Our Performance
For the fiscal year ended March 31, 2026, revenue increased by ¥3.3 billion (+0.7%) year on year to ¥465.3 billion.
While this reflected a decline in piano sales in China and the normalization of high demand for professional audio equipment, revenue was supported by increased guitar sales, particularly in North America, as well as higher sales of digital musical instruments across all regions. Core operating profit decreased by ¥4.8 billion (-13.2%) year on year to ¥31.9 billion, mainly due to the impact of additional U.S. tariffs, rising procurement costs, and changes in the product mix. Profit attributable to owners of parent increased by ¥10.4 billion (+77.7%) year on year to ¥23.7 billion. Although the Company recorded ¥2.0 billion in business restructuring expenses associated with the termination of the golf products business, this increase was primarily due to the absence of restructuring expenses of ¥14.3 billion recorded in the previous fiscal year, which included impairment losses related to piano production facilities.
Although uncertainty in the business environment is increasing, including geopolitical developments in the Middle East, the Company expects a return to a growth trajectory, resulting in higher revenue and profit. Accordingly, the fullyear earnings forecast for the fiscal year ending March 31, 2027 is set at ¥490.0 billion in revenue (+5.3% year on year), ¥38.0 billion in core operating profit (+19.2%), and ¥28.0 billion in profit attributable to owners of parent (+18.0%).
Of note, the foreign currency exchange rates used in computing these forecasts are ¥155 to US$1 and ¥180 to €1.