OSG Corporation, a maker of cutting tools, threading tools, milling cutters and drills listed on the Tokyo and Nagoya exchanges, has raised its full-year sales and profit forecast for the year to November 2026 and lifted its dividend to match. The company now expects net sales of ¥185.0bn, up 12.1% from its January forecast of ¥165.0bn, and operating profit of ¥30.0bn, up 36.4% from ¥22.0bn. Net income attributable to shareholders is guided at ¥21.0bn, also up 36.4%, with earnings per share rising to ¥255.60 from a prior ¥187.46.
| Metric | Previous Forecast (Jan 2026) | Revised Forecast (Jul 2026) |
|---|---|---|
| Net sales | ¥165.0bn | ¥185.0bn |
| Operating profit | ¥22.0bn | ¥30.0bn |
| Ordinary profit | ¥23.0bn | ¥32.0bn |
| Net income | ¥15.4bn | ¥21.0bn |
| Earnings per share | ¥187.46 | ¥255.60 |
| Annual dividend | ¥84.00 | ¥115.00 |
OSG said the yen weakened more than it had assumed at the start of the year and that demand held up across its main markets through the first half. That first half already showed the shift: sales rose 19.0% to ¥92.1bn, operating profit jumped 65.1% to ¥15.7bn and net income nearly doubled, up 92.8% to ¥12.5bn, with overseas sales climbing to 70.5% of the total from 67.4% a year earlier. Management pointed to demand in India, a recovery in China and Thailand, and stronger sales in Germany and the United States.
The dividend increase follows OSG's stated policy of paying out the higher of 45% of profit or 3.5% of shareholders' equity, a measure known as DOE. The year-end payment rises to ¥76 from a previously planned ¥45, taking the full-year total to ¥115 a share, up from ¥88 in the prior year; the interim dividend of ¥39 already paid is unchanged.
OSG flagged unresolved risks for the second half, including raw-material costs and geopolitical tension, and the improved guidance still depends partly on the yen holding near its current level rather than reversing.