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Presentation materials for financial results7235TOKYO RADIATOR MFG.CO.,LTD.Automobiles and transportation equipment

Supplementary Financial Results Information for the Fiscal Year Ending March 2026

Revenue increased in FY2025, while cost reductions and an improved product mix also contributed to a substantial increase in operating profit. In FY2026, revenue is expected to remain broadly flat, with operating profit projected to increase on cost reductions, while net income is expected to decline due to a higher tax burden.

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Mixed performance
Direction inferred from the company’s description.
Scale
644
¥ million
Wording
Conditional
How definitive the wording is.

Contents of this document

Presentation materials for financial resultsFiscal year ending March 2026, full year10 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥35,382 million+4.0%
Operating profit¥2,358 million+38.0%
Ordinary income¥2,541 million+32.0%
Net income¥2,038 million+43.0%
Operating profit margin6.7 %
Results for the three months of the current quarter
Fourth quarter of the fiscal year ended March 2026
Net Sales
¥9,071 million
Operating profit
¥461 million
Full-year earnings forecast
Net Sales
¥35,500 million
Operating profit
¥2,450 million
Ordinary income
¥2,600 million
Net income
¥1,800 million
Dividend per share
¥77
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
  • Change in net sales¥921 million
  • Cost reductions and product mix¥27 million
  • Changes in fixed costs and other expenses¥-332 million
  • Domestic Subsidiary¥7 million
  • Chinese Subsidiaries¥41 million
  • Asian subsidiaries¥-57 million
  • Consolidated adjustments¥37 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
  • Average CNY exchange rate¥20.7
  • Average IDR exchange rate (per IDR 100)¥0.89
  • Average THB exchange rate¥4.5
  • Market sales volume
    DetailsForecasts for FY2026 by region and vehicle type
New initiatives
  • Advancement of priority initiatives under the medium-term management plan “TRS Vision-2030”
  • Cost-reduction initiatives
  • Sales expansion initiatives
  • Restructuring of the earnings model of the Chinese subsidiary
Key KPIsA metric the company considers important as a management benchmark.
  • Japanese passenger vehicle sales volume290 10,000 units
    Year-on-year (%)1.4
  • Japanese commercial vehicle sales volume34 10,000 units
    Year-on-year (%)6.3
  • Chinese passenger vehicle sales volume3,068 10,000 units
    Year-on-year (%)9.2
  • Chinese commercial vehicle sales volume372 10,000 units
    Year-on-year (%)11
  • Indonesian automobile sales volume80 10,000 units
    Year-on-year (%)-8
  • Thai automobile sales volume146 10,000 units
    Year-on-year (%)-0.7
Segment results
  • Japan
    Net Sales¥29,633 million
    Operating profit¥1,680 million
    Revenue year-on-year_pct9.5
    Operating profit year-on-year_pct58.8
  • China
    Net Sales¥5,960 million
    Operating profit¥459 million
    Revenue year-on-year_pct-15.3
    Operating profit year-on-year_pct9.8
  • Asia
    Net Sales¥2,925 million
    Operating profit¥182 million
    Revenue year-on-year_pct-10.2
    Operating profit year-on-year_pct-23.8
Medium-term management plan targets
As the first year of the medium-term management plan “TRS Vision-2030,” the company is advancing priority initiatives. Specific target figures and target year: not disclosed
Financial targets
The actual equity ratio was 72.0% (66.7% in the previous year), but financial targets are not disclosed
Market Size / Share
Market sales volumes are provided by region and vehicle type. Market share is not disclosed
Annual Dividend
FY2025
Annual¥65
Interim¥29
End of period¥36
FY2026 forecast
Annual¥77
Interim¥38
End of period¥39
Payout ratio
FY202530 %
FY2026 forecast40.6 %
PolicyFrom FY2026 onward, the dividend payout ratio will be raised from 30% to 40%
Contents of this document
ItemDetails
Document typePresentation materials for financial results
Fiscal Period CoveredFiscal year ending March 2026, full year
Net Sales¥35,382 million (YoY +4.0%)
Operating profit¥2,358 million (YoY +38.0%)
Ordinary income¥2,541 million (YoY +32.0%)
Net income¥2,038 million (YoY +43.0%)
Operating profit margin6.7 %
Results for the three months of the current quarterSubject Fourth quarter of the fiscal year ended March 2026 / Net Sales ¥9,071 million / Operating profit ¥461 million
Full-year earnings forecastNet Sales ¥35,500 million / Operating profit ¥2,450 million / Ordinary income ¥2,600 million / Net income ¥1,800 million / Dividend per share ¥77
Segment resultsSegment Japan / Net Sales ¥29,633 million / Operating profit ¥1,680 million / Revenue year-on-year_pct 9.5 / Operating profit year-on-year_pct 58.8, Segment China / Net Sales ¥5,960 million / Operating profit ¥459 million / Revenue year-on-year_pct -15.3 / Operating profit year-on-year_pct 9.8, Segment Asia / Net Sales ¥2,925 million / Operating profit ¥182 million / Revenue year-on-year_pct -10.2 / Operating profit year-on-year_pct -23.8
Breakdown of Factors Affecting the ChangeFactors Change in net sales / Amount ¥921 million, Factors Cost reductions and product mix / Amount ¥27 million, Factors Changes in fixed costs and other expenses / Amount ¥-332 million, Factors Domestic Subsidiary / Amount ¥7 million, Factors Chinese Subsidiaries / Amount ¥41 million, Factors Asian subsidiaries / Amount ¥-57 million, Factors Consolidated adjustments / Amount ¥37 million
Key KPIsIndicator name Japanese passenger vehicle sales volume / Value 290 10,000 units / Year-on-year (%) 1.4 10,000 units, Indicator name Japanese commercial vehicle sales volume / Value 34 10,000 units / Year-on-year (%) 6.3 10,000 units, Indicator name Chinese passenger vehicle sales volume / Value 3,068 10,000 units / Year-on-year (%) 9.2 10,000 units, Indicator name Chinese commercial vehicle sales volume / Value 372 10,000 units / Year-on-year (%) 11 10,000 units, Indicator name Indonesian automobile sales volume / Value 80 10,000 units / Year-on-year (%) -8 10,000 units, Indicator name Thai automobile sales volume / Value 146 10,000 units / Year-on-year (%) -0.7 10,000 units
Assumptions Underlying the Business OutlookItem Average CNY exchange rate / Value ¥20.7, Item Average IDR exchange rate (per IDR 100) / Value ¥0.89, Item Average THB exchange rate / Value ¥4.5, Item Market sales volume / Details Forecasts for FY2026 by region and vehicle type
Medium-term management plan targetsAs the first year of the medium-term management plan “TRS Vision-2030,” the company is advancing priority initiatives. Specific target figures and target year: not disclosed
Financial targetsThe actual equity ratio was 72.0% (66.7% in the previous year), but financial targets are not disclosed
Annual DividendFY2025 Annual ¥65 / Interim ¥29 / End of period ¥36 / FY2026 forecast Annual ¥77 / Interim ¥38 / End of period ¥39
Payout ratioFY2025 30 % / FY2026 forecast 40.6 % / Policy From FY2026 onward, the dividend payout ratio will be raised from 30% to 40%
Market Size / ShareMarket sales volumes are provided by region and vehicle type. Market share is not disclosed
New initiativesAdvancement of priority initiatives under the medium-term management plan “TRS Vision-2030”, Cost-reduction initiatives, Sales expansion initiatives, Restructuring of the earnings model of the Chinese subsidiary
Items this document does not state (12)
Gross Profit MarginSelling, general and administrative expensesProgress against full-year forecastSelf-assessment against the planUnit price and quantity metricsNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookAcquisition of treasury sharesCapital expendituresOrders 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 increase in operating profit in FY2025 was attributed to higher revenue, cost reductions, and an improved product mix. The increase in operating profit expected for FY2026 is attributed to cost-reduction initiatives, while the decline in net income is attributed to a higher tax burden.

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Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.
Supplementary Financial Results Information for the Fiscal Year Ending March 2026 | TOKYO RADIATOR MFG.CO.,LTD. (7235) timely disclosure | Komori