Worth reading
58In 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
17.4
% (year-on-year change in revenue)Wording
Conditional
How definitive the wording is.Results for this period
Full year1 April 2025–31 March 2026ConsolidatedJapanese GAAPNet Sales787,715¥ millionYear on year +17.4%Progress 105.0%
Operating profit52,016¥ millionYear on year +22.5%Progress 92.9%
Ordinary income52,723¥ millionYear on year +21.2%Progress 96.7%
Net income attributable to owners of the parent31,031¥ millionYear on year +15.5%Progress 87.4%
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¥151.13
Operating Margin6.6%
Financial position at period-end
Total assets691,154¥ million
of which net assets 346,736 ¥ millionEquity ratio 49.5%vs. prior year-end -0.5pt
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+33,230
Investment-14,989
Financials-16,505
Net change+1,736
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¥41,376 million
Segment revenueTelecommunications Carriers ¥255,693 million (YoY +1.3%), Urban Infrastructure ¥248,455 million (YoY +14.1%), System Solutions ¥283,566 million (YoY +41.3%)
Segment profitTelecommunications Carriers ¥23,334 million (YoY +10.5%), Urban Infrastructure ¥16,479 million (YoY +27.7%), System Solutions ¥12,201 million (YoY +44.7%)
Outlook and shareholder returns
Full-year earnings forecast
Net Sales¥750,000 million (YoY -4.8%)
Operating profit¥56,000 million (YoY +7.7%)
Ordinary income¥54,500 million (YoY +3.4%)
Net income¥35,500 million (YoY +14.4%)
Annual Dividend Forecast¥68 → ¥80（+17.6%）
Payout ratio45.0% for the fiscal year ended March 2026; forecast 45.8% for the fiscal year ending March 2027
Shareholder Return PolicyThe company intends to pay dividends based on a dividend-on-equity (DOE) ratio of approximately 4.0%. The target for the next fiscal year is approximately 4.5%.
Factors Behind Changes in Business Performance
In addition to strong performance in optical-fiber network construction, mobile infrastructure investment, data center and electrical-related construction, and Next GIGA-related orders, the company advanced operational efficiency improvements, selective order acceptance, DX support and generative AI initiatives, structural reforms, and earnings improvement measures.
Disclosure regarding the going concern assumption
No applicable matters ("There are 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 0 / Company name No / Excluded Number of companies 0 / Company name No
Material subsequent eventsAt a meeting of the Board of Directors held on 13 May 2026, the company resolved to repurchase up to 2 million shares for a total acquisition cost of up to ¥4 billion, during the period from 1 July 2026 to 31 March 2027.
Impairment loss¥3,486 million
Breakdown of extraordinary income (loss)Extraordinary income Gain on sale of investment securities ¥2,339 million, Gain on sale of non-current assets ¥739 million / Extraordinary loss Impairment Losses ¥3,486 million, Impairment Loss on Investment Securities ¥959 million
Depreciation and amortization¥12,799 million
Orders received and order backlogOrders received ¥811.839 billion (YoY +14.0%) / 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-End205,624,838 shares
Treasury Shares at Period-End1,548,975 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 | ¥787,715 million (YoY +17.4%) |
| Operating profit | ¥52,016 million (YoY +22.5%) |
| Ordinary income | ¥52,723 million (YoY +21.2%) |
| Profit attributable to owners of the parent | ¥31,031 million (YoY +15.5%) |
| Net income per share | ¥151.13 |
| Operating Margin | 6.6% |
| Equity ratio | End of the current fiscal period 49.5% / End of previous period 50.0% |
| Total assets | ¥691,154 million |
| Net assets | ¥346,736 million |
| Cash flows from operating activities | ¥33,230 million |
| Cash flows from investing activities | ¥-14,989 million |
| Cash flows from financing activities | ¥-16,505 million |
| Cash and cash equivalents at end of period | ¥41,376 million |
| Full-year earnings forecast | Net Sales ¥750,000 million (YoY -4.8%) / Operating profit ¥56,000 million (YoY +7.7%) / Ordinary income ¥54,500 million (YoY +3.4%) / Net income ¥35,500 million (YoY +14.4%) |
| Annual Dividend Forecast | ¥68 → ¥80（+17.6%） |
| Payout ratio | 45.0% for the fiscal year ended March 2026; forecast 45.8% for the fiscal year ending March 2027 |
| Shareholder Return Policy | The company intends to pay dividends based on a dividend-on-equity (DOE) ratio of approximately 4.0%. The target for the next fiscal year is approximately 4.5%. |
| Segment revenue | Telecommunications Carriers ¥255,693 million (YoY +1.3%), Urban Infrastructure ¥248,455 million (YoY +14.1%), System Solutions ¥283,566 million (YoY +41.3%) |
| Segment profit | Telecommunications Carriers ¥23,334 million (YoY +10.5%), Urban Infrastructure ¥16,479 million (YoY +27.7%), System Solutions ¥12,201 million (YoY +44.7%) |
| Orders received and order backlog | Orders received ¥811.839 billion (YoY +14.0%) / Order backlog Not disclosed |
| Depreciation and amortization | ¥12,799 million |
| Impairment loss | ¥3,486 million |
| Breakdown of extraordinary income (loss) | Extraordinary income Gain on sale of investment securities ¥2,339 million, Gain on sale of non-current assets ¥739 million / Extraordinary loss Impairment Losses ¥3,486 million, Impairment Loss on Investment Securities ¥959 million |
| Disclosure regarding the going concern assumption | No applicable matters ("There are 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 0 / Company name No / Excluded Number of companies 0 / Company name No |
| Material subsequent events | At a meeting of the Board of Directors held on 13 May 2026, the company resolved to repurchase up to 2 million shares for a total acquisition cost of up to ¥4 billion, during the period from 1 July 2026 to 31 March 2027. |
| 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 | 205,624,838 shares |
| Treasury Shares at Period-End | 1,548,975 shares |
| Factors Behind Changes in Business Performance | In addition to strong performance in optical-fiber network construction, mobile infrastructure investment, data center and electrical-related construction, and Next GIGA-related orders, the company advanced operational efficiency improvements, selective order acceptance, DX support and generative AI initiatives, structural reforms, and earnings improvement measures. |
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.Orders remained strong in optical-fiber network construction and mobile infrastructure investment for telecommunications carriers, data center and electrical-related construction in urban infrastructure, and Next GIGA-related projects in system solutions. The company also reviewed its business processes, focused on selective order acceptance, pursued DX support and generative AI initiatives, and advanced structural reforms and earnings improvement measures.
How to read this page
This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
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Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.