Fiscal Year 2025 Full-Year Financial Results Presentation

Overview of Full-Year Results for Fiscal Year 2025

Net sales for fiscal year 2025 reached a record high of 594.9 billion yen, up 5.2% year-over-year. Operating income also hit a record 97.4 billion yen, an increase of 3.6% YoY. Meanwhile, net income declined 15.0% YoY due to impairment losses, but the annual dividend per share increased to 130 yen (previous year: 120 yen). By segment, the Tire business posted net sales of 547.7 billion yen, up 5.4%, and operating income of 95.5 billion yen, up 3.7%. By region, North America recorded net sales of 403.9 billion yen, up 8.3%, while operating income declined 17.8% to 17.9 billion yen.

Earnings Forecast and Dividend Outlook for Fiscal Year 2026

For the fiscal year 2026 full-year forecast, net sales are projected at 620.0 billion yen (up 4.2% YoY), operating income at 94.0 billion yen (down 3.4% YoY), and net income at 54.0 billion yen (down 15.1% YoY). The annual dividend per share forecast is 135 yen, an increase of 5 yen. Foreign exchange sensitivity is estimated at 800 million yen/year for the U.S. dollar and 100 million yen/year for the euro. The operating income margin is expected to be 15.2%, aiming to achieve the mid-term management plan target of consolidated operating margin above 14% and dividend payout ratio over 30%.