Casio FY2026 Net Profit More Than Doubles to ¥18.2bn as Operating Profit Surges 62%

Casio Computer Co., Ltd. (TSE: 6952), the consumer-electronics group best known for its G-SHOCK watch franchise, reported a sharp profit recovery for the fiscal year ended March 31, 2026, in results published on May 14, 2026. Consolidated revenue rose 5.5% year-on-year to ¥276,267 million, but the real story was further down the income statement: operating profit surged 62.1% to ¥23,071 million, ordinary profit climbed 81.8% to ¥25,684 million, and net profit attributable to owners of the parent more than doubled — up 126.0% to ¥18,227 million from ¥8,064 million a year earlier. Earnings per share rose to ¥80.05 from ¥35.22.

Profitability metrics confirmed the breadth of the turnaround: return on equity recovered to 8.0% from 3.6%, while the operating margin expanded to 8.4% of revenue from 5.4%. Comprehensive income leapt to ¥31,468 million from just ¥2,487 million in the prior year, helped by the stronger underlying result and more favourable valuation and translation items.

G-SHOCK strength and structural reforms power the recovery

Casio's profit engine remains its timepiece business, anchored by the globally recognised G-SHOCK brand, alongside calculators, electronic dictionaries, electronic musical instruments and other consumer devices. The year's outsized profit growth reflected solid demand for timepieces — where premium G-SHOCK lines continue to command strong pricing — combined with cost discipline and structural improvements that the company has pushed through across its portfolio, all measured against a weak prior-year base. With revenue up only modestly, the 62% jump in operating profit underscores how much of the gain came from margin repair rather than volume: each incremental yen of sales dropped through to profit at a far higher rate than a year ago.

Cash-rich balance sheet underpins a ¥45 dividend

Casio's balance sheet remains conservatively financed. Total assets stood at ¥351,475 million at year-end, with net assets of ¥235,191 million and an equity ratio of 66.9% — high even by the standards of cash-generative Japanese consumer-electronics names. Book value per share was ¥1,045.90. Operating cash flow came to ¥30,153 million for the year, leaving cash and equivalents of ¥150,658 million — more than 40% of the balance sheet. The company declared an annual dividend of ¥45.00 per share (¥22.50 interim + ¥22.50 year-end), a payout ratio of 56.2% and a total distribution of ¥10,191 million. The dividend for FY2027 is undecided and will be announced at a later date.

FY2027 guidance: operating profit up a further 13%

For the fiscal year ending March 2027, Casio guides for revenue of ¥295,000 million (+6.8%) and operating profit of ¥26,000 million (+12.7%), with ordinary profit of ¥26,000 million (+1.2%) and net profit of ¥18,500 million (+1.5%), equivalent to EPS of ¥82.28. The guidance implies a further year of margin progress at the operating line, while the flatter ordinary- and net-profit projections suggest management does not expect the favourable non-operating tailwinds of FY2026 to repeat. Having more than doubled net profit in the year just ended, the company enters FY2027 with a markedly stronger earnings base than at any point since the pandemic era.

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.