Worth reading
59In 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
41.8
% (year-on-year change in net income attributable to owners of the parent)Wording
Conditional
How definitive the wording is.Results for this period
Full year2024年4月1日〜2025年3月31日ConsolidatedJapanese GAAPNet Sales330,472¥ millionsYear on year +16.4%Progress 98.6%
Operating profit20,621¥ millionsYear on year +19.7%Progress 114.6%
Ordinary income20,073¥ millionsYear on year +20.7%Progress 114.7%
Net income attributable to owners of the parent14,908¥ millionsYear on year +41.8%Progress 119.3%
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 share187.94円
Operating Margin6.2%
Financial position at period-end
Total assets298,939¥ millions
of which net assets 107,873 ¥ millionsEquity ratio 35.6%vs. prior year-end +0.6pt
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-14,255
Investment+93
Financials-1,250
Net change-15,412
Stacked from zero: upward is an increase in cash, downward a decrease (in ¥ millions).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¥41,583 millions
Segment revenue
Domestic Civil Engineering Business141,09642.7%+2.6%
Domestic Building Business110,36533.4%+31.4%
Overseas Operations65,73719.9%+35.5%
Other13,2724.0%-3.8%
Segment profit
Domestic Civil Engineering Business13,18650.8%-0.5%
Domestic Building Business6,42124.7%+42.5%
Overseas Operations4,23016.3%+237.0%
Other2,1158.1%-32.1%
Regional sales個別完成工事高 Domestic public sector ¥124,417 millions / Domestic private sector ¥121,824 millions / Overseas ¥65,737 millions
Outlook and shareholder returns
Full-year earnings forecast
Net Sales¥335,000 millions (YoY +1.4%)
Operating profit¥18,000 millions (YoY -12.7%)
Ordinary income¥17,500 millions (YoY -12.8%)
Net income¥12,500 millions (YoY -16.2%)
Annual Dividend Forecast76 円（1株当たり、2025年3月期実績から2026年3月期予想） → 76 円（1株当たり、2025年3月期実績から2026年3月期予想）（0.0%）
Payout ratioFiscal year ended March 2025: actual 40.4% / Fiscal year ending March 2026 forecast 48.2%
Shareholder Return Policy2024年度および2025年度は配当性向40％以上、2023～2025年度の3カ年累計で総還元性向70％程度を目標とする。
Factors Behind Changes in Business Performance
国内土木は大型案件を中心に手持工事が進捗し、売上高は増加したが、セグメント利益は0.5％減少した。国内建築は大型案件を中心に手持工事が進捗し、高採算案件の堅調な推移と全体的な利益率改善により増益となった。海外は大型案件を中心に手持工事が進捗し、高採算案件が堅調に推移したため増益となった。
Disclosure regarding the going concern assumption
Not applicable (no matters to report in the notes on the going concern assumption)
Change in accounting policy
基準改正に伴う変更 Yesそれ以外の変更 No見積りの変更 No修正再表示 No
Material subsequent events2025年5月13日開催の取締役会で、株主還元の充実と資本効率の向上を目的に、自己株式4,200,000株を上限、取得価額総額40億円を上限として、2025年5月23日から11月30日まで取得することを決議した。
Impairment loss¥78 millions
Breakdown of extraordinary income (loss)Extraordinary income Gain on sales of fixed assets ¥30 millions / Gain on Sale of Investment Securities ¥1,112 millions / Subsidy Income ¥7 millions / Other ¥7 millions / Extraordinary loss Loss on sale of non-current assets ¥0 millions / Loss on Retirement of Fixed Assets ¥145 millions / Loss on reduction of non-current asset acquisition costs ¥7 millions / Impairment loss ¥78 millions / Other ¥7 millions
Depreciation and amortization¥3,270 millions
Orders received and order backlogIndividual company orders received ¥353,775 millions / 個別手持高 ¥512,957 millions
Availability of Supplementary Financial Results MaterialsYes
Availability of Financial Results BriefingYes (for institutional investors and analysts)
Issued Shares at Period-End87,978,516 Shares
Treasury Shares at Period-End8,626,040 Shares
| Item | Details |
|---|---|
| Fiscal Period Classification | Full year |
| Accounting standards | Japanese GAAP |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 2024年4月1日〜2025年3月31日 |
| Net Sales | ¥330,472 millions (YoY +16.4%) |
| Operating profit | ¥20,621 millions (YoY +19.7%) |
| Ordinary income | ¥20,073 millions (YoY +20.7%) |
| Profit attributable to owners of the parent | ¥14,908 millions (YoY +41.8%) |
| Net income per share | 187.94円 |
| Operating Margin | 6.2% |
| Equity ratio | End of the current fiscal period 35.6% / End of previous period 35.0% |
| Total assets | ¥298,939 millions |
| Net assets | ¥107,873 millions |
| Cash flows from operating activities | ¥-14,255 millions |
| Cash flows from investing activities | ¥93 millions |
| Cash flows from financing activities | ¥-1,250 millions |
| Cash and cash equivalents at end of period | ¥41,583 millions |
| Full-year earnings forecast | Net Sales ¥335,000 millions (YoY +1.4%) / Operating profit ¥18,000 millions (YoY -12.7%) / Ordinary income ¥17,500 millions (YoY -12.8%) / Net income ¥12,500 millions (YoY -16.2%) |
| Annual Dividend Forecast | 76 円（1株当たり、2025年3月期実績から2026年3月期予想） → 76 円（1株当たり、2025年3月期実績から2026年3月期予想）（0.0%） |
| Payout ratio | Fiscal year ended March 2025: actual 40.4% / Fiscal year ending March 2026 forecast 48.2% |
| Shareholder Return Policy | 2024年度および2025年度は配当性向40％以上、2023～2025年度の3カ年累計で総還元性向70％程度を目標とする。 |
| Segment revenue | Domestic Civil Engineering Business ¥141,096 millions (YoY +2.6%) / Domestic Building Business ¥110,365 millions (YoY +31.4%) / Overseas Operations ¥65,737 millions (YoY +35.5%) / Other ¥13,272 millions (YoY -3.8%) |
| Segment profit | Domestic Civil Engineering Business ¥13,186 millions (YoY -0.5%) / Domestic Building Business ¥6,421 millions (YoY +42.5%) / Overseas Operations ¥4,230 millions (YoY +237.0%) / Other ¥2,115 millions (YoY -32.1%) |
| Regional sales | 個別完成工事高 Domestic public sector ¥124,417 millions / Domestic private sector ¥121,824 millions / Overseas ¥65,737 millions |
| Orders received and order backlog | Individual company orders received ¥353,775 millions / 個別手持高 ¥512,957 millions |
| Depreciation and amortization | ¥3,270 millions |
| Impairment loss | ¥78 millions |
| Breakdown of extraordinary income (loss) | Extraordinary income Gain on sales of fixed assets ¥30 millions / Gain on Sale of Investment Securities ¥1,112 millions / Subsidy Income ¥7 millions / Other ¥7 millions / Extraordinary loss Loss on sale of non-current assets ¥0 millions / Loss on Retirement of Fixed Assets ¥145 millions / Loss on reduction of non-current asset acquisition costs ¥7 millions / Impairment loss ¥78 millions / Other ¥7 millions |
| Disclosure regarding the going concern assumption | Not applicable (no matters to report in the notes on the going concern assumption) |
| Change in accounting policy | Changes due to revisions to standards Yes / Other changes No / Change in accounting estimate No / Restatement No |
| Material subsequent events | 2025年5月13日開催の取締役会で、株主還元の充実と資本効率の向上を目的に、自己株式4,200,000株を上限、取得価額総額40億円を上限として、2025年5月23日から11月30日まで取得することを決議した。 |
| Availability of Supplementary Financial Results Materials | Yes |
| Availability of Financial Results Briefing | Yes (for institutional investors and analysts) |
| Issued Shares at Period-End | 87,978,516 Shares |
| Treasury Shares at Period-End | 8,626,040 Shares |
| Factors Behind Changes in Business Performance | 国内土木は大型案件を中心に手持工事が進捗し、売上高は増加したが、セグメント利益は0.5％減少した。国内建築は大型案件を中心に手持工事が進捗し、高採算案件の堅調な推移と全体的な利益率改善により増益となった。海外は大型案件を中心に手持工事が進捗し、高採算案件が堅調に推移したため増益となった。 |
Items this document does not state (2)
Revision to Earnings ForecastChanges in the scope of consolidation
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.大型案件を中心に手持工事が進捗したこと、国内土木・国内建築・海外事業で高採算案件が堅調に推移したこと、国内建築で全体的に利益率が改善したことなどが増益要因として挙げられている。次期は、人材への投資や生産性向上に向けたシステム投資を積極化するため、営業利益は減益を見込んでいる。
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