May 16, 2025: GS Yuasa said on May 13 increased battery sales drove a rise in operating profit over the past year.
Operating profit before amortization and goodwill was up 20% to JPY50 billion ($341 million) for the year ended March 31 compared to 2023 and net sales increased 3% to JPY580 million, according to the consolidated earnings report.
However, the Japan-based company warned that the outlook over the coming year was uncertain as a result of US tariff policies — and warned of unspecified “downside risks”, particularly for the battery giant’s overseas business locations.
Nevertheless, the firm’s forecast for the fiscal year ending March 2026 anticipates an increase in net sales of JPY600 billion, driven by increased sales of lithium ion batteries for energy storage systems, backup power systems and EVs such as plug-in hybrids and hybrids.
The group’s business units include Automotive Batteries-Japan (ABJ), comprising the manufacturing and marketing of lead acid batteries for cars.
ABJ net sales in Japan for the fiscal year ended March 31 totalled JPY102 billion, a year-on-year increase of more than 8%, due to increases in sales and battery prices.
Overseas net sales totalled JPY260 billion, a year-on-year increase of 3%, increased sales in Europe and southeast Asia, as well as the effect of JPY depreciation on foreign exchanges.
Meanwhile, net sales in the automotive lithium ion batteries segment dipped by more than 2% to JPY82 billion, due to a fall in sales for plug-in hybrids and lower sales prices resulting from falling raw material prices, despite an increase in sales of lithium ion batteries for hybrid vehicles.
Batteries International reported last January that US energy firm Ameren had commissioned a new EV fast-charging station powered by advanced lead batteries from GS Yuasa.