Canon Marketing Japan Inc. (TSE: 8060) reported consolidated results for the first quarter of the fiscal year ending December 2026 (Q1, January 1 to March 31, 2026) under Japanese GAAP. Revenue rose 2.6% year-on-year to ¥171,666 million, but the profit performance was far stronger: operating profit jumped 40.7% to ¥18,526 million, ordinary profit climbed 40.6% to ¥18,565 million, and net profit attributable to owners of the parent surged 45.3% to ¥12,800 million from ¥8,809 million. Basic earnings per share, on the post-split basis, reached ¥60.09 versus ¥40.44 a year earlier.
Margin expansion drives the recovery
The defining feature of the quarter was the gap between top-line and bottom-line growth: revenue advanced only 2.6%, but every profit line grew more than 40%. The year-earlier quarter was a soft comparison — Q1 FY12/2025 operating profit had fallen 4.6% — so the rebound reflects both a recovery from that weak base and genuine margin expansion across Canon MJ's mix of imaging hardware, office multifunction printers and printing solutions, and IT solutions and services for businesses. Comprehensive income rose a more modest 18.5% to ¥8,811 million, reflecting valuation movements below the operating line.
Solid balance sheet, high equity ratio
Canon MJ ended the quarter with total assets of ¥546,250 million and net assets of ¥396,924 million, leaving an equity ratio of 72.5% — a notably conservative, cash-rich capital structure typical of the company. Book value per share, on the post-split basis, stood at ¥1,885.06. The strength of the balance sheet underpins both the planned dividend and the capital action announced alongside results.
2-for-1 stock split and dividend
The board approved a 2-for-1 common-stock split, with a record date of March 31, 2026 and an effective date of April 1, 2026, aimed at lowering the per-share investment unit and improving share liquidity. All per-share figures — EPS, book value and dividends — are presented on the post-split basis. On that basis, Canon MJ forecasts a FY12/2026 annual dividend of ¥90.00 (equivalent to ¥180.00 before the split), against ¥170.00 paid in FY12/2025 (interim ¥70.00 plus year-end ¥100.00). The interim FY2026 dividend is currently undecided, as the company has not issued a first-half forecast.
Full-year guidance left conservative
Despite the strong start, management kept full-year guidance cautious. For FY12/2026 the company targets revenue of ¥685,000 million (+0.8%), operating profit of ¥60,000 million (+3.1%), ordinary profit of ¥60,700 million (+1.4%), and net profit attributable to owners of ¥42,000 million (+1.3%), with EPS of ¥199.14. Notably, the Q1 operating profit of ¥18,526 million already represents roughly 31% of the full-year ¥60,000 million target — leaving room for an upward revision later in the year if the first-quarter momentum is sustained.
| Metric | Q1 FY12/2026 | Q1 FY12/2025 | YoY |
|---|---|---|---|
| Revenue (¥M) | 171,666 | 167,316 | +2.6% |
| Operating profit (¥M) | 18,526 | 13,169 | +40.7% |
| Ordinary profit (¥M) | 18,565 | 13,203 | +40.6% |
| Net profit attrib. to owners (¥M) | 12,800 | 8,809 | +45.3% |
| Basic EPS (¥, split-adj.) | 60.09 | 40.44 | +48.6% |
| FY26 full-year OP guidance (¥M) | 60,000 | — | +3.1% |
| FY26 annual dividend (¥, split-adj.) | 90.00 | 85.00 | +5.9% |
JapanStockPulse provides informational content only and does not constitute investment advice. Figures are taken from the company's published earnings short report and may be subject to subsequent revision.