Worth reading
64In 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
58.5
% (year-on-year change in operating income)Wording
Conditional
How definitive the wording is.Results for this period
Full year1 April 2025–31 March 2026ConsolidatedJapanese GAAPNet Sales3,067,275¥ millionYear on year +5.3%Progress 105.8%
Operating profit240,780¥ millionYear on year +58.5%Progress 120.4%
Ordinary income240,420¥ millionYear on year +49.6%Progress 116.7%
Net income attributable to owners of the parent177,334¥ millionYear on year +40.9%Progress 104.3%
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¥379.81
Operating Margin7.8％
Financial position at period-end
Total assets3,624,341¥ million
of which net assets 1,436,220 ¥ millionEquity ratio 39.0%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+114,606
Investment-46,513
Financials-30,526
Net change+37,567
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¥392,273 million
Segment revenue
Civil Engineering Business4,30713.4%+6.6%
Building Construction11,82936.8%+12.3%
Development business and other9643.0%-5.8%
Domestic affiliates4,14612.9%+16.9%
Overseas Affiliates10,91933.9%-2.0%
Segment profit
Civil Engineering Business76732.0%+114.9%
Building Construction83234.7%+62.6%
Development business and other1767.3%-36.8%
Domestic affiliates35714.9%+118.1%
Overseas Affiliates26611.1%+32.8%
Outlook and shareholder returns
Full-year earnings forecast
Net Sales¥2,900,000 million (YoY -5.5%)
Operating profit¥200,000 million (YoY -16.9%)
Ordinary income¥206,000 million (YoY -14.3%)
Net income¥170,000 million (YoY -4.1%)
Annual Dividend Forecast¥146 → ¥146（0.0%）
Payout ratio40.0％
Shareholder Return PolicyThe company will target a payout ratio of 40% and pursue flexible shareholder returns, including share buybacks.
Factors Behind Changes in Business Performance
The main factors behind the improvement in results were increased revenue from the construction business and an improved gross profit margin. Progress on large-scale construction projects, cost reductions, additional change-order contracts and risk management during construction contributed to improved profitability.
Disclosure regarding the going concern assumption
Not applicable.
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 5 / Company name 3 consolidated subsidiaries of Kajima USA Inc. and 2 other companies / Excluded Number of companies 1 / Company name Silent partnership operated by 合同会社桜島開発
Material subsequent eventsAt a Board of Directors meeting held on 14 May 2026, the company resolved to acquire treasury shares, up to a maximum of 9 million shares and ¥40 billion in aggregate.
Impairment loss¥655 million
Breakdown of extraordinary income (loss)Extraordinary income Item Gain on sale of non-current assets / Amount ¥2,152 million, Item Gain on sale of investment securities / Amount ¥15,274 million, Item Gain on valuation of investment securities / Amount ¥81 million / Extraordinary loss Item Loss on sale of fixed assets / Amount ¥140 million, Item Loss on Disposal of Fixed Assets / Amount ¥798 million, Item Loss on sale of investment securities / Amount ¥19 million, Item Impairment Loss on Investment Securities / Amount ¥720 million, Item Impairment Losses / Amount ¥655 million, Item Litigation Settlement / Amount ¥203 million
Depreciation and amortization¥33,472 million
Orders received and order backlogOrders received in the construction business 32,639 Hundreds of millions of yen / Orders received, including development and other businesses 22,753 Hundreds of millions of yen / Order backlog Not disclosed
Availability of Supplementary Financial Results MaterialsYes
Availability of Financial Results BriefingAvailable (for institutional investors and analysts)
Issued Shares at Period-End528,656,011 Shares
Treasury Shares at Period-End62,712,949 Shares
| 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 | ¥3,067,275 million (YoY +5.3%) |
| Operating profit | ¥240,780 million (YoY +58.5%) |
| Ordinary income | ¥240,420 million (YoY +49.6%) |
| Profit attributable to owners of the parent | ¥177,334 million (YoY +40.9%) |
| Net income per share | ¥379.81 |
| Operating Margin | 7.8％ |
| Equity ratio | End of the current fiscal period 39.0％ / End of previous period 36.4％ |
| Total assets | ¥3,624,341 million |
| Net assets | ¥1,436,220 million |
| Cash flows from operating activities | ¥114,606 million |
| Cash flows from investing activities | ¥-46,513 million |
| Cash flows from financing activities | ¥-30,526 million |
| Cash and cash equivalents at end of period | ¥392,273 million |
| Full-year earnings forecast | Net Sales ¥2,900,000 million (YoY -5.5%) / Operating profit ¥200,000 million (YoY -16.9%) / Ordinary income ¥206,000 million (YoY -14.3%) / Net income ¥170,000 million (YoY -4.1%) |
| Annual Dividend Forecast | ¥146 → ¥146（0.0%） |
| Payout ratio | 40.0％ |
| Shareholder Return Policy | The company will target a payout ratio of 40% and pursue flexible shareholder returns, including share buybacks. |
| Segment revenue | Segment Civil Engineering Business / Net Sales 4,307 Hundreds of millions of yen / Year on year against the same period last year 6.6 Hundreds of millions of yen, Segment Building Construction / Net Sales 11,829 Hundreds of millions of yen / Year on year against the same period last year 12.3 Hundreds of millions of yen, Segment Development business and other / Net Sales 964 Hundreds of millions of yen / Year on year against the same period last year -5.8 Hundreds of millions of yen, Segment Domestic affiliates / Net Sales 4,146 Hundreds of millions of yen / Year on year against the same period last year 16.9 Hundreds of millions of yen, Segment Overseas Affiliates / Net Sales 10,919 Hundreds of millions of yen / Year on year against the same period last year -2 Hundreds of millions of yen |
| Segment profit | Segment Civil Engineering Business / Segment profit 767 Hundreds of millions of yen / Year on year against the same period last year 114.9 Hundreds of millions of yen, Segment Building Construction / Segment profit 832 Hundreds of millions of yen / Year on year against the same period last year 62.6 Hundreds of millions of yen, Segment Development business and other / Segment profit 176 Hundreds of millions of yen / Year on year against the same period last year -36.8 Hundreds of millions of yen, Segment Domestic affiliates / Segment profit 357 Hundreds of millions of yen / Year on year against the same period last year 118.1 Hundreds of millions of yen, Segment Overseas Affiliates / Segment profit 266 Hundreds of millions of yen / Year on year against the same period last year 32.8 Hundreds of millions of yen |
| Orders received and order backlog | Orders received in the construction business 32,639 Hundreds of millions of yen / Orders received, including development and other businesses 22,753 Hundreds of millions of yen / Order backlog Not disclosed |
| Depreciation and amortization | ¥33,472 million |
| Impairment loss | ¥655 million |
| Breakdown of extraordinary income (loss) | Extraordinary income Item Gain on sale of non-current assets / Amount ¥2,152 million, Item Gain on sale of investment securities / Amount ¥15,274 million, Item Gain on valuation of investment securities / Amount ¥81 million / Extraordinary loss Item Loss on sale of fixed assets / Amount ¥140 million, Item Loss on Disposal of Fixed Assets / Amount ¥798 million, Item Loss on sale of investment securities / Amount ¥19 million, Item Impairment Loss on Investment Securities / Amount ¥720 million, Item Impairment Losses / Amount ¥655 million, Item Litigation Settlement / Amount ¥203 million |
| Disclosure regarding the going concern assumption | Not applicable. |
| 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 5 / Company name 3 consolidated subsidiaries of Kajima USA Inc. and 2 other companies / Excluded Number of companies 1 / Company name Silent partnership operated by 合同会社桜島開発 |
| Material subsequent events | At a Board of Directors meeting held on 14 May 2026, the company resolved to acquire treasury shares, up to a maximum of 9 million shares and ¥40 billion in aggregate. |
| Availability of Supplementary Financial Results Materials | Yes |
| Availability of Financial Results Briefing | Available (for institutional investors and analysts) |
| Issued Shares at Period-End | 528,656,011 Shares |
| Treasury Shares at Period-End | 62,712,949 Shares |
| Factors Behind Changes in Business Performance | The main factors behind the improvement in results were increased revenue from the construction business and an improved gross profit margin. Progress on large-scale construction projects, cost reductions, additional change-order contracts and risk management during construction contributed to improved profitability. |
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.The increase in operating profit was primarily attributable to an improvement in the gross profit margin of the construction business. The company explained that progress on large-scale construction projects, cost reductions, additional change-order contracts and risk management during construction contributed to improved profitability.
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