4,244 million
Availability of Supplementary Financial Results MaterialsYes
Availability of Financial Results BriefingWhether applicable No / Subject person Not disclosed
Issued Shares at Period-End5,328,444
Treasury Shares at Period-End1,541
| Item | Details |
|---|---|
| Fiscal Period Classification | Full year |
| Accounting standards | Japanese GAAP |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 April 2025–31 March 2026 |
| Net Sales | ¥105,280 million (YoY +1.5%) |
| Operating profit | ¥3,320 million (YoY +70.9%) |
| Ordinary income | ¥2,948 million (YoY +66.8%) |
| Profit attributable to owners of the parent | ¥-1,035 million |
| Net income per share | ¥(194.60) |
| Operating Margin | Current fiscal year 3.2 % / Previous period 1.9 % |
| Equity ratio | End of the current fiscal period 23.7 / End of previous period 26.1 |
| Total assets | ¥96,153 million |
| Net assets | ¥34,283 million |
| Cash flows from operating activities | ¥1,405 million |
| Cash flows from investing activities | ¥-3,591 million |
| Cash flows from financing activities | ¥3,139 million |
| Cash and cash equivalents at end of period | ¥6,815 million |
| Full-year earnings forecast | Net Sales ¥115,300 million (YoY +9.5%) / Operating profit ¥3,600 million (YoY +8.4%) / Ordinary income ¥2,250 million (YoY -23.7%) / Net income ¥1,000 million |
| Annual Dividend Forecast | ¥40 per share → ¥47 per share（+17.5%） |
| Payout ratio | Fiscal year ending March 2026 Not disclosed / Forecast for the fiscal year ending March 2027 25 % |
| Shareholder Return Policy | A minimum annual dividend of ¥40 per share, with a target consolidated dividend payout ratio of 25% |
| Segment revenue | Japan ¥17,611.31 million (YoY +10.1%) / United States ¥5,635.68 million (YoY -24.3%) / South Korea ¥67,530.33 million (YoY +0.1%) / China ¥7,745.8 million (YoY +5.4%) / Thailand ¥1,289.43 million (YoY +8.3%) / Europe ¥4,479.45 million (YoY +18.9%) / Australia ¥538.30 million (YoY -7.0%) / India ¥375.51 million |
| Segment profit | Japan ¥508.11 million / United States ¥-854.44 million / South Korea ¥2,883.00 million (YoY +45.5%) / China ¥939.76 million (YoY +43.4%) / Thailand ¥162.11 million (YoY +202.4%) / Europe ¥73.06 million / Australia ¥-13.66 million / India ¥-141.27 million |
| Regional sales | Current fiscal year Japan ¥9,565,302 thousand / United States ¥10,661,482 thousand / South Korea ¥54,331,419 thousand / China ¥7,784,793 thousand / Europe ¥13,537,384 thousand / Other ¥9,400,187 thousand / Previous period Japan ¥8,656,656 thousand / United States ¥12,439,197 thousand / South Korea ¥53,703,927 thousand / China ¥7,151,781 thousand / Europe ¥12,802,305 thousand / Other ¥8,958,274 thousand |
| Depreciation and amortization | ¥4,244 million |
| Impairment loss | ¥1,947.21 million |
| Breakdown of extraordinary income (loss) | Extraordinary income Gain on sale of non-current assets ¥45,054 thousand / Gain on sale of investment securities ¥13,029 thousand / Extraordinary loss Loss on sale of fixed assets ¥38,460 thousand / Loss on Disposal of Fixed Assets ¥24,980 thousand / Impairment loss ¥1,947,214 thousand |
| Disclosure regarding the going concern assumption | None. The notes state that there are no applicable matters. |
| Change in accounting policy | Changes due to revisions to standards No / Other changes No / Change in accounting estimate No / Restatement No |
| Changes in the scope of consolidation | New 1 / Name of newly added company GMB USA ALABAMA INC. / Excluded 0 / Excluded Company Name Not disclosed |
| Availability of Supplementary Financial Results Materials | Yes |
| Availability of Financial Results Briefing | Whether applicable No / Subject person Not disclosed |
| Issued Shares at Period-End | 5,328,444 |
| Treasury Shares at Period-End | 1,541 |
| Factors Behind Changes in Business Performance | A review of sales channels in the U.S. market, as well as lower sales of constant-velocity joints for the new-vehicle parts market and tensioners, idlers and bearings for the overseas aftermarket, affected net sales. Retirement benefit expenses in South Korea decreased by ¥529 million, but personnel expenses, export costs and warehouse consolidation costs at U.S. facilities increased, and a subsidiary recorded impairment losses of ¥1,947 million. |
Items this document does not state (3)
Revision to Earnings ForecastOrders received and order backlogMaterial subsequent events
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.A review of sales channels in the U.S. market, as well as lower sales of constant-velocity joints, tensioners, idlers and bearings, affected net sales. In South Korea, retirement benefit expenses decreased by ¥529 million, while personnel expenses, export costs and warehouse consolidation costs at U.S. facilities increased. A subsidiary recorded impairment losses on fixed assets of ¥1,947 million.
How to read this page
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