Rinnai reports strong half-year earnings and strategic Latin America acquisition

Rinnai Corporation achieved record-high net sales of ¥216,415 million for the six months ended September 30, 2025, a 2.0% increase year-on-year. Operating income rose 8.2% to ¥22,725 million, with ordinary income climbing 13.2% to ¥25,272 million. Net income attributable to owners of the parent company saw a substantial jump of 30.0% to ¥15,918 million, resulting in net income per share of ¥113.77. The company maintained a strong financial position, with total assets at ¥586,172 million and an equity ratio of 68.8%.

Geographically, Japan's sales increased 2.7% to ¥93,655 million, with operating income up 13.4% to ¥10,754 million. The United States saw sales grow 9.7% to ¥35,286 million and operating income by 28.7% to ¥1,151 million. Australia experienced a 26.1% sales increase to ¥20,444 million, boosting operating income by 46.8% to ¥1,064 million. Despite challenges, South Korea's operating income jumped 41.5% to ¥796 million.

Subsequent to the reporting period, Rinnai announced the acquisition of MT Industrial S.A.C., a Peruvian housing appliance sales company, for approximately ¥11,000 million. This acquisition, completed on October 31, 2025, is part of Rinnai’s strategy to expand its business scale in Latin America and strengthen its presence in new and emerging markets.