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Makino Milling Machine, Ordinary Profit Forecast for the Fiscal Year Revised Upward by 16%, Exceeded Record Profit Forecast
6135 Makino Milling Machine Co.,Ltd. 【J-GAAP】
Earnings ReportMakino Milling Machine Co.,Ltd. <6135> [TSE Prime] announced its financial results after the market closed on January 30th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2026 (April to December) expanded 19.7 billion yen, an increase 36.5% compared to the same period last year.
In addition, the full-year forecast for consolidated ordinary profit has been revised upward 16.4%, from the previous forecast of 22.0 billion yen to 25.6 billion yen (compared to 20.0 billion yen in the previous period), increasing the growth rate from 9.5% to 27.4%. The company has further increased its previous forecast of record profits for the first time in seven years.
Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated ordinary profit for the October to March period (second half) is expected to increase 31.4%, from the previous forecast of 11.4 billion yen to 15.0 billion yen (compared to 12.5 billion yen in the same period of the previous year), turning to a 20.5% increase in the consolidated ordinary profit outlook.
In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit increased 34.0% from the same period last year, reaching 9.25 billion yen. The operating profit margin improved from 9.3% in the same period last year to 11.6%.
Kabutan News
Actual Results
| Fiscal Year | Revenue | Operating Profit | Ordinary Profit | Net Profit | Adj. EPS | Progress Rate vs. First Half | Announce | Accounting Standards |
|---|---|---|---|---|---|---|---|---|
| Apr - Dec, 2023 | 162,992 | 12,156 | 13,843 | 11,270 | 472.2 | 73.2 | Jan 31, 2024 | J-GAAP |
| Apr - Dec, 2024 | 168,794 | 13,232 | 14,487 | 10,532 | 447.3 | 72.1 | Jan 31, 2025 | J-GAAP |
| Apr - Dec, 2025 | 190,132 | 17,676 | 19,780 | 14,029 | 599.8 | 77.3 | Jan 30, 2026 | J-GAAP |
| YoY | +12.6% | +33.6% | +36.5% | +33.2% | +34.1% |
Guidance Update
Second Half Update
| Fiscal Year | Revenue | Operating Profit | Ordinary Profit | Net Profit | Adj. EPS | Adj. Dividend | Announce | Accounting Standards |
|---|---|---|---|---|---|---|---|---|
| Oct - Mar, 2025 Prev | 120,579 | 12,000 | 11,470 | 11,238 | 480.4 | 0 | Oct 31, 2025 | J-GAAP |
| Oct - Mar, 2025 New | 132,579 | 14,300 | 15,070 | 12,638 | 540.3 | 0 | Jan 30, 2026 | J-GAAP |
| Revision Rate | +10.0% | +19.2% | +31.4% | +12.5% | +12.5% |
Full Year Update
| Fiscal Year | Revenue | Operating Profit | Ordinary Profit | Net Profit | Adj. EPS | Adj. Dividend | Announce | Accounting Standards |
|---|---|---|---|---|---|---|---|---|
| Mar, 2026 Prev | 240,000 | 21,500 | 22,000 | 18,000 | 769.5 | 0 | Jun 3, 2025 | J-GAAP |
| Mar, 2026 New | 252,000 | 23,800 | 25,600 | 19,400 | 829.4 | 0 | Jan 30, 2026 | J-GAAP |
| Revision Rate | +5.0% | +10.7% | +16.4% | +7.8% | +7.8% |
Current Period Guidance
Second Half Results
| Fiscal Year | Revenue | Operating Profit | Ordinary Profit | Net Profit | Adj. EPS | Adj. Dividend | Announce | Accounting Standards |
|---|---|---|---|---|---|---|---|---|
| Oct - Mar, 2024 | 125,979 | 10,940 | 12,507 | 8,633 | 367.2 | 100 | Apr 30, 2025 | J-GAAP |
| Oct - Mar, 2025 Guidance | 132,579 | 14,300 | 15,070 | 12,638 | 540.3 | 0 | Jan 30, 2026 | J-GAAP |
| YoY | +5.2% | +30.7% | +20.5% | +46.4% | +47.1% |
Current Period Guidance
| Fiscal Year | Revenue | Operating Profit | Ordinary Profit | Net Profit | Adj. EPS | Adj. Dividend | Announce | Accounting Standards |
|---|---|---|---|---|---|---|---|---|
| Mar, 2024 | 225,360 | 16,372 | 18,918 | 15,981 | 670.6 | 150 | Apr 30, 2024 | J-GAAP |
| Mar, 2025 | 234,216 | 18,516 | 20,090 | 14,415 | 613.2 | 180 | Apr 30, 2025 | J-GAAP |
| Mar, 2026 Guidance | 252,000 | 23,800 | 25,600 | 19,400 | 829.4 | 0 | Jan 30, 2026 | J-GAAP |
| YoY | +7.6% | +28.5% | +27.4% | +34.6% | +35.3% |
Quarterly Results
| Fiscal Year | Revenue | Operating Profit | Ordinary Profit | Net Profit | Adj. EPS | Operating Profit Margin | Announce | Accounting Standards |
|---|---|---|---|---|---|---|---|---|
| Oct - Dec, 2024 | 60,557 | 5,656 | 6,904 | 4,750 | 201.7 | 9.3 | Jan 31, 2025 | J-GAAP |
| Jan - Mar, 2025 | 65,422 | 5,284 | 5,603 | 3,883 | 165.2 | 8.1 | Apr 30, 2025 | J-GAAP |
| Apr - Jun, 2025 | 55,397 | 3,201 | 3,684 | 1,247 | 53.4 | 5.8 | Jul 31, 2025 | J-GAAP |
| Jul - Sep, 2025 | 64,024 | 6,299 | 6,846 | 5,515 | 235.8 | 9.8 | Oct 31, 2025 | J-GAAP |
| Oct - Dec, 2025 | 70,711 | 8,176 | 9,250 | 7,267 | 310.7 | 11.6 | Jan 30, 2026 | J-GAAP |
| YoY | +16.8% | +44.6% | +34.0% | +53.0% | +54.0% |
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