HoshizakiHOSHIZAKI CORPORATION6465東証プライム機械FY ending Dec 2025, consolidated, J-GAAP

Hoshizaki FY ending Dec 2025 results

About 47% of Hoshizaki's sales come from Japan, with American States and Asia making up much of the rest.

Out of every ¥100 of sales, about ¥11 is left as operating profit.

Revenue changed +9.1% from the prior year, operating profit +1.7%.

Revenue and profit pattern

Revenue and profit upRevenue grew faster

Revenue +9.1% · profit +1.7%, calculated from disclosed figures.

Operating leverage: 0.19× (profit growth ÷ revenue growth)

What changed from last year

FY ending Dec 2024 → FY ending Dec 2025

Revenue: +9.1%¥445.5B → ¥485.9B
Gross profit: +9.0%¥166.4B → ¥181.4B
Operating income: +1.7%¥51B → ¥51.9B
Net income attributable to owners: +3.3%¥36.9B → ¥38.1B
Operating cash flow: -35.5%¥47.3B → ¥30.5B
Free cash flow: -46.9%¥36.7B → ¥19.5B

Results at a glance

Revenue for FY ending Dec 2025 was ¥485.9B, up +9.1% from ¥445.5B.
Operating income rose only +1.7% to ¥51.9B, so profit did not keep pace with sales.
Net income attributable to owners grew +3.3% to ¥38.1B.
Operating cash flow dropped -35.5% to ¥30.5B, and free cash flow fell -46.9% to ¥19.5B.

What drove the change

In Asia, refrigerator sales were strong, led by India, lifting both sales and profit
In the Americas, a newly acquired company added sales, but one-off costs for the acquisition and an ERP rollout, plus higher labor costs, cut profit
In Europe, tougher competition and hyperinflation in Turkey, including its accounting effects, sharply reduced profit
Operating cash flow was held down by income tax payments and a contribution to a retirement benefit trust

Things to watch

US tariff policy and countermeasures by other countries could make parts harder to source and raise production costs
Price competition could intensify beyond what cost cuts can absorb
Acquired businesses could miss their plans, leading to goodwill impairments

Annual Securities Report, 80th fiscal year (Jan–Dec 2025) / 経営者による財政状態、経営成績及びキャッシュ・フローの状況の分析 · Annual Securities Report, 80th fiscal year (Jan–Dec 2025) / 事業等のリスク

Where the money goes

FY ending Dec 2024 → FY ending Dec 2025

Where ¥100 of sales goes

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

FY ending Dec 2025

Cost of sales: ¥63
SG&A: ¥26
Operating profit: ¥11
Net profit kept: ¥8

Annual margin trends

Gross margin37.3%

Operating margin10.7%

Net margin7.9%

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 Dec 2025

Japan¥226.7B
47%
Op. margin 13.4%Industry: Air Conditioning
American States¥121.2B
25%
Op. margin 9.1%Industry: Air Conditioning
Asia¥80.3B
17%
Op. margin 18.0%Industry: Air Conditioning
Europe¥57.6B
12%
Op. margin 2.5%Industry: Air Conditioning

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80期(2025/01/01－2025/12/31)
ID S100XSOT2026-03-25Open
EDINET (FSA Japan)
有価証券報告書－第79期(2024/01/01－2024/12/31)
ID S100VGXH2025-03-26Open
EDINET (FSA Japan)
有価証券報告書－第78期(2023/01/01－2023/12/31)
ID S100T4W32024-03-27Open
EDINET (FSA Japan)
有価証券報告書－第77期(2022/01/01－2022/12/31)
ID S100QHHF2023-03-29Open
EDINET (FSA Japan)
有価証券報告書－第76期(令和3年1月1日－令和3年12月31日)
ID S100NPPT2022-03-23Open
EDINET (FSA Japan)
有価証券報告書－第75期(令和2年1月1日－令和2年12月31日)
ID S100L0ZS2021-03-25Open

Extracted from XBRL: 53 / Derived from other figures: 1

Spotted an error? Report it (corrections keep the original record)

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