Worth reading
55In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Improvement
Direction inferred from the company’s description.Scale
160.9
Year-on-year change in operating income (%)Wording
Conditional
How definitive the wording is.Results for this period
Interim period (second quarter)1 April 2026 to 30 September 2026ConsolidatedJapanese GAAPNet Sales72,355¥ millionYear on year +11.0%Progress 46.1%
Operating profit2,335¥ millionYear on year +160.9%Progress 34.3%
Ordinary income2,029¥ millionYear on year +91.3%Progress 25.4%
Net income attributable to owners of the parent974¥ million
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¥11.41
Financial position at period-end
Total assets153,813¥ million
of which net assets 70,845 ¥ millionEquity ratio 44.9%vs. prior year-end -3.5pt
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-2,988
Investment-2,328
Financials-1,309
Net change-6,625
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¥18,115 million
Segment revenue
Civil Engineering Business35,09348.5%
Construction Business35,51649.1%
Other businesses1,7442.4%
Segment profit
Civil Engineering Business-287
Construction Business2,424
Other businesses192
Regional sales
Domestic67,45193.2%
Overseas4,9036.8%
Outlook and shareholder returns
Full-year earnings forecast
Net Sales¥157,000 million (YoY +12.3%)
Operating profit¥6,800 million
Ordinary income¥8,000 million (YoY +9.1%)
Profit attributable to owners of the parent¥4,700 million (YoY +3.1%)
Revision to Earnings ForecastNone
Annual Dividend Forecast34 yen → 38 yen
Factors Behind Changes in Business Performance
Public investment remained firm, while signs of a recovery also emerged in private investment, and net sales and gross profit increased as a result of operating activities. Construction material and labor costs continued to rise, and the shortage of construction workers persisted; the company recorded a ¥289 million valuation loss on investment securities.
Disclosure regarding the going concern assumption
No applicable items.
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 consolidation0 additions, 0 exclusions (no material changes)
Impairment loss¥0 million (assets subject to impairment: none)
Breakdown of extraordinary income (loss)Extraordinary income Gain on sale of non-current assets ¥19 million, Other ¥3 million / Extraordinary loss Loss on disposal and sale of property, plant and equipment ¥23 million, Litigation-Related Losses ¥1 million, Loss on valuation of investment securities ¥289 million, Impairment loss ¥0 million / Total extraordinary income ¥22 million / Total extraordinary losses ¥314 million
Depreciation and amortization¥411 million
Orders received and order backlogOrders received Non-consolidated ¥45,335 million, Consolidated ¥61,528 million / Order backlog Not disclosed
Availability of Supplementary Financial Results MaterialsNone
Availability of Financial Results BriefingYes (for analysts and institutional investors)
Issued Shares at Period-End86,015,815
Treasury Shares at Period-End1,629,645
| Item | Details |
|---|---|
| Fiscal Period Classification | Interim period (second quarter) |
| Accounting standards | Japanese GAAP |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 April 2026 to 30 September 2026 |
| Net Sales | ¥72,355 million (YoY +11.0%) |
| Operating profit | ¥2,335 million (YoY +160.9%) |
| Ordinary income | ¥2,029 million (YoY +91.3%) |
| Profit attributable to owners of the parent | ¥974 million |
| Net income per share | ¥11.41 |
| Equity ratio | End of the current fiscal period 44.9 / End of previous period 48.4 |
| Total assets | ¥153,813 million |
| Net assets | ¥70,845 million |
| Cash flows from operating activities | ¥-2,988 million |
| Cash flows from investing activities | ¥-2,328 million |
| Cash flows from financing activities | ¥-1,309 million |
| Cash and cash equivalents at end of period | ¥18,115 million |
| Full-year earnings forecast | Net Sales ¥157,000 million (YoY +12.3%) / Operating profit ¥6,800 million / Ordinary income ¥8,000 million (YoY +9.1%) / Profit attributable to owners of the parent ¥4,700 million (YoY +3.1%) |
| Revision to Earnings Forecast | None |
| Annual Dividend Forecast | 34 yen → 38 yen |
| Segment revenue | Segment Civil Engineering Business / Net Sales ¥35,093 million / Year on year against the same period last year Not disclosed, Segment Construction Business / Net Sales ¥35,516 million / Year on year against the same period last year Not disclosed, Segment Other businesses / Net Sales ¥1,744 million / Year on year against the same period last year Not disclosed |
| Segment profit | Segment Civil Engineering Business / Segment profit ¥-287 million / Year on year against the same period last year Not disclosed, Segment Construction Business / Segment profit ¥2,424 million / Year on year against the same period last year Not disclosed, Segment Other businesses / Segment profit ¥192 million / Year on year against the same period last year Not disclosed |
| Regional sales | Region Domestic / Net Sales ¥67,451 million, Region Overseas / Net Sales ¥4,903 million |
| Orders received and order backlog | Orders received Non-consolidated ¥45,335 million, Consolidated ¥61,528 million / Order backlog Not disclosed |
| Depreciation and amortization | ¥411 million |
| Impairment loss | ¥0 million (assets subject to impairment: none) |
| Breakdown of extraordinary income (loss) | Extraordinary income Gain on sale of non-current assets ¥19 million, Other ¥3 million / Extraordinary loss Loss on disposal and sale of property, plant and equipment ¥23 million, Litigation-Related Losses ¥1 million, Loss on valuation of investment securities ¥289 million, Impairment loss ¥0 million / Total extraordinary income ¥22 million / Total extraordinary losses ¥314 million |
| Disclosure regarding the going concern assumption | No applicable items. |
| 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 | 0 additions, 0 exclusions (no material changes) |
| Availability of Supplementary Financial Results Materials | None |
| Availability of Financial Results Briefing | Yes (for analysts and institutional investors) |
| Issued Shares at Period-End | 86,015,815 |
| Treasury Shares at Period-End | 1,629,645 |
| Factors Behind Changes in Business Performance | Public investment remained firm, while signs of a recovery also emerged in private investment, and net sales and gross profit increased as a result of operating activities. Construction material and labor costs continued to rise, and the shortage of construction workers persisted; the company recorded a ¥289 million valuation loss on investment securities. |
Items this document does not state (4)
Operating MarginPayout ratioShareholder Return PolicyMaterial subsequent events
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.Public investment remained firm, supported by the government's national resilience measures and other initiatives, while signs of a recovery also emerged in private investment. Net sales and gross profit increased as a result of operating activities. Construction material and labor costs continued to rise, and the shortage of construction workers persisted; the company also recorded a ¥289 million valuation loss on unlisted shares.
How to read this page
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