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What Zojirushi reported for the first nine months of FY2026
The figures below compare the nine months ended August 20, 2026, with the corresponding prior-year period, as reported in Zojirushi Corporation’s October 2, 2026 consolidated results release. Amounts are in millions of yen.
| Measure | Nine months ended August 20, 2026 | Year-over-year change |
|---|---|---|
| Net sales | ¥69,987 million | Up 3.4% |
| Operating profit | ¥5,856 million | Up 5.3% |
| Ordinary profit | ¥6,348 million | Up 3.9% |
| Profit attributable to owners of the parent | ¥4,015 million | Down 2.9% |
These measures are not interchangeable. The result is mixed rather than a broad decline in earnings: operating and ordinary profit grew, while the bottom-line measure attributable to the parent company’s owners decreased. The reported figures establish that divergence, but do not identify a specific cause for it.
Why revenue growth does not settle the earnings question
Net sales measure revenue, not the amount left as profit. The release also reports gross profit of ¥24,064 million, compared with ¥22,418 million in the prior-year nine-month period, and selling, general and administrative expenses of ¥18,207 million, compared with ¥16,858 million. Operating profit was ¥5,856 million, up from ¥5,560 million.
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This comparison shows that both gross profit and SG&A expenses increased while operating profit rose. It does not, by itself, explain why parent-attributable profit fell, or establish that any specific product, region, currency move, tariff, or expense caused the change. The FY2026 release provides the results, not a verified causal account for the different profit trends.
How the nine-month results compare with company guidance
In the same October 2 release, Zojirushi left its full-year FY2026 forecast unchanged. The forecast covers the fiscal year, so it should not be read as another nine-month result.
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| Measure | FY2026 full-year company forecast |
|---|---|
| Net sales | ¥92,500 million |
| Operating profit | ¥6,600 million |
| Ordinary profit | ¥7,100 million |
| Profit attributable to owners of the parent | ¥4,800 million |
The forecast is company guidance, not a guarantee of the eventual result. The nine-month figures and full-year forecast use different time periods; the forecast should therefore be treated as outlook context, not as a direct year-over-year comparison.
Balance-sheet context—and what it does not tell investors
At August 20, 2026, Zojirushi reported total assets of ¥116,572 million, net assets of ¥92,014 million, and an equity ratio of 78.1%. Those figures describe the company’s financial position at that date. They do not establish whether the stock is attractively valued or provide a buy-or-sell conclusion.
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Zojirushi’s June 29, 2026 second-quarter release reported six-month sales of ¥51,210 million, up 2.2%, and operating profit of ¥5,212 million, up 7.0%. Its January 9, 2026 FY2025 annual release reported sales of ¥91,151 million, up 4.5%, and operating profit of ¥7,436 million, up 24.9%, while parent-attributable profit was ¥5,980 million, down 7.5%.
A prior FY2025 company presentation connected that year’s nine-month parent-attributable profit decline with comparison against a gain on the sale of non-current assets recorded in the previous fiscal year. That is historical context only; it does not establish the reason for the FY2026 decline.
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What an investor can conclude
- Revenue grew 3.4% in the nine months ended August 20, 2026.
- Operating profit and ordinary profit also increased, so “earnings lose steam” applies specifically to parent-attributable profit, which fell 2.9%.
- The company’s full-year forecast was unchanged in the October 2 release; it remains guidance rather than a reported outcome.
- The filing gives no verified specific cause for the FY2026 divergence among these measures.
Zojirushi’s official IR library lists financial results and other investor materials. The cited FY2026 release is an English translation; its notice says the Japanese original prevails if there is a discrepancy.
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