Makino: Lifts FY2027 operating profit forecast 31.5% to ¥36.3bn

Makino raised its consolidated forecast for the year ending March 2027. It now expects sales, operating profit, ordinary profit and net profit to exceed both its previous forecast and the prior-year results.

Compared with the previous forecast, the new figures represent increases of 10.9% for sales, 31.5% for operating profit, 30.6% for ordinary profit and 31.2% for net profit. Forecast earnings per share rose to ¥249.52 from ¥188.96. Makino expects all four key metrics to top the prior-year results, but said actual performance could differ from forecasts depending on factors including currency movements and demand.

In the six months from April to September 2026, sales and all profit figures came in above the previous forecast. Operating profit was 60.4% higher than forecast and net profit was 50.4% higher. Both also exceeded the results for the same period a year earlier.

Sales were 11.0% above forecast, while the profit increases were substantially larger. Interim earnings per share came to ¥117.21, compared with the previous forecast of ¥77.81. Makino raised its full-year profit outlook after incorporating the interim results.

Makino attributed the interim sales and profit outperformance to increased demand and a yen that was weaker than assumed at the start of the fiscal year. It also revised its full-year sales and profit forecasts in light of the interim performance.

The new full-year forecast assumes a weaker yen against the U.S. dollar, euro and Singapore dollar than the previous forecast. The disclosure does not quantify how much higher demand and currency movements each contributed to performance. The impact of changes in demand and exchange rates will be worth watching as actual results are compared with the forecast assumptions.