Yamazen, the Tokyo-listed machinery and tools trading company, raised its interim and full-year forecasts. It said demand in its production-goods business was running "well above" its own assumptions. The company announced the revision on 21 October 2026, amending the guidance it issued on 10 August.
The new numbers
For the full year to March 2027, Yamazen now expects sales of ¥618.0bn, up from a prior forecast of ¥585.0bn. Operating profit is guided at ¥17.9bn (previously ¥15.0bn), ordinary profit at ¥18.7bn (¥15.4bn) and profit attributable to owners of the parent at ¥12.25bn (¥10.0bn). Earnings per share is now forecast at ¥141.83, against ¥115.92 before.
The interim period, April to September 2026, gets a larger relative lift. Sales are now seen at ¥307.0bn (previously ¥290.0bn) and operating profit at ¥8.9bn (¥7.0bn). The revised interim operating profit forecast is 27.1% above the previous one; for the full year the increase is 19.3%. These are changes against Yamazen's own earlier guidance, not year-on-year growth.
| Measure | Period | Previous | Revised |
|---|---|---|---|
| Sales | Interim | ¥290.0bn | ¥307.0bn |
| Operating profit | Interim | ¥7.0bn | ¥8.9bn |
| Sales | Full year | ¥585.0bn | ¥618.0bn |
| Operating profit | Full year | ¥15.0bn | ¥17.9bn |
| Ordinary profit | Full year | ¥15.4bn | ¥18.7bn |
| Net profit attributable to owners | Full year | ¥10.0bn | ¥12.25bn |
Where demand is coming from
Yamazen said that since the August revision, demand in its production-goods business had continued to run well above its assumptions. It named semiconductors and AI, data centres, aerospace, shipbuilding and the defence industry. These are the company's own descriptions of its business, not a measure of national investment.
It also said its orders improved on two counts: inquiries are more likely to turn into formal contracts, and the time to contract has shortened. That left orders at a level that matches demand, in the company's words.
Timing also helps
Part of the upgrade is about when goods ship. Yamazen had bought some products ahead of orders to secure supply and shorten lead times. Because orders came in higher than forecast, those products are now due to ship earlier than expected. The company lists this alongside demand as a reason the interim figures are now expected to beat the prior forecast.
The full-year caveat
Yamazen said it still has to watch market trends and the external environment from the third quarter onward. Its full-year raise rests on the order backlog and strong inquiries in its overseas production-goods business, its product procurement outlook, and a change in sales mix that includes other businesses it described as holding firm.
The dividend forecast is unchanged. Yamazen said it would announce any further revision promptly if it judged one necessary. The forecasts are based on information available on the release date and could differ from actual results.