Worth reading
60In 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
27.9
% (year-on-year change in operating profit)Wording
Conditional
How definitive the wording is.Results for this period
Full year1 April 2025–31 March 2026ConsolidatedJapanese GAAPNet Sales254,674¥ millionYear on year +0.6%Progress 98.0%
Operating profit27,991¥ millionYear on year +27.9%Progress 94.9%
Ordinary income29,287¥ millionYear on year +26.9%Progress 97.6%
Net income attributable to owners of the parent23,688¥ millionYear on year +37.7%Progress 93.6%
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¥153.51
Operating Margin11.0％
Financial position at period-end
Total assets219,483¥ million
of which net assets 121,437 ¥ millionEquity ratio 55.3%vs. prior year-end +2.4pt
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+13,167
Investment-1,338
Financials-16,068
Net change-4,239
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¥39,784 million
Segment revenueBuilding Equipment Business ¥212,908 million (YoY +1.9%), Machinery Systems Business ¥9,767 million (YoY -10.7%), Environmental Systems Business ¥30,107 million (YoY -3.8%), Real Estate Business ¥2,655 million (YoY +2.4%)
Segment profitBuilding Equipment Business ¥28,054 million (YoY +36.5%), Machinery Systems Business ¥-918 million, Environmental Systems Business ¥1,146 million (YoY -35.9%), Real Estate Business ¥837 million (YoY -7.4%)
Outlook and shareholder returns
Full-year earnings forecast
Net Sales¥260,000 million (YoY +2.1%)
Operating profit¥29,500 million (YoY +5.4%)
Ordinary income¥30,000 million (YoY +2.4%)
Net income¥25,300 million (YoY +6.8%)
Annual Dividend Forecast195 Yen (prior-year actual on a pre-stock-split basis; current-year forecast on a post-stock-split basis) → 65 Yen (prior-year actual on a pre-stock-split basis; current-year forecast on a post-stock-split basis)（-66.7%）
Payout ratioCurrent fiscal year 42.3 ％ / Next-year forecast 39.2 ％
Shareholder Return PolicyDividend-on-equity (DOE) of at least 5.0%; acquisition of approximately 4 million treasury shares (cumulative during the period of the medium-term management plan)
Factors Behind Changes in Business Performance
Orders increased, mainly due to the award of large-scale urban redevelopment-related projects, while sales increased as small- and medium-sized projects progressed steadily. Initiatives to improve margins at the time of order receipt and during construction contributed to higher profit.
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 consolidationNo material changes to the scope of consolidation during the period. The number and names of companies added to or removed from the scope are not disclosed.
Material subsequent eventsA 3-for-1 stock split of common shares, effective 1 May 2026, and amendments to the Articles of Incorporation, as well as the acquisition on 13 May 2026 of a 40% interest in ES Matrix Sdn. Bhd., which will become an equity-method affiliate
Impairment loss¥69 million
Breakdown of extraordinary income (loss)Extraordinary income Gain on sale of investment securities ¥3,627 million / Extraordinary loss Impairment Losses ¥69 million, Loss on Disposal of Fixed Assets ¥182 million
Depreciation and amortization¥2,007 million
Orders received and order backlogOrders received ¥294,738 million / Order backlog at fiscal year-end ¥250,794 million
Availability of Supplementary Financial Results MaterialsYes
Availability of Financial Results BriefingYes (for securities analysts and institutional investors)
Issued Shares at Period-End160,983,468 shares
Treasury Shares at Period-End8,231,100 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 | ¥254,674 million (YoY +0.6%) |
| Operating profit | ¥27,991 million (YoY +27.9%) |
| Ordinary income | ¥29,287 million (YoY +26.9%) |
| Profit attributable to owners of the parent | ¥23,688 million (YoY +37.7%) |
| Net income per share | ¥153.51 |
| Operating Margin | 11.0％ |
| Equity ratio | End of the current fiscal period 55.3％ / End of previous period 52.9％ |
| Total assets | ¥219,483 million |
| Net assets | ¥121,437 million |
| Cash flows from operating activities | ¥13,167 million |
| Cash flows from investing activities | ¥-1,338 million |
| Cash flows from financing activities | ¥-16,068 million |
| Cash and cash equivalents at end of period | ¥39,784 million |
| Full-year earnings forecast | Net Sales ¥260,000 million (YoY +2.1%) / Operating profit ¥29,500 million (YoY +5.4%) / Ordinary income ¥30,000 million (YoY +2.4%) / Net income ¥25,300 million (YoY +6.8%) |
| Annual Dividend Forecast | 195 Yen (prior-year actual on a pre-stock-split basis; current-year forecast on a post-stock-split basis) → 65 Yen (prior-year actual on a pre-stock-split basis; current-year forecast on a post-stock-split basis)（-66.7%） |
| Payout ratio | Current fiscal year 42.3 ％ / Next-year forecast 39.2 ％ |
| Shareholder Return Policy | Dividend-on-equity (DOE) of at least 5.0%; acquisition of approximately 4 million treasury shares (cumulative during the period of the medium-term management plan) |
| Segment revenue | Building Equipment Business ¥212,908 million (YoY +1.9%), Machinery Systems Business ¥9,767 million (YoY -10.7%), Environmental Systems Business ¥30,107 million (YoY -3.8%), Real Estate Business ¥2,655 million (YoY +2.4%) |
| Segment profit | Building Equipment Business ¥28,054 million (YoY +36.5%), Machinery Systems Business ¥-918 million, Environmental Systems Business ¥1,146 million (YoY -35.9%), Real Estate Business ¥837 million (YoY -7.4%) |
| Orders received and order backlog | Orders received ¥294,738 million / Order backlog at fiscal year-end ¥250,794 million |
| Depreciation and amortization | ¥2,007 million |
| Impairment loss | ¥69 million |
| Breakdown of extraordinary income (loss) | Extraordinary income Gain on sale of investment securities ¥3,627 million / Extraordinary loss Impairment Losses ¥69 million, Loss on Disposal of Fixed Assets ¥182 million |
| 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 | No material changes to the scope of consolidation during the period. The number and names of companies added to or removed from the scope are not disclosed. |
| Material subsequent events | A 3-for-1 stock split of common shares, effective 1 May 2026, and amendments to the Articles of Incorporation, as well as the acquisition on 13 May 2026 of a 40% interest in ES Matrix Sdn. Bhd., which will become an equity-method affiliate |
| Availability of Supplementary Financial Results Materials | Yes |
| Availability of Financial Results Briefing | Yes (for securities analysts and institutional investors) |
| Issued Shares at Period-End | 160,983,468 shares |
| Treasury Shares at Period-End | 8,231,100 shares |
| Factors Behind Changes in Business Performance | Orders increased, mainly due to the award of large-scale urban redevelopment-related projects, while sales increased as small- and medium-sized projects progressed steadily. Initiatives to improve margins at the time of order receipt and during construction contributed to higher profit. |
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 increased, mainly due to the award of large-scale urban redevelopment-related projects, while sales increased as small- and medium-sized projects progressed steadily. Initiatives to improve margins at the time of order receipt and during construction also contributed to the increase in profit.
How to read this page
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