Worth reading
48Recurring
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
-8.9
% (year-on-year change in net sales)Wording
Conditional
How definitive the wording is.Results for this period
First quarter1 April 2026–30 June 2026ConsolidatedJapanese GAAPNet Sales40,429million yenYear on year -8.9%Progress 21.9%
Operating profit1,358million yenYear on year -20.7%Progress 20.6%
Ordinary income1,577million yenYear on year -20.5%Progress 27.7%
Net income attributable to owners of the parent1,926million yenYear on year +49.9%Progress 30.6%
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¥138.32
Financial position at period-end
Total assets235,145million yen
of which net assets 76,251 million yenEquity ratio 32.3%vs. prior year-end +1.7pt
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 revenueCivil engineering work Current fiscal year 21,250 / Prior-year period 21,756 / Year-on-year (%) -2.3 / Construction work Current fiscal year 17,541 / Prior-year period 20,466 / Year-on-year (%) -14.3 / Real Estate Business Current fiscal year 1,461 / Prior-year period 2,034 / Year-on-year (%) -28.2 / Related businesses Current fiscal year 66 / Prior-year period 32 / Year-on-year (%) 106.3
Segment profitCivil engineering work Current fiscal year 676 / Prior-year period 1,036 / Year-on-year (%) -34.7 / Construction work Current fiscal year 267 / Prior-year period 141 / Year-on-year (%) 89.4 / Real Estate Business Current fiscal year 257 / Prior-year period 444 / Year-on-year (%) -42.1 / Related businesses Current fiscal year 50 / Prior-year period 13 / Year-on-year (%) 284.6
Outlook and shareholder returns
Full-year earnings forecast
Net Sales185,000 million yen (YoY +2.9%)
Operating profit6,600 million yen (YoY +17.4%)
Ordinary income5,700 million yen (YoY -3.0%)
Net income6,300 million yen (YoY +25.3%)
Revision to Earnings ForecastNo
Annual Dividend Forecast170 yen → 115 yen
Factors Behind Changes in Business Performance
Net sales decreased mainly due to the反動 from the completion and handover of a large building construction project in the same period of the previous year. Operating income and ordinary income decreased despite progress in improving the profitability of building construction, mainly due to the反動 from the recognition of profits from overseas civil engineering projects in the same period of the previous year. Net income attributable to owners of the parent increased due to the recognition of gains on the sale of property, plant and equipment and investment securities, among other factors.
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 consolidationNo material changes (no newly included or excluded companies disclosed)
Material subsequent eventsA resolution was passed for a 2-for-1 stock split of common shares, effective 1 October 2026, and a partial amendment to the articles of incorporation in connection with the stock split.
Breakdown of extraordinary income (loss)Extraordinary income Gain on sale of non-current assets 840 million yen, Gain on sale of investment securities 494 million yen / Extraordinary loss Loss on sale of fixed assets 8 million yen, Provision for allowance for doubtful accounts 1 million yen
Depreciation and amortization266 million yen
Orders received and order backlogOrders received 42,027 million yen / Order backlog Not disclosed
Availability of Supplementary Financial Results MaterialsYes
Availability of Financial Results BriefingNo (no eligible attendees)
Issued Shares at Period-End14,973,956 shares
Treasury Shares at Period-End1,043,054 shares
| Item | Details |
|---|---|
| Fiscal Period Classification | First quarter |
| Accounting standards | Japanese GAAP |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 April 2026–30 June 2026 |
| Net Sales | 40,429 million yen (YoY -8.9%) |
| Operating profit | 1,358 million yen (YoY -20.7%) |
| Ordinary income | 1,577 million yen (YoY -20.5%) |
| Profit attributable to owners of the parent | 1,926 million yen (YoY +49.9%) |
| Net income per share | ¥138.32 |
| Equity ratio | End of the current fiscal period 32.3 / End of previous period 30.6 |
| Total assets | 235,145 million yen |
| Net assets | 76,251 million yen |
| Full-year earnings forecast | Net Sales 185,000 million yen (YoY +2.9%) / Operating profit 6,600 million yen (YoY +17.4%) / Ordinary income 5,700 million yen (YoY -3.0%) / Net income 6,300 million yen (YoY +25.3%) |
| Revision to Earnings Forecast | No |
| Annual Dividend Forecast | 170 yen → 115 yen |
| Segment revenue | Civil engineering work Current fiscal year 21,250 / Prior-year period 21,756 / Year-on-year (%) -2.3 / Construction work Current fiscal year 17,541 / Prior-year period 20,466 / Year-on-year (%) -14.3 / Real Estate Business Current fiscal year 1,461 / Prior-year period 2,034 / Year-on-year (%) -28.2 / Related businesses Current fiscal year 66 / Prior-year period 32 / Year-on-year (%) 106.3 |
| Segment profit | Civil engineering work Current fiscal year 676 / Prior-year period 1,036 / Year-on-year (%) -34.7 / Construction work Current fiscal year 267 / Prior-year period 141 / Year-on-year (%) 89.4 / Real Estate Business Current fiscal year 257 / Prior-year period 444 / Year-on-year (%) -42.1 / Related businesses Current fiscal year 50 / Prior-year period 13 / Year-on-year (%) 284.6 |
| Orders received and order backlog | Orders received 42,027 million yen / Order backlog Not disclosed |
| Depreciation and amortization | 266 million yen |
| Breakdown of extraordinary income (loss) | Extraordinary income Gain on sale of non-current assets 840 million yen, Gain on sale of investment securities 494 million yen / Extraordinary loss Loss on sale of fixed assets 8 million yen, Provision for allowance for doubtful accounts 1 million yen |
| 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 | No material changes (no newly included or excluded companies disclosed) |
| Material subsequent events | A resolution was passed for a 2-for-1 stock split of common shares, effective 1 October 2026, and a partial amendment to the articles of incorporation in connection with the stock split. |
| Availability of Supplementary Financial Results Materials | Yes |
| Availability of Financial Results Briefing | No (no eligible attendees) |
| Issued Shares at Period-End | 14,973,956 shares |
| Treasury Shares at Period-End | 1,043,054 shares |
| Factors Behind Changes in Business Performance | Net sales decreased mainly due to the反動 from the completion and handover of a large building construction project in the same period of the previous year. Operating income and ordinary income decreased despite progress in improving the profitability of building construction, mainly due to the反動 from the recognition of profits from overseas civil engineering projects in the same period of the previous year. Net income attributable to owners of the parent increased due to the recognition of gains on the sale of property, plant and equipment and investment securities, among other factors. |
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 ratioShareholder Return PolicyRegional 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.Net sales decreased mainly due to the反動 from the completion and handover of a large building construction project in the same period of the previous year. Operating income and ordinary income decreased despite progress in improving the profitability of building construction, mainly due to the反動 from the recognition of profits from overseas civil engineering projects in the same period of the previous year. Net income attributable to owners of the parent increased mainly because gains on the sale of property, plant and equipment and investment securities were recorded as extraordinary gains.
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