Casio Posts Record Profit, Raises Full-Year Forecast and Dividend to 50 Yen per Share

Key Facts

Casio reported record first-half results on November 12, with sales rising 18.7% year over year to 157.504 billion yen in the six months ended September 30, 2026. Operating profit increased 153.1% to 24.018 billion yen, while profit attributable to owners of the parent rose 106.5% to 16.627 billion yen. The company said operating profit, ordinary profit and profit attributable to owners of the parent all reached record levels for the period. The results come as Casio raised its full-year forecast and decided to increase its expected annual dividend. The increase in operating profit reflects a pace of growth far outstripping that of sales.

The watch segment was the main driver of results, with first-half sales of 107.842 billion yen and segment profit of 23.159 billion yen. Casio said sales rose in all regions, citing a strategy that combines its G-Shock and Casio watch brands. It added that demand for popular G-Shock models supported performance, alongside Casio watches attracting new customer segments. The company cited improved demand in North America and emerging markets. The consumer segment posted sales of 44.926 billion yen and segment profit of 5.614 billion yen, while the “Other” segment recorded sales of 4.736 billion yen and an operating loss of 519 million yen.

In educational technology, Casio said sales rose on demand for scientific calculators as the school year began in some regions, as well as some orders being placed ahead of schedule. Its sound business maintained stable sales despite difficult market conditions. The company said Japan’s economy and overseas markets remained broadly stable during the period. It pointed, however, to higher energy prices and rising costs associated with escalating tensions in the Middle East. These factors put segment growth in the context of costs and geopolitical pressures that remain part of the company’s assessment of the economic environment.

Casio raised its forecast for the fiscal year ending March 31, 2027, compared with estimates announced on July 31, 2026. The company increased its sales target by 10 billion yen, operating profit by 5 billion yen, ordinary profit by 5.5 billion yen and profit attributable to owners of the parent by 3.5 billion yen. It now targets annual sales of 310 billion yen and operating profit of 39 billion yen. It also expects ordinary profit of 39.5 billion yen and profit attributable to owners of the parent of 27 billion yen. Expected annual growth rates for these metrics range from 12.2% for sales to 69% for operating profit.

The company raised its interim dividend to 25 yen per share, compared with 22.50 yen in the same period of the previous fiscal year. It expects to pay another 25 yen at year-end, bringing the expected annual dividend to 50 yen per share. That is an increase of 5 yen from the annual dividend in the previous fiscal year. On liquidity, net cash provided by operating activities totaled 16.459 billion yen in the first half, compared with 11.395 billion yen in the six months ended September 30, 2025. These figures provide another indicator of cash flow during the period in which the company recorded record profits.

Casio said its annual forecast assumes exchange rates of 155 yen to the dollar and 176 yen to the euro. It said global economic uncertainty is expected to persist amid higher raw material and energy prices and inflation linked to geopolitical risks. The company is scheduled to submit its semiannual securities report on November 13, 2026. Its current results cover the period ended September 30, while its revised forecast runs through the end of the fiscal year on March 31, 2027. The exchange-rate assumptions and pressures cited by the company remain among the factors surrounding these estimates.