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Presentation materials for financial results1720TOKYU CONSTRUCTION CO., LTD.Construction and Materials

Materials for the Financial Results Briefing for the Fiscal Year Ending March 2026

For the fiscal year ended March 2026, revenue reached a record high as large-scale projects progressed and profitability improved, while operating income rose substantially to ¥16.3 billion. For the fiscal year ending March 2027, revenue is expected to decline slightly, but operating income is forecast to increase as profitability improves and investment in human resources and DX continues.

Worth reading
62In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.
Direction
Improvement
Direction inferred from the company’s description.
Scale
163
¥100 million (operating income for the fiscal year ended March 2026)
Wording
Definitive
How definitive the wording is.

Contents of this document

Presentation materials for financial resultsFiscal year ending March 202610 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥341,181 million+16.4%
Operating profit¥16,306 million+84.5%
Ordinary income¥17,552 million+80.9%
Net income¥13,390 million+101.9%
Gross Profit Margin11 %
Operating profit margin4.8 %
Selling, general and administrative expenses¥21,336 million
Full-year earnings forecast
Fiscal year ending March 2027
Net Sales
¥334,000 million
Operating profit
¥16,500 million
Ordinary income
¥16,800 million
Net income
¥11,000 million
Individual company orders received
¥486,500 million
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Above plan
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
  • Increase in gross profit on completed construction (individual company)¥8,733 million
  • Increase in gross profit on completed construction (subsidiaries and other entities)¥840 million
  • Decrease in gross profit from real estate and other businesses¥-646 million
  • Increase in selling, general and administrative expenses¥-1,459 million
  • Decrease in equity-method investment gains¥-91 million
  • Increase in other non-operating income¥116 million
  • Increase in Gains on Sales of Investment Securities¥369 million
  • Increase in Gain on Sale of Fixed Assets¥564 million
  • Decrease in extraordinary losses¥766 million
  • Increase in income tax expenses¥-2,676 million
  • Other¥-98 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Specific numerical assumptions: Not disclosed. The forecast assumes a record-high level of carried-over construction orders, improved profitability, steady growth in domestic construction investment, and persistently high materials, equipment and labor costs. The impact of the situation in the Middle East and other factors has not been incorporated into the earnings forecast.
New initiatives
  • Change in the president scheduled for late June 2026
  • Transition to a company with an Audit & Supervisory Committee
  • Establishment of a Center for Corporate Culture Reform and training for all employees
  • Expansion of investment in human resources and DX
  • BIM/CIM, technological development, and recruitment of diverse talent
  • Expansion of orders for ODA projects and entry into non-ODA businesses
  • TOD urban development through collaboration with partner companies in each country
  • Promotion of real estate acquisitions in major regional cities
Key KPIsA metric the company considers important as a management benchmark.
  • Individual company orders received4,089 Hundreds of millions of yen
    Year on year against the same period last year+7.3%
  • ROE12.6 %
  • ROIC9.2 %
  • D/E ratio0.32 times
  • Equity ratio35.9 %
    Year on year against the same period last year-1.2%
  • PBR1.47 times
Segment results
Construction
Completed construction
¥259,236 million+18.0%
Gross profit on completed construction
¥19,539 million
Operating margin8.3
Civil engineering
Completed construction
¥74,350 million+8.6%
Gross profit on completed construction
¥12,484 million
Operating margin16.8
Real Estate Business and Other Operations
Net Sales
¥7,593 million+52.8%
Gross profit
¥1,593 million-28.9%
Building Renovation
Net Sales
¥24,685 million
Gross Profit Margin15.8
Orders received
¥23,786 million
International Business
Net Sales
¥9,545 million
Gross Profit Margin8.4
Medium-term management plan targets
Operating profit
FY2030¥22 billion or more
Operating profit margin
FY20305.0% or more
ROE
FY2030At least 10.0%
ROIC
FY20307.0% or more
Debt-to-equity ratio
FY20300.5x or less
Equity ratio
FY2030Approximately 45%
Comparison with actual results
Operating profitFiscal 2025 actual: ¥16.3 billion; fiscal 2026 forecast: ¥16.5 billion
ROEFiscal 2025 actual: 12.6%; fiscal 2026 forecast: 9.7%
Financial targets
ROE
Actual results12.6 %
FY2026 forecast9.7 %
FY2030 targetAt least 10.0%
ROIC
Actual results9.2 %
FY2030 target7.0% or more
Debt-to-equity ratio
Actual results0.32 times
FY2030 target0.5x or less
Equity ratio
Actual results35.9 %
FY2030 targetApproximately 45%
Orders received and order backlog
Individual company orders received
Actual results for the fiscal year ending March 20264,089 Hundreds of millions of yen
Forecast for the fiscal year ending March 20274,865 Hundreds of millions of yen
Total construction business
Actual results for the fiscal year ending March 2026¥408,944 million
Forecast for the fiscal year ending March 2027¥486,500 million
Carried-forward construction work
Construction
Actual results for the fiscal year ending March 2026¥450,647 million
Forecast for the fiscal year ending March 2027¥574,647 million
Civil engineering
Actual results for the fiscal year ending March 2026¥167,472 million
Forecast for the fiscal year ending March 2027¥229,972 million
Annual Dividend
Annual dividend per share¥40
Interim¥19
End of period¥21
Contents of this document
ItemDetails
Document typePresentation materials for financial results
Fiscal Period CoveredFiscal year ending March 2026
Net Sales¥341,181 million (YoY +16.4%)
Operating profit¥16,306 million (YoY +84.5%)
Ordinary income¥17,552 million (YoY +80.9%)
Net income¥13,390 million (YoY +101.9%)
Gross Profit Margin11 %
Operating profit margin4.8 %
Selling, general and administrative expenses¥21,336 million
Full-year earnings forecastFiscal year ending March 2027 Net Sales ¥334,000 million / Operating profit ¥16,500 million / Ordinary income ¥16,800 million / Net income ¥11,000 million / Individual company orders received ¥486,500 million
Self-assessment against the planAbove plan
Segment resultsConstruction Completed construction ¥259,236 million (YoY +18.0%) / Gross profit on completed construction ¥19,539 million / Civil engineering Completed construction ¥74,350 million (YoY +8.6%) / Gross profit on completed construction ¥12,484 million / Real Estate Business and Other Operations Net Sales ¥7,593 million (YoY +52.8%) / Gross profit ¥1,593 million (YoY -28.9%) / Building Renovation Net Sales ¥24,685 million / Gross Profit Margin 15.8 / Orders received ¥23,786 million / International Business Net Sales ¥9,545 million / Gross Profit Margin 8.4
Breakdown of Factors Affecting the ChangeFactors Increase in gross profit on completed construction (individual company) / Amount ¥8,733 million, Factors Increase in gross profit on completed construction (subsidiaries and other entities) / Amount ¥840 million, Factors Decrease in gross profit from real estate and other businesses / Amount ¥-646 million, Factors Increase in selling, general and administrative expenses / Amount ¥-1,459 million, Factors Decrease in equity-method investment gains / Amount ¥-91 million, Factors Increase in other non-operating income / Amount ¥116 million, Factors Increase in Gains on Sales of Investment Securities / Amount ¥369 million, Factors Increase in Gain on Sale of Fixed Assets / Amount ¥564 million, Factors Decrease in extraordinary losses / Amount ¥766 million, Factors Increase in income tax expenses / Amount ¥-2,676 million, Factors Other / Amount ¥-98 million
Key KPIsIndicator name Individual company orders received / Value 4,089 Hundreds of millions of yen / Year on year against the same period last year 7.3 Hundreds of millions of yen, Indicator name ROE / Value 12.6 % / Year on year against the same period last year Not disclosed, Indicator name ROIC / Value 9.2 % / Year on year against the same period last year Not disclosed, Indicator name D/E ratio / Value 0.32 times / Year on year against the same period last year Not disclosed, Indicator name Equity ratio / Value 35.9 % / Year on year against the same period last year -1.2 %, Indicator name PBR / Value 1.47 times / Year on year against the same period last year Not disclosed
Assumptions Underlying the Business OutlookSpecific numerical assumptions: Not disclosed. The forecast assumes a record-high level of carried-over construction orders, improved profitability, steady growth in domestic construction investment, and persistently high materials, equipment and labor costs. The impact of the situation in the Middle East and other factors has not been incorporated into the earnings forecast.
Medium-term management plan targetsOperating profit FY2030 ¥22 billion or more / Operating profit margin FY2030 5.0% or more / ROE FY2030 At least 10.0% / ROIC FY2030 7.0% or more / Debt-to-equity ratio FY2030 0.5x or less / Equity ratio FY2030 Approximately 45% / Comparison with actual results Operating profit Fiscal 2025 actual: ¥16.3 billion; fiscal 2026 forecast: ¥16.5 billion / ROE Fiscal 2025 actual: 12.6%; fiscal 2026 forecast: 9.7%
Financial targetsROE Actual results 12.6 % / FY2026 forecast 9.7 % / FY2030 target At least 10.0% / ROIC Actual results 9.2 % / FY2030 target 7.0% or more / Debt-to-equity ratio Actual results 0.32 times / FY2030 target 0.5x or less / Equity ratio Actual results 35.9 % / FY2030 target Approximately 45%
Annual DividendAnnual dividend per share ¥40 / Interim ¥19 / End of period ¥21
Orders received and order backlogIndividual company orders received Actual results for the fiscal year ending March 2026 4,089 Hundreds of millions of yen / Forecast for the fiscal year ending March 2027 4,865 Hundreds of millions of yen / Total construction business Actual results for the fiscal year ending March 2026 ¥408,944 million / Forecast for the fiscal year ending March 2027 ¥486,500 million / Carried-forward construction work Construction Actual results for the fiscal year ending March 2026 ¥450,647 million / Forecast for the fiscal year ending March 2027 ¥574,647 million / Civil engineering Actual results for the fiscal year ending March 2026 ¥167,472 million / Forecast for the fiscal year ending March 2027 ¥229,972 million
New initiativesChange in the president scheduled for late June 2026, Transition to a company with an Audit & Supervisory Committee, Establishment of a Center for Corporate Culture Reform and training for all employees, Expansion of investment in human resources and DX, BIM/CIM, technological development, and recruitment of diverse talent, Expansion of orders for ODA projects and entry into non-ODA businesses, TOD urban development through collaboration with partner companies in each country, Promotion of real estate acquisitions in major regional cities
Items this document does not state (11)
Results for the three months of the current quarterProgress against full-year forecastUnit price and quantity metricsNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookPayout ratioAcquisition of treasury sharesCapital expendituresMarket Size / ShareKey points of the Q&A

These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.

The reasons the company gives

The company's own explanation, not something inferred from the numbers.

The main factors were steady progress on large-scale projects, higher completed construction revenue in the Building Construction segment, improved profitability in Civil Engineering, and stronger profitability at the time of order receipt. SG&A expenses increased due to investments in human capital, research and development, and digital initiatives, but the increase in gross profit on completed construction more than offset this. In addition to the improvement in operating income, net income benefited from extraordinary gains on the sale of policy-held shares and fixed assets.

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Materials for the Financial Results Briefing for the Fiscal Year Ending March 2026 | TOKYU CONSTRUCTION CO., LTD. (1720) timely disclosure | Komori