Zojirushi's US subsidiary has asked for $8mn back on tariffs that the US Supreme Court ruled invalid, but only a small slice has reached the income statement so far. The rice-cooker and vacuum-bottle maker booked ¥207mn of refunds in its nine months to 20 August 2026, and the larger cash receipt came after the period closed. The company left its full-year forecast where it was.
Applied, recognised, received
Zojirushi America Corporation filed refund applications totalling $8mn (about ¥1.29bn at the end-June 2026 rate) by the end of June 2026. The tariffs were imposed under the International Emergency Economic Powers Act (IEEPA), and the company's quarterly report says the Supreme Court judged them invalid.
Part of the refund process was complete within the nine months. Zojirushi booked ¥207mn as a reduction in cost of sales, which lifts gross profit, and a further ¥8mn as a reduction in the carrying value of merchandise and finished goods.
A separate note on subsequent events says the unit received $6mn (about ¥1.03bn at the end-June 2026 rate) after the third-quarter period ended. The quarterly report gives no accounting treatment for that receipt.
| Stage | Amount | Treatment in the report |
|---|---|---|
| Applied for by end-June 2026 | $8mn (about ¥1.29bn) | Refund applications by Zojirushi America Corporation |
| Completed in nine months to 20 August 2026 | ¥207mn and ¥8mn | ¥207mn cut from cost of sales; ¥8mn cut from merchandise and finished goods |
| Received after the third-quarter period | $6mn (about ¥1.03bn) | Disclosed as a significant subsequent event |
Guidance held
Zojirushi kept its forecast for the year to 20 November 2026: sales of ¥92.5bn (up 1.5%), operating profit of ¥6.6bn (down 11.2%), ordinary profit of ¥7.1bn (down 14.5%) and net profit of ¥4.8bn (down 19.7%). The exchange-rate assumption stays at ¥155 to the dollar.
The company's explanation is two-sided. Current performance is running above its expectations, and the US tariff refund brings a temporary profit increase. Against that, management weighed higher raw-material prices linked to the Middle East situation and chose to hold the forecast. The report does not quantify the raw-material pressure.
The nine months
Sales for the nine months were ¥69.99bn, up 3.4% on the year. Operating profit rose 5.3% to ¥5.86bn and ordinary profit rose 3.9% to ¥6.35bn. Net profit attributable to owners of the parent fell 2.9% to ¥4.02bn. Income-tax charges were ¥2.16bn, against ¥1.81bn a year earlier.
Zojirushi attributes the operating gain to strong domestic sales of high-value products, led by its top-end pressure induction-heating rice cooker, and to price increases passed on to cover higher import costs from a weaker yen. Together these absorbed higher selling and administrative expenses, which rose to ¥18.21bn from ¥16.86bn. Figures are cumulative for the nine months, not the third quarter alone.