Worth reading
57In 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
-54.7
Year-on-year change in operating profit (%)Wording
Conditional
How definitive the wording is.Results for this period
Interim period (second quarter)1 April 2026–30 September 2026ConsolidatedJapanese GAAPNet Sales33,121million yenYear on year -8.3%Progress 44.2%
Operating profit1,732million yenYear on year -54.7%Progress 43.3%
Ordinary income1,858million yenYear on year -51.6%Progress 41.3%
Net income attributable to owners of the parent1,171million yenYear on year -56.4%
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¥9.10
Financial position at period-end
Total assets81,311million yen
of which net assets 53,331 million yenEquity ratio 65.5%vs. prior year-end +1.3pt
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.
Segment revenueConstruction 29,691 million yen (YoY -0.5%), Steel structures business 2,113 million yen (YoY -54.7%), Port operations business 1,199 million yen (YoY -20.2%), Other 116 million yen (YoY -10.0%)
Segment profitConstruction 2,008 million yen (YoY -43.9%), Steel structures business -138 million yen, Port operations business -182 million yen, Other 42 million yen (YoY +138.9%)
Outlook and shareholder returns
Full-year earnings forecast
Net Sales75,000 million yen (YoY +8.9%)
Operating profit4,000 million yen (YoY -25.0%)
Ordinary income4,500 million yen (YoY -18.8%)
Profit attributable to owners of the parent2,750 million yen (YoY -18.7%)
Revision to Earnings ForecastNo
Annual Dividend Forecast14.5 yen → 16 yen
Shareholder Return PolicyMaintain a total payout ratio of approximately 70%; target a DOE of 4.0% for fiscal 2028.
Factors Behind Changes in Business Performance
Orders in the construction and port businesses declined as a result of selective order acceptance. In the construction business, the decline reflected the absence of the previous fiscal year's concentration of profit recognition from design changes. The completion of high-margin projects in the steel structures business and large-scale projects in the port business in the previous fiscal year also weighed on profit.
Disclosure regarding the going concern assumption
Not applicable.
Change in accounting policy
基準改正に伴う変更 Noneそれ以外の変更 None見積りの変更 None修正再表示 None
Changes in the scope of consolidationNew Number of companies 1 / Company name 冠和精密預鑄材料股份有限公司 (GuanHo Precision Precast Co., Ltd.) / Excluded Number of companies 0 / Company name Not disclosed
Material subsequent eventsNot applicable.
Breakdown of extraordinary income (loss)Extraordinary income Gain on sale of non-current assets 88 million yen / Extraordinary loss Compensation paid 9 million yen
Orders received and order backlogOrders received 21,770 million yen / Order backlog 105,334 million yen
Availability of Supplementary Financial Results MaterialsNone
Availability of Financial Results BriefingWhether applicable Yes / Subject person For institutional investors and analysts
Issued Shares at Period-End138,809,400 shares
Treasury Shares at Period-End9,950,381 shares
| Item | Details |
|---|---|
| Fiscal Period Classification | Interim period (second quarter) |
| Accounting standards | Japanese GAAP |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 April 2026–30 September 2026 |
| Net Sales | 33,121 million yen (YoY -8.3%) |
| Operating profit | 1,732 million yen (YoY -54.7%) |
| Ordinary income | 1,858 million yen (YoY -51.6%) |
| Profit attributable to owners of the parent | 1,171 million yen (YoY -56.4%) |
| Net income per share | ¥9.10 |
| Equity ratio | End of the current fiscal period 65.5% / End of previous period 64.2% |
| Total assets | 81,311 million yen |
| Net assets | 53,331 million yen |
| Full-year earnings forecast | Net Sales 75,000 million yen (YoY +8.9%) / Operating profit 4,000 million yen (YoY -25.0%) / Ordinary income 4,500 million yen (YoY -18.8%) / Profit attributable to owners of the parent 2,750 million yen (YoY -18.7%) |
| Revision to Earnings Forecast | No |
| Annual Dividend Forecast | 14.5 yen → 16 yen |
| Shareholder Return Policy | Maintain a total payout ratio of approximately 70%; target a DOE of 4.0% for fiscal 2028. |
| Segment revenue | Construction 29,691 million yen (YoY -0.5%), Steel structures business 2,113 million yen (YoY -54.7%), Port operations business 1,199 million yen (YoY -20.2%), Other 116 million yen (YoY -10.0%) |
| Segment profit | Construction 2,008 million yen (YoY -43.9%), Steel structures business -138 million yen, Port operations business -182 million yen, Other 42 million yen (YoY +138.9%) |
| Orders received and order backlog | Orders received 21,770 million yen / Order backlog 105,334 million yen |
| Breakdown of extraordinary income (loss) | Extraordinary income Gain on sale of non-current assets 88 million yen / Extraordinary loss Compensation paid 9 million yen |
| Disclosure regarding the going concern assumption | Not applicable. |
| Change in accounting policy | Changes due to revisions to standards None / Other changes None / Change in accounting estimate None / Restatement None |
| Changes in the scope of consolidation | New Number of companies 1 / Company name 冠和精密預鑄材料股份有限公司 (GuanHo Precision Precast Co., Ltd.) / Excluded Number of companies 0 / Company name Not disclosed |
| Material subsequent events | Not applicable. |
| Availability of Supplementary Financial Results Materials | None |
| Availability of Financial Results Briefing | Whether applicable Yes / Subject person For institutional investors and analysts |
| Issued Shares at Period-End | 138,809,400 shares |
| Treasury Shares at Period-End | 9,950,381 shares |
| Factors Behind Changes in Business Performance | Orders in the construction and port businesses declined as a result of selective order acceptance. In the construction business, the decline reflected the absence of the previous fiscal year's concentration of profit recognition from design changes. The completion of high-margin projects in the steel structures business and large-scale projects in the port business in the previous fiscal year also weighed on profit. |
Items this document does not state (9)
Operating MarginCash flows from operating activitiesCash flows from investing activitiesCash flows from financing activitiesCash and cash equivalents at end of periodPayout ratioRegional salesDepreciation and amortizationImpairment 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.Orders declined in the construction and port businesses, where the company pursued selective order acceptance after recording orders at a record-high level in the previous fiscal year and taking its backlog of construction work into account. Profit declined in the construction business as the previous fiscal year's concentration of profit recognition from design changes was not repeated, and was also affected by the completion of high-margin projects from the previous fiscal year and large-scale projects.
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