GS YuasaGS Yuasa Corporation6674東証プライム電気機器FY ending Mar 2026, consolidated, J-GAAP

GS Yuasa FY ending Mar 2026 results

About 38% of GS Yuasa's sales come from Automotive Batteries, with Overseas Operations and Industrial Batteries and Power Supplies making up much of the rest.

Out of every ¥100 of sales, about ¥10 is left as operating profit.

Revenue changed +4.9% from the prior year, operating profit +20.3%.

Revenue and profit pattern

Revenue and profit upProfit grew faster

Revenue +4.9% · profit +20.3%, calculated from disclosed figures.

Operating leverage: 4.11× (profit growth ÷ revenue growth)

What changed from last year

FY ending Mar 2025 → FY ending Mar 2026

Revenue: +4.9%¥580.3B → ¥609B
Gross profit: +11.2%¥139.5B → ¥155B
Operating income: +20.3%¥50B → ¥60.2B
Net income attributable to owners: +37.6%¥30.4B → ¥41.9B
Operating cash flow: +26.1%¥39.3B → ¥49.5B
Free cash flow: Loss-¥27B → -¥1.6B

Results at a glance

Revenue for the FY ending Mar 2026 was ¥609B, up 4.9% from ¥580.3B.
Operating income grew much faster, rising 20.3% from ¥50B to ¥60.2B.
Net income attributable to owners climbed 37.6%, from ¥30.4B to ¥41.9B.
Free cash flow was still negative at -¥1.6B, but the gap shrank sharply from -¥27B a year earlier.

What drove the change

Industrial batteries sold more lithium-ion units for energy storage systems (ESS) and won a large order for emergency power equipment
Overseas car battery volumes rose in Southeast Asia and Europe, and subsidies under the US Inflation Reduction Act lifted profit
In Japan, car battery sales grew on higher volumes and price corrections, and vehicle lithium-ion batteries sold more units for hybrids and plug-in hybrids
Net income also got a boost from larger gains on selling investment securities and smaller impairment losses

Things to watch

Lead is the main raw material, and swings in its price cannot be passed on to customers right away
Lithium-ion batteries for fully electric cars (BEVs) are still in development, and with BEV demand growing more slowly, mass production on schedule is not guaranteed
Sales of lead-acid car batteries depend heavily on the weather, such as cool summers or mild winters

Annual Securities Report, 22nd term (Apr 2025 - Mar 2026) / Management's analysis of financial position, operating results and cash flows · Annual Securities Report, 22nd term (Apr 2025 - Mar 2026) / Business risks

Where the money goes

FY ending Mar 2025 → FY ending Mar 2026

※ Segment revenues include inter-segment sales and are scaled to consolidated revenue

Where ¥100 of sales goes

For every ¥100 GS Yuasa sells, how much goes where, and how much is kept.

FY ending Mar 2026

Cost of sales: ¥74
SG&A: ¥16
Operating profit: ¥10
Net profit kept: ¥7

Annual margin trends

Gross margin25.5%

Operating margin9.9%

Net margin6.9%

Aligned fiscal years compare the shares of revenue remaining as gross, core, and net profit. Missing years are left unconnected.

Which businesses earn the money

Revenue by business segment, and the profit each one keeps.

FY ending Mar 2026

Automotive Batteries¥372.5B
38%
Op. margin 9.7%Industry: Batteries
Overseas Operations¥264.5B
27%
Op. margin 9.3%Industry: Batteries
Industrial Batteries and Power Supplies¥124.1B
13%
Op. margin 14.8%Industry: Batteries
Domestic Operations¥108B
11%
Op. margin 10.8%Industry: Batteries
Automotive Lithium-ion Batteries¥89.9B
9%
Op. margin 5.5%Industry: Batteries
Other¥22.5B
2%
Op. margin 6.7%

Profit by segment

※ Segment figures include inter-segment sales and do not sum to the company total

Sources

Show source documents (6)

EDINET (FSA Japan)
有価証券報告書－第22期(2025/04/01－2026/03/31)
ID S100YH712026-06-23Open
EDINET (FSA Japan)
有価証券報告書－第21期(2024/04/01－2025/03/31)
ID S100W35B2025-06-25Open
EDINET (FSA Japan)
有価証券報告書－第20期(2023/04/01－2024/03/31)
ID S100TVS12024-06-27Open
EDINET (FSA Japan)
有価証券報告書－第19期(2022/04/01－2023/03/31)
ID S100R9152023-06-29Open
EDINET (FSA Japan)
有価証券報告書－第18期(令和3年4月1日－令和4年3月31日)
ID S100OKYC2022-06-29Open
EDINET (FSA Japan)
有価証券報告書－第17期(令和2年4月1日－令和3年3月31日)
ID S100LTRR2021-06-29Open

Extracted from XBRL: 55 / Derived from other figures: 2

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