Worth reading
56In 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
63.7
% (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 Sales307,202million yenYear on year +3.0%Progress 101.1%
Operating profit15,928million yenYear on year +63.7%Progress 77.7%
Ordinary income25,313million yenYear on year +183.6%Progress 122.3%
Net income attributable to owners of the parent18,360million yenYear on year +574.3%
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¥511.80
Operating Margin5.2%
Financial position at period-end
Total assets440,889million yen
of which net assets 193,964 million yenEquity ratio 44.7%vs. prior year-end -0.4pt
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+7,616
Investment-9,959
Financials-9,731
Net change-12,074
Stacked from zero: upward is an increase in cash, downward a decrease (in million yen).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 period15,676 million yen
Segment revenueCivil Engineering Business 115,248 million yen (YoY +16.4%), Building Construction 180,142 million yen (YoY -2.9%), Investment development business 7,206 million yen (YoY -8.5%)
Segment profitCivil Engineering Business 10,103 million yen (YoY +114.0%), Building Construction 6,076 million yen (YoY -8.3%), Investment development business -730 million yen
Outlook and shareholder returns
Full-year earnings forecast
Net Sales304,000 million yen (YoY -1.0%)
Operating profit20,500 million yen (YoY +28.7%)
Ordinary income20,700 million yen (YoY -18.2%)
Profit attributable to owners of the parent15,400 million yen (YoY -16.1%)
Annual Dividend Forecast297 yen → 300 yen
Payout ratioActual results for the current fiscal year 58.5% / Current fiscal year excluding one-off factors 70.2% / Next-year forecast 70.4%
Shareholder Return PolicyDuring the period covered by the Medium-Term Management Plan (fiscal 2025–2027), a consolidated dividend payout ratio of at least 70% and a DOE floor of 2.0% will apply regardless of business performance.
Factors Behind Changes in Business Performance
Steady progress on construction projects carried over from the previous fiscal year, an improvement in the construction business gross profit margin, gains on the valuation of foreign exchange contracts at Ishikari Bioenergy, and the rebound following the impairment loss recorded in the previous fiscal year.
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 0 companies (none applicable) / Excluded 0 companies (none applicable)
Material subsequent eventsNo applicable matters.
Impairment lossNo applicable matters.
Breakdown of extraordinary income (loss)Extraordinary income Gain on sale of investment securities 1,995 million yen, Other 50 million yen / Extraordinary loss Loss on Disposal of Fixed Assets 616 million yen, Other 74 million yen
Depreciation and amortization3,181 million yen
Orders received and order backlogCivil engineering business orders received 132,273 million yen (YoY -31.4%), Building construction business orders received 220,008 million yen (YoY +19.7%), Forecast orders received in the construction business for the next consolidated fiscal year 280,000 million yen (YoY -20.5%)
Availability of Supplementary Financial Results MaterialsYes
Availability of Financial Results BriefingYes (for analysts and institutional investors)
Issued Shares at Period-End38,665,226 shares
Treasury Shares at Period-End2,794,557 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 | 307,202 million yen (YoY +3.0%) |
| Operating profit | 15,928 million yen (YoY +63.7%) |
| Ordinary income | 25,313 million yen (YoY +183.6%) |
| Profit attributable to owners of the parent | 18,360 million yen (YoY +574.3%) |
| Net income per share | ¥511.80 |
| Operating Margin | 5.2% |
| Equity ratio | End of the current fiscal period 44.7% / End of previous period 45.1% |
| Total assets | 440,889 million yen |
| Net assets | 193,964 million yen |
| Cash flows from operating activities | 7,616 million yen |
| Cash flows from investing activities | -9,959 million yen |
| Cash flows from financing activities | -9,731 million yen |
| Cash and cash equivalents at end of period | 15,676 million yen |
| Full-year earnings forecast | Net Sales 304,000 million yen (YoY -1.0%) / Operating profit 20,500 million yen (YoY +28.7%) / Ordinary income 20,700 million yen (YoY -18.2%) / Profit attributable to owners of the parent 15,400 million yen (YoY -16.1%) |
| Annual Dividend Forecast | 297 yen → 300 yen |
| Payout ratio | Actual results for the current fiscal year 58.5% / Current fiscal year excluding one-off factors 70.2% / Next-year forecast 70.4% |
| Shareholder Return Policy | During the period covered by the Medium-Term Management Plan (fiscal 2025–2027), a consolidated dividend payout ratio of at least 70% and a DOE floor of 2.0% will apply regardless of business performance. |
| Segment revenue | Civil Engineering Business 115,248 million yen (YoY +16.4%), Building Construction 180,142 million yen (YoY -2.9%), Investment development business 7,206 million yen (YoY -8.5%) |
| Segment profit | Civil Engineering Business 10,103 million yen (YoY +114.0%), Building Construction 6,076 million yen (YoY -8.3%), Investment development business -730 million yen |
| Orders received and order backlog | Civil engineering business orders received 132,273 million yen (YoY -31.4%), Building construction business orders received 220,008 million yen (YoY +19.7%), Forecast orders received in the construction business for the next consolidated fiscal year 280,000 million yen (YoY -20.5%) |
| Depreciation and amortization | 3,181 million yen |
| Impairment loss | No applicable matters. |
| Breakdown of extraordinary income (loss) | Extraordinary income Gain on sale of investment securities 1,995 million yen, Other 50 million yen / Extraordinary loss Loss on Disposal of Fixed Assets 616 million yen, Other 74 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 | New 0 companies (none applicable) / Excluded 0 companies (none applicable) |
| Material subsequent events | No applicable matters. |
| Availability of Supplementary Financial Results Materials | Yes |
| Availability of Financial Results Briefing | Yes (for analysts and institutional investors) |
| Issued Shares at Period-End | 38,665,226 shares |
| Treasury Shares at Period-End | 2,794,557 shares |
| Factors Behind Changes in Business Performance | Steady progress on construction projects carried over from the previous fiscal year, an improvement in the construction business gross profit margin, gains on the valuation of foreign exchange contracts at Ishikari Bioenergy, and the rebound following the impairment loss recorded in the previous fiscal year. |
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.In the construction business, projects carried over from the previous fiscal year progressed steadily, improving the gross profit margin. Ordinary profit benefited from gains on the valuation of foreign exchange contracts at Ishikari Bioenergy, while net profit benefited from the rebound following the impairment loss recorded in the previous fiscal year.
How to read this page
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