Worth reading
55In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Mixed performance
Direction inferred from the company’s description.Scale
6.7
Year-on-year change in revenue (%)Wording
Avoiding a definitive answer
How definitive the wording is.Results for this period
Full year1 April 2025–31 March 2026ConsolidatedJapanese GAAPNet Sales68,866¥ millionYear on year +6.7%Progress 91.8%
Operating profit5,334¥ millionYear on year -1.8%Progress 133.4%
Ordinary income5,539¥ millionYear on year -0.3%Progress 123.1%
Net income attributable to owners of the parent3,381¥ millionYear on year -9.7%
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¥26.18
Operating Margin7.7%
Financial position at period-end
Total assets82,772¥ million
of which net assets 53,191 ¥ millionEquity ratio 64.2%vs. prior year-end -2.6pt
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-132
Investment-2,863
Financials-1,478
Net change-4,473
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¥15,403 million
Segment revenue
Construction56,82882.8%+5.3%
Steel structures business7,86111.5%+7.2%
Port operations business3,9355.7%+31.3%
Segment profit
Construction4,72589.6%-5.7%
Steel structures business3075.8%+13.5%
Port operations business2414.6%+306.9%
Outlook and shareholder returns
Full-year earnings forecast
Net Sales¥75,000 million (YoY +8.9%)
Operating profit¥4,000 million (YoY -25.0%)
Ordinary income¥4,500 million (YoY -18.8%)
Profit attributable to owners of the parent¥2,750 million (YoY -18.7%)
Annual Dividend Forecast¥14.5 → ¥14.5（0.0%）
Payout ratio55.4% (68.1% forecast for the next fiscal year)
Shareholder Return PolicyMaintain a total payout ratio of approximately 70% and target DOE of 4.0% for fiscal 2029
Factors Behind Changes in Business Performance
Orders received increased substantially in the construction business, and revenue increased in each segment. Operating income decreased due to amortization of goodwill arising from business combinations and higher miscellaneous expenses.
Disclosure regarding the going concern assumption
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 consolidationNew Number of companies 1 / Company name 株式会社デンカリノテック / Excluded Number of companies 2 / Company name 株式会社菊政, 株式会社菊政工務店
Material subsequent eventsNo applicable matters.
Breakdown of extraordinary income (loss)Extraordinary income Gain on sale of non-current assets ¥10 million / Litigation Settlement ¥89 million / Extraordinary loss Loss on Disposal of Fixed Assets ¥81 million / Loss on valuation of investments ¥1 million / Compensation paid ¥774 million / Other ¥20 million
Depreciation and amortization¥1,719 million
Orders received and order backlogOrders received ¥84,320 million / Order backlog ¥116,685 million
Availability of Supplementary Financial Results MaterialsNo
Availability of Financial Results BriefingYes (for institutional investors and analysts)
Issued Shares at Period-End138,809,400
Treasury Shares at Period-End10,177,069
| 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 | ¥68,866 million (YoY +6.7%) |
| Operating profit | ¥5,334 million (YoY -1.8%) |
| Ordinary income | ¥5,539 million (YoY -0.3%) |
| Profit attributable to owners of the parent | ¥3,381 million (YoY -9.7%) |
| Net income per share | ¥26.18 |
| Operating Margin | 7.7% |
| Equity ratio | End of the current fiscal period 64.2% / End of previous period 66.8% |
| Total assets | ¥82,772 million |
| Net assets | ¥53,191 million |
| Cash flows from operating activities | ¥-132 million |
| Cash flows from investing activities | ¥-2,863 million |
| Cash flows from financing activities | ¥-1,478 million |
| Cash and cash equivalents at end of period | ¥15,403 million |
| Full-year earnings forecast | Net Sales ¥75,000 million (YoY +8.9%) / Operating profit ¥4,000 million (YoY -25.0%) / Ordinary income ¥4,500 million (YoY -18.8%) / Profit attributable to owners of the parent ¥2,750 million (YoY -18.7%) |
| Annual Dividend Forecast | ¥14.5 → ¥14.5（0.0%） |
| Payout ratio | 55.4% (68.1% forecast for the next fiscal year) |
| Shareholder Return Policy | Maintain a total payout ratio of approximately 70% and target DOE of 4.0% for fiscal 2029 |
| Segment revenue | Construction ¥56,828 million (YoY +5.3%) / Steel structures business ¥7,861 million (YoY +7.2%) / Port operations business ¥3,935 million (YoY +31.3%) |
| Segment profit | Construction ¥4,725 million (YoY -5.7%) / Steel structures business ¥307 million (YoY +13.5%) / Port operations business ¥241 million (YoY +306.9%) |
| Orders received and order backlog | Orders received ¥84,320 million / Order backlog ¥116,685 million |
| Depreciation and amortization | ¥1,719 million |
| Breakdown of extraordinary income (loss) | Extraordinary income Gain on sale of non-current assets ¥10 million / Litigation Settlement ¥89 million / Extraordinary loss Loss on Disposal of Fixed Assets ¥81 million / Loss on valuation of investments ¥1 million / Compensation paid ¥774 million / Other ¥20 million |
| Disclosure regarding the going concern assumption | 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 | New Number of companies 1 / Company name 株式会社デンカリノテック / Excluded Number of companies 2 / Company name 株式会社菊政, 株式会社菊政工務店 |
| Material subsequent events | No applicable matters. |
| Availability of Supplementary Financial Results Materials | No |
| Availability of Financial Results Briefing | Yes (for institutional investors and analysts) |
| Issued Shares at Period-End | 138,809,400 |
| Treasury Shares at Period-End | 10,177,069 |
| Factors Behind Changes in Business Performance | Orders received increased substantially in the construction business, and revenue increased in each segment. Operating income decreased due to amortization of goodwill arising from business combinations and higher miscellaneous expenses. |
Items this document does not state (3)
Revision to Earnings ForecastRegional 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.Revenue increased year on year in each segment as orders received increased as a result of order solicitation activities. Operating income decreased due to amortization of goodwill arising from business combinations and higher miscellaneous expenses. For the next fiscal year, the company cites the remanufacture and reinstallation of products that do not meet required quality standards, fluctuations in the prices of materials and equipment and energy, inflation, and labor shortages.
How to read this page
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