Worth reading
50Recurring
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
56.2
% (year-on-year increase in operating profit)Wording
Conditional
How definitive the wording is.Results for this period
Full year1 April 2025–31 March 2026ConsolidatedJapanese GAAPNet Sales357,675¥ millionYear on year +3.2%Progress 89.4%
Operating profit17,897¥ millionYear on year +56.2%Progress 89.5%
Ordinary income17,512¥ millionYear on year +64.9%Progress 89.8%
Net income attributable to owners of the parent11,426¥ millionYear on year +77.1%Progress 91.4%
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¥328.18
Operating Margin5.0%
Financial position at period-end
Total assets314,734¥ million
of which net assets 146,926 ¥ millionEquity ratio 46.7%vs. prior year-end -4.4pt
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-16,889
Investment-3,588
Financials+18,761
Net change-1,716
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¥33,920 million
Segment revenueBuilding Construction ¥172,838 million (YoY +6.0%), Civil Engineering Business ¥100,736 million (YoY -0.7%), Real Estate Business ¥84,100 million (YoY +2.3%)
Segment profitBuilding Construction ¥12,465 million (YoY +229.9%), Civil Engineering Business ¥6,514 million (YoY +10.8%), Real Estate Business ¥6,084 million (YoY -15.4%)
Outlook and shareholder returns
Full-year earnings forecast
Net Sales¥400,000 million (YoY +11.8%)
Operating profit¥20,000 million (YoY +11.8%)
Ordinary income¥19,500 million (YoY +11.4%)
Net income¥12,500 million (YoY +9.4%)
Revision to Earnings ForecastProfit attributable to owners of the parent 10,000 → Profit attributable to owners of the parent 12,500（Profit attributable to owners of the parent 25）
Annual Dividend Forecast130 Yen (per share, vs previous fiscal year actual) → 144 Yen (per share, vs previous fiscal year actual)（+17.1%）
Payout ratio39.6% (FY2026 actual), 40.1% (FY2027 forecast)
Shareholder Return PolicyDividend payout ratio of approximately 40%, progressive dividends, and an annual per-share dividend floor of ¥90
Factors Behind Changes in Business Performance
Public-sector construction investment remained firm, while private-sector construction investment was supported by companies’ willingness to invest in facilities, resulting in a solid order environment. Both orders received and net sales reached record highs, and segment profit increased in the building construction and civil engineering businesses.
Disclosure regarding the going concern assumption
No applicable matters (There are no applicable matters.)
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 consolidationAdded: 0 companies; excluded: 0 companies
Material subsequent eventsNo applicable matters.
Breakdown of extraordinary income (loss)Extraordinary income Gain on sale of non-current assets ¥18 million, Gain on sale of investment securities ¥237 million, Other ¥5 million / Extraordinary loss Loss on sale of fixed assets ¥0 million, Loss on Disposal of Fixed Assets ¥39 million
Depreciation and amortization¥2,287 million
Orders received and order backlogOrders received: ¥436,098 million (up 11.4% year on year); order backlog: Not disclosed
Availability of Supplementary Financial Results MaterialsYes
Availability of Financial Results BriefingYes (for analysts)
Issued Shares at Period-End34,818,578
Treasury Shares at Period-End111
| Item | Details |
|---|---|
| Fiscal Period Classification | Full year |
| Accounting standards | Japanese GAAP |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 April 2025–31 March 2026 |
| Net Sales | ¥357,675 million (YoY +3.2%) |
| Operating profit | ¥17,897 million (YoY +56.2%) |
| Ordinary income | ¥17,512 million (YoY +64.9%) |
| Profit attributable to owners of the parent | ¥11,426 million (YoY +77.1%) |
| Net income per share | ¥328.18 |
| Operating Margin | 5.0% |
| Equity ratio | End of the current fiscal period 46.7% / End of previous period 51.1% |
| Total assets | ¥314,734 million |
| Net assets | ¥146,926 million |
| Cash flows from operating activities | ¥-16,889 million |
| Cash flows from investing activities | ¥-3,588 million |
| Cash flows from financing activities | ¥18,761 million |
| Cash and cash equivalents at end of period | ¥33,920 million |
| Full-year earnings forecast | Net Sales ¥400,000 million (YoY +11.8%) / Operating profit ¥20,000 million (YoY +11.8%) / Ordinary income ¥19,500 million (YoY +11.4%) / Net income ¥12,500 million (YoY +9.4%) |
| Revision to Earnings Forecast | Profit attributable to owners of the parent 10,000 → Profit attributable to owners of the parent 12,500（Profit attributable to owners of the parent 25） |
| Annual Dividend Forecast | 130 Yen (per share, vs previous fiscal year actual) → 144 Yen (per share, vs previous fiscal year actual)（+17.1%） |
| Payout ratio | 39.6% (FY2026 actual), 40.1% (FY2027 forecast) |
| Shareholder Return Policy | Dividend payout ratio of approximately 40%, progressive dividends, and an annual per-share dividend floor of ¥90 |
| Segment revenue | Building Construction ¥172,838 million (YoY +6.0%), Civil Engineering Business ¥100,736 million (YoY -0.7%), Real Estate Business ¥84,100 million (YoY +2.3%) |
| Segment profit | Building Construction ¥12,465 million (YoY +229.9%), Civil Engineering Business ¥6,514 million (YoY +10.8%), Real Estate Business ¥6,084 million (YoY -15.4%) |
| Orders received and order backlog | Orders received: ¥436,098 million (up 11.4% year on year); order backlog: Not disclosed |
| Depreciation and amortization | ¥2,287 million |
| Breakdown of extraordinary income (loss) | Extraordinary income Gain on sale of non-current assets ¥18 million, Gain on sale of investment securities ¥237 million, Other ¥5 million / Extraordinary loss Loss on sale of fixed assets ¥0 million, Loss on Disposal of Fixed Assets ¥39 million |
| Disclosure regarding the going concern assumption | No applicable matters (There are no applicable matters.) |
| 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 | Added: 0 companies; excluded: 0 companies |
| Material subsequent events | No applicable matters. |
| Availability of Supplementary Financial Results Materials | Yes |
| Availability of Financial Results Briefing | Yes (for analysts) |
| Issued Shares at Period-End | 34,818,578 |
| Treasury Shares at Period-End | 111 |
| Factors Behind Changes in Business Performance | Public-sector construction investment remained firm, while private-sector construction investment was supported by companies’ willingness to invest in facilities, resulting in a solid order environment. Both orders received and net sales reached record highs, and segment profit increased in the building construction and civil engineering businesses. |
Items this document does not state (2)
Regional salesImpairment loss
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.Public-sector construction investment remained firm, while private-sector construction investment was supported by companies’ willingness to invest in facilities, resulting in a solid order environment. The forecast for the next fiscal year does not incorporate the impact of higher crude oil prices resulting from rising tensions in the Middle East, as the outlook remains uncertain.
How to read this page
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