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Seiko GroupSEIKO GROUP CORPORATION8050東証プライム精密機器FY ending Mar 2026, consolidated, J-GAAP

Seiko Group FY ending Mar 2026 results

About 65% of Seiko Group's sales come from Emotional Value Solutions Business, with Devices Solutions Business and Systems Solutions Business making up much of the rest.

Out of every ¥100 of sales, about ¥9 is left as operating profit.

Revenue changed +10.2% from the prior year, operating profit +45.4%.

Revenue and profit pattern

Revenue and profit upProfit grew faster

Revenue +10.2% · profit +45.4%, calculated from disclosed figures.

Operating leverage: 4.47× (profit growth ÷ revenue growth)

What changed from last year

FY ending Mar 2025 → FY ending Mar 2026

Revenue
+10.2%¥304.7B → ¥335.7B
Gross profit
+13.2%¥137.1B → ¥155.2B
Operating income
+45.4%¥21.2B → ¥30.9B
Net income attributable to owners
+65.1%¥13.3B → ¥22B
Operating cash flow
+12.8%¥32.6B → ¥36.8B
Free cash flow
+20.5%¥18.9B → ¥22.8B

Results at a glance

  • Revenue for the FY ending Mar 2026 was ¥335.7B, up +10.2% from ¥304.7B.
  • Operating income jumped +45.4% to ¥30.9B from ¥21.2B, and net income rose +65.1% to ¥22B from ¥13.3B.
  • Gross profit grew +13.2%, faster than revenue, so each sale kept more of its price after costs.
  • Operating cash flow reached ¥36.8B (+12.8%) and free cash flow ¥22.8B (+20.5%).

What drove the change

  • In Japan, steady consumer spending and inbound tourists lifted sales of watches and at the Wako store.
  • Overseas, especially in the US, both Grand Seiko and Seiko global brand lines sold well.
  • Medical silver-oxide batteries and inkjet heads grew in the devices unit, while IT infrastructure, security, restaurant ordering systems and taxi payments grew in the systems unit.
  • Foreign exchange gains from large swings in the yen also improved non-operating results.

Things to watch

  • The watch business relies heavily on one particular supplier, so a change in its terms could hit results hard.
  • Many products depend on consumer spending, so economic conditions at home and abroad matter a lot.
  • A large share of production and sales is overseas, leaving prices, sourcing costs and translated earnings exposed to exchange rates.

Annual Securities Report / 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 / 事業等のリスク

Where the money goes

FY ending Mar 2025 → FY ending Mar 2026

Where ¥100 of sales goes

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

FY ending Mar 2026
Cost of sales
¥54
SG&A
¥37
Operating profit
¥9
Net profit kept
¥7

Annual margin trends

Gross margin46.2%
FY ending Mar 2021: 39.4%39.4%FY ending Mar 2022: 41.8%41.8%FY ending Mar 2023: 42.9%42.9%FY ending Mar 2024: 44.3%44.3%FY ending Mar 2025: 45.0%45.0%FY ending Mar 2026: 46.2%46.2%FY21FY22FY23FY24FY25FY26
Operating margin9.2%
FY ending Mar 2021: 1.1%1.1%FY ending Mar 2022: 3.7%3.7%FY ending Mar 2023: 4.3%4.3%FY ending Mar 2024: 5.3%5.3%FY ending Mar 2025: 7.0%7.0%FY ending Mar 2026: 9.2%9.2%FY21FY22FY23FY24FY25FY26
Net margin6.5%
FY ending Mar 2021: 1.7%1.7%FY ending Mar 2022: 2.7%2.7%FY ending Mar 2023: 1.9%1.9%FY ending Mar 2024: 3.6%3.6%FY ending Mar 2025: 4.4%4.4%FY ending Mar 2026: 6.5%6.5%FY21FY22FY23FY24FY25FY26

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

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165期(2025/04/01－2026/03/31)

    ID S100YHM22026-06-24Open

  • EDINET (FSA Japan)

    有価証券報告書－第164期(2024/04/01－2025/03/31)

    ID S100W5ES2025-06-26Open

  • EDINET (FSA Japan)

    有価証券報告書－第163期(2023/04/01－2024/03/31)

    ID S100TUHU2024-06-27Open

  • EDINET (FSA Japan)

    有価証券報告書－第162期(2022/04/01－2023/03/31)

    ID S100R7BJ2023-06-29Open

  • EDINET (FSA Japan)

    有価証券報告書－第161期(令和3年4月1日－令和4年3月31日)

    ID S100OIX12022-06-29Open

  • EDINET (FSA Japan)

    有価証券報告書－第160期(令和2年4月1日－令和3年3月31日)

    ID S100LT8N2021-06-29Open

Extracted from XBRL: 54 / Derived from other figures: 1

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