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
32.8
Year-on-year change in operating profit (%)Wording
Conditional
How definitive the wording is.Results for this period
Full year1 April 2025–31 March 2026ConsolidatedJapanese GAAPNet Sales396,030¥ millionYear on year +8.0%Progress 90.0%
Operating profit28,029¥ millionYear on year +32.8%Progress 98.3%
Ordinary income27,384¥ millionYear on year +35.4%Progress 103.3%
Net income attributable to owners of the parent24,066¥ millionYear on year +37.2%Progress 117.4%
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¥609.56
Operating MarginCurrent fiscal year 7.1 % / Previous period 5.8 %
Financial position at period-end
Total assets686,012¥ million
of which net assets 204,420 ¥ millionEquity ratio 28.4%vs. prior year-end -0.7pt
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.
Cash inflows and outflows
Operating+3,045
Investment-7,458
Financials+7,982
Net change+3,569
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¥48,266 million
Segment revenueCivil Engineering Business ¥121,904 million (YoY +12.9%), Building Construction ¥216,739 million (YoY +12.1%), International Business ¥36,290 million (YoY -22.0%), Asset Value-Add Business ¥25,487 million (YoY -5.9%), Regional environmental solutions business ¥748 million (YoY +40.0%)
Segment profitCivil Engineering Business ¥9,120 million (YoY +3.2%), Building Construction ¥13,790 million (YoY +114.7%), International Business ¥-2,363 million, Asset Value-Add Business ¥7,730 million (YoY +3.4%), Regional environmental solutions business ¥-805 million
Outlook and shareholder returns
Full-year earnings forecast
Net Sales¥440,000 million (YoY +11.1%)
Operating profit¥28,500 million (YoY +1.7%)
Ordinary income¥26,500 million (YoY -3.2%)
Net income¥20,500 million (YoY -14.8%)
Annual Dividend Forecast¥230 → ¥250（+8.7%）
Payout ratio37.7
Shareholder Return PolicyStable dividends at approximately 5% dividend-on-equity (DOE)
Factors Behind Changes in Business Performance
Growth in domestic civil engineering and domestic building construction, higher gross profit on completed domestic building construction projects, progress on the earnings improvement plan, and the acquisition of design changes on large-scale projects. In the international business, delays in the start of construction, timing shifts and losses of orders, and a decline in expected acquisitions of design changes occurred.
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 扇コンサルタンツ株式会社 / Excluded Number of companies 1 / Company name Hanoi PH Investment Pte. Ltd.
Material subsequent eventsNo applicable matters.
Impairment loss¥1,612 million
Breakdown of extraordinary income (loss)Extraordinary income Gain on sale of non-current assets ¥14 million, Gain on sale of investment securities ¥8,338 million, Settlement proceeds received ¥500 million, Other ¥5 million / Extraordinary loss Loss on sale of fixed assets ¥25 million, Loss on Disposal of Fixed Assets ¥67 million, Impairment Losses ¥1,612 million, Loss on development business ¥246 million, Impairment Loss on Investment Securities ¥102 million, Other ¥202 million
Depreciation and amortization¥5,058 million
Orders received and order backlogOrders received ¥381,014 million (YoY -11.3%) / Order backlog Not disclosed
Availability of Supplementary Financial Results MaterialsYes
Availability of Financial Results BriefingWhether applicable Yes / Subject person Institutional investors and analysts
Issued Shares at Period-End41,791,502
Treasury Shares at Period-End2,307,072
| 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 | ¥396,030 million (YoY +8.0%) |
| Operating profit | ¥28,029 million (YoY +32.8%) |
| Ordinary income | ¥27,384 million (YoY +35.4%) |
| Profit attributable to owners of the parent | ¥24,066 million (YoY +37.2%) |
| Net income per share | ¥609.56 |
| Operating Margin | Current fiscal year 7.1 % / Previous period 5.8 % |
| Equity ratio | End of the current fiscal period 28.4 / End of previous period 29.1 |
| Total assets | ¥686,012 million |
| Net assets | ¥204,420 million |
| Cash flows from operating activities | ¥3,045 million |
| Cash flows from investing activities | ¥-7,458 million |
| Cash flows from financing activities | ¥7,982 million |
| Cash and cash equivalents at end of period | ¥48,266 million |
| Full-year earnings forecast | Net Sales ¥440,000 million (YoY +11.1%) / Operating profit ¥28,500 million (YoY +1.7%) / Ordinary income ¥26,500 million (YoY -3.2%) / Net income ¥20,500 million (YoY -14.8%) |
| Annual Dividend Forecast | ¥230 → ¥250（+8.7%） |
| Payout ratio | 37.7 |
| Shareholder Return Policy | Stable dividends at approximately 5% dividend-on-equity (DOE) |
| Segment revenue | Civil Engineering Business ¥121,904 million (YoY +12.9%), Building Construction ¥216,739 million (YoY +12.1%), International Business ¥36,290 million (YoY -22.0%), Asset Value-Add Business ¥25,487 million (YoY -5.9%), Regional environmental solutions business ¥748 million (YoY +40.0%) |
| Segment profit | Civil Engineering Business ¥9,120 million (YoY +3.2%), Building Construction ¥13,790 million (YoY +114.7%), International Business ¥-2,363 million, Asset Value-Add Business ¥7,730 million (YoY +3.4%), Regional environmental solutions business ¥-805 million |
| Orders received and order backlog | Orders received ¥381,014 million (YoY -11.3%) / Order backlog Not disclosed |
| Depreciation and amortization | ¥5,058 million |
| Impairment loss | ¥1,612 million |
| Breakdown of extraordinary income (loss) | Extraordinary income Gain on sale of non-current assets ¥14 million, Gain on sale of investment securities ¥8,338 million, Settlement proceeds received ¥500 million, Other ¥5 million / Extraordinary loss Loss on sale of fixed assets ¥25 million, Loss on Disposal of Fixed Assets ¥67 million, Impairment Losses ¥1,612 million, Loss on development business ¥246 million, Impairment Loss on Investment Securities ¥102 million, Other ¥202 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 扇コンサルタンツ株式会社 / Excluded Number of companies 1 / Company name Hanoi PH Investment Pte. Ltd. |
| Material subsequent events | No applicable matters. |
| Availability of Supplementary Financial Results Materials | Yes |
| Availability of Financial Results Briefing | Whether applicable Yes / Subject person Institutional investors and analysts |
| Issued Shares at Period-End | 41,791,502 |
| Treasury Shares at Period-End | 2,307,072 |
| Factors Behind Changes in Business Performance | Growth in domestic civil engineering and domestic building construction, higher gross profit on completed domestic building construction projects, progress on the earnings improvement plan, and the acquisition of design changes on large-scale projects. In the international business, delays in the start of construction, timing shifts and losses of orders, and a decline in expected acquisitions of design changes occurred. |
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.Revenue increased due to growth in domestic civil engineering and domestic building construction. Higher gross profit on completed domestic building construction projects drove operating profit higher. In the building construction business, progress on the earnings improvement plan and the acquisition of design changes on large-scale projects also contributed. In the international business, however, delays in the start of construction, timing shifts and losses of orders resulted in lower revenue and wider losses.
How to read this page
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