PowerX Nine-Month Sales More Than Double to ¥16.6 Billion as Grid Batteries Ship, Loss Narrows and Forecast Raised

Grid storage orders pile up

PowerX, Inc. (TSE: 485A) reported consolidated results for the first nine months of FY12/2026, January 1 to September 30, 2026, on November 12, 2026. Applications to connect grid-scale batteries have risen sharply since Japan's Seventh Strategic Energy Plan set renewables at roughly 40–50% of power generation by fiscal 2040, and PowerX said orders for stationary systems for battery storage plants were rising on the back of national and local subsidies. Part-costs rose on the weak yen and higher lithium prices, but sales and gross profit grew sharply, and in the July–September quarter it booked its first overseas sale, a large stationary system for Vietnam.

PowerX strengthened production and shipping at its existing site and bought the land and building for a new plant, Power Base Hokkaido, in Tomakomai. Its order book stood at ¥114,046 million on November 12, 2026, including prospective orders, of which ¥42,136 million is due to be booked as sales this year; firm orders for this year alone reach ¥41,248 million, or 100.6% of the full-year sales forecast. Total assets rose 56.2% to ¥40,976 million and the equity ratio fell to 15.9%.

Forecast raised, fourth-quarter weighted

PowerX raised its FY12/2026 forecast to net sales of ¥41,000 million (+112.4%), EBITDA of ¥2,700 million to ¥3,000 million, operating profit of ¥2,200 million to ¥2,500 million, and ordinary profit and net profit attributable to owners of ¥1,000 million to ¥1,500 million each. Sales and profit are concentrated in the second half, and especially the fourth quarter, because of the timing rules of customers' subsidy programmes. It plans no dividend.

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