Worth reading
63In 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
26.3
Year-on-year change in operating profit (%)Wording
Conditional
How definitive the wording is.Results for this period
Full year1 April 2025 to 31 March 2026ConsolidatedJapanese GAAPNet Sales33,722¥ millionYear on year +7.3%Progress 97.7%
Operating profit5,084¥ millionYear on year +26.3%Progress 94.1%
Ordinary income5,358¥ millionYear on year +26.9%Progress 94.0%
Net income attributable to owners of the parent3,626¥ millionYear on year +26.2%
The width of the band at each stage is based on revenue. The narrower it becomes toward the bottom, the smaller the proportion of revenue that remains as profit. The dotted outline is the full-year forecast and the band inside it is the result for this period. The progress rate is the result divided by the forecast.
Net income per share¥234.06
Operating MarginCurrent fiscal year 15.1 ％ / Previous period 12.8 ％
Financial position at period-end
Total assets39,314¥ million
of which net assets 27,085 ¥ millionEquity ratio 67.5%vs. prior year-end +3.0pt
塗りつぶした部分が自己資本比率です。総資産のうち、返済のいらない自前の資金がどれだけかを表します。The thin vertical line indicates the level at the end of the previous fiscal year.
Cash inflows and outflows
Operating+4,617
Investment-1,246
Financials-1,371
Net change+2,000
Stacked from zero: upward is an increase in cash, downward a decrease (in ¥ million).The net change represented by the dotted line is the total of three items, calculated from figures provided by the company.
Cash and cash equivalents at end of period¥10,340 million
Segment revenue
Environmental Systems Business21,708,51164.4%+8.6%
Piping and Equipment Materials Business12,013,75035.6%+5.1%
Segment profit
Environmental Systems Business6,075,179+26.8%
Piping and Equipment Materials Business-80,732
Outlook and shareholder returns
Full-year earnings forecast
Net Sales¥34,500 million (YoY +2.3%)
Operating profit¥5,400 million (YoY +6.2%)
Ordinary income¥5,700 million (YoY +6.4%)
Profit attributable to owners of the parent¥3,800 million (YoY +4.8%)
Annual Dividend Forecast¥82 per share → ¥98 per share（+19.5%）
Payout ratioFiscal year ending March 2026 35 ％ / Forecast for the fiscal year ending March 2027 40 ％
Shareholder Return PolicyThe basic policy is to maintain a dividend on equity (DOE) of at least 3.6%. For the next fiscal year, dividends will be paid based on whichever is higher: a consolidated dividend payout ratio of at least 40% or a DOE of at least 4.8%.
Factors Behind Changes in Business Performance
Net sales increased due to higher revenue from completed construction on existing facilities. Operating income increased due to an improvement in the gross profit margin. The Piping and Equipment Materials Business recorded an operating loss because it could not fully pass on the increase in the cost of sales through prices.
Disclosure regarding the going concern assumption
Not applicable (notes regarding the going concern assumption)
Change in accounting policy
基準改正に伴う変更 Noそれ以外の変更 No見積りの変更 No修正再表示 No
Changes in the scope of consolidationNew 0 / Excluded 0 / Company name None
Material subsequent eventsOn 6 April 2026, all shares of 有限会社ケー・ティー・エス were acquired and the company became a subsidiary. The purchase consideration was ¥200 million in cash, and acquisition-related costs are estimated at ¥17 million.
Impairment loss¥50,084 thousand
Breakdown of extraordinary income (loss)Extraordinary income Gain on sale of non-current assets ¥8,914 thousand, Gain on sale of investment securities ¥5,423 thousand, Gain on sale of membership rights ¥17 thousand / Extraordinary loss Loss on sale of fixed assets ¥390 thousand, Loss on Disposal of Fixed Assets ¥139 thousand, Impairment Losses ¥50,084 thousand
Depreciation and amortization¥318,779 thousand
Orders received and order backlogOrders received ¥23,337 million / Order backlog Not disclosed
Availability of Supplementary Financial Results MaterialsYes
Availability of Financial Results BriefingWhether applicable Yes / Subject person Institutional investors and analysts
Issued Shares at Period-End17,100,000
Treasury Shares at Period-End1,605,648
| Item | Details |
|---|---|
| Fiscal Period Classification | Full year |
| Accounting standards | Japanese GAAP |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 April 2025 to 31 March 2026 |
| Net Sales | ¥33,722 million (YoY +7.3%) |
| Operating profit | ¥5,084 million (YoY +26.3%) |
| Ordinary income | ¥5,358 million (YoY +26.9%) |
| Profit attributable to owners of the parent | ¥3,626 million (YoY +26.2%) |
| Net income per share | ¥234.06 |
| Operating Margin | Current fiscal year 15.1 ％ / Previous period 12.8 ％ |
| Equity ratio | End of the current fiscal period 67.5 / End of previous period 64.5 |
| Total assets | ¥39,314 million |
| Net assets | ¥27,085 million |
| Cash flows from operating activities | ¥4,617 million |
| Cash flows from investing activities | ¥-1,246 million |
| Cash flows from financing activities | ¥-1,371 million |
| Cash and cash equivalents at end of period | ¥10,340 million |
| Full-year earnings forecast | Net Sales ¥34,500 million (YoY +2.3%) / Operating profit ¥5,400 million (YoY +6.2%) / Ordinary income ¥5,700 million (YoY +6.4%) / Profit attributable to owners of the parent ¥3,800 million (YoY +4.8%) |
| Annual Dividend Forecast | ¥82 per share → ¥98 per share（+19.5%） |
| Payout ratio | Fiscal year ending March 2026 35 ％ / Forecast for the fiscal year ending March 2027 40 ％ |
| Shareholder Return Policy | The basic policy is to maintain a dividend on equity (DOE) of at least 3.6%. For the next fiscal year, dividends will be paid based on whichever is higher: a consolidated dividend payout ratio of at least 40% or a DOE of at least 4.8%. |
| Segment revenue | Environmental Systems Business ¥21,708,511 thousand (YoY +8.6%) / Piping and Equipment Materials Business ¥12,013,750 thousand (YoY +5.1%) |
| Segment profit | Environmental Systems Business ¥6,075,179 thousand (YoY +26.8%) / Piping and Equipment Materials Business ¥-80,732 thousand |
| Orders received and order backlog | Orders received ¥23,337 million / Order backlog Not disclosed |
| Depreciation and amortization | ¥318,779 thousand |
| Impairment loss | ¥50,084 thousand |
| Breakdown of extraordinary income (loss) | Extraordinary income Gain on sale of non-current assets ¥8,914 thousand, Gain on sale of investment securities ¥5,423 thousand, Gain on sale of membership rights ¥17 thousand / Extraordinary loss Loss on sale of fixed assets ¥390 thousand, Loss on Disposal of Fixed Assets ¥139 thousand, Impairment Losses ¥50,084 thousand |
| Disclosure regarding the going concern assumption | Not applicable (notes regarding the going concern assumption) |
| Change in accounting policy | Changes due to revisions to standards No / Other changes No / Change in accounting estimate No / Restatement No |
| Changes in the scope of consolidation | New 0 / Excluded 0 / Company name None |
| Material subsequent events | On 6 April 2026, all shares of 有限会社ケー・ティー・エス were acquired and the company became a subsidiary. The purchase consideration was ¥200 million in cash, and acquisition-related costs are estimated at ¥17 million. |
| Availability of Supplementary Financial Results Materials | Yes |
| Availability of Financial Results Briefing | Whether applicable Yes / Subject person Institutional investors and analysts |
| Issued Shares at Period-End | 17,100,000 |
| Treasury Shares at Period-End | 1,605,648 |
| Factors Behind Changes in Business Performance | Net sales increased due to higher revenue from completed construction on existing facilities. Operating income increased due to an improvement in the gross profit margin. The Piping and Equipment Materials Business recorded an operating loss because it could not fully pass on the increase in the cost of sales through prices. |
Items this document does not state (2)
Revision to Earnings ForecastRegional sales
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.In addition to an improvement in the gross profit margin, revenue from completed construction increased in the Environmental Systems Business, which contributed to earnings. In the Piping and Equipment Materials Business, however, the increase in the cost of sales could not be fully passed on through prices, resulting in an operating loss.
How to read this page
This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
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Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.