AI-analyzed earnings coverage of Japan’s largest listed companies — revenue, profit, segment performance, and the story behind the numbers, written for English-speaking investors and job seekers. New reports are added as Japanese companies publish results.
Otsuka: VOYXACT cuts kidney event risk by 97.1% in trial
Otsuka said VOYXACT cut the two-year risk of kidney decline or failure by 97.1% in a 510-patient phase 3 trial. It completed a staged U.S. filing for full approval after accelerated approval in November 2025, and kept its 2026 forecast unchanged.
Phase 3 Final Results
Disco Q2 FY2027: AI demand lifts operating profit 47.9%
Disco’s FY2027 first-half revenue rose 32.1% year on year, while operating profit climbed 47.9% and net income increased 43.7%. Strong demand for advanced chips drove shipments of higher-value equipment and improved margins.
FY2027 first half (Apr-Sep 2026)
Olympus: FDA alert restricts U.S. imports, forecast unchanged
Olympus said the FDA issued an import alert for some products made at three group facilities in Japan, restricting U.S. imports until further notice. It sees no additional impact on fiscal 2027 results and kept its forecast unchanged.
FDA Import Alert
Koito: China unit liquidation aims to lift profitability
Koito will liquidate its Hubei subsidiary after a Sept. 28, 2026, board decision, citing EV growth and weaker Japanese automaker sales. The move aims to improve China operations, with little impact expected on FY2027 earnings.
Subsidiary Dissolution and Liquidation
Tsugami: Lifts first-half profit forecast 29.2%, dividend to ¥61
Tsugami raised its first-half fiscal 2027 forecast, lifting operating profit 29.2% to ¥25.2 billion and profit attributable to owners 36.7% to ¥12.3 billion. It increased the interim dividend to ¥61 from ¥49 a share, with full-year guidance due Nov. 12.
Earnings and Dividend Forecast Revision
Mitsubishi Electric: ABB to take 51% of power controls unit
Mitsubishi Electric will move its distribution controls business into a new company and sell 51% to ABB’s Japan unit for a planned ¥82.4 billion. The venture is due to launch Oct. 1, 2027, with Mitsubishi Electric retaining 49%.
Joint Venture Formation and Company Split
Relo Group: Buys 90% of ATIV Medical for an Estimated ¥1.68bn
Relo Group will acquire a 90.0% voting stake in Singapore-based ATIV Medical for an estimated ¥1.68 billion, including fees. The deal is scheduled to close Oct. 30, 2026, linking expatriate support with Southeast Asian healthcare.
Share Acquisition and Subsidiary Acquisition
Mitsubishi Electric: Foxconn to take 50% stake in auto unit
Mitsubishi Electric will jointly run its auto unit with Foxconn, which will invest ¥115 billion for half of the business in October 2027. It expects about ¥100 billion in impairment losses for the year ending March 2027, with its earnings outlook due Oct. 30.
Strategic Partnership
Kajima: Withdraws Supreme Court appeal in Chuo Shinkansen case
Kajima withdrew its Supreme Court appeal and review petition challenging a Fair Trade Commission order over JR Central's Chuo Shinkansen project. Related cases end, measures are complete and its full-year forecast is unchanged.
Withdrawal of Supreme Court Appeal
Koei Tecmo: Midyear profit forecast lifted on game sales
Koei Tecmo on Oct. 19 raised its forecast for the six months through September 2026, lifting ordinary profit to ¥25bn, up 108.3%. Sales and other profit forecasts also increased, but the full-year outlook was unchanged.
Earnings Forecast Revision
Tokyo Steel: Raises Full-Year Operating Profit to ¥1 Billion
Tokyo Steel raised its full-year non-consolidated earnings forecast for the fiscal year ending March 2027 on October 16, 2026. The company now projects net sales of ¥326.0 billion and an operating profit of ¥1.0 billion, swinging from a previously forecasted ¥4.0 billion loss. Successful product price hikes and lower scrap steel costs drove the recovery, though earnings remain an upward revision with a year-on-year profit decline.
Earnings Forecast Revision
Mitsubishi Estate: Logistics SPC made unit via ¥15b deal
Mitsubishi Estate will convert MEC Kikan Logistics 2 SPC into a wholly owned subsidiary via a ¥15 billion investment on Oct. 29, 2026. The move aims to boost its logistics base, with minor earnings impact for FY3/2027.
Subsidiary Acquisition
