Daiwa Industries (6459): FY2025 Results Summary — Lower Sales and Profit; Net Income of ¥5,076 Million

This article is based on publicly available IR materials and is not a recommendation to buy or sell any specific securities.

Note: Daiwa Industries does not publish an English results presentation; this article is an English translation of the Japanese-language article on our sister site Investalk, which is based on the company’s Japanese-language IR materials, with figures transcribed as reported. The underlying source is the company’s non-consolidated financial results report (kessan tanshin) for the fiscal year ended December 31, 2025. The company’s fiscal year ends in December; “FY2025” in the title refers to the fiscal year ended December 31, 2025.

DAIWA INDUSTRIES LTD. (6459) does not prepare consolidated financial statements, and all figures below are on a non-consolidated (parent-only) basis. For the fiscal year ended December 31, 2025, net sales were 46,919 million yen (down 2.1% year on year), operating profit was 7,477 million yen (down 7.4%), ordinary profit was 7,444 million yen (down 6.5%), and net income was 5,076 million yen (down 6.7%), resulting in lower sales and profit.

Results (Non-Consolidated, Full-Year Actual)

Customer traffic in the restaurant industry, the company’s main customer sector, has not recovered to pre-pandemic levels, and this, together with intensified competition and soaring raw material prices, weighed on results, leaving net sales below the prior year. On the profit side as well, operating profit, ordinary profit, and net income all came in below the prior year. The equity ratio rose 2.4 percentage points from the end of the prior fiscal year to 75.4%.

Item	Current FY	Prior FY	Change
Net sales	46,919 million yen	47,938 million yen	△2.1%
Operating profit	7,477 million yen	8,076 million yen	△7.4%
Ordinary profit	7,444 million yen	7,959 million yen	△6.5%
Net income	5,076 million yen	5,441 million yen	△6.7%
Net income per share	¥102.83	¥110.24	–
Equity ratio	75.4%	73.0%	+2.4pt

Sales by Product Category (Non-Consolidated)

The company operates in a single segment covering refrigeration, freezing, and thermal equipment, and it therefore omits segment information in the notes (segment information, etc.) of its financial results report. However, sales by product category are disclosed as related information, and they are reproduced below.

Category	Metric	Current FY	Prior FY
Products	Net sales	26,201,433 thousand yen	26,955,908 thousand yen
Merchandise	Net sales	11,071,463 thousand yen	11,314,044 thousand yen
Inspection and repair	Net sales	9,476,394 thousand yen	9,504,025 thousand yen
Other	Net sales	170,446 thousand yen	164,600 thousand yen
Total	Net sales	46,919,738 thousand yen	47,938,578 thousand yen

Full-Year Forecast

For the fiscal year ending December 31, 2026, the company forecasts (non-consolidated) net sales of 49,400 million yen (up 5.3% year on year), operating profit of 8,400 million yen (up 12.3%), ordinary profit of 8,300 million yen (up 11.5%), and net income of 5,600 million yen (up 10.3%).

Item	Forecast	Prior FY (Actual)
Net sales	49,400 million yen (+5.3% YoY)	46,919 million yen
Operating profit	8,400 million yen (+12.3% YoY)	7,477 million yen
Ordinary profit	8,300 million yen (+11.5% YoY)	7,444 million yen
Net income	5,600 million yen (+10.3% YoY)	5,076 million yen
Net income per share	¥113.44	¥102.83

Shareholder Returns

For the fiscal year ended December 31, 2025, dividends consisted of an interim dividend of ¥25 and a year-end dividend of ¥25, for an annual dividend of ¥50 per share (the prior year consisted of an interim dividend of ¥15 and a year-end dividend of ¥35, for an annual dividend of ¥50), with a payout ratio of 48.6% and a dividend-on-net-assets ratio of 3.5%. For the fiscal year ending December 31, 2026, the company forecasts an interim dividend of ¥30 and a year-end dividend of ¥30, for an annual dividend of ¥60.

This article is an analysis based on publicly available information and is not a recommendation to buy or sell any specific securities. Investment decisions are your own responsibility.