Worth reading
34Immaterial
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
33
Hundreds of millions of yenWording
Conditional
How definitive the wording is.Contents of this document
Financial results presentationFiscal year ending March 20266 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales4,653 Hundreds of millions of yen+0.7%
Operating profit293 Hundreds of millions of yen+41.5%
Ordinary income353 Hundreds of millions of yen+56.9%
Net income237 Hundreds of millions of yen+77.7%
Operating profit margin
Rate6.3%
Year-on-year change (points)Up 1.8 percentage points from 4.5% in the same period of the previous fiscal year
Full-year earnings forecast
Revenue
4,900 Hundreds of millions of yen
Business profit
380 Hundreds of millions of yen
Operating profit
380 Hundreds of millions of yen
Income before taxes
390 Hundreds of millions of yen
Profit for the period attributable to owners of the parent
280 Hundreds of millions of yen
What the company explained in this material
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
- Assumed exchange rate against the US dollar¥155 /US dollar
- Assumed exchange rate against the euro180 JPY/EUR
New initiatives
- The segment name in reporting materials will change from “Electronic Devices Business” to “Mobility Audio Equipment Business”
- Part of the “Other Businesses” segment will be reclassified into the “Audio Equipment Business” segment
Key KPIsA metric the company considers important as a management benchmark.
- ROE5.1 %Year on year against the same period last year+2.3%
- ROIC4.5 %Year on year against the same period last year+0.1%
- ROA3.9 %Year on year against the same period last year+1.8%
- Earnings per Share¥52.7Year on year against the same period last year+90.9%
Segment results
- Musical Instruments BusinessRevenue3,049 Hundreds of millions of yen (YoY +3.0%)Business profit212 Hundreds of millions of yen (YoY -3.9%)
- Audio Equipment BusinessRevenue1,424 Hundreds of millions of yen (YoY -3.6%)Business profit108 Hundreds of millions of yen (YoY -25.0%)
- Other BusinessesRevenue180 Hundreds of millions of yen (YoY -1.4%)Business profit-1 Hundreds of millions of yen
Number of employees
Domestic5,574 people
Overseas expansion12,312 people
Total Permanent Employees17,886 people
Capital expenditures
144 Hundreds of millions of yen
| Item | Details |
|---|---|
| Document type | Financial results presentation |
| Fiscal Period Covered | Fiscal year ending March 2026 |
| Net Sales | 4,653 Hundreds of millions of yen (YoY +0.7%) |
| Operating profit | 293 Hundreds of millions of yen (YoY +41.5%) |
| Ordinary income | 353 Hundreds of millions of yen (YoY +56.9%) |
| Net income | 237 Hundreds of millions of yen (YoY +77.7%) |
| Operating profit margin | Rate 6.3% / Year-on-year change (points) Up 1.8 percentage points from 4.5% in the same period of the previous fiscal year |
| Full-year earnings forecast | Revenue 4,900 Hundreds of millions of yen / Business profit 380 Hundreds of millions of yen / Operating profit 380 Hundreds of millions of yen / Income before taxes 390 Hundreds of millions of yen / Profit for the period attributable to owners of the parent 280 Hundreds of millions of yen |
| Segment results | Segment Musical Instruments Business / Revenue 3,049 Hundreds of millions of yen (YoY +3.0%) / Business profit 212 Hundreds of millions of yen (YoY -3.9%), Segment Audio Equipment Business / Revenue 1,424 Hundreds of millions of yen (YoY -3.6%) / Business profit 108 Hundreds of millions of yen (YoY -25.0%), Segment Other Businesses / Revenue 180 Hundreds of millions of yen (YoY -1.4%) / Business profit -1 Hundreds of millions of yen |
| Key KPIs | Indicator name ROE / Value 5.1 % / Year on year against the same period last year 2.3 %, Indicator name ROIC / Value 4.5 % / Year on year against the same period last year 0.1 %, Indicator name ROA / Value 3.9 % / Year on year against the same period last year 1.8 %, Indicator name Earnings per Share / Value ¥52.7 / Year on year against the same period last year ¥90.9 |
| Number of employees | Domestic 5,574 people / Overseas expansion 12,312 people / Total Permanent Employees 17,886 people / Change during the period Not disclosed |
| Assumptions Underlying the Business Outlook | Item Assumed exchange rate against the US dollar / Value ¥155 /US dollar, Item Assumed exchange rate against the euro / Value 180 JPY/EUR |
| Capital expenditures | 144 Hundreds of millions of yen |
| New initiatives | The segment name in reporting materials will change from “Electronic Devices Business” to “Mobility Audio Equipment Business”, Part of the “Other Businesses” segment will be reclassified into the “Audio Equipment Business” segment |
Items this document does not state (17)
Gross Profit MarginSelling, general and administrative expensesResults for the three months of the current quarterProgress against full-year forecastSelf-assessment against the planBreakdown of Factors Affecting the ChangeUnit price and quantity metricsNumber of stores and locationsRisk amount incorporated into the outlookMedium-term management plan targetsFinancial targetsAnnual DividendPayout ratioAcquisition of treasury sharesOrders 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.Revenue increased as higher guitar sales, particularly in North America, and higher electronic musical instrument sales in all regions more than offset lower piano sales in China and the decline in revenue following the end of the period of strong demand for professional audio equipment. Business profit declined due to additional US tariffs, higher procurement costs and changes in the product mix. Profit for the year increased as a result of the reversal of the previous fiscal year's ¥14.3 billion in restructuring costs, which included impairment losses on piano production facilities.
How to read this page
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