Worth reading
55In 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
275
¥100 million (year-on-year increase in consolidated net sales)Wording
Conditional
How definitive the wording is.Contents of this document
Financial results presentationFiscal year ending March 202612 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥138,071 million+24.9%
Operating profit¥5,375 million+63.8%
Ordinary income¥5,996 million+61.0%
Net income¥4,385 million+51.0%
Selling, general and administrative expenses¥9,070 million
Gross Profit Margin
Rate10.5%
Year-on-year change (points)+0.8pt
Operating profit margin
Rate3.9%
Year-on-year change (points)+0.9pt
Full-year earnings forecast
Orders received
1,400 Hundreds of millions of yen
Net Sales
1,500 Hundreds of millions of yen
Operating profit
39 Hundreds of millions of yen
Ordinary income
42 Hundreds of millions of yen
Profit attributable to owners of the parent
29 Hundreds of millions of yen
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Progress exceeding the final-year targetBreakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Consolidated operating profitHigher sales, an improved gross profit margin, and ¥1.5 billion in SG&A expenses
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Profit margins are expected to return approximately to ordinary levels as profitability normalizesNew initiatives
- Bringing forward some overseas business growth investments
- Promoting domestic M&A
- Expanding and accelerating DX and human resources investments
- Improving payment terms for partner companies
- Reviewing the implementation of medium-sized wind power generation projects
Key KPIsA metric the company considers important as a management benchmark.
- Orders received1,312 Hundreds of millions of yenYear on year against the same period last yearDown ¥11.6 billion year on year
- Construction contracts carried forward to the next period1,483 Hundreds of millions of yenYear on year against the same period last yearDown ¥5.2 billion year on year
- Overseas business ratio44.7 %
Segment results
Construction
Net Sales¥136,555 million (up 25.2% year on year)
Operating profit¥4,649 million (up 79.6% year on year)
Japan
Net Sales¥75,500 million (down 6.9% year on year)
Operating profit¥2,202 million (down 14.9% year on year)
Southeast Asia
Net Sales¥61,054 million (up 117.9% year on year)
Operating profit¥2,447 million (year-on-year change not stated)
Real Estate Business
Net Sales¥1,373 million (up 3.7% year on year)
Operating profit¥676 million (up 2.7% year on year)
Other Businesses
Net Sales¥148 million (up 10.5% year on year)
Operating profit¥50 million (up 62.7% year on year)
Medium-term management plan targets
Plan nameMedium-Term Plan 86
Target fiscal yearFiscal year ending March 2028
Consolidated revenue¥127.0 billion
Consolidated operating profit¥3.3 billion
Consolidated net income¥2.5 billion
Overseas business ratio35%
Comparison with actual resultsFiscal year ended March 2026 results: net sales of ¥138.0 billion, operating profit of ¥5.3 billion, net income of ¥4.3 billion, and an overseas business ratio of 44.7%
Financial targets
Equity ratioActual: 49.4% (down 3.7 percentage points from the previous fiscal year-end)
ROEActual: 9.5%
ROAActual: 4.8%
Orders received and order backlog
Orders received¥131.2 billion
Construction contracts carried forward to the next period¥148.3 billion
Number of employees
Number of Employees1,394 People
End of periodAs of 31 March 2026
Annual Dividend
Fiscal year ending March 2026¥38 (planned)
Fiscal year ending March 2027¥25 (forecast)
Payout ratio
29.8% for the fiscal year ended March 2026 and 29.6% for the fiscal year ending March 2027. The policy is to target a payout ratio of 30%, with a DOE floor of 1.5%.| Item | Details |
|---|---|
| Document type | Financial results presentation |
| Fiscal Period Covered | Fiscal year ending March 2026 |
| Net Sales | ¥138,071 million (YoY +24.9%) |
| Operating profit | ¥5,375 million (YoY +63.8%) |
| Ordinary income | ¥5,996 million (YoY +61.0%) |
| Net income | ¥4,385 million (YoY +51.0%) |
| Gross Profit Margin | Rate 10.5% / Year-on-year change (points) +0.8pt |
| Operating profit margin | Rate 3.9% / Year-on-year change (points) +0.9pt |
| Selling, general and administrative expenses | ¥9,070 million |
| Full-year earnings forecast | Orders received 1,400 Hundreds of millions of yen / Net Sales 1,500 Hundreds of millions of yen / Operating profit 39 Hundreds of millions of yen / Ordinary income 42 Hundreds of millions of yen / Profit attributable to owners of the parent 29 Hundreds of millions of yen |
| Self-assessment against the plan | Progress exceeding the final-year target |
| Segment results | Construction Net Sales ¥136,555 million (up 25.2% year on year) / Operating profit ¥4,649 million (up 79.6% year on year) / Japan Net Sales ¥75,500 million (down 6.9% year on year) / Operating profit ¥2,202 million (down 14.9% year on year) / Southeast Asia Net Sales ¥61,054 million (up 117.9% year on year) / Operating profit ¥2,447 million (year-on-year change not stated) / Real Estate Business Net Sales ¥1,373 million (up 3.7% year on year) / Operating profit ¥676 million (up 2.7% year on year) / Other Businesses Net Sales ¥148 million (up 10.5% year on year) / Operating profit ¥50 million (up 62.7% year on year) |
| Breakdown of Factors Affecting the Change | Consolidated operating profit Higher sales, an improved gross profit margin, and ¥1.5 billion in SG&A expenses |
| Key KPIs | Indicator name Orders received / Value 1,312 Hundreds of millions of yen / Year on year against the same period last year Down ¥11.6 billion year on year, Indicator name Construction contracts carried forward to the next period / Value 1,483 Hundreds of millions of yen / Year on year against the same period last year Down ¥5.2 billion year on year, Indicator name Overseas business ratio / Value 44.7 % / Year on year against the same period last year Not disclosed |
| Number of employees | Number of Employees 1,394 People / End of period As of 31 March 2026 / Changes during the period and hiring plan Not disclosed |
| Assumptions Underlying the Business Outlook | Profit margins are expected to return approximately to ordinary levels as profitability normalizes |
| Medium-term management plan targets | Plan name Medium-Term Plan 86 / Target fiscal year Fiscal year ending March 2028 / Consolidated revenue ¥127.0 billion / Consolidated operating profit ¥3.3 billion / Consolidated net income ¥2.5 billion / Overseas business ratio 35% / Comparison with actual results Fiscal year ended March 2026 results: net sales of ¥138.0 billion, operating profit of ¥5.3 billion, net income of ¥4.3 billion, and an overseas business ratio of 44.7% |
| Financial targets | Equity ratio Actual: 49.4% (down 3.7 percentage points from the previous fiscal year-end) / ROE Actual: 9.5% / ROA Actual: 4.8% |
| Annual Dividend | Fiscal year ending March 2026 ¥38 (planned) / Fiscal year ending March 2027 ¥25 (forecast) / Interim and Year-End Breakdown Not disclosed |
| Payout ratio | 29.8% for the fiscal year ended March 2026 and 29.6% for the fiscal year ending March 2027. The policy is to target a payout ratio of 30%, with a DOE floor of 1.5%. |
| Orders received and order backlog | Orders received ¥131.2 billion / Construction contracts carried forward to the next period ¥148.3 billion |
| New initiatives | Bringing forward some overseas business growth investments, Promoting domestic M&A, Expanding and accelerating DX and human resources investments, Improving payment terms for partner companies, Reviewing the implementation of medium-sized wind power generation projects |
Items this document does not state (9)
Results for the three months of the current quarterProgress against full-year forecastUnit price and quantity metricsNumber of stores and locationsRisk amount incorporated into the outlookAcquisition of treasury sharesCapital expendituresMarket Size / ShareKey points of the Q&A
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.During the fiscal year, the overseas construction business had a substantial backlog carried over from the previous fiscal year, while additional work orders for certain projects improved profitability, contributing to sales and profit. General and administrative expenses increased due to investments in human capital and other factors, but this was offset by higher sales and an improvement in the gross profit margin. For the next fiscal year, profit margins are expected to return approximately to ordinary levels, as profit for the current fiscal year was significantly affected by temporary factors that pushed it above ordinary levels.
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